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Texas Real Estate principles section 1 questions with correct answers.
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Texas Real Estate principles section 1questions with correct answers.
referral ANS -A recommendation by an existing or previous client that helps cultivate and expand
business is a(n):
4 ANS -Of the total amount of members, the Committee has _____ members who are real estate
instructors or owners of TREC-approved real estate schools.
Independent Contractor ANS -An individual who chooses the method to use in completing contracted
work is a(n):
cold calling ANS -What prospecting strategy entails a licensee making unsolicited calls to individuals he
or she does not know
steps ANS -Changes in the real estate market occur through all of the following, except:
Be trustworthy, honest, and have integrity ANS -In addition to the legal requirements, to be eligible to
get a Texas real estate sales agent or broker license, the person must also:
Limited Liability Company ANS -Which of the following is a business entity that has characteristics of
both corporations and limited partnerships?
Goodwill ANS -By observing the code of ethics, members of local, state, and national trade associations
promote __________ and harmony and further the interests of the real estate industry as well as the
public.
TREC ANS -The __________ enforces the provisions of TRELA and determines administrative policy.
Pay for his or her license ANS -Typically, a new licensee's first expense will be to:
, Real Estate Board ANS -A __________ is made up of members who share an interest in the business of
real estate.
Texas Legislature ANS -The __________ enacts statutes affecting the entire state, and city councils pass
local laws affecting the residents of the city.
Combats dishonesty among real estate brokers and their sales agents, requires real estate brokers and
their sales agents to have licenses, and stops fraudulent activities among real estate brokers and their
sales agents. ANS -TRELA does which of the following?
Real Estate License Act ANS -The __________ serves to protect the public in real estate transactions
involving a real estate license holder.
Texas Administrative Code (TAC) ANS -Most of the regulations issued by Texas state agencies are
compiled in the:
using features, current inventory of homes, architectural styles ANS -A real estate licensee should be
knowledgeable about __________ within the community.
$5,000 ANS -TREC can pursue administrative penalties not to exceed __________ for each violation.
Market Segmentation ANS -Specific real estate markets have submarkets. __________ is the process of
identifying and analyzing submarkets within these larger markets.
Ethics ANS -__________ is a set of principles or values by which an individual guides his or her own
behavior and judges that of others.
Real Estate License Act ANS -License holders are required to follow the provisions of __________ in all
transactions and to deal with the public in a competent and honest manner.
cyclical ANS -The relationship between demand and supply makes the real estate markets:
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