Exam (elaborations)
TEXAS REAL ESTATE PRACTICE EXAM 1
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TEXAS REAL ESTATE PRACTICE EXAM 1
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TEXAS REAL ESTATE PRACTICE EXAM 1Who promulgates forms for mandatory use by Texas brokers and salespersons? -
Answers-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 - Answers-Community Property
Regarding community property, which of the following is TRUE? - Answers-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 - Answers-Unsecured
creditors
In Texas, who is authorized to draft deeds, mortgages, deeds of trust, and notes? -
Answers-An attorney licensed to practice law
In Texas, licenses are renewed - Answers-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 - Answers-
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 -
Answers-No
Which would be considered acting in a lawful position as an intermediary? - Answers-
Appointed 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 - Answers-
Appointed 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 -
Answers-$5000 for each day the violation continued
If engaged in real estate brokerage activities, which persons are exempt from the real
estate license he requirement - Answers-Attorneys at the law licensed in Texas
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