Texas Real Estate Study Questions and 100% Correct Answers
5 views 0 purchase
Course
Texas Real Estate
Institution
Texas Real Estate
1. A broker may do which of the following for an individual without actually
representing the individual?
A. Obtain financing
B. Assist in locating a property
C. Prepare a contract or lease
D. All of the above - Answer Answer: D. A broker may obtain financing, assist in locating
a property, a...
Texas Real Estate Study Questions and 100%
Correct Answers
1. A broker may do which of the following for an individual without actually
representing the individual?
A. Obtain financing
B. Assist in locating a property
C. Prepare a contract or lease
D. All of the above - Answer Answer: D. A broker may obtain financing, assist in locating
a property, and prepare a contract or lease for an individual without representing the
individual.
2. A real estate licensee must notify the real estate program manager if which of the
following happens?
A. A criminal complaint is filed against the licensee
B. Any complaint, criminal or not, is filed against the licensee
C. A licensee surrenders his or her license
D. Both a and c - Answer Answer: A. A licensee must notify the real estate program
manager within 20 days of receiving any criminal complaint, information, indictment, or
conviction in which the licensee is named as a defendant; or entry of a civil court order,
verdict, or judgment, against the licensee in any court of competent jurisdiction in which
the subject matter therein involves any real estate or business-related activity by the
licensee.
,3. Pamela, who lives in a suburb in which many homes are rented, decides to open a
rental agency in order to assist her friends in finding suitable renters. Pamela's conduct
is
A. acceptable because it is relatively small in scope.
B. acceptable because it involved only Pamela's friends.
C. unacceptable because it involves an activity for which a real estate license is required.
D. unacceptable unless she makes a voluntary contribution to the Recovery Account. -
Answer Answer: C. Any act that would constitute procuring prospects for property
owners or procuring properties for a prospective buyer or tenant is an act of brokerage
as defined by Section 2 of the Texas Real Estate License Act and requires a real estate
license.
4. The sole broker of a brokerage firm has his or her real estate license suspended for
two years. Which of the following is true of the licenses of the salespersons affiliated
with this broker?
A. They are still valid and the salespersons may operate as usual during the broker's
suspension.
B. The salespersons' licenses are made inactive and must be returned to the
commission.
C. The salespersons' licenses are also suspended for two years.
D. The salespersons' licenses are revoked and may be reinstated after the first year of
the broker's suspension. - Answer Answer: B. If the broker's license is suspended or
revoked, the salespersons' licenses are made inactive and must be returned to the
commission. A salesperson's license may be made active when the salesperson is
sponsored by a new broker.
5. Which agency is responsible for the contract forms used by Texas licensees?
,A. The Broker-Lawyer Committee
B. Texas Association of REALTORS
C. The Texas Real Estate Commission
D. National Association of REALTORS - Answer Answer: C. Only TREC is responsible for
the contract forms licensees must use in Texas.
6. A community property with rights of survivorship agreement must:
A. include the property description.
B. be signed only by the granting spouse.
C. go through probate.
D. do all of the above. - Answer Answer: A. A community property with rights of
survivorship agreement doesn't need to go through probate, must be signed by both
spouses, must include the property description, be in writing, contain wording that
makes evident the intent of survivorship, and be recorded in the county courthouse.
7. Generally, the most important responsibility of an agent is to:
A. represent the financial interests of the client.
B. protect the agent's commission.
C. protect the brokerage's reputation.
D. disclose all material facts. - Answer Answer: A. Generally, the most important
responsibility of an agent is to represent the financial interests of the client.
8. Broker Bea recently entered into a listing contract with Seller Sally. Broker Bea just
learned that Sally is actually 17 years old and not married. The listing contract is:
A. void.
, B. voidable.
C. valid.
D. enforceable. - Answer Answer: B. A contract with a minor is voidable at the option of
the minor.
9. Which of the following people would need to obtain a real estate license if they were
involved in a real estate activity?
A. the executor of an estate
B. a court-appointed guardian
C. a trustee of the bankruptcy court
D. one who sells lots in a mobile home park - Answer Answer: D. The sale of land/lots is
an act of brokerage and requires that one have a license if he or she is not the owner of
the lot. The other three answers are listed as people who do not need a license in
Section 3 of the Texas Real Estate License Act.
10. Betty and Carl were married 10 years. This was the second marriage for both and
Carl had one child from a previous marriage. Carl recently died without a will. Which of
the following is true
A. Betty gets all of the community property.
B. Betty and the former wife split the property equally.
C. Betty gets 3/4 of the property and and Carl's child gets the remaining 1/4.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
