TEXAS REAL ESTATE TESTS COMPILATION BUNDLE

Texas Real Estate Commission (TREC) correct answer: -created in 1949 -purpose: to administer the provisions of the License Act -authority to make rules and regulations -9 members (3 represent the general public, 6 are real estate brokers) -all appointed by the governor and approved by the Senat...

The Committee has _____ members appointed by the Commission. correct answer: 12 The __________ is a statute that is administered and enforced by the Texas Real Estate Commission (TREC), which is a state agency. correct answer: Real Estate License Act A successful career in real estate requir...

A license holder, while acting as an agent for another should a. Expect any ambiguities in the contract documents will be corrected at the closing b. Be scrupulous and meticulous in performing the agent`s functions c. Advise buyers that verbal repair agreement can be documented at closing d. E...

Real Estate Agent classroom requirements? correct answer: 180 hours Broker classroom requirements? correct answer: 900 classroom hours - 270 hours of CORE courses, 630 hours from college degree or higher, including 30 hours for broker course Real estate scope of practice 3 prong test correct...

Who is responsible for any wrongs done by a salesperson while acting within the scope of the agency agreement? correct answer: The broker is liable for the wrongdoing of his or her salespersons. The principal is liable for any wrongs committed by the broker while acting within the scope of the agen...

When was TREC created? correct answer: 1947 TREC has the authority to.. correct answer: make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? correct answer: 9 members, 3 represent the general public and 6 are real estate brokers TR...

A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of: a. encroachments b. improvements c. surface rights d. emblements correct answer: B A property owner has a waterfront lot o...

Who is responsible for the acts of a salesperson? correct answer: The sponsoring broker Failure on the part of the agent to advise the purchaser of real property in writing that he should have the abstract covering the property examined by an attorney of his own selection, or that he should be f...

The fact that an individual must go to the land describes which of the characteristics of land? correct answer: IMMOBILITY John and Mary are co-owners of a property. John has 60% interest in the property and Mary has a 40% interest. What type of freehold estate do they have? correct answer: TEN...

License Required correct answer: broker, salesperson, apartment locator (display), property manager, raw land sales, timeshare sales, brokerage Easement or Right of Way correct answer: cannot be sold, bought, leased, or transferred for another for compensation for use in telecommunication, util...

A farmer temporarily installs produce coolers in a leased farm stand in order to prevent spoilage. The coolers would be considered which of the following? a) Trade fixtures that are real property. b) Trade fixtures that are personal property. c) Temporary real property. d) Emblements. correct ...

What are the various brokerage specializations within real estate? correct answer: residential, commercial, industrial, agricultural, and mixed-use. Price correct answer: the amount paid for a property (sales price) Value correct answer: based on objective and subjective factors. Subjective...

If an applicant for a sales license engages in a brokerage transaction, the applicant: correct answer: may face criminal charges resulting in fine or jail An unlicensed assistant is hired to increase an agent's listing inventory. The assistant may: correct answer: create marketing flyers and d...

Texas Real Estate Final Exam Questions With Complete Solutions