Texas Real Estate Exam Questions and 100% Correct Answers
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Course
Texas Real Estate
Institution
Texas Real Estate
Which of the following acts is illegal under Federal Fair Housing law? - Answer Advertising
property for sale only to members of a specific national origin
A loan that provides for increases and decreases in the interest rate during its term is known as
a(n): - Answer adjustable-rate mortgage
T...
Texas Real Estate Exam Questions and 100%
Correct Answers
Which of the following acts is illegal under Federal Fair Housing law? - Answer Advertising
property for sale only to members of a specific national origin
A loan that provides for increases and decreases in the interest rate during its term is known as
a(n): - Answer adjustable-rate mortgage
The right of local government officials to acquire title to real estate for public purposes by
condemnation is based on the power of: - Answer eminent domain
The price for which a property will sell if offered openly under normal conditions is known as: -
Answer market value
The condition which allows a property owner to convey a right to another party while retaining
full legal title is a(n): - Answer easement
The acquisition of another's title to real property by means of open, notorious, and continuous
use is known as an: - Answer adverse possession
The commission earned by a listing broker on a sale of property is established by: - Answer
Agreement between the seller and the broker
Ifafree-standingapplianceissoldseparatelyfromareal estate transaction, the seller should furnish
the buyer with a: - Answer bill of sale
In order for a brokerage to be able to represent both the buyer and seller in a real estate
transaction, the brokerage needs to have the permission of: - Answer both parties
, G borrowed $15,000 to buy a business. The interest
rate was 11%. If G paid all the interest and the amount borrowed with a single payment at the
end of 16 months, what is the amount of this payment? - Answer $17,200
Which of the following types of developments allows fee ownership of individual units with
joint ownership of common areas? - Answer Condominiums
An unimproved lot is located in the service area of a water supply corporation. The seller is
subject to the notice requirements relating to a service provider. What is the buyer's statutory
remedy if the seller fails to give the written notice REQUIRED by law? - Answer Terminate the
purchase contract with the seller.
To be eligible for a real estate license, an individual MUST: - Answer satisfy the Commission as
to the individual's integrity
Who can pay money to a licensed salesperson to perform sales activities for a house a broker
has listed for sale? - Answer The salesperson's sponsoring broker and no one else.
According to The Real Estate License Act of Texas, which one of the following actions is a fair
and impartial act for an intermediary? - Answer Appointing associated licensees to work with
the parties.
As a marketing promotion, a real estate salesperson offers property for sale by lottery. This
practice is: - Answer grounds for suspension or revocation of license
When the association of a salesperson with the sponsoring broker is terminated, the broker
MUST: - Answer immediately return the salesperson's license to the Commission
When negotiating contracts binding the sale or lease of property, a real estate licensee MUST
use an appropriate Texas Real Estate Commission-promulgated form
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