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STATE PORTION OF TEXAS REAL ESTATE EXAM 2 UPDATED ACTUAL EXAM
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STATE PORTION OF TEXAS REAL ESTATE EXAM 2 UPDATED ACTUAL EXAM
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STATE PORTION OF TEXAS REALESTATE EXAM 2 UPDATED ACTUAL
EXAM QUESTIONS AND CORRECT
ANSWERS
a Errors and Omissions Insurance - Correct answer.Generally covers a broker and their associates for
errors and mistakes made in common listing and selling activities.
If broker owns <10% than they need $1,000,000 in insurance.
Late MCE Requirements - Correct answer.$200 deferral fee, complete MCE within 60 days of renewed
license.
Penalty fee: $250.
Filing fee: $20.
Change Salesperson Sponsorship - Correct answer.Broker notifies salesperson in writing and returns
sales license to commission for inactive status.
License Maintenance/Renewal - Correct answer.Salesperson- 18 semester hours and 15 MCE hours
every 2 years to include 3 ethics and 3 legal.
Broker- 15 hours MCE every 2 years to include 3 ethics and 3 legal (if sponsoring sales then 6 mandatory
broker responsibility)
Appeals of Denial - Correct answer.Appeal within 10 days of denial notice receipt, if no prevail then can
appeal district court.
Education - Correct answer.Salesperson- 180 class hours (12 sem hrs)
Broker- 900 core hours/270 class hours (30 brokerage), 3600 points, 1 transaction per year.
Documented to TREC, 1 year to pass exam.
, Sales Points - Correct answer.Single family home= 300
Closed purchase/sale apartment complex with 5+ units = 450
Listing/Buyer Rep Agreement = 10
Executed lease = 50
Corporations - Correct answer.Designate one officer to act on licensing as RE broker.
Appraiser - Correct answer.General Certified RE Appraiser: 300 class hours/Bachelors or 30 semester
hours in eng., micro econ, macro econ, fin, stat, bus, and RE law.
Residential Certified RE Appraiser: 200 class hours/Associates or 21 semester hours in (listed above).
State Licensed RE Appraiser and Provisional Licensed RE Appraiser: 150 class hours.
Appraiser Trainee: 75 class hours/RE courses (60), National USPAP (15).
Inspector - Correct answer.Professional Inspection: Professional license required.
Real Estate Inspector: Licensed and under supervision by professional inspector.
Apprentice Inspector: licensed and under supervision of either professional inspector or RE inspector.
All home inspectors: Liability Insurance >$1,000,000/event.
Must use promulgated forms for residential inspections.
Easement or Right of Way - Correct answer.Cannot be sold, bought, leased, or transferred for another
for compensation for use in telecommunication, utility, R/R, pipeline UNLESS: licensed broker/sales,
exempt from act, registered with commission under subchapter K.
Application for this requires background check and fingerprinting.
Redlining - Correct answer.Refusal of a loan or insurance to someone because they live in a certain area
deemed to be a poor financial risk.
Example: A potential buyer was financially sound and has excellent credit, but was turned down by the
lender because the location of the property.
Salespersons Sponsoring Broker - Correct answer.Responsible to the TREC, the public, and the clients for
the action of a salesperson.
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