Which of the following BEST defines 'actual authority' in a real estate agency context?
Why Authority the principal has expressly or impliedly granted to the agent Is Correct
Answer B: Authority the principal has expressly or impliedly granted to the agent
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
People Also Study
Related Alaska Questions
- An agent who exceeds the scope of authority granted by the principal is acting with:Agency
- What is the difference between expressed and implied agency in Alaska?Agency
- Which type of agency is created when an agent acts on behalf of a principal without explicit authorization, but the principal later approves the action?Agency
- An agent's authority to bind a principal is limited to:Agency
Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Math Concepts
Study This Topic
Practice More Alaska Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →