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The Education Standards Advisory Committee is made up of: A. 12 members B. 13 members C. 9 members D. 14 members - ANSWERSA. 12 members The Commission issues a license to a salesperson after: A. The person has at least 6 years sales experience. B. The person is 25 years old. C. The per...
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Add to cartThe Education Standards Advisory Committee is made up of: A. 12 members B. 13 members C. 9 members D. 14 members - ANSWERSA. 12 members The Commission issues a license to a salesperson after: A. The person has at least 6 years sales experience. B. The person is 25 years old. C. The per...
Which of the following is chattel? A. Detached garage B. Attached satellite dish owned by the seller C. Washer/Dryer D. In ground pool Rationale: The correct answer is C. The definition of chattel is personal property. Only the washer and dryer are not attached to the real property. - ANSWERSC....
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Add to cartWhich of the following is chattel? A. Detached garage B. Attached satellite dish owned by the seller C. Washer/Dryer D. In ground pool Rationale: The correct answer is C. The definition of chattel is personal property. Only the washer and dryer are not attached to the real property. - ANSWERSC....
An example of an appurtenance to land is: A. An easement in gross B. A bill of sale C. An assignment D. A sublet - ANSWERSRationale: A is the correct answer. Appurtenances are those rights, privileges, and improvements that belong to and pass with the transfer of real property but are not necess...
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Add to cartAn example of an appurtenance to land is: A. An easement in gross B. A bill of sale C. An assignment D. A sublet - ANSWERSRationale: A is the correct answer. Appurtenances are those rights, privileges, and improvements that belong to and pass with the transfer of real property but are not necess...
For a sum of money negotiated between the parties, the buyer has a time period, stated in this paragraph, for the "unrestricted right" to terminate. Which paragraph does this reference? : A. Sales price paragraph B. Earnest money paragraph C. Option money paragraph D. Repairs escrow paragr...
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Add to cartFor a sum of money negotiated between the parties, the buyer has a time period, stated in this paragraph, for the "unrestricted right" to terminate. Which paragraph does this reference? : A. Sales price paragraph B. Earnest money paragraph C. Option money paragraph D. Repairs escrow paragr...
T2. According to TREC rules, when MUST you inform a seller about the market value of their home? A. When the offer is presented B. When the listing is taken C. Upon first face-to-face meeting with the seller D. TREC rules don't require you to inform the seller of the market value. - ANSWERSB....
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Add to cartT2. According to TREC rules, when MUST you inform a seller about the market value of their home? A. When the offer is presented B. When the listing is taken C. Upon first face-to-face meeting with the seller D. TREC rules don't require you to inform the seller of the market value. - ANSWERSB....
N1. Personal property which has been converted to real property by method of attachment is: A. A fixture B. A trade fixture C. Emblements D. None of the above - ANSWERSA. A fixture. A trade fixture is installed by a tenant and is removable by the tenant before the lease term expires. Emblements ...
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Add to cartN1. Personal property which has been converted to real property by method of attachment is: A. A fixture B. A trade fixture C. Emblements D. None of the above - ANSWERSA. A fixture. A trade fixture is installed by a tenant and is removable by the tenant before the lease term expires. Emblements ...
Most lawsuits involve issues of who did or did not represent whom. The number of lawsuits: A. Are increasing B. Are decreasing C. Have stabilized over the last several years D. Are not allowed - ANSWERSA. Are increasing We study agency because: A. The Texas Real Estate Commission requi...
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Add to cartMost lawsuits involve issues of who did or did not represent whom. The number of lawsuits: A. Are increasing B. Are decreasing C. Have stabilized over the last several years D. Are not allowed - ANSWERSA. Are increasing We study agency because: A. The Texas Real Estate Commission requi...
N5. A person who is NOT licensed and sells and receives commission or offers to sell a property for another person: A. Has violated the law in every case B. Has not violated the law if he only did it once C. Has not violated the law if he did it in conjunction with a real estate agent D. Cannot ...
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Add to cartN5. A person who is NOT licensed and sells and receives commission or offers to sell a property for another person: A. Has violated the law in every case B. Has not violated the law if he only did it once C. Has not violated the law if he did it in conjunction with a real estate agent D. Cannot ...
Use of the TREC promulgated One to Four Family Residential Contract (Resale): A. Is allowed on the sale of a residential condominium B. Can be used for a vacant residential lot C. Covers single family, duplex, triplex, and fourplex transactions D. All of the above Rationale: The correct answer ...
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Add to cartUse of the TREC promulgated One to Four Family Residential Contract (Resale): A. Is allowed on the sale of a residential condominium B. Can be used for a vacant residential lot C. Covers single family, duplex, triplex, and fourplex transactions D. All of the above Rationale: The correct answer ...
For a sum of money negotiated between the parties, the buyer has a time period, stated in this paragraph, for the "unrestricted right" to terminate. Which paragraph does this reference? : A. Sales price paragraph B. Earnest money paragraph C. Option money paragraph D. Repairs escrow paragr...
