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Texas Real Estate Principles 1 - Unit 3 Exam questions with actual answers.
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Texas Real Estate Principles 1 - Unit 3 Exam questions with actual answers.

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  • September 13, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • texas real estate principles 1 unit 3 exam quest

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  • Texas Principles of Real Estate 1
  • Texas Principles of Real Estate 1

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Texas Real Estate Principles 1 - Unit 3
Exam questions with actual answers.
Performance indicates that a listing broker will use best efforts and diligence to market the property on
behalf of the client and to obey the client's instructions as to: ANS - all of the choices apply



In a listing agreement, the broker has a(n) __________ to conduct negotiations in the best interest of
the seller when dealing with buyers who are interested in the property. ANS - fiduciary duty



__________ is defined as taking advantage of the lack of knowledge, ability, experience, or capacity of
the consumer to a grossly unfair degree. ANS - Unconscionable action



Which of the following duties does not represent a listing agent's statutory minimum level of service to
his or her sellers? ANS - Locating a suitable property to purchase



All of the following are people involved in an agency relationship, except: ANS - a neutral party.



Which of the following is the client in a single agency relationship with regard to a real estate
transaction? ANS - The principal



A __________ exists indefinitely, has centralized management in a board of directors, and its corporate
stocks are freely transferred. ANS - corporation



A mistake that does not question the honesty, competence, or diligence of a person and does not
constitute a breach of duty is called a(n): ANS - honest mistake.



Which pair below represents the types of disclosures required by The Real Estate License Act? ANS -
Representation and agency



An employment contract between an owner of real property and broker for the sale of real estate is
a(n): ANS - listing agreement

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