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Estate Agency Work Quiz

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Questions and Answers

What does the Estate Agent Ordinance (EAO) define as estate agency work?

Interior design and decoration consultation

Introduction of a third person wishing to buy or sell property and follow-up negotiation (correct)

Landscaping and gardening services

Property maintenance and renovation services

What liability does an estate agent bear as a broker?

Liability for property tax payments

Liability for environmental impact assessments

Liability for construction permits

Liability for misrepresenting the vendor's acceptance of the purchaser's offer (correct)

What duty does an estate agent owe to their client?

Duty to act without considering the principal's best interests

Duty to disclose confidential client information to third parties

Duty to prioritize personal interests over the principal's

Fiduciary duty to act in a way that benefits the principal financially (correct)

What is the common law definition of agency?

The relation between two persons when one represents the other in law (A) Signup and view all the answers

What is the most important aspect of agency according to the text?

The ability of the agent to act in such a way with regard to third parties as to bind his principal (C) Signup and view all the answers

What is covered under the definition of estate agency work according to the Estate Agent Ordinance (Cap.511)?

Introduction to client of a third person who wishes to buy or sell property (A) Signup and view all the answers

What liability does an estate agent bear if they misrepresent the vendor’s acceptance of a purchaser’s offer?

They will be liable for any loss the purchaser suffers (A) Signup and view all the answers

What is the fiduciary duty of an estate agent towards their client?

To act in a way that will benefit the principal financially (C) Signup and view all the answers

What is the common law definition of agency?

The relation that exists between two persons when one is considered in law to represent the other (A) Signup and view all the answers

What is the most important aspect of agency according to the text?

The ability of the agent to act in such a way with regard to third parties as to bind his principal (B) Signup and view all the answers

Estate Agency Work Quiz

Choose a study mode

Podcast

Questions and Answers

What does the Estate Agent Ordinance (EAO) define as estate agency work?

What liability does an estate agent bear as a broker?

What duty does an estate agent owe to their client?

What is the common law definition of agency?

What is the most important aspect of agency according to the text?

What is covered under the definition of estate agency work according to the Estate Agent Ordinance (Cap.511)?

What liability does an estate agent bear if they misrepresent the vendor’s acceptance of a purchaser’s offer?

What is the fiduciary duty of an estate agent towards their client?

What is the common law definition of agency?

What is the most important aspect of agency according to the text?

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