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CMFASPrepStudyingRES5
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Financial advisory
RES5Financial Advisory Services✓Authority that an agent needs in order to carry out their express instructions, or which is usual for a person in that position, is called:
Implied actual authority is authority not specifically stated but which is reasonably necessary to perform the express authority or is usual for the agent's role. It is still a form of actual authority.
Implied authority is a type of actual authority; apparent authority arises from the principal's representations to third parties.
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