FREE REAL ESTATE AND STUDY GAMES ABOUT TX REAL

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FREE REAL ESTATE AND STUDY GAMES ABOUT TX REAL

ESTATE EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -314 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: executor

Answer:

party dies with a will and has an appointed person to oversee their estate Question 2: How long under civil rights act of 1968 does a person who has been discriminated against have to file a complaint?

Answer:

no more than 2 years from the date of the incident Question 3: What takes precedence, Statutory Intermediary or Common law dual agency?

Answer:

Statutory Intermediary

Question 4: integrity

Answer:

agent will avoid misrepresentation by commission or omisssion

Question 5: If one practices real estate without a license , where is the trial held?

Answer:

In County court Question 6: if a broker is using an assumed name, or DBA, this must be filed in:

Answer:

In the county courthouse in every county where he has an office

Question 7: commingling as used in real estate law is what?

Answer:

placing principal's money with the broker's money

Question 8: Community Property

Answer:

Statutory estate in Texas. All property acquired after marriage is jointly owned. Income on a separate property is community property. Separate prop is not community property nor their increase.Question 9: an agent has received a $75 check from a home warrant company. Can you keep the check?

Answer:

Yes, if the agent provided a RSC disclosure and the broker authorized the payment to the agent.

Question 10: An agent's disclosure of representation must be made how?

Answer:

orally or din writing Question 11: when agent has been assess an administrative penalty by TREC as a result of TREC determining an infraction of its rules, how long does the agent have to pay the penalty?

Answer:

30 days

Question 12: Para 4 of 1-4 Family Residential Contract (Resale)

Answer:

TX law requires agent who is a party to a transaction or acting on behalf of a spouse, parent, or child...to notify the other party in writing before entering into a contract of sale.

Question 13: RESPA stands for:

Answer:

real estate settlement procedures act Question 14: If you use a link on your website stating: TREC Information about brokerage Services or TREC Consumer Protection Notice, what font point must be used?

Answer:

12

Question 15: Do back-up offers need to be presented to the owner?

Answer:

yes, this is a must

Question 16: What is the homestead exemption?

Answer:

tax benefit, should not be confused with the homestead protection. Homeowners must apply for the exemption and must own and occupy the home on Jan 1 to qualify. You can back file for up to 2 years if you have failed to claim this exemption.

Question 17: how are a majority of foreclosures in TX done?

Answer:

non-judicial due to the use of the Deed of Trust Question 18: describing land boundaries using terminal points and angles is called?

Answer:

metes and bounds

Question 19: Para 11 of 1-4 Family Residential Contract (Resale)

Answer:

SPECIAL PROVISIONS - Factual statements and business details applicable to the sale can be inserted here. Prohibited by TREC rules to insert items covered in an addendum, lease or other form has been promulgated by TREC for mandatory use.

Question 20: Gulf Intracoastal Waterway

Answer:

given as addendum to notify buyers that structures must not be erected seaward of the vegetation line.If it is erected or becomes seaward of line, it may be subject to lawsuit by State of Texas for removal.Question 21: what information is contained in paragraph 7D of he 1-4 family contract?

Answer:

"as is" provision

Question 22: What housing is covered under the Fair Housing Act?

Answer:

Covers most housing, in some cases it exempts owner-occupied buildings with no more that 4 units, sing family housing sold or rented without the use of a broker, and housing operated by orgs and private clubs that limit occupancy to their members

Question 23: What is the maximum size of a Urban homestead?

Answer:

10 acres

Question 24: mold assessors and remediators need what?

Answer:

to be licensed Question 25: when a district judge passes title to heirs at probate, how long does it take the title to transfer?

Answer:

30 days

Question 26: when can a license holder advertise another broker's listing?

Answer:

with written permission from that broker Question 27: A buyer has signed an offer to buy and later receives the seller's disclosure. How many days does he have to terminate offer after receiving the disclosure?

Answer:

7