Exam (elaborations)
Texas Real Estate Practice exam 1 Questions with Accurate Answers
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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? -
answer 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 - answer Community Property
Regarding community property, which of the following is TRUE? - answer 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 - answer Unsecured
creditors
In Texas, who is authorized to draft deeds, mortgages, deeds of trust, and notes? -
answering attorney licensed to practice law
In Texas, licenses are renewed - answer 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 - answer
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 -
answerNo
Which would be considered acting in a lawful position as an intermediary? -
answerAppointed 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 -
answerAppointed 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 -
answer$5000 for each day the violation continued
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