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Champions Real Estate Exam Prep (Texas)
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Champions Real Estate Exam Prep (Texas)
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Champions Real Estate Exam Prep (Texas)In ______ the Texas Real Estate Commission was established to administer and
enforce the TRELA. - CORRECT ANSWER-1949
TREC has only _______ promulgated lease forms. - CORRECT ANSWER-2
In the TAR® Seller's Disclosure the seller should _______.
a. prepare the disclosure when the listing is taken
b. be the only one completing this form or any part of it
c. none of the above
d. both a and b - CORRECT ANSWER-d. both a and b
The _______ statute provides that the sender's message must contain clear and
conspicuous notice that the message is an advertisement or solicitation.
a. CAN-SPAM
b. Interstate Land Sales Full Disclosure Act
c. Do Not Call
d. Junk Fax Prevention Act - CORRECT ANSWER-CAN-SPAM
A ________ is a possible polluter who may be held liable under CERCLA for the
contamination of a property or resource.
a. Safe Harbor
b. EBR
c. PRP
d. TMARR - CORRECT ANSWER-PRP
If you hire a mold remediator he must give you a Certificate of Mold Remediation
no later than ___ days after work is complete. - CORRECT ANSWER-10
In order to comply with the _______, contracts for the conveyance of an interest
in real estate or leases for a term of more than one year must be in writing.
,a. SAFE Act
b. Statute of Frauds
c. Statue of Limitations
d. RESPA - CORRECT ANSWER-Statute of Frauds
A unilateral contract is said to lack __________.
a. Mutuality
b. Fairness
c. Agreement
d. Signatures - CORRECT ANSWER-Mutuality
Contracts with a person who lacks mental capacity can be either void or
_____________.
a. Implied
b. Unilateral
c. Voidable
d. Express - CORRECT ANSWER-voidable
All of the land in the U.S. is held under the ________ system.
a. Feudal
b. Freedom
c. Statutory
d. Allodial - CORRECT ANSWER-Allodial
The main reason(s) for homestead laws include(s):
a. Preventing the foreclosure of the homestead under any circumstances
b. Prevention of the forced sale of a home by creditors
c. Protection of a creditor's interests in a debtor's property
d. All of these are correct - CORRECT ANSWER-
In many states, recognized statutory estates include _______.
a. community property
,b. riparian right
c. reservation
d. encroachment - CORRECT ANSWER-community property
Only a _______ may earn a commission and only a _______ may sue to collect
a commission.
a. broker, agent
b. agent, broker
c. broker, broker
d. none of the above - CORRECT ANSWER-broker, broker
Regardless of representation, all buyers should be provided with a(n) _______
disclosure of representation at first contact.
a. oral
b. written
c. email
d. all of these are correct - CORRECT ANSWER-d. all of these are correct
This _______ is an employment contract.
a. listing agreement
b. buyer-representation
c. both a and b
d. none of the above - CORRECT ANSWER-c. both a and b
What does a real estate agent do with multiple offers on a property?
a. He/she can choose the best offer for the client.
b. He/she can hold all offers until one comes in that is over the asking price.
c. He/she may present the highest offers only.
d. He/she must present all offers to the client. - CORRECT ANSWER-d. He/she
must present all offers to the client.
An offer can be communicated by ________.
, a. letter
b. phone
c. either a or b
d. must be done orally - CORRECT ANSWER-c. either a or b
A permanent marker installed on the land by a surveyor is called ______.
a. a monument
b. metes
c. bounds
d. a lot - CORRECT ANSWER-a. a monument
Ownership of real property can be divided among _______.
a. surface rights
b. air rights
c. subsurface rights
d. any and all of the above
Which of the following is NOT considered a common addenda form?
a. Exclusive Right to Sell
b. Financing addendum
c. Mineral reservations
d. Lead-based paint
Which of the following is true of an addendum to a contract?
a. It is a provision in a contract that requires that a certain act or event happens
in order for the contract to be binding on the party.
b. It is synonymous with contingent
c. It is an attachment that adds or further describes the rights and duties of the
parties.
d. All of these are correct - CORRECT ANSWER-d. any and all of the above
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