CE Shop Practice Exam Texas Principles of Real Estate Questions and Answers
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Course
The CE shop real estate
Institution
The CE Shop Real Estate
Jayne was tired of waiting for her subcontractor to get his part of the deal done. The agreed-upon deadlines
came and went, and Jayne lost money waiting for the subcontractor to come through. She decided that if the
subcontractor weren't going to honor his commitments, neither was she, so Jayne c...
CE Shop Practice Exam Texas Principles
of Real Estate Questions and Answers
Jayne was tired of waiting for her subcontractor to get his part of the deal done. The
agreed-upon deadlines
came and went, and Jayne lost money waiting for the subcontractor to come through.
She decided that if the
subcontractor weren't going to honor his commitments, neither was she, so Jayne
consulted. with her attorney and
then terminated the contract. This is an example of - Answer-Rescinding the contract
unilaterally
What does the metes and bounds system use to develop a property's legal description?
- Answer-Compass headings and directions
In Texas, the Information About Brokerage Services form ______. - Answer-Is required
by law
Who is responsible for appointing the members of the Texas Real Estate Commission?
- Answer-The governor of Texas
What is the starting point for any land surveyor who has been asked to perform a
survey? - Answer-A review of existing historical records
Which of the following trusts is created according to the terms of the will of a deceased
person? - Answer-Testamentary
What is the maximum payment amount for a claim from the Recovery Trust Account for
a single transaction? - Answer-$50,000
The Education Standards Advisory Committee is comprised of ______ members. -
Answer-12
The seller of property that may be subject to a private transfer fee must provide the
prospective buyer with which written notice? - Answer-Private Transfer Fee Obligation
Betty hired a contractor to replace her gutters. Within days, the gutters leaked and
flooded her basement. She complained to the contractor, who replaced the gutters
again. The next time it rained, the gutters leaked and flooded Betty's basement a
second time. Frustrated, Betty decided to file a lawsuit against the contractor in an
attempt to recover the money she lost. This is an example of ______. - Answer-Suing
for damages and breach of contract
"Separate property" is property most likely acquired ______. - Answer-Prior to marriage
, What type of listing agreement provides the sellers with the opportunity to enter into
listing contracts with multiple agents and still reserve the right to sell the property
themselves, owing no commission? - Answer-Open listing
What amount of liability does a Texas licensee who acted in cooperation with another
person(s) to commit a third-degree felony have? - Answer-Joint and separate
responsibility for all damages
According to the Department of Justice, an agreement between competitors to establish
or adhere to uniform price discounts is a type of which antitrust violation? - Answer-
Price fixing
What's the permanent marker used primarily for marking datums when measuring
elevation? - Answer-Benchmark
_____ is a permanent reference points used for marking datums. - Answer-Benchmark
In which type of listing agreement will a seller contract with multiple agents and only pay
commission to the agent who locates a buyer? - Answer-Open listing
Ken, Dale, and James were brothers who owned more than 100 acres as tenants in
common. The relationship between Ken and James disintegrated, and so James
initiated a lawsuit. The end result was that the court gave each brother a designated set
of acres to own. What did the court grant? - Answer-Partition
______ is the term used to describe a specific, divided portion of property that's created
as part of a co-ownership termination. - Answer-Partition
What type of real estate license holder must be sponsored by another type of license
holder in Texas? - Answer-Sales agent
What pre-licensing education must an applicant for an initial sales agent license in
Texas complete? - Answer-Six 30-hour courses of qualifying education
Sales agent applicants must complete _____ hours of sales agent-qualifying courses
before applying for a license. - Answer-180
Which area of real estate law covers what's required of a licensee when performing real
estate activities within the state, including license law, continuing education
requirements, supervisory requirements, and prohibited conduct? - Answer-Real estate
license law
Which of the following legal descriptions is not used in Texas? - Answer-Rectangular
government survey
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