Principles of Real estate 1 - Questions AND ANSWERS 100% CORRECT!
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Course
Principles of Real estate 1 -
Institution
Principles Of Real Estate 1 -
Which of the following actions does not violate the Texas Real Estate License Act? - ANSWER Disclosing all known facts pertaining to a property to a client
The aspect of real estate business that is concerned with bringing together the parties and completing the transactions is: - ANSWER `Bro...
, Principles of Real estate 1 - Questions
AND ANSWERS 100% CORRECT!
Which of the following actions does not violate the Texas Real Estate License Act? -
ANSWER Disclosing all known facts pertaining to a property to a client
The aspect of real estate business that is concerned with bringing together the parties
and completing the transactions is: - ANSWER `Brokerage
Which of the following statements regarding a Texas homestead is false? - ANSWER
Homestead protection can be waived in writing
NOT: it is automatic
Rationale: although homestead protection is automatic and cannot be waived by
contract or other written agreement there are some limitations
Ad valorem taxes: - ANSWER -Are according to value
-Create the highest priority lien on real property
-Are always paid first at a foreclosure sale
Promulgated contract forms are published by: - ANSWER TREC
The type of development which gives the owner the right to occupy the property for a
certain time period, typically by the week, is known as: - ANSWER Timeshare
A record plat is required for which method of legal description? - ANSWER Lot and
block
Integrity is best described as: - ANSWER Real estate professionals must employ
prudence of caution so as to avoid misrepresentation by acts of omission or
commission.
EX: Sales Agent Tammy represented a buyer who was interested in making an offer on
a seller's home that was for sale. The seller told Tammy that the house had a termite
infestation. Concerned that her client would not make an offer if she knew of the
termites, Tammy withheld the information. Which Canon of Professional Ethics did
Tammy violate? Integrity
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