Exam (elaborations)
Texas Real Estate Q Bank Exam 2024/2025 Questions With Completed & Verified Solutions.
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Texas Real Estate Q Bank Exam 2024/2025 Questions With Completed & Verified Solutions.
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Texas Real Estate QBankNet listings are - ANS The answer is permitted in Texas but discouraged. Net listings are legal
but discouraged because of a potential conflict of interest. Net listings are permitted by TREC
only when the principal (1) requires a net listing and (2) where the principal appears to be
familiar with current market values. Additionally, when negotiating any listing, net or otherwise,
or even offering to purchase the property on the license holder's own account as a result of a
contact made while acting as a real estate agent, a "license holder is obligated to advise a
property owner as to the license holder's opinion of market value of a property."
The difference between forms promulgated and forms approved by the Commission is that -
ANS The answer is the license holder must present the promulgated forms, whereas the license
holder may present the approved forms.
Which of the following requires a real estate license? - ANS The answer is a company that, for a
referral fee, matches individuals from different parts of the country who want to exchange
properties and assists them in doing so. Matching individuals for a fee or commission is an act
of brokerage and requires a real estate license.
When terminating the sponsorship of a sales agent, the broker must - ANS The answer is notify
the sales agent in writing of the termination and immediately return the sales agent's license to
the Texas Real Estate Commission.
Which of these is TRUE regarding application fees and/or application deposits? - ANS The
answer is if a rental application is accepted, the application deposit is credited toward the
security deposit.
A broker's unlicensed assistant worked late nights and weekends to help ensure the successful
closing of a difficult transaction. The assistant's extra work included making several phone calls
to the prospective buyers, encouraging them to accept the seller's counteroffer. Largely because
of the assistant's efforts, the sale went through with no problem. Now the broker wants to pay
the assistant a percentage of the commission "because the assistant has really earned it."
Under Texas law, the broker may - ANS The answer is not pay a commission to the assistant
under the facts presented here. They are both in violation of rules regarding unlicensed
assistants.
How long does a person have to pass the licensing examination? - ANS The answer is one year
of making application. The real estate licensing exam must be passed within one year of making
application.
Which Canon of Professional Ethics requires that the broker or sales agent employ prudence
and caution in the discharge of her duties to avoid misrepresentation? - ANS The answer is
,integrity. The Canons of Professional Ethics and Conduct define integrity to include
"...employment of prudence and caution so as to avoid misrepresentation...by acts of
commission or omission."
Under the Texas Property Code, which of the following would be a consideration in determining
the maximum number of adults a landlord may allow to occupy a dwelling? - ANS The answer is
number of areas intended as sleeping quarters. A landlord may allow up to three adults per
bedroom. A bedroom is defined as areas intended as sleeping quarters.
All of the following are true regarding the Texas homestead law EXCEPT - ANS The answer is
homestead rights in property may be terminated by the death of a spouse.
In Texas laws of descent, primary heirs of the deceased include all of the following EXCEPT -
ANS The answer is grandchildren. Primary heirs include spouses, children, parents, siblings,
aunts, uncles and, in some cases, first and second cousins.
Under Texas Deceptive Trade Practices Act a person who acquires goods and services is
identified as a - ANS The answer is consumer. Anyone who acquires goods and/or services for
purchase or lease is identified as a consumer under the statutory provisions.
The License Act provides for - ANS The answer is a minimum of 18 classroom hours as a
prerequisite to license renewal every 2 years after SAE requirements have been met.
A sales agent obtains a listing contract on behalf of the sales agent's sponsoring broker. When a
prospective buyer asks to look at the property, the sales agent must provide the prospect with
the TREC Information About Brokerage Services form and - ANS The answer is inform them
orally or in writing that the sales agent and sales agent's broker represent the seller's interests.
When a condominium is foreclosed on for nonpayment of condominium owner association
(COA) dues, if the COA purchases the property, the statutory right of redemption is - ANS The
answer is 90 days. When a condominium is foreclosed on for nonpayment of COA dues,
regardless of who purchases the property, the statutory right of redemption is 90 days for the
defaulted owner.
A Texas homeowner may be allowed certain protection from judgments of creditors as a result
of the state - ANS The answer is homestead laws. In Texas, the purpose of the constitutional
protection vested in the homestead is to protect the family against eviction by general creditors.
A married couple's community property includes - ANS The answer is wages earned by either
spouse.
