Aceable practice test - Study guides, Class notes & Summaries

ACEABLE REAL ESTATE PRINCIPALS 1 EXAM PRACTICE TEST

Principles 1 Aceable Practice Tests Exam Questios with 100% Correct Answers What is the money in the Recovery Trust Account used for? A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date - answerA) To pay an aggrieved party who has won a judgment against a l...

Principles 1 Aceable Practice Tests Exam Questions with 100% Correct Answers What is the money in the Recovery Trust Account used for? A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date - answerA) To pay an aggrieved party who has won a judgment against a l...

ACEABLE REAL ESTATE PRINCIPALS 1 EXAM PRACTICE TEST WITH COMPLETE SOLUTIONS A married couple purchased a primary residence for $600,000 in 2015. They lived there for seven years. In 2022, they sold the property for $1,000,000. How much profit will they owe capital gains tax on? -answer0 What is a REALTOR®? -answera member of the National Association of Realtors®. Which of the following is NOT a category of the NAR® Code of Ethics? -answerDuties to lenders Select the statement that de...

ACEABLE REAL ESTATE PRINCIPALS 1 EXAM PRACTICE TEST WITH COMPLETE SOLUTIONS A married couple purchased a primary residence for $600,000 in 2015. They lived there for seven years. In 2022, they sold the property for $1,000,000. How much profit will they owe capital gains tax on? -answer0 What is a REALTOR®? -answera member of the National Association of Realtors®. Which of the following is NOT a category of the NAR® Code of Ethics? -answerDuties to lenders Select the statement that de...

Insansintermediarystransaction,sthesconsequencesstosthessellersandsbuyersaresallsofsthesfollowingsEXCEPT: A)sTheyswillsnotshavesfullsdisclosuresfromsthesbrokersaboutsanythingsconfidentialsaboutsthesothersparty. B)sTheyswillsreceiveslimitedsfiduciarysdutiessfromsthesbroker. C)sTheyswillshavestostakesthestransactionsoutsofshouse. D)sTheyswillsnotshavescompletesloyaltysfromsthesbroker.s-sans--C)sTheyswillshavestostakesthestransactionsoutsofshouse. Sarahsissaslistingsagent.sWhenstalkingstos...

Principles 1 Aceable Practice Tests

Principles 1 Aceable Practice Tests

ACEABLE REAL ESTATE PRINCIPALS 1 EXAM PRACTICE TEST WITH COMPLETE SOLUTIONS A married couple purchased a primary residence for $600,000 in 2015. They lived there for seven years. In 2022, they sold the property for $1,000,000. How much profit will they owe capital gains tax on? -answer0 What is a REALTOR®? -answera member of the National Association of Realtors®. Which of the following is NOT a category of the NAR® Code of Ethics? -answerDuties to lenders Select the statement that de...

A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date -ANSWER- A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction Wesley just bought a house with a creek that flows along the south boundary. He wants...