Texas Real Estate Principles 1 Practice Exam: Questions and Answers, Exams of Nursing

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Texas Real Estate Principles 1 (Practice

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Courses for the renewal of an active real estate broker or sales agent license are called - Ans>>> 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? - Ans>>> $100, Which is owned by the tenant? - Ans>>> 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? - Ans>>> 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? - Ans>>> Intention of the parties What type of estate is complete ownership and exists for an unlimited time? - Ans>>> fee simple If a condition of ownership is violated, title to the subject property automatically reverts to the original owner in - Ans>>> a determinable fee estate An urban homestead is limited to a lot or lots NOT to exceed how many acres? - Ans>>> 10 The method used to describe real estate by distance, direction, and boundaries is

• Ans>>> metes-and-bounds method Which equals one square mile or 640 acres? - Ans>>> section

When there are two or more liens on a property, the order in which the liens will be satisfied when the property is sold will be determined by - Ans>>> the priority of the liens Which of the following may be a natural object, such as a tree or a boulder, or an artificial object, such as a steel rod or a stake driven into the ground? - Ans>>> Monument It is unlawful for a person to act in the capacity of or claim to be a real estate broker without first - Ans>>> obtaining a license from the Texas Real Estate Commission A real estate broker's license is NOT required of persons who - Ans>>> advertise and lease their own properties The Texas Real Estate Commission is composed of - Ans>>> nine members, six of whom are brokers and three of whom are lay members, each appointed by the governor with senate approval

Before people can act in the capacity of or represent themselves as real estate brokers, they must first - Ans>>> obtain a license from the Texas Real Estate Commission A license holder must use the earnest money contract forms promulgated by the Commission unless - Ans>>> 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? - Ans>>> 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? - Ans>>> Filling in the blanks of a contract form promulgated or approved for that use by the Texas Real Estate Commission (TREC) Which would NOT be considered a violation of antitrust laws? - Ans>>> Brokers throughout the city set their commission rates unilaterally without consulting with competitors

agent is accused of - Ans>>> misrepresenting the condition of the property by omitting pertinent facts Which action is permitted under the federal Fair Housing Act? - Ans>>> 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? - Ans>>> Civil Rights Act of 1866 The federal Fair Housing Act of 1968 - Ans>>> prohibits discrimination in residential housing based on race, color, national origin, and religion Which family is NOT protected under the familial status provisions of the Fair Housing Act? - Ans>>> A 55-year-old father, 40-year-old mother, and 17-year-old son who want to purchase a home in an age-restricted adults-only community "I hear they're moving in. There goes the neighborhood! Better put your house on the market before values drop!" This is an example of - Ans>>> blockbusting Where are subdivision plats filed? - Ans>>> In the county clerk's office of the county in which the land is located

The act of channeling homeseekers to a particular area either to maintain or to change the character of a neighborhood is - Ans>>> steering The priority of a mechanic's lien is established from the date - Ans>>> work was begun or materials were delivered, in whole or in part Randy has constructed a fence that extends 1 foot over his lot line onto the property of a neighbor. The fence is an example of - Ans>>> an encroachment Encumbrances on real estate - Ans>>> may include liens, easements, and deed restrictions Which of the following BEST refers to the type of lien that affects all real and personal property of a debtor? - Ans>>> General lien The right of defaulted taxpayers to recover their property before its sale for unpaid taxes is the - Ans>>> equitable right of redemption Which of the following is (are) considered a lien on real estate? - Ans>>> Unpaid mortgage loans