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?
Why Ratification Is Correct
Answer C: Ratification
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 Alaska real estate agent who acts beyond the scope of their authorized duties without the principal's consent may create liability for:Agency
- Under Alaska agency law, ratification of an unauthorized act by an agent occurs when:Agency
- In Alaska, a listing agent may be authorized by the seller to accept offers on the seller's behalf under which type of authority?Agency
- An agency relationship is most commonly created by: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.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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 →