Exam (elaborations)
Texas Real Estate Principles 1 - Unit 1 Exam questions & answers.
- Course
- Institution
Texas Real Estate Principles 1 - Unit 1 Exam questions & answers.
[Show more]
Seller
Follow
Content preview
Texas Real Estate Principles 1 - Unit 1Exam questions & answers.
The Committee has _____ members appointed by the Commission. ANS - 12
The __________ is a statute that is administered and enforced by the Texas Real Estate Commission
(TREC), which is a state agency. ANS - Real Estate License Act
A successful career in real estate requires someone to: ANS - be a self-started.
A peak is characterized as the __________ turning point of a business cycle. ANS - upper
To be eligible to get a Texas real estate sales agent or broker license, a person must: ANS - All of the
choices apply
Which of the following is not a duty of TREC? ANS - Creates state laws, statues, and rules
What are changes in business and economic activity that occur within the year? ANS - Short-term
fluctuations.
The majority of new licensees begin their careers with a __________ to help homeowners sell and
homebuyers purchase homes. ANS - residential brokerage
Which of the following statements is true regarding NAR and TAR? ANS - All of the choices apply.
Any person who wants to engage in the real estate business and act as a real estate broker or real estate
sales agent within the state of Texas must obtain a license from the: ANS - Texas Real Estate
Commission.
The Education Standards Advisory Committee is responsible for reviewing and revising: ANS - All of the
choices apply.
, A(n) __________ is a rule issued by an administrative agency to enforce or amplify a statute. ANS -
regulation
A __________ is a voluntary nonprofit organization of independent and competing business units
engaged in the same industry or trade, formed to help solve industry problems, promote progress, and
enhance service. ANS - trade association
Which of the following is true regarding the employee tax status for real estate sales agents or broker-
sales agents? ANS - All of the choices apply.
Which of the following gives buyers the best opportunity to purchase real estate? ANS - Trough
In addition to the legal and ethical requirements, to be eligible to get a Texas real estate sales agent or
broker license, the applicant must: ANS - both complete the required courses of study and pass the
state licensing examination.
Real estate agents who do not comply with the duties and obligations required by law may be subject
to: ANS - All of the choices apply.
Any form of online presence that allows end users to engage in multi-directional conversations in or
around the content on the website is referred to as: ANS - Social Media
Advertisements must include a designation, such as __________, that identifies the advertiser as a real
estate agent. ANS - all of the choices apply
The two main types of real estate licenses are the: ANS - broker's license and sales agent's license.
__________ is written law enacted by state (or federal) legislative bodies. ANS - Statutory law
What encompasses the activities a sales agent performs in order to seek out potential clients? ANS -
Prospecting
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Professorkaylee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
85651 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now