Alberta General Insurance Level 1 Practice Exam

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What does an agency or brokerage contract enable?

  1. A partnership between companies

  2. Exclusive rights to property sales

  3. Employment of another to perform tasks on one's behalf

  4. A confidentiality agreement

The correct answer is: Employment of another to perform tasks on one's behalf

An agency or brokerage contract enables the employment of another to perform tasks on one's behalf, while the other options do not accurately describe the purpose of such a contract. A partnership between companies typically involves joint ownership and decision-making, whereas a brokerage contract involves one party working on behalf of another. Exclusive rights to property sales may be granted through a contract, but this is not the primary purpose of an agency or brokerage contract. A confidentiality agreement is a separate and distinct legal document.

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