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Texas Real Estate Exam (State Portion) Special Topics.
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Texas Real Estate Exam (State Portion) Special Topics.Texas Real Estate Exam (State Portion) Special Topics.
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Texas Real Estate Exam (State Portion) Special Topics.Community Property - ANS property acquired by husband and wife after marriage
UNLESS gifted, willed, or inherited; Intestate: @ death 1/2 passes to survivor and 1/2 to
statutes of decent and distribution; testate: @ death to survivor
A broker can communicate to clients the availability of a trust to pay damages to
aggrieved persons in which of the following ways?
1. By informing them verbally at first substantive contact
2. By directing them to the web site of the Texas Real Estate Commission
3. Through writing via a receipt for professional services, a sign posted in the licensee's
place of business, or on a brochure distributed by the licensee
4. In writing when a client makes a formal grievance complaint to the broker - ANS 3.
Through writing via a receipt for professional services, a sign posted in the licensee's
place of business, or on a brochure distributed by the licensee
What is the TREC one to four family residential contract used for:
The TREC ONE TO FOUR FAMILY RESIDENTIAL CONTRACT (RESALE). , and the
contract encourages mediation for dispute resolution. If lender required repairs exceed
5% of the price (not 10%), the buyer may terminate the contract. - ANS Used for the
resale of residential properties that are either a single family home, a duplex, a tri-plex
or a four-plex.
Tammy Doherty, a licensee found to be in violation of the Act, has been ordered to pay
an administrative penalty of $1,000. Tammy has 30 days to:
1. Deliver her license certificate to the Commission office
2. Pay the penalty, stay the penalty, or contest the decision
3. Engage legal counsel to file a writ with the Commission contesting the violation, the
penalty, or both
4. Appear before the Commission to plead her case - ANS 2. Pay the penalty, stay the
penalty, or contest the decision
What is the difference between a broker in an intermediary position and an appointed
associate under intermediary?
1. The appointed associate can give advice and opinions to one party in the transaction,
but the broker cannot give advice and opinions to any party
2. The appointed associate can give advice and opinions to both parties, but the broker
cannot give advice and opinions to either party
3. There is no difference
4. The appointed associate can give advice and opinions to one party, but the broker
can give advice and opinions to both parties - ANS 1. The appointed associate can give
,advice and opinions to one party in the transaction, but the broker cannot give advice
and opinions to any party
Deeds of conveyance should be recorded within what period of time after closing?
1. Within 3 days
2. Within a reasonable time
3. Within 48 hours
4. Within 1 week - ANS 2. Within a reasonable time
Which of the following situations could be considered illegal in Texas and put a
licensee's license to practice real estate in jeopardy of suspension or revocation?
1. Lucy signs a listing agreement that fails to include a broker protection clause.
2. Andrew signs a listing agreement that specifies a duration period of three months
from date of signing as the valid period of the listing. 3. Anna signs a listing agreement
that allows the listing to continue indefinitely.
4. Jerry signs a listing agreement that specifies a commission of 20% on the sale of a
property. - ANS 3. Anna signs a listing agreement that allows the listing to continue
indefinitely.
If the Real Estate Inspection Recovery Fund falls below $300,000 on Dec. 31 of any
year, How much may each licensee be charged to restore fund balance to its minimum?
- ANS $75
Prior to issuance of an inspector's license, a newly approved inspector must remit what
amount to the Real Estate Inspection Recovery Fund?
1. $300
2. $75
3. $10
4. $50 - ANS 3. $10
Brewster Realty has current agency agreements with both the sellers and a buyer. The
buyer would like to make an offer on the Sellers' property. Would this be legal?
1. Yes, the situation is permissible if Brewster realty discloses the situation to both
parties and receives written permission from both the buyer and Sellers.
2. Yes, but only if the Sellers accept full responsibility for the broker's commission.
3. No, such a transaction would put Brewster Realty in the position of becoming a dual
agent, and the broker would not be able to fairly and honestly represent the interests of
both parties.
4. Yes, as long as the buyer appoints the broker and he/she remains a neutral
intermediary in transaction negotiations. - ANS 1. Yes, the situation is permissible if
Brewster realty discloses the situation to both parties and receives written permission
from both the buyer and Sellers.
, A sponsoring broker, has made the decision to terminate his sponsorship of Ralph Cho.
What step must he take?
1. Provide Ralph with an official letter of resignation of sponsorship, clearly stating the
reasons for the decision, that he may submit to the Texas Real Estate Commission for
her files
2. Notify Ralph immediately and return his license to him so he can find a new
sponsoring broker
3. Notify Ralph in writing that he wishes to terminate his sponsorship and give 30 days
to appeal his decision, in writing; if he fails to appeal, or if his appeal does not change
his decision, he may then terminate his sponsorship immediately
4. Immediately notify in writing both Ralph and the commission. - ANS 4. Immediately
notify in writing both Ralph and the commission.
Which of the following about the Texas Real Estate Commission is not true?
1. Six Texas Real Estate Commission members are public and three Texas Real Estate
Commission members are brokers.
2. The Texas Real Estate Commission can advise with reference to its rules and the
laws that govern license holders.
3. The Texas Real Estate Commission has 9 members.
4. The Texas Real Estate Commission has subpoena power. - ANS 1. Six Texas Real
Estate Commission members are public and three Texas Real Estate Commission
members are brokers.
A buyer can terminate the contract if lender required repairs exeed what percentage of
the price? - ANS 5%
How much time does a title company have after receiving the contract to provide a
commitment of title insurance? - ANS 20 days
How many days does a buyer have after receiving the Disclosure of Property
Condintion? - ANS 7 days
The TREC one to four family residential contract is not used for: - ANS NOT used for
condominiums, new homes being sold by a builder, or farm and rand properties
All of the following are found in the TREC One to Four Family Residential (Resale)
Contract except:
1. If lender required repairs exceed 10% of the price the buyer may terminate the
contract.
2. The title company has 20 days to provide the title commitment after they receive the
contract.
3. If the buyer makes an offer prior to receiving the Seller's Disclosure of Property
Condition, the buyer will have 7 days to terminate the offer once he receives the
disclosure.
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