The Texas Law of Descent and Distribution provides that when a person dies intestate separate
property may be distributed in all of the following ways EXCEPT - ANS The answer is all
separate property descends to the surviving spouse.
,After the first renewal, what mandatory classes are required to renew a sales agent's real estate
license? - ANS The answer is completion of 18 hours of continuing education acceptable to the
Commission.
When a mechanic's lien is created under an expressed written contract it creates a(an) - ANS
The answer is voluntary specific lien. When a mechanic's lien is created under an expressed
written contract it creates a voluntary specific lien.
An urban homestead is limited to a lot or lots NOT to exceed - ANS The answer is 10 acres.
When a homeowner who is entitled by Texas law to a homestead exemption is sued by
creditors, the general creditors - ANS The answer is usually have no right to have the debtor's
home sold.
An unlicensed assistant may - ANS The answer is set appointments to show listings. An
unlicensed assistant may not host an open house, open doors for perspective buyers, or make
telephone calls to FSBOS in an attempt at getting listing appointments for the license holder
they work for.
A seller's listing agreement has expired, and the seller lists with a different brokerage firm. The
original listing agent now has a buyer interested in the seller's property. Based on this
information, the original agent - ANS The answer is cannot disclose to the buyer offers received
on the seller's property while it was listed with the original agent.
A buyer asks a sales agent with LMN Realty to show the buyer a house listed with XYZ Realty
but does not wish to enter into an agency relationship. As long as the buyer is informed that
LMN Realty represents the seller, the sales agent from LMN Realty may show the buyer the
house, and the broker for LMN Realty may then act as a subagent of the seller if - ANS The
answer is LMN realty has obtained the listing broker's and the seller's consent to subagency and
the buyer is given the TREC Information About Brokerage Services form explaining the buyer's
right to be represented if desired and that compensation of the broker by a party does not
necessarily determine that the broker represents that party.
A real estate license may be suspended or revoked for - ANS The answer is publishing an
advertisement that may create a misleading impression.
In Texas, licenses are renewed - ANS The answer is biennially, in the month issued. Licenses
are renewed every two years in the month issued. At the time of renewal, licensees must submit
proof of completion of continuing education hours.
If the amount of money in the Real Estate Recovery Trust Account drops below $1 million, the
Texas Real Estate Commission may - ANS The answer is assess each license holder a pro rata
share to bring the account to $1,700,000.
, In a situation where the Seller's Disclosure of Property Condition is required, in order to have a
contract that cannot be terminated by a buyer for failure to receive the disclosure on or before
the effective date of an executory contract binding the purchaser to purchase the property, the
seller's agent should ensure the disclosure be delivered to the buyer or the buyer's agent - ANS
The answer is prior to the buyer's making a written offer.
How many acres are protected in a rural Texas family homestead? - ANS The answer is 200
acres for a family. A rural homestead is limited to 200 acres for a family and 100 acres for a
single person, regardless of the value of the land or improvements on the land; the designated
acreage must include the owner's home.
A real estate broker's license is NOT required of persons who - ANS The answer is advertise
and lease their own properties.
License renewal fees are set by - ANS The answer is TREC rule. TREC is authorized to adopt
rules to charge and collect reasonable fees for such activities as license application and
renewal, license examination, and change of sponsorship.
The constitutional right enjoyed by the head of a Texas household in property occupied by the
family is called - ANS The answer is homestead.
Which of these statements is TRUE? - ANS The answer is a lease for a term of more than 1
year must be in writing to be enforceable. Only a lease for one year or less may be oral and still
enforceable. The Texas Statute of Frauds requires leases for more than one year to be reduced
to writing to be enforceable.
When handling trust funds, all of these could result in disciplinary action against a license holder
EXCEPT - ANS The answer is keeping an account of all funds deposited and disbursed for four
years.
A consumer files a written complaint with the Texas Real Estate Commission regarding a license
holder. TREC must investigate the complaint based on - ANS The answer is assigned priorities,
using a risk based approach regardless of date received.
A seller lists a home with a brokerage company and discloses material defects to the listing
sales agent. The sales agent, wanting to provide great service by selling the home quickly,
decides that the defects are not significant and excludes the information from the MLS,
advertising, and communication with buyer brokers. A buyer, unaware of the defects, purchases
the home only to discover the defects six months after closing. Against whom may the buyer
have legal recourse? - ANS The answer is broker and sales agent.
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