Leasing and Property Management Practice Question
Question
A license applicant is studying a California practice scenario involving property management agreement. Which statement is the most accurate exam answer? (Item 25)
Answer choices
- A. Identify the written authority for a manager to act for an owner.
- B. It can be ignored if the transaction is expected to close quickly.
- C. It requires the licensee to favor the other party over the licensee’s own client.
- D. It is primarily a tax rule with no effect on brokerage practice.
Correct Answer
A. Identify the written authority for a manager to act for an owner.
Explanation
The correct answer is A because property management agreement requires candidates to identify the written authority for a manager to act for an owner. The other options overstate the effect of custom, oral agreement, escrow, or independent salesperson action and do not reflect safe California exam practice.
Question details
- Difficulty: medium
- Domain: Leasing and Property Management
- Objective: property management agreement