Week 7

Week 7

University

20 Qs

quiz-placeholder

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TEST [TRA 3073] SESSION 1 21/22

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Week 7

Week 7

Assessment

Quiz

Social Studies

University

Hard

Created by

by azura

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An authorised agent may be entitled to make which of the following on behalf of the principal?

Statements

Payments

Contracts

All of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is least likely to be Angie's agent?

Angie's stockbroker

Angie's employer

Angie's real estate agent

Angie's partner

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A agent with broad but restricted authority to act on behalf of the principal is referred to as a:

universal agent

special agent

general agent

mercantile agent

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a type of authority?

Implied actual authority

Express apparent authority

Express actual authority

Ostensible authority

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Authority for the agent to act on behalf of the principal may be implied:

in order to give business efficacy to a contract

to permit the agent to complete the task given to them by the principal

if the agent has been granted such authority in the past

all of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a requirement that must be satisfied in order to establish the existence of apparent authority

The third party knew that agent did not have actual authority

The principal 'held out' the agent as having authority to act on their behalf

The third party relied upon that holding out, and reasonably assumed that the agent had actual authority

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A commision is a type of:

indemnity

reimbursement

remuneration

liability

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