Topic 9: Business Associations And Relationships
Lesson 9.1: Agency — Quiz
Test your understanding of lesson 9.1: agency with 5 practice questions.
Practice Questions
Question 1
What is the primary purpose of creating an agency relationship?
Question 2
Which type of authority allows an agent to act on behalf of a principal when this authority has not been expressly granted?
Question 3
What is the term used for the liability of a principal for the actions of their agent in the course of their duties?
Question 4
When an agent acts beyond their authority, which of the following best describes this situation?
Question 5
If a principal approves of an agent's actions after the fact, what is this called?