TEXAS PRINCIPLES 1 EXAM ACTUAL EXAM 150 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ASNWERS) |ALREADY GRADED A+ Latest Update
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TEXAS PRINCIPLES
Institution
TEXAS PRINCIPLES
Samantha is a real estate licensee. She's showing her client a property. The client asks about
some spots on the ceiling and wonders if they're an indication of a roof leak. What should
Samantha do?
Suggest that her client contact a roofing expert to make a determination.
Buying and selli...
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TEXAS PRINCIPLES 1 EXAM 2024-2025
ACTUAL EXAM 150 QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES (VERIFIED ASNWERS)
|ALREADY GRADED A+ Latest Update
Samantha is a real estate licensee. She's showing her client a property. The client asks about
some spots on the ceiling and wonders if they're an indication of a roof leak. What should
Samantha do?
✓ Suggest that her client contact a roofing expert to make a determination.
✓
✓ Buying and selling homes is Samantha's area of expertise, not identifying roof leaks. She
shouldn't offer an opinion about whether the roof leaks, but she should suggest contacting
an expert in this field.
Not wanting to delay closing, Alice, the seller's agent, didn't disclose when the seller informed
her a week before closing that the water heater needed to be replaced. Which fiduciary duty
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✓ Covers the gap between the actual loan amount and 80% of the LTV
✓
✓ Private mortgage insurance (PMI) is used on conventional loans that are taken out for
more than 80% of the LTV. It covers the gap between the actual loan amount and 80%
of the LTV.
A real estate licensee is acting as what type of agent when assigned by the broker to
represent one party in an in-house transaction?
✓ Designated
What's the purpose of the ECOA?
✓ To prevent discrimination in lending
Acme Realty offers discounted services. Berringer Realty and Hawthorne Real Estate Group
decide to not show any of Acme's listings and to prohibit showings from Acme buyers to drive
Acme out of business. What is this an example of?
✓ Group boycotting
How do licensees create implied agency?
✓ Through the parties' actions
Tina has fee simple ownership of her timeshare unit. Which of these is NOT an example of the
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A) Interval ownership
b) Right-to-use
c) Tenancy in common
d) Timeshare estate
✓ b
Why is right-to-use not an example of a fee simple ownership of a timeshare unit?
✓ Fee simple ownership of a timeshare (aka timeshare estate) unit means that the owner may
share tenancy in common with other timeshare owners or may have an interval ownership.
A right-to-use timeshare is a lease agreement, not an ownership interest.
Which of the following is NOT a good method for real estate companies to avoid penalties
for making accidental calls to numbers on the DNC list?
a) Calling consumers on the DNC list for four weeks after they are added to the registry
b) Documenting the process used in making calls
c) Training staff on procedures
d) Updating records as required
✓ a
In Texas, when is a licensee required to provide an agency disclosure to the party they are
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