Chp. 7 Quiz - Independent Contractor or Employee Flashcards
What method may a broker use to determine how an independent contractor is to perform the assigned tasks?
None
If a licensee joins a company as an independent contractor, which of these will he probably not have to pay for on his own?
Utility Expenses
Which of the following situations would cause the IRS to think that a contractor is really an employee?
The licensee takes paid sick days.
If a licensee joins a company as an independent contractor, which of these will he probably have to pay for on his own?
Health insurance
New York Regulation 175.21 requires brokers to supervise employees and independent contractors. Which part of that regulation outlines the requirements for retaining real estate listing records?
Part b
Who may legally compensate a licensed salesperson?
The employing broker
The main difference between employees and independent contractors is
Taxes
What can a broker require of his independent contractors?
They must sign a written agreement.
Which NY law regulates how long brokers must retain transaction records?
DOS Regulation 175.23
Which of the following provisions would be included in an independent contractor employment agreement?
Which expenses the broker will pay
Salespersons must perform all activities in the name of_________.
the employing broker
Which of the following is NOT required to be retained in relation to soliciting and granting mortgage loans to buyers of one-to-four-family dwellings?
Purchase offer
Which of the following may a broker pay for an independent contractor?
Errors and Omissions insurance
How often must an independent contractor agreement be renewed?
Every 15 months
