.png){kind=logo}
CHAMPIONS REAL ESTATE AGENCY ACTUAL EXAM
1.If a real estate agent is found guilty of misrepresentation in a transaction, what potential action could TREC take based on their authority?Require the agent to undergo a mandatory ethics course Impose a fine without further consequences Take away the agent's license Allow the agent to continue practicing with a warning 2.What happens to the licenses of agents sponsored by a business entity when the designated broker of that entity dies?They remain active They are revoked They are placed on Inactive Status They are transferred to another broker 3.If a real estate agent is accused of misrepresentation during a transaction, which statutory defense could they use if they relied on a report from a government agency?Written information from governmental records Personal opinions about the property Unverified online reviews Information from a friend in the industry 1 / 4
4.If a real estate sales agent is required to attend weekly training seminars and follow a strict schedule set by the broker, how might this affect their classification as an independent contractor according to IRS guidelines?It would likely support their classification as an independent contractor. 2 / 4
It would likely lead to their classification as an employee.It would have no effect on their classification. It would require them to pay additional taxes.
5.What are the two primary forms of defamation as defined in legal terms?Slander and Libel Assault and Battery Fraud and Misrepresentation Negligence and Malpractice 6.What is the primary restriction placed on team names in Texas real estate regarding the use of certain terms?Teams can use the term 'brokerage' in their name.Teams must include the name of the sponsoring broker in their name.Teams cannot use terms that imply they offer independent brokerage services.Teams are required to use the word 'associates' in their name.
7.What type of agreement serves as evidence that an agency relationship exists in real estate transactions?Verbal agreement Written listing agreement Email correspondence 3 / 4
Informal handshake 8.A broker intentionally appropriates a client's trust funds
for his own purposes. This is called:
secret profit
- / 4
.png)