Exam (elaborations)
Texas Real Estate Practice exam 1 Questions with Accurate Answers
- Course
- Institution
Texas Real Estate Practice exam 1
[Show more]
Content preview
Texas Real Estate Practice exam 1Who promulgates forms for mandatory use by Texas brokers and salespersons? -
answer Texas Real Estate Commission
In Texas, unless stated to the contrary in a deed, ownership of land by a married couple
is assumed to be by - answer Community Property
Regarding community property, which of the following is TRUE? - answer Neither
spouse may sell any real estate owned as part of their community property, unless both
spouses sign the sales contract and deed.
A homestead is protected against judgments that result from - answer Unsecured
creditors
In Texas, who is authorized to draft deeds, mortgages, deeds of trust, and notes? -
answering attorney licensed to practice law
In Texas, licenses are renewed - answer In the month issued
A consumer prevails in a suit for a cause of action involving the Texas deceptive trade
practices Act. The maximum the consumer may be awarded by the court is - answer
Actual damages, court costs, attorney fees, and up to treble damages if the court finds
conduct committee knowingly or intentionally
A seller has no knowledge of any plumbing system problems on the property the seller
is selling. In actuality, however, the pipes are seriously corroded and will need to be
replaced soon. On the sellers disclosure of property condition, when responding to
whether the seller is aware of plumbing system problems, the seller should enter -
answerNo
Which would be considered acting in a lawful position as an intermediary? -
answerAppointed licensees communicating with and caring out the instructions of
different principles in one transaction
Which would be considered acting in a lawful position as an intermediary -
answerAppointed licensee communicating with and caring out instructions of different
principles in one transaction
As a result of a hearing, it was determined that a licensee had violated a provision of the
licensing act the maximum administrative penalty for the violation may not exceed -
answer$5000 for each day the violation continued
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jw638729. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now