Principal agent problem Study guides, Class notes & Summaries

REVIEW QUESTIONS FOR NY REAL ESTATE EXAM 1-A broker legitimately may pay all or part of Real estate commission to a a. seller b. salesperson c. buyer d. friend who provides a listing lead -B: Salesperson can accept compensation only from their sponsoring broker. 2-The minimum age for a New York real estate broker's license is a. 19. b. 18. c. 20. d. 21. C. As of July 1,2008 to become a broker you must be 20 years old. 3-Which of the following acts would require a real estate lice...

1. The system of recording, reporting, and summarizing past financial infor- mation and transactions. ANS Accounting 2. An activity ratio found by credit sales divided by accounts receivable. ANS Ac- counts Receivable Turnover (AR Turnover) 3. A category of ratios that measure how well a company uses its assets to generate sales or cash, showing the firm's operational efficiency and prof- itability. ANS Activity Ratios 4. Another name for the discretionary financing needed or external fin...

PHR / SPHR Employee & Labor RelationsAbsentee Policy - correct answer sick time allowed, using sick time, inappropriate sick leave, disciplinary acitons Ad hoc arbitrator - correct answer A person selected to hear a single case between two parties in conflict. Advancement Barriers - correct answer EEO regulations not enforced, practices that hinder advancement, lack of education Agency Shop - correct answer Clause that states that even if workers do not join the union, they must still p...

Corporate Strategy - The decisions & actions taken to gain & sustain competitive advantage in several industries and markets simultaneously What does corporate strategy address? - Where to compete on 3 dimensions: Industry value chain: vertical integration Products & services: diversification Geography: regional, national, or global markets Vertical Integration - The process in which several steps in the production and/or distribution of a product or service are controlled and own...

New York State Property and Casualty Licensing Exam Latest Version Graded A+ Pro Rata Liability Clause is included in an insurance policy to deal with the problem of Duplicate insurance policies The purpose of this clause is to illustrate the method to determine each insurer's liability in case of a loss. Each insurer pays its fair share determined by the percentage that the carrier's limit bears to the total coverage carried. pro rata liability If a loss occurs that is covered b...

True / False 1. A principal has the right to control an agent’s conduct in matters entrusted to the agent. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy REFERENCES: Introduction LEARNING OBJECTIVES: LO - 1 NATIONAL STANDARDS: United States - BUSPROG - Analytic - Business knowledge and analytic skills LOCAL STANDARDS: United States - OH - Default City - AICPA Legal KEYWORDS: Bloom's: Knowledge 2. Through agents, a principal can conduct multipl...

Accounting - ANSWER The system of recording, reporting, and summarizing past financial information and transactions. Accounts Receivable Turnover (AR Turnover) - ANSWER An activity ratio found by credit sales divided by accounts receivable. Activity Ratios - ANSWER A category of ratios that measure how well a company uses its assets to generate sales or cash, showing the firm's operational efficiency and profitability. Additional Funds Needed (AFN) - ANSWER Another name for the discret...

Seller Deangelo agreed to mediate the radon gas problem in his basement within 31 days. It has been 31 days and he still has not addressed the issue. What is the current status of the sales contract? (Ans – It is not affected and is in force. The buyer must now address the problem within 31 days. Deangelo will now receive $5,000 less from the buyer. +Deangelo has defaulted on the contract. What powdery mineral is a health hazard when airborne? (Ans – Mercury Radon +Asbestos Uran...

Idaho insurance Study Guide Latest FRAUD AND FALSE STATEMENTS (18 USC Sections 1033 and 1034) - Under federal statutes it is a felony for any insurance company officer or employee to engage in fraud, embezzlement, theft, or deceit in any insurance transaction. In addition to a $50,000 civil fine, such a person may be subject to imprisonment for up to 15 years. USA PATRIOT ACT - ANTI - MONEY LAUNDERING - To make money laundering more difficult for criminals, the USA Patriot Act requires in...

ETH/321 week 3 apply, Week 3 Apply Assignment Alfonso prefers only to hire Latino workers his auto body shop because they "fit in" easier with his 12 employees. During a busy season, Alfonso hires three extra workers to help keep up with business, then lets them go when the busy season is over. Which true statement best suits this situation? ("Discriminate" in this context means to make an employment decision about employees based on the characteristics described in the text.) -Answer-...