Real Estate Agents: Employees vs. Independent Contractors

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

An _____ receives a check on a regular schedule, with their pay based on either the number of hours worked or a set salary.

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1. In general who obtains an Errors and Omissions insurance policy for a real estate agent who is an independent contractor?

2. How many hours per week is an independent contractor required to work?

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About This Quiz & Worksheet

The hiring of employees and independent contractors requires different stipulations for each category. To be successful on this quiz, you will need to know how these two paid positions differ.

Quiz & Worksheet Goals

You will be quizzed on the following to demonstrate your knowledge of the subject:

  • Which individual receives a check with a regular schedule
  • Who obtains an Errors and Omissions insurance policy for a real estate agent
  • The amount of hours contractors are required to work

Skills Practiced

  • Distinguishing differences - compare and contrast the tax documents received by employees and contractors
  • Knowledge application - use your knowledge to determine who is responsible for taking out taxes for contractors' compensation
  • Reading comprehension - ensure that you draw the most important information regarding the differences between compensation for employees and contractors

Additional Learning

To learn more on this topic, please be sure to read the accompanying lesson titled Real Estate Agents: Employees vs. Independent Contractors. The lesson covers:

  • Work hour requirements
  • Responsibility and liability
  • Payment and compensation
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