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ACEABLE AGENT-TEXAS REAL ESTATE COMPILATION BUNDLE
ACEABLE AGENT-TEXAS REAL ESTATE COMPILATION BUNDLE
[Show more]ACEABLE AGENT-TEXAS REAL ESTATE COMPILATION BUNDLE
[Show more]If a real estate salesperson closes on a transaction, who pays the salesperson their commission? 
The salesperson's sponsoring broker 
 
 
 
A means of comparing similar type properties, which have recently sold, to the subject property is known as the? 
Market Comparison Approach 
 
 
 
The market...
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Add to cartIf a real estate salesperson closes on a transaction, who pays the salesperson their commission? 
The salesperson's sponsoring broker 
 
 
 
A means of comparing similar type properties, which have recently sold, to the subject property is known as the? 
Market Comparison Approach 
 
 
 
The market...
1x sold
One who is given a power-of-attorney that allows them to sign the name of a principal to a contract of sale is a(n): 
 
A) attorney-in-fact 
B) broker with a listing 
C) special agent 
D) attorney-at-law 
attorney-in-fact 
 
 
 
No two parcels of land are exactly alike because no two parcels can occ...
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Add to cartOne who is given a power-of-attorney that allows them to sign the name of a principal to a contract of sale is a(n): 
 
A) attorney-in-fact 
B) broker with a listing 
C) special agent 
D) attorney-at-law 
attorney-in-fact 
 
 
 
No two parcels of land are exactly alike because no two parcels can occ...
supply 
The amount of goods offered for sale within a given market at a given price during a given time period. 
 
 
 
General Agent 
A property manager is an example of what type of agent? 
 
 
 
Special Agent 
A real estate agent is an example of what type of agent? 
 
 
 
Residential, Commercial,...
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Add to cartsupply 
The amount of goods offered for sale within a given market at a given price during a given time period. 
 
 
 
General Agent 
A property manager is an example of what type of agent? 
 
 
 
Special Agent 
A real estate agent is an example of what type of agent? 
 
 
 
Residential, Commercial,...
emblements are best described by which of the following? 
Harveststable plants 
 
 
 
what states that a party, or parties, associated with a contract will cover certain losses or expenses incurred by another party under the contract? 
An indemnification clause 
 
 
 
which of these is NOT one of th...
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Add to cartemblements are best described by which of the following? 
Harveststable plants 
 
 
 
what states that a party, or parties, associated with a contract will cover certain losses or expenses incurred by another party under the contract? 
An indemnification clause 
 
 
 
which of these is NOT one of th...
The purpose of the TRELA is to... 
protect the public against unscrupulous brokers and salespersons. 
 
 
 
What is required to obtain a license in Texas? 
be a resident of Texas at least 18 yrs of age at the time of application, be of good moral character, must show competency by passing the exam 
...
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Add to cartThe purpose of the TRELA is to... 
protect the public against unscrupulous brokers and salespersons. 
 
 
 
What is required to obtain a license in Texas? 
be a resident of Texas at least 18 yrs of age at the time of application, be of good moral character, must show competency by passing the exam 
...
1. The listing is always taken in the name of the _________ and becomes the property of the 
___________. 
 
A. Broker—salesperson 
B. Salesperson—seller 
C. Broker—broker 
D. Broker—seller 
C. Broker- broker 
 
 
 
A deed is used to transfer ownership of real estate. A bill of sale would be...
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Add to cart1. The listing is always taken in the name of the _________ and becomes the property of the 
___________. 
 
A. Broker—salesperson 
B. Salesperson—seller 
C. Broker—broker 
D. Broker—seller 
C. Broker- broker 
 
 
 
A deed is used to transfer ownership of real estate. A bill of sale would be...
A broker's license is suspended for one year. His salespeople: 
Send the license back to TREC and wait for it to be reinstated. 
 
 
 
A report of all the insurance claims made on a property is called a: 
Clue 
 
 
 
The government receives the authority to take the property of one who dies without...
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Add to cartA broker's license is suspended for one year. His salespeople: 
Send the license back to TREC and wait for it to be reinstated. 
 
 
 
A report of all the insurance claims made on a property is called a: 
Clue 
 
 
 
The government receives the authority to take the property of one who dies without...
brokerage 
The business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate. 
 
 
 
real estate broker 
A person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a f...
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Add to cartbrokerage 
The business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate. 
 
 
 
real estate broker 
A person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a f...
Encumbrance 
A claim, charge, or liability that attaches to and is binding on real property? 
 
