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Texas Real Estate Principles 1 Exam 2024 questions & answers.
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Texas Real Estate Principles 1 Exam 2024 questions & answers.
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Texas Real Estate Principles 1 Exam2024 questions & answers.
Trec Commision Membership ANS -9 Members (6 brokers, 3 public) appointed by governor. They serve 6
year staggered term.
Texas Real Estate Borker Lawyer Committee ANS -13 Members (6 brokers, 6 lawyers, 1 public)
General Eligibility Requirements to be Licensed by TREC ANS -18 years old
a US citizen or lawfully admitted alien
resident of the state
A certificate is required seperate of the license when ANS -buying, selling or leasing an easement
pertaining to telecommunicaton, utility, railroad or pipeline services.
Payments into Trust Account ANS -ensures the availibility of a sufficient amount to pay on anticipated
claims on the trust account
A commission may suspend or revoke a license for ANS -acting negligently or incompetently, comingling
money and soliciting or selling offers for the sale of real estate by means of a lottery
An appeal can be made on a decision by the commission ANS -it must be taken to the district court in
the county where the administrative hearing was held.
When dealing with a client it is mandatory to give them ANS -A copy of the "Information about
brokerage services" form
The three Canons for professional ethics and conduct for Real Estate Licensees ANS -Fidelity, Integrity,
Competency
, Under what circumstances can a person be called a "Realtor?" ANS -That agent has to join the "NAR"
National Association of Realtors to be called a "Realtor"
What was the Fair Housing Laws or Civil Rights Act of 1866 ANS -FEDERAL LAW that where the only
protected class was Race. No one can discriminate because of RACE.
Civil Rights Act of 1968 ANS -Amended the Civil Rights Act of 1866 to include race, color, national origin,
religion,
Civil Rights Act of 1974 ANS -Amended to include Sex (Male or Female)
Civil Rights Act of 1988 ANS -Amended to include Handicap and Familial status
Define Handicapped ANS -having a physical or mental disability (including hearing, mobility, visual
impairment, chronic mental illness and AIDS) that substantially limits one or more major life activities.
Steering ANS -Illigal practice of directing home seekers to a particular neighborhood based on fair
housing protected classes. An agent cannot steer even if asked to by their client.
If a seller asks agent to discriminate ANS -agent must refuse to take the listing
ADA Americans with Disabilities Act ANS -enacted in 1992 deals with commercial property only
Personal Property ANS -Things not attached to the land
Chattel ANS -also known as Personal Property
How is Personal Property sold ANS -Bill of Sale
Classification of plants (Annual or fructus industrials or emblements) ANS -Personal Property
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