Texas Principles Of Real Estate 1 Questions with Answers
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Course
Texas Principles of Real Estate 1
Institution
Texas Principles Of Real Estate 1
A C.L.U.E. report advises a customer on: - up to seven years of claims history on a property
A licensee is liable for a misrepresentation or concealment of a material fact made by a party to a real
estate transaction in which of these circumstances? - The licensee knew of the concealment or
misr...
Texas Principles Of Real Estate 1 Exam
prep
A C.L.U.E. report advises a customer on: - ✔✔up to seven years of claims history on a property
A licensee is liable for a misrepresentation or concealment of a material fact made by a party to a real
estate transaction in which of these circumstances? - ✔✔The licensee knew of the concealment or
misrepresentation and failed to disclose their knowledge of it.
The licensee was relying on a non-expert third party's representation without confirming or attempting
to confirm
The licensee did not know of the misrepresentation or concealment but should have known if they had
performed their due diligence
ALL OF THE ABOVE
A place on the survey where there is an unintentional space between properties is what? - ✔✔Gap
A professional organization or association is usually a not-for- profit organization that seeks to do what
of the following? - ✔✔Further a particular profession and the interests of individuals engaged in that
profession
A subdivision plat description is best described by which of the following? - ✔✔A legal description that
does not describe each boundary line, but instead refers to a plat, survey, deed, or other instrument
that does show the full, particular legal description
A tenancy by the entirety between legally marries spouses differs from joint tenancy because? - ✔✔A
spouse cannot dispose of their interest without the consent of the other spouse
A testamentary trust is created through what? - ✔✔A will
, According to sec. 1101.159, the commission must ensure that the public is able to interact with the
commission in which of the following matters? - ✔✔On the internet
After racial discrimination in housing was ruled unconstitutional, a mechanism used to get around this
ruling was which of the following? - ✔✔Restrictive covenant
All of the following is a purpose served by regulation real estate licensing EXCEPT: - ✔✔prevent
consumers from utilizing legal recourse for a licensee's accidental failure of duty
An ________________ is an easement that is established without the permission of a landowner or the
existence of a situation that requires an easement - ✔✔easement by prescription
Applicants who are rejected for credit must be notified in writing of the basic reasons for denial within
how many days? - ✔✔30
brokers that will post on MLS for a small fee but are not associated with the seller - ✔✔limited service
brokers
CFPB stands for - ✔✔Consumer Financial Protection Bureau
How long does a chapter 13 debtor have to reinvest the proceeds of his or her home sale in a new
homestead or lose their homestead tax exemption status? - ✔✔6 months
How much money can a first time home buyer withdraw from their IRA without being penalized? -
✔✔$10,000
In the rectangular survey system, what a straight, imaginary lines running north and south and parallel
to the principal meridian? - ✔✔range lines
Mortgages are a common type of ____ lien - ✔✔consensual
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