 
 
Title VIII of the Civil Rights Act of 1968 and Fair Housing Amendments Act of 1988 
The two pieces of legislation that comprise the Fair Housing Act 
 
 
 
commission Agreement 
A contract between a c...
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Add to cartEncumbrance 
A claim, charge, or liability that attaches to and is binding on real property? 
 
 
 
Title VIII of the Civil Rights Act of 1968 and Fair Housing Amendments Act of 1988 
The two pieces of legislation that comprise the Fair Housing Act 
 
 
 
commission Agreement 
A contract between a c...
The purpose of the Texas Real Estate License Act is: 
 
A. to regulate the sale of real property in Texas 
B. to prevent commission splits among licensees 
C. To protect the public against unscrupulous brokers and salesmen 
D. to define the rule of agents in real estate transactions 
C 
 
 
 
Climat...
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Add to cartThe purpose of the Texas Real Estate License Act is: 
 
A. to regulate the sale of real property in Texas 
B. to prevent commission splits among licensees 
C. To protect the public against unscrupulous brokers and salesmen 
D. to define the rule of agents in real estate transactions 
C 
 
 
 
Climat...
Why have the states passed laws that require real estate brokers and sales agents to be licensed? 
to protect the public 
 
 
 
What year was the TRELA passed? 
1949 
 
 
 
What is the potential fine for acting as a sales agent or broker in Texas without a license? 
4,000 
 
 
 
Who may be a Realtor...
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Add to cartWhy have the states passed laws that require real estate brokers and sales agents to be licensed? 
to protect the public 
 
 
 
What year was the TRELA passed? 
1949 
 
 
 
What is the potential fine for acting as a sales agent or broker in Texas without a license? 
4,000 
 
 
 
Who may be a Realtor...
The purpose of the Texas Real Estate License Act is: 
 
A. to regulate the sale of real property in Texas 
B. to prevent commission splits among licensees 
C. To protect the public against unscrupulous brokers and salesmen 
D. to define the rule of agents in real estate transactions 
C 
 
 
 
Climat...
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Add to cartThe purpose of the Texas Real Estate License Act is: 
 
A. to regulate the sale of real property in Texas 
B. to prevent commission splits among licensees 
C. To protect the public against unscrupulous brokers and salesmen 
D. to define the rule of agents in real estate transactions 
C 
 
 
 
Climat...
What kind of professionals manage the legal aspects of a development project? 
Real Estate attorneys, title companies, surveyors, property insurance companies and government regulatory officials 
 
 
 
What types of professionals are involved in the transfer of rights and interest in Real Estate? 
T...
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Add to cartWhat kind of professionals manage the legal aspects of a development project? 
Real Estate attorneys, title companies, surveyors, property insurance companies and government regulatory officials 
 
 
 
What types of professionals are involved in the transfer of rights and interest in Real Estate? 
T...
Which of the following is an example of a limited common element? 
Parking Space 
 
 
 
A married couple buys a home for $400,000. Five years later, they sell it for $550,000. How much of their sale is taxable capital gain? 
$0. 
 
They get a $500,000 capital gains tax exclusion, and they made $150,...
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Add to cartWhich of the following is an example of a limited common element? 
Parking Space 
 
 
 
A married couple buys a home for $400,000. Five years later, they sell it for $550,000. How much of their sale is taxable capital gain? 
$0. 
 
They get a $500,000 capital gains tax exclusion, and they made $150,...
Real Estate Broker 
A person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee. 
 
 
 
Real Estate Salesperson 
A person performing any of the acts included in the definition of real estate broker but while associat...
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Add to cartReal Estate Broker 
A person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee. 
 
 
 
Real Estate Salesperson 
A person performing any of the acts included in the definition of real estate broker but while associat...
Apartment Locator 
a real estate license holder who locates dwelling units for prospective tenants 
 
 
 
Tenant 
one who possesses a property under lease without ownership 
 
 
 
Broker 
someone who assists in buying and selling to receive a commission 
 
 
 
Client 
the person that an agent is rep...
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Add to cartApartment Locator 
a real estate license holder who locates dwelling units for prospective tenants 
 
 
 
Tenant 
one who possesses a property under lease without ownership 
 
 
 
Broker 
someone who assists in buying and selling to receive a commission 
 
 
 
Client 
the person that an agent is rep...
Trec Commision Membership 
9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. 
 
 
 
Texas Real Estate Borker Lawyer Committee 
13 Members (6 brokers, 6 lawyers, 1 public) 
 
 
 
General Eligibility Requirements to be Licensed by TREC 
18 years old 
a US citizen...
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Add to cartTrec Commision Membership 
9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. 
 
