Texas Real Estate Principles 1 (Practice Exam) Q&As (Latest Update 2023), Exams of Nursing

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Texas Real Estate Principles 1 (Practice Exam) Q&As (Latest Update 2023) Courses for the renewal of an active real estate broker or sales agent license are called - correct answers ✅continuing education (CE) What is the maximum amount that the Commission will pay from the real estate recovery trust account for claims against any one license holder, until the account has been repaid in full by the license holder? - correct answers ✅$100,000 Which is owned by the tenant? - correct answers ✅a trade fixture Which of the following terms refers not only to the surface of the earth but also below to the center of the earth, above to infinity, and natural things permanently attached but does NOT refer to artificial things permanently attached? - correct answers ✅land If the court learns that the seller placed a sign that said "Not Included" on the stove every time a buyer looked at the property, the court will consider which of the following in determining whether the stove is a fixture, absent a written agreement? - correct answers ✅Intention of the parties Texas Real Estate Principles 1 (Practice Exam) Q&As (Latest Update 2023) What type of estate is complete ownership and exists for an unlimited time? - correct answers ✅fee simple If a condition of ownership is violated, title to the subject property automatically reverts to the original owner in - correct answers ✅a determinable fee estate An urban homestead is limited to a lot or lots NOT to exceed how many acres? - correct answers ✅10 The method used to describe real estate by distance, direction, and boundaries is - correct answers ✅metes-and-bounds method Which equals one square mile or 640 acres? - correct answers ✅section Under the federal Fair Housing Act, real estate organizations, such as multiple listing services, may NOT do which because someone is in a protected group? - correct answers ✅refuse membership or put conditions on participation Texas Real Estate Principles 1 (Practice Exam) Q&As (Latest Update 2023) Before people can act in the capacity of or represent themselves as real estate brokers, they must first - correct answers ✅obtain a license from the Texas Real Estate Commission A license holder must use the earnest money contract forms promulgated by the Commission unless - correct answers ✅an attorney prepares the forms and the property owner requires their use Which of the following is NOT a violation for which the Texas Real Estate Commission (TREC) may suspend or revoke a license or take other disciplinary action? - correct answers ✅Failing to advise a buyer or a seller regarding the validity of title to real estate A licensed real estate broker is not authorized to practice law unless the broker also is a licensed attorney. Which activity is permitted to be performed by a real estate license holder? - correct answers ✅Filling in the blanks of a contract form promulgated or approved for that use by the Texas Real Estate Commission (TREC) Texas Real Estate Principles 1 (Practice Exam) Q&As (Latest Update 2023) Which would NOT be considered a violation of antitrust laws? - correct answers ✅Brokers throughout the city set their commission rates unilaterally without consulting with competitors It is the duty of an agent to disclose to the principal every step taken in the transaction of the principal's business because - correct answers ✅the agent has a fiduciary obligation to the principal Misleading or deceptive practices according to the Deceptive Trade Practices Act (DTPA) include all of the following EXCEPT - correct answers ✅stating that a property is being sold "as is." The Deceptive Trade Practices Act (DTPA) does NOT apply to the actions of real estate agents when an agent - correct answers ✅makes an exaggerated or unsubstantiated statement of value given as advice, judgment, or opinion when selling real estate A real estate agent tells a seller during a listing presentation that the firm's real estate commission is in line with those of other real estate firms in the area. The broker may - correct answers ✅be guilty of price-fixing Texas Real Estate Principles 1 (Practice Exam) Q&As (Latest Update 2023) A sales agent has which agency relationship with the sponsoring broker? - correct answers ✅A general agency relationship A consumer has sent a complaint to the Texas Real Estate Commission (TREC) against a real estate agent, claiming a violation of the Canon of Integrity. The agent is accused of - correct answers ✅misrepresenting the condition of the property by omitting pertinent facts Which action is permitted under the federal Fair Housing Act? - correct answers ✅Refusing to sell a home to a minority individual because of a poor credit history Which law prohibits all discrimination based on race in any real estate transaction without exception? - correct answers ✅Civil Rights Act of 1866 The federal Fair Housing Act of 1968 - correct answers ✅prohibits discrimination in residential housing based on race, color, national origin, and religion