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Texas Principles Of Real Estate 1 Exam prep Questions with Answers
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Texas Principles Of Real Estate 1Exam prep Questions with Answers
What is found in nearly every kind of listing agreement? - -Broker's
commission and commission fees
-What is NOT one of the five canons of ethics? - -Cooperation
-Which in NOT a recoverable damage under the DTPA - -punitive damages
-Situs refers to a location from which of these points of view? - -Economic-
based rather than a geographical standpoint
-brokers that will post on MLS for a small fee but are not associated with the
seller - -limited service brokers
-How long does a chapter 13 debtor have to reinvest the proceeds of his or
her home sale in a new homestead or lose their homestead tax exemption
status? - -6 months
-Which on of these is NOT one of the five duties owed by a fiduciary - -
Infidelity
-the seller must provide the buyer with a disclosure statement in the
statutorily required form, which includes disclosure of all the except - -
history of any HIV/AIDS infected individuals
-The AIBS form is required to be given to all of these prospective
participants in a transaction except - -other brokers
-In the rectangular survey system, what a straight, imaginary lines running
north and south and parallel to the principal meridian? - -range lines
-which of the following are common law fiduciary duties? - -care, obedience,
accounting, loyalty, disclosure
-How much money can a first time home buyer withdraw from their IRA
without being penalized? - -$10,000
-What is the difference between a class c and class s corporation? - -Class C
corporation does not have pass through taxation
-Mrs. Murphy Exemption does not allow for this type of discrimination? - -
Racial
, -What is the name of the governing body for real estate in texas? - -Texas
Real Estate Commission
-A C.L.U.E. report advises a customer on: - -up to seven years of claims
history on a property
-Mortgages are a common type of ____ lien - -consensual
-According to sec. 1101.159, the commission must ensure that the public is
able to interact with the commission in which of the following matters? - -On
the internet
-the executive director shall give notice or the commission's order to the
party under investigation. The notice must do which of the following? - -
Inform the person of their right of judicial review
State the amount of any penalty imposed
Include the findings of fact and conclusions of law, separately stated.
ALL OF THE ABOVE
-CFPB stands for - -Consumer Financial Protection Bureau
-A professional organization or association is usually a not-for- profit
organization that seeks to do what of the following? - -Further a particular
profession and the interests of individuals engaged in that profession
-A tenancy by the entirety between legally marries spouses differs from joint
tenancy because? - -A spouse cannot dispose of their interest without the
consent of the other spouse
-Which one of these is most likely a piece of information that needs to be
disclosed in a real estate sales transaction of a residential property? - -
Someone was murdered on the property
-The first multiple listing service in the U.S began in which city? - -Baltimore
-A licensee is liable for a misrepresentation or concealment of a material
fact made by a party to a real estate transaction in which of these
circumstances? - -The licensee knew of the concealment or
misrepresentation and failed to disclose their knowledge of it.
The licensee was relying on a non-expert third party's representation without
confirming or attempting to confirm
The licensee did not know of the misrepresentation or concealment but
should have known if they had performed their due diligence
ALL OF THE ABOVE
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