Texas State Portion Real Estate Exam.pdf file:///C:/Users/HP/Desktop/New%20fl/Texas%20State%20Portion%2
Texas State Portion Real Estate Exam
Questions & Answers
1. Who is responsible for any wrongs done by a salesperson while acting with- in the scope
of the agency agreement?
Answer The broker is liable for the wrongdoing of his or her salespersons. The principal is
liable for any wrongs committed by the broker while acting within the scope of the agency
agreement.
2. what is the distinction between sales contracts and option contracts?
Answer One characteristic of sales contracts is mutual obligation. Option contracts lack mutual
obligation. The buyer in an option contract is not obligated to buy.
3. A listing agreement must contain
Answer a standard street address is sufficient.
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4. If the commission investigates a complaint and determines that an indi- vidual's
real estate license should be suspended or revoked, the licensee is entitled to a hearing
before the commission within how many days after the commission reaches its
decision?
Answer A licensee who faces suspension or
revocation of their license is entitled to a hearing within 30 days of the commission reaching their
decision.
5. Which of the licensed entities does not fall under the regulatory authori- ty of the
Texas Real Estate Commission?
Answer The Texas Appraiser Licensing and Certification Board has jurisdiction over state
licensed and certified appraisers. In addition to licensing brokers and salespersons, the Texas
Real Estate Commission is responsible for licensing real estate inspectors and for regulation of
companies that sell and issue residential service contracts ("home warranties"). (Article 65736,
Vernon's Texas Civil Statutes.
6. A licensee inTexas may not practice law, unless licensed and authorized to do so in
Texas. Practicing law includes altering contracts, or drawing up
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Answer a deed, deed of trust, will, or other written instrument that may transfer or affect the
title to land.
7. What penalties may a licensee who breaches the agency relationship face?-
Answer A licensee who breaches the agency relationship may be sued for damages, termination
of the contract, and/or non-payment of the commission.
8. Undisclosed dual agency is
Answer a violation of the TRELA.
9. What is the composition of the Broker-Lawyer Committee?
Answer Six broker mem- bers are appointed by the Texas Real Estate Commission; six attorney
members are appointed by the President of the State Bar of Texas. The appointees serve a term
of six years with one-third of them being appointed every two years.
10. A licensee must disclose any existing agency relationships to a new client. This
disclosure
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Answer may be done orally or in writing.
11. A broker may do which of the following for an individual without actually
representing the individual?
Answer A broker may obtain financing, assist in locating a property, and prepare a contract or
lease for an individual without representing the individual.
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