Which of the Following Types of Agency Relationships Would Have

question 72

Multiple Choice

Which of the following types of agency relationships would have to be evidenced by a record to be valid?

• A)A power of attorney to close on a land transaction.
• B)A power of attorney to close on the sale of a golf cart for $4,000.
• C)A power of attorney to sign a six-month lease.
• D)All of the above must be evidenced by a record for the agent to have authority.

---

Definitions:

Consumer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Economic Theory

A structured explanation or framework about how economies function, including principles and models to understand economic behavior and markets.

Abstract Ideas

Concepts or notions that are not tangible or concrete, often involving complex thinking processes and creativity.

Real-World Situation

Circumstances or events that occur in the actual world, outside of controlled or theoretical environments.