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Texas Real Estate Exam and Math Questions and Answers 100% correct
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Texas Real Estate Exam and Math Questions
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Texas Real Estate Exam and MathQuestions
Which of the following is allowable in the course of business and does not constitute
grounds for license suspension or revocation? - answer Depositing earnest money
into a firm's escrow account is acceptable practice. Placing a "For Sale" sign without
permission of the owner, authorizing an unlicensed party to perform acts requiring
licensure, and administering a lottery are grounds for license suspension or revocation.
Illegal Actions - answer Discrimination, receipt of undisclosed commissions, and
failure to disclose information about latent structural defects
Is it legal for a broker to assist a buyer in obtaining a loan by giving the prospective
lender an inflated value for sales price on a property? - answer It is unlawful for
brokers to be parties to dual contracts, and such an action would put a broker in
jeopardy of losing his or her license or being fined by the commission.
What information must a real estate salesperson include in any advertisement that
specifies a specialty in residential property? - answer The sponsoring broker's name
must be included because all advertising is done in the broker's name.
The URLTA legislation states that if a lease does not have a clear expiration date, the
lease is - answer a tenancy from period-to-period.
A real estate salesperson wishes to sell her zero-lot home without using a broker. What
professional disclosure does the law require in this case? - answer It would be
sufficient for her to list her status as "owner-agent" when offering her home for sale.
What information, if any, is required to be included in a website advertising a broker's
firm? - answer In web site advertising, the broker must list the name of the company
or broker on each individual screen of the site.
Which of the following situations could be considered illegal in Texas and put a
licensee's license in jeopardy of suspension or revocation? - answer An agent signs
a listing agreement that allows the listing to continue indefinitely
Which of the following actions is a broker or licensed salesperson required to perform
after signing a listing agreement? - answer Upon obtaining a listing, the broker or
licensee must provide the seller signing the listing with a legible, signed, true, and
correct copy of the agreement.
, To which agency may a person bring a complaint of illegal discrimination? - answer
A person with a claim of illegal discrimination may take their case to HUD, or the Texas
Commission on Human Rights, or may choose to file suit in federal court.
What is the time limit on filing a fair housing complaint with the Texas Commission on
Human Rights? - answer 1 year
From what source may a Texas real estate salesperson legally collect compensation? -
answer From the salesperson's sponsoring broker
Termination of Sponsorship - answer When a sponsoring broker decides to
terminate his sponsorship of a salesperson, he must immediately return their license to
the Texas Real Estate Commission and notify the agent in writing of the termination.
What is the responsibility of an agent or broker, if any, to a seller who had previously
listed with the agent, but who has currently listed with a different brokerage? - answer
The broker can show the seller's property to current clients but cannot share any
confidential information previously obtained from the client.
For a buyer's representation agreement to be valid and enforceable in Texas it must be
- answer in writing and have a termination date not subject to prior notice; as such, it
is considered an employment contract.
The only requirement of an exclusive-right-to-sell listing agreement - answer is that it
must specify a definite termination date not subject to prior notice by either party.
When should a salesperson or broker present the "Seller's Disclosure of Property
Condition" to a buyer? - answer Prior to preparing a written offer for a buyer
When is it mandatory for the seller to provide a copy of the "Seller's Disclosure of
Property Condition"? - answer When the buyer has occupied the dwelling as a
tenant.
What is required of a seller's agent who shows a property to a prospective buyer? -
answer When a salesperson who is working for a seller agrees to show a property to
a prospective buyer, the salesperson must inform the buyer that the buyer's interests
will not be represented.
Which of the following must be disclosed to a prospective buyer - answer Although
violent deaths may be disclosed with the express permission of the owner, the only
requirement is for a broker or salesperson to disclose deaths related to the condition of
the property. Disclosure of an AIDS-related death is against fair housing laws.
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