Texas State Portion Real Estate Exam Questions and Answers Latest 2024/2025 with complete solutions
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Course
Texas State Portion Real Estate
Institution
Texas State Portion Real Estate
A licensee avoids mentioning negative important facts that he or she knows to be true in his or her
presentation to a potential purchaser of real property. The licensee: - may be charged with
misrepresentation by omission.
A licensee in Texas may not practice law, unless licensed and authorized ...
Texas State Portion Real Estate Exam
A licensee avoids mentioning negative important facts that he or she knows to be true in his or her
presentation to a potential purchaser of real property. The licensee: - may be charged with
misrepresentation by omission.
A licensee in Texas may not practice law, unless licensed and authorized to do so in Texas. Practicing law
includes altering contracts, or drawing up: - a deed, deed of trust, will, or other written
instrument that may transfer or affect the title to land.
A community property with rights of survivorship agreement must: - doesn't need to go through
probate, must be signed by both spouses, must include the property description, be in writing, contain
wording that makes evident the intent of survivorship, and be recorded in the county courthouse.
To be legally entitled to a commission related to a real estate transaction, agent Richard Rock must be all
of the following EXCEPT
A. licensed.
B. authorized to be involved in the marketing effort.
C. the procuring cause of the transaction.
D. under contract to either the buyer or seller. - under contract to either the buyer or seller.
A broker has a duty to provide what two things to his sponsoring agents? - Supervision and
evaluation
A broker is obligated by law to treat his or her client: - honestly
A broker may define the sponsored agent's general duties and authority, but not - how the agent
does his business.
,A broker may do which of the following for an individual without actually representing the individual? -
A broker may obtain financing, assist in locating a property, and prepare a contract or lease for an
individual without representing the individual.
A broker must maintain a place of business in the state of Texas. If the location changes, the broker has
how long to notify the commission? - The broker must notify the commission of any change of
address within 10 days.
A broker who places earnest monies in the company's operating account is guilty of what? -
commingling
A claim from the recovery fund is paid only if: - the licensee has no assets that can be used to
satisfy a judgment.
A competitive market analysis usually contains - average price per square foot, closing date of sold
com parables, and days on market of comparables.
a comprehensive buyer representation agreement would address the - duties of the agent,
termination date, and compensation agreement.
A contract contains a clause stating that "time is of the essence". This clause indicates that: - any
time limitations indicated in the contract must be strictly met.
A contract may be terminated by: - default, performance, mutual agreement, rescission, or by the
fact that it is impossible to perform.
A contract which was signed by a minor is - voidable by the minor, but not by the other party.
A deed is the instrument used to convey ownership of - real property.
, A homestead sold for delinquent taxes may be redeemed within ______ of the sale. - 2 years.
Other properties may be redeemed within six months.
a latent defect are - those that cannot be seen by a normal prudent inspection.
A legal description that includes phrases such as "starting at the intersection of Smith and Baird roads
and proceeding westerly 150 feet to a stream" is referred to as - metes and bounds
A licensee must disclose any existing agency relationships to a new client. This disclosure: - may
be done orally or in writing.
A listing agent would NOT be required to disclose - that the sellers are facing bankruptcy if the
house does not sell quickly.(Material defects must be disclosed. Relationship to the client must be
disclosed. Personal confidential information must never be disclosed.)
A listing agreement must contain: - a standard street address is sufficient.
A loan in which the borrower pays interest only over the life of the loan and then pays the entire
principal at maturity of the loan is called? - a term loan
A number of young people have been injured in skateboarding accidents within the city park, so the city
council has passed a resolution prohibiting skateboarding within public areas. The action is taken in
accordance with the city's: - police powers. Local governments may enact laws that protect the
public health, safety, or welfare.
A property owner may claim a homeowner's exemption in Texas on a residence that is both owned and
occupied. The exemption reduces the assessed value of the residence by - $7,000 dollars
A real estate broker who is convicted of making false, deceptive, and misleading statements may face: -
a financial penalty up to three times the amount of the actual damages. Under Section 15 of
TRELA, the licensee may also have his or her license revoked or suspended.
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