What Is the Primary Difference Between an Agent and a Broker

question 130

Multiple Choice

What is the primary difference between an agent and a broker?

• A) An agent gets compensated based on commission while a broker generally charges fees for his services.
• B) A broker works only for a seller whereas an agent can represent a buyer or a seller.
• C) An agent represents a company on a permanent basis while a broker is employed temporarily.
• D) An agent has much more extensive knowledge about the products he deals with than a broker does.
• E) Brokers have long-term relationships with their customers while an agent's relationships are generally short-lived.

Identify the types of collateral automatically covered upon the security interest’s attachment.

Recognize the essential elements and legal effects of financing statements in secured transactions.

Distinguish between different classifications of collateral, including inventory, equipment, and consumer goods, based on the UCC.

Explain the methods for perfecting a security interest, including possession and public filing, and their implications.

---

Definitions:

Tactics

Specific actions or strategies planned to achieve a certain goal.

Communication Audit

A comprehensive evaluation of an organization's communication strategies, tools, and practices, aimed at identifying strengths and areas for improvement.

Social Media Audit

A systematic examination of an organization's or individual's social media profiles and strategies to identify strengths and areas for improvement.

Strategic Plan

A systematic process of envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.