TMA1/ENT328

TMA Quiz Questions TMA: TMA1/ENT328 Matric Number:  SCORE=9.50 ENT328 - Estate Management MRS. Olajide-Arise Temi (tolajide-arise@noun.edu.ng ) 1 An agent who acts within the scope of authority conferred by his or her principal binds the principal in the obligations he or she creats against 3rd parties. TRUE FALSE Maybe None of the above 2 There are ………. Kinds of authority recognized in the law. 3 4 5 6 3 Which ONE of the following is NOT among authority recognized law in Nigeria. Actual authority Apparent authority Coherent authority Ratified authority 4 ………. Refers to authority that naturally arises from expressed authority. Actual authority implied authority ratified authority coherent authority 5 ………. Means an agent has been expressly told he or she may act on behalf of a principal. express actual authority implied authority ratified authority actual authority 6 Implied actual authority can also be called ………. common authority usual authority none of the above express authority 7 Apparent authority can also be called ………. ostensible authority implied authority Coherent authority None of the above 8 which ONE of the following is NOT among the duties of an agent. duty of loyalty duty to act with skill duty to account for money spent duty to buy and sell 9 an agent must not accept any new obligations that are inconsistent with the duties owed to the principal. TRUE FALSE Maybe None of the above 10 An agent can usurp an opportunity from the principal by taking it for himself or passing it onto a third party. TRUE FALSE Maybe None of the above 11 Which ONE of the following is NOT among the parties to the agency liability. liability of agent to students liability of agent to principal liability of principal to agent None of the above 12 An agent authority CANNOT be terminated at any time. TRUE FALSE Maybe None of the above 13 Which ONE of the following is NOT among the ways an agency may come to an end. withdrawal by the agent death or insanity by the principal being adjudicated insolvent thief 14 ………. Is one who acts for, and usually advises the principal in respect of transactions involving real estate. estate management estate agency estate surveyor None of the above 15 Valuation or appraisal practice is carried out in Nigeria under the name and style of estate surveying and valuation. TRUE FALSE Maybe None of the above 16 ………. Agent is where a single firm is briefed and authorised to let, purchase or sell a property. multiple agent joint agent sole agent None of the above 17 ……….. Is a process of re-ording the structures of dilapidated parts of urban settlement. urban renewal rural renewal rural-urban renewal None of the above 18 Which ONE of the following is NOT among the reasons for urban renewal. the nature of traditional cities demograhic factors inadequate urban planning capitalization 19 Town planning authorities are important tools for the execution of urban renewal scheme. evaluation town planning country planning None of the above 20 Which ONE of the following is NOT among the strategies of urban renewal. rehabilitation spot clearance conservation None of the above