 
 
Texas Real Estate Borker Lawyer Committee 
13 Members (6 brokers, 6 lawyers, 1 public) 
 
 
 
General Eligibility Requirements to be Licensed by TREC 
18 years old 
a US citizen...
Equal Credit Opportunity Act (ECOA) 
The law that ensures all consumers an equal chance to obtain credit is: 
 
 
street address 
is an informal reference and is not sufficient for a legal description 
 
 
client/broker 
One of the significant factors in any agency relationship is the liability that...
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Add to cartEqual Credit Opportunity Act (ECOA) 
The law that ensures all consumers an equal chance to obtain credit is: 
 
 
street address 
is an informal reference and is not sufficient for a legal description 
 
 
client/broker 
One of the significant factors in any agency relationship is the liability that...
TREC has the authority under TRELA to suspend or even revoke a broker's license if: 
They conduct the unlawful practice of law 
 
 
 
ESAC stands for: 
Education Standards Advisory Committee 
 
 
 
What refers to a location from an economic rather than a geographic standpoint? 
Situs. 
 
 
 
Which ...
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Add to cartTREC has the authority under TRELA to suspend or even revoke a broker's license if: 
They conduct the unlawful practice of law 
 
 
 
ESAC stands for: 
Education Standards Advisory Committee 
 
 
 
What refers to a location from an economic rather than a geographic standpoint? 
Situs. 
 
 
 
Which ...
Special Agent 
A real estate agent is an example of what type of agent...? 
 
Universal Agent 
General Agent 
Special Agent 
Specific Agent 
 
 
 
Market Comparison Approach 
A means of comparing similar type properties, which have recently sold, to the subject property is known as the...? 
 
Cost A...
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Add to cartSpecial Agent 
A real estate agent is an example of what type of agent...? 
 
Universal Agent 
General Agent 
Special Agent 
Specific Agent 
 
 
 
Market Comparison Approach 
A means of comparing similar type properties, which have recently sold, to the subject property is known as the...? 
 
Cost A...
brokerage 
the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships 
 
 
 
The role of a property manager 
Generally responsible for the day to day operations of the p...
Preview 3 out of 18 pages
Add to cartbrokerage 
the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships 
 
 
 
The role of a property manager 
Generally responsible for the day to day operations of the p...
a freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of 
A.) scarcity 
B.) Fixity 
C.) Situs 
D.) Modification 
D.) Modification 
 
 
 
The supply of Real Estate is affe...
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Add to carta freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of 
A.) scarcity 
B.) Fixity 
C.) Situs 
D.) Modification 
D.) Modification 
 
 
 
The supply of Real Estate is affe...
brokerage 
A business that pertains to overseeing the needs of the parties and completing a transaction they may or may not involve agency relationships 
 
 
 
Real Estate Development 
Involves the acquisition of land for development into residential subdivisions, retail centers and other commercial...
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Add to cartbrokerage 
A business that pertains to overseeing the needs of the parties and completing a transaction they may or may not involve agency relationships 
 
 
 
Real Estate Development 
Involves the acquisition of land for development into residential subdivisions, retail centers and other commercial...
2x sold
Broker's Price Opinion (BPO) 
A broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property 
 
 
 
Closing 
The completion of a real estate transaction in which the buyer receives ownership and the seller r...
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Add to cartBroker's Price Opinion (BPO) 
A broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property 
 
 
 
Closing 
The completion of a real estate transaction in which the buyer receives ownership and the seller r...
Texas Real Estate Agent 
A person who is licensed through TREC. 
Texas Real Estate Commission 
 
 
 
Does a person who manages, buys, sells, leases, or rents their own property have to be licensed through TREC? 
No. 
 
 
 
There are two types of licenses: 
broker's and salesperson's license 
 
 
 ...
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Add to cartTexas Real Estate Agent 
A person who is licensed through TREC. 
Texas Real Estate Commission 
 
 
 
Does a person who manages, buys, sells, leases, or rents their own property have to be licensed through TREC? 
No. 
 
 
 
There are two types of licenses: 
broker's and salesperson's license 
 
 
 ...
Anything that is fastened or attached to real property permanently is considered to be: 
Real Property 
 
 
 
A quitclaim deed releases all present claims, rights and title of the: 
Grantor 
 
 
 
When a creditor wants to satisfy a judgement which was levied against another person, the creditor woul...
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Add to cartAnything that is fastened or attached to real property permanently is considered to be: 
Real Property 
 
 
 
A quitclaim deed releases all present claims, rights and title of the: 
Grantor 
 
 
 
When a creditor wants to satisfy a judgement which was levied against another person, the creditor woul...
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