AYPO EXAM PACKAGE DEAL WITH COMPLETE SOLUTIONS.

The Texas Real Estate Commission consists of members appointed by the governor with the advice and consent of the: Senate. What is their composition? - None of these answers are correct - Six members who have been engaged in the brokerage business as licensed brokers as their major occupation fo...

"Psychological stigmas," which involve violent or catastrophic events on a property, fall under which category of disclosure? a. Required disclosures b. Prohibited disclosures c. Permitted disclosures d. None of these - Answer-c. Permitted disclosures If there is a field in a promulgated for...

The Original Legislation: - Answer-The Real Estate Dealers Act of 1939 main piece of Texas law governing the licensing and behavior of real estate professionals in the state. - Answer-The Real Estate License Act (TRELA) Licensing Duties were added in: - Answer-1955 Broker license was changed fro...

Real estate has been estimated to represent approximately - Answer-one-half of the world's total economic wealth. The buyer's ability to finance the property is an important, if not the -------, contingency in most residential transactions, and a significant driver in the entire real estate-bas...

?Is an Agency Relationship Required - Technically, an agency relationship is not needed to assist a buyer during a transaction. Licensees can work with buyers informally as customers, eschewing any contractual agreement. Nor are agents of selling parties forbidden from providing assistance to buye...

_____ is the form that licensees are most likely to work with the most frequently. - One to Four Family Residential Contract (Resale) "Psychological stigmas," which involve violent or catastrophic events on a property, fall under which category of disclosure? - Permitted disclosures "psycholo...

A contract must have a legal purpose in order to be - Enforceable A contraction or Generally Slowing down of the economy is called ? - Recession A person not engaged in real estate brokerage, regardless of whether the person is licensed under this chapter, based solely on engaging in which of the...

A "net listing" is a listing agreement in which the broker's commission? - Is the difference ("net") between the sales proceeds and an amount desired by the owner of the real property. A contraction or generally slowing down of the economy is called which of the following? - Recession A lic...

A "COE" generally IS NOT available to - Dishonorably discharged persons A "COE" generally IS NOT available to: - Dishonorably discharged persons A "direct endorsement" lender has the authority to: - Perform underwriting of the loan on their own a $20,000 5-year loan with 5% simple interest...

A broker who fails to make it clear to all parties to a real estate transaction which party he or she is representing is normally punished through which of the following means? - A suspension of the broker's license A contract is terminated because the agent neglected to file all of the necessar...

70% of those who hold the CPM® designation: - hold the highest management positions in their offices (owner/partner/officer/director) A closing disclosure is a document that lists: - The fees and charges imposed on the borrower and the seller in a real estate transaction A CMA is what? - Compar...

A C.L.U.E. report advises a consumer on: - up to seven years of claims history on a property A contract must have a legal purpose in order to be: - enforceable A contraction or generally slowing down of the economy is a: - Recession. A counteroffer is: - a rejection of the original offer A licen...

____ is the form that licensees are most likely to work with the most frequently a. New Home Contract (Completed Construction) b. Addendum for Property Subject to Mandatory Membership in an Owners' Association c. Environmental Assessment, Threatened or Endangered Species, and Wetlands Addendum ...