AYPO - Texas - Principles of Real Estate 1 questions with correct answers
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Course
Real Estate
Institution
Real Estate
What is the name of the governing body for real estate in Texas?
A. Texas Real Estate Constitution (TREC)
B. Texas Real Estate Counselors (TREC)
C. Texas Real Estate Council (TREC)
D. Texas Real Estate Commission (TREC) Correct Answer-D) Texas Real Estate Commission (TREC)
TREC has the autho...
AYPO - Texas - Principles of Real Estate 1 questions
with correct answers
What is the name of the governing body for real estate in Texas?
A. Texas Real Estate Constitution (TREC)
B. Texas Real Estate Counselors (TREC)
C. Texas Real Estate Council (TREC)
D. Texas Real Estate Commission (TREC) Correct Answer-D) Texas
Real Estate Commission (TREC)
TREC has the authority under TRELA to suspend or even revoke a
broker's license if:
A) they conduct the unauthorized practice of negotiation.
B) they conduct the unlicensed practice of property management.
C) they conduct the unlicensed practice of property development.
D) they conduct the unlawful practice of Law. Correct Answer-D) they
conduct the unlawful practice of Law
ESAC stands for:
A) Education Systems Assistance Corporation
B) Education Standards Advisory Committee
C) Employment Standards Advisory Committee
D) Employment Standards Advisory Committee Correct Answer-B)
Education Standards Advisory Committee
,What refers to a location from an economic rather than a geographic
standpoint?
A) Situs
B) Homogeneity
C) Immobility
D) Topography Correct Answer-A) Situs
Which amendment guarantees that a citizen will not be deprived of
property without due process of law?
A) 14th Amendment
B) 2nd Amendment.
C) 5th Amendment.
D) No amendment covers this eventuality. Correct Answer-C) 5th
Amendment.
The CFPB is the:
A) Consumer Financial Protection Bureau
B) Customer Financial Protection Bureau
C) Consumer Fiscal Protection Bureau
D) Client Financial Protection Bureau Correct Answer-A) Consumer
Financial Protection Bureau
A professional organization or association is usually a not-for-profit
organization that seeks to:
A) find new revenue sources to grow the organization.
,B) further a particular profession and the interests of individuals
engaged in that profession.
C) allow like-minded individuals to exclusively meet to discuss business
issues with each other.
D) hold educational seminars for the public to make them aware of the
organization. Correct Answer-B) further a particular profession and the
interests of individuals engaged in that profession.
Which of these IS NOT a type of real property value?
A) Assessed value
B) Estimated sales value
C) Replacement value
D) Future estimated value Correct Answer-D) Future estimated value
A contraction or generally slowing down of the economy is a:
A) Recession.
B) Expansion.
C) Depression.
D) Revival. Correct Answer-A) Recession.
What is the primary purpose for real estate licensing laws?
A) To protect the general public during real estate transactions from
dishonest or incompetent brokers and sales agents.
B) To set out minimum standards and qualifications for licensing
brokers and sales agents.
, C) To protect licensed brokers and sales agents from unfair or improper
competition.
D) All of these answers are correct. Correct Answer-D) All of these
answers are correct.
Per 1101.2051(b), information or material prepared or compiled by the
commission in connection with a complaint, investigation, or audit may
be disclosed:
A) it may not be disclosed under any circumstances.
B) to the respondent of the complaint.
C) to a legal representative of the complainant.
D) to a citizen writing in a complaint against a licensee. Correct Answer-
B) to the respondent of the complaint.
According to Sec. 1101.159, the commission must ensure that the public
is able to interact with the commission:
A) in the Texas Legislature.
B) in TREC meetings.
C) on the Internet.
D) in person. Correct Answer-C) on the Internet.
Investment permanence is another term for:
A) Scarcity
B) Situs
C) Fixity
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