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Add to cartFor a sum of money negotiated between the parties, the buyer has a time period, stated in this paragraph, for the "unrestricted right" to terminate. Which paragraph does this reference? : A. Sales price paragraph B. Earnest money paragraph C. Option money paragraph D. Repairs escrow paragr...
T1. The six non-public members of the Texas Real Estate Commission are: A. Licensed salesmen B. Appointed by the Senate and approved by the Governor C. Are not actively engaged in real estate and serve the purpose of protecting the public D. Licensed brokers - ANSWERSD. Licensed brokers. The Tex...
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Add to cartT1. The six non-public members of the Texas Real Estate Commission are: A. Licensed salesmen B. Appointed by the Senate and approved by the Governor C. Are not actively engaged in real estate and serve the purpose of protecting the public D. Licensed brokers - ANSWERSD. Licensed brokers. The Tex...
T3. A license holder has taken a listing on a property and is using a lottery to sell the property. This is: A. Grounds for suspension or revocation of license B. Lawful if they obey the Texas State Lottery Law C. Allowed because the seller request this type of sale D. Only allowed if the seller...
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Add to cartT3. A license holder has taken a listing on a property and is using a lottery to sell the property. This is: A. Grounds for suspension or revocation of license B. Lawful if they obey the Texas State Lottery Law C. Allowed because the seller request this type of sale D. Only allowed if the seller...
N3. The market value of a parcel of real estate is: A. Its cost B. Its value without improvements C. An estimate of the most probable price it should bring D. A measure of past expenditures - ANSWERSC. An estimate of the most probable price it should bring. Market price is the sold price. Value ...
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Add to cartN3. The market value of a parcel of real estate is: A. Its cost B. Its value without improvements C. An estimate of the most probable price it should bring D. A measure of past expenditures - ANSWERSC. An estimate of the most probable price it should bring. Market price is the sold price. Value ...
Use of the TREC promulgated One to Four Family Residential Contract (Resale): A. Is allowed on the sale of a residential condominium B. Can be used for a vacant residential lot C. Covers single family, duplex, triplex, and fourplex transactions D. All of the above Rationale: The correct answer ...
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Add to cartUse of the TREC promulgated One to Four Family Residential Contract (Resale): A. Is allowed on the sale of a residential condominium B. Can be used for a vacant residential lot C. Covers single family, duplex, triplex, and fourplex transactions D. All of the above Rationale: The correct answer ...
The Education Standards Advisory Committee is made up of: A. 12 members B. 13 members C. 9 members D. 14 members - ANSWERSA. 12 members The Commission issues a license to a salesperson after: A. The person has at least 6 years sales experience. B. The person is 25 years old. C. The per...
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Add to cartThe Education Standards Advisory Committee is made up of: A. 12 members B. 13 members C. 9 members D. 14 members - ANSWERSA. 12 members The Commission issues a license to a salesperson after: A. The person has at least 6 years sales experience. B. The person is 25 years old. C. The per...
T4. When is an agent required to present a prospective seller with the Information About Brokerage Services (IABS) form? A. When the property is sold B. At the first substantive discussion about a specific property C. When the seller receives the first offer on the property D. At the closing of ...
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Add to cartT4. When is an agent required to present a prospective seller with the Information About Brokerage Services (IABS) form? A. When the property is sold B. At the first substantive discussion about a specific property C. When the seller receives the first offer on the property D. At the closing of ...
What is a legal description that starts at the point of beginning, describes the property's boundaries, and returns to the point of beginning? A. A lot and block description B. A metes and bounds description C. A recorded plat D. A government survey system - ANSWERSRationale: B is the correct...
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Add to cartWhat is a legal description that starts at the point of beginning, describes the property's boundaries, and returns to the point of beginning? A. A lot and block description B. A metes and bounds description C. A recorded plat D. A government survey system - ANSWERSRationale: B is the correct...
N7. The instrument that the purchaser gives promising to pay back a loan is a: A. Mortgage B. Lien C. Deed of trust D. Note - ANSWERSD. Note. The promissory note, often called the "note," is the promise made by the buyer to the lender to repay the loan. N7. Who must sign the mortgage an...
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Add to cartN7. The instrument that the purchaser gives promising to pay back a loan is a: A. Mortgage B. Lien C. Deed of trust D. Note - ANSWERSD. Note. The promissory note, often called the "note," is the promise made by the buyer to the lender to repay the loan. N7. Who must sign the mortgage an...
T4. When is an agent required to present a prospective seller with the Information About Brokerage Services (IABS) form? A. When the property is sold B. At the first substantive discussion about a specific property C. When the seller receives the first offer on the property D. At the closing of ...
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Add to cartT4. When is an agent required to present a prospective seller with the Information About Brokerage Services (IABS) form? A. When the property is sold B. At the first substantive discussion about a specific property C. When the seller receives the first offer on the property D. At the closing of ...
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