Texas State Exam -2 (Prep Agent) Questions and Answers 2024
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Course
State of Texas security level 2
Institution
State Of Texas Security Level 2
Texas State Exam -2 (Prep Agent) Questions and Answers 2024
How soon following the closing of a transaction may a broker receive a commission check?
After the transaction is completed and funded
A license holder in violation of the TRELA has received a summons from the Texas Real Estate Co...
Texas State Exam #2 (Prep Agent)
Questions and Answers 2024
How soon following the closing of a transaction may a broker receive a commission
check? - answer After the transaction is completed and funded
A license holder in violation of the TRELA has received a summons from the Texas
Real Estate Commission that a hearing will be held regarding the possible revocation or
suspension of his license. The license holder fails to respond to the summons. What will
the Texas Real Estate Commission do? - answer Enter a default order against the
licensee.
A seller of a property will continue to occupy the premise for 14 days after the closing
day. How should this be handled in the sales contract? - answer The Seller's Temporary
Residential Lease form should be used
Which of the following statements is true of a security deposit? - answer A security
deposit must be returned to the tenant within 30 days of the end of the lease unless the
property has been damaged.
What TREC promulgated form should be incorporated into the contract when a buyer
wants to obtain possession before the closing and funding of the transaction? -
answerThe Buyer's Temporary Lease Addendum
What is the criminal penalty for engaging in the real estate brokerage business in Texas
without first becoming licensed by TREC? - answerA Class A misdemeanor punishable
by confinement of up to one year in a county jail and a fine of up to $4,000
Which of the following actions is a broker or licensed sales agent required to perform
after signing a listing agreement? - answerProvide the seller a legible, signed, true, and
correct copy of the listing
To which agency may a person bring a complaint of illegal discrimination? - answerTo
the Department of Housing and Urban Development or the Texas Commission on
Human Rights
A licensed real estate sales agent is working at a small brokerage in San Antonio.
Which of the following functions can she NOT perform without an agency agreement? -
answerHolding monies for disbursement in escrow until closing
A sales agent may accept a commission directly from: - answerHis broker
, Which of the following statements regarding mold and mold remediation is false? -
answerIf mold is visible, it must be remediated
Which of the following types of real estate licensees is required to display their license
prominently at their place of business? - answerOnly licensees who are residential
rental locators are required to display their licenses
A broker sponsors only one associate license holder. He has a listing and a buyer client
who wants to purchase that listing. What is true? - answerThe broker can act as
intermediary with written consent from both parties.
All approved CE classes include: - answereight hours of legal update
A listing agent must disclose which of the following facts to a prospective buyer? -
answerThe existence of any covenants, conditions, and restrictions
Which of the following is the responsibility of the broker? - answerThe listing
advertisements of the sales agents he sponsors
Which of the following situations could be considered illegal in Texas and put a
licensee's license to practice real estate in jeopardy of suspension or revocation? -
answerAnna signs a listing agreement that allows the listing to continue indefinitely.
Who is responsible for filling in the effective date of the real estate sales contract? -
answerThe broker
Homestead protection serves what purpose? - answerTo protect a homeowner's equity
Payments from the Real Estate Recovery Fund are limited to what aggregate amount
for claims arising from a single transaction? - answer$50,000
Which of the following statements about the Texas Real Estate Commission is false? -
answerThe state association of REALTORS appoints the commission's members.
How much notice must a landlord give a delinquent tenant, in writing, before filing an
action to evict? - answer3 days
Landlords must refund the tenant security deposits within: - answerthirty days of
vacating the property.
What is required for a broker to act as an intermediary? - answerWritten authorization in
the Buyer/Tenant Representation Agreement and the Listing Agreement.
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