Real Estate Brokerage (Sae) Questions And Answers 100% Verified A+ Guaranteed

What are expenses that can change based on the transaction and require close monitoring and management? {Ans: variable expenses}With so many checks coming into the brokerage on a daily basis - it pays to have a _____ dedicated to handling checks and daily deposits into the operating account. {Ans: bookkeeper}Types of business expenses include the following: {Ans: rent, money for security and equipment deposits, furniture, equipment leases, license fees, E&O Insurance, liability insurance, utilities, maintenance fees, signage, franchise fees, the unknowns (slow spells due to downturn, etc.)}REALTORS {Ans: brokers, sales agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry and belong to one or more of some 1,400 local associations/ boards and fifty-four state and territory associations of REALTORS®.}Legislation and identity theft: {Ans: Fair and Accurate Credit Transactions Act of 2003 (FACTA) is a section of Federal Fair Credit Reporting Act (FCRA)}Acronym for fiduciary duties of agents {Ans: OLDCAR (obedience, loyalty, disclosure, confidentiality, accounting, reasonable care)}Four categories of leasehold estates {Ans: tenancy for years, periodic tenancy, estate at will, tenancy at sufferance}Who governs the Texas Secretary State for limited liability companies? {Ans: Texas Limited Liability