ACEABLE AGENT EXAM REVIEW 2026 FULL
SOLUTION ALREADY PASSED
◉ 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.
◉ A listing agreement must contain: Answer: a standard street address is
sufficient.
◉ If the commission investigates a complaint and determines that an
individual'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.
◉ Which of the licensed entities does not fall under the regulatory
authority 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.
,◉ A licensee in Texas may not practice law, unless licensed and
authorized to do so in Texas. Practicing law includes altering contracts,
or drawing up: Answer: a deed, deed of trust, will, or other written
instrument that may transfer or affect the title to land.
◉ 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.
◉ Undisclosed dual agency is: Answer: a violation of the TRELA.
◉ What is the composition of the Broker-Lawyer Committee? Answer:
Six broker members 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.
◉ A licensee must disclose any existing agency relationships to a new
client. This disclosure: Answer: may be done orally or in writing.
◉ 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.
,◉ A real estate licensee must notify the real estate program manager if:
Answer: A licensee must notify the real estate program manager within
20 days of receiving any criminal complaint, information, indictment, or
conviction in which the licensee is named as a defendant; or entry of a
civil court order, verdict, or judgment, against the licensee in any court
of competent jurisdiction in which the subject matter therein involves
any real estate or business-related activity by the licensee.
◉ Pamela, who lives in a suburb in which many homes are rented,
decides to open a rental agency in order to assist her friends in finding
suitable renters. Pamela's conduct is Answer: unacceptable because it
involves an activity for which a real estate license is required.
◉ The sole broker of a brokerage firm has his or her real estate license
suspended for two years. What would happen to the licenses of the
salespersons affiliated with this broker? Answer: If the broker's license is
suspended or revoked, the salespersons' licenses are made inactive and
must be returned to the commission. A salesperson's license may be
made active when the salesperson is sponsored by a new broker.
◉ Which agency is responsible for the contract forms used by Texas
licensees? Answer: The Texas Real Estate Commission
◉ A community property with rights of survivorship agreement must:
Answer: doesn't need to go through probate, must be signed by both
spouses, must include the property description, be in writing, contain
, wording that makes evident the intent of survivorship, and be recorded
in the county courthouse.
◉ Generally, the most important responsibility of an agent is to: Answer:
represent the financial interests of the client.
◉ Broker Bea recently entered into a listing contract with Seller Sally.
Broker Bea just learned that Sally is actually 17 years old and not
married. The listing contract is: Answer: voidable at the option of the
minor.
◉ Which of the following people would need to obtain a real estate
license if they were involved in a real estate activity?
A. the executor of an estate
B. a court-appointed guardian
C. a trustee of the bankruptcy court
D. one who sells lots in a mobile home park Answer: D. The sale of
land/lots is an act of brokerage and requires that one have a license if he
or she is not the owner of the lot. The other three answers are listed as
people who do not need a license in Section 3 of the Texas Real Estate
License Act.
◉ An agency relationship may be terminated by Answer: expiration of
time, agreement, rescission, abandonment, or by the death of either
party.
SOLUTION ALREADY PASSED
◉ 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.
◉ A listing agreement must contain: Answer: a standard street address is
sufficient.
◉ If the commission investigates a complaint and determines that an
individual'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.
◉ Which of the licensed entities does not fall under the regulatory
authority 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.
,◉ A licensee in Texas may not practice law, unless licensed and
authorized to do so in Texas. Practicing law includes altering contracts,
or drawing up: Answer: a deed, deed of trust, will, or other written
instrument that may transfer or affect the title to land.
◉ 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.
◉ Undisclosed dual agency is: Answer: a violation of the TRELA.
◉ What is the composition of the Broker-Lawyer Committee? Answer:
Six broker members 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.
◉ A licensee must disclose any existing agency relationships to a new
client. This disclosure: Answer: may be done orally or in writing.
◉ 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.
,◉ A real estate licensee must notify the real estate program manager if:
Answer: A licensee must notify the real estate program manager within
20 days of receiving any criminal complaint, information, indictment, or
conviction in which the licensee is named as a defendant; or entry of a
civil court order, verdict, or judgment, against the licensee in any court
of competent jurisdiction in which the subject matter therein involves
any real estate or business-related activity by the licensee.
◉ Pamela, who lives in a suburb in which many homes are rented,
decides to open a rental agency in order to assist her friends in finding
suitable renters. Pamela's conduct is Answer: unacceptable because it
involves an activity for which a real estate license is required.
◉ The sole broker of a brokerage firm has his or her real estate license
suspended for two years. What would happen to the licenses of the
salespersons affiliated with this broker? Answer: If the broker's license is
suspended or revoked, the salespersons' licenses are made inactive and
must be returned to the commission. A salesperson's license may be
made active when the salesperson is sponsored by a new broker.
◉ Which agency is responsible for the contract forms used by Texas
licensees? Answer: The Texas Real Estate Commission
◉ A community property with rights of survivorship agreement must:
Answer: doesn't need to go through probate, must be signed by both
spouses, must include the property description, be in writing, contain
, wording that makes evident the intent of survivorship, and be recorded
in the county courthouse.
◉ Generally, the most important responsibility of an agent is to: Answer:
represent the financial interests of the client.
◉ Broker Bea recently entered into a listing contract with Seller Sally.
Broker Bea just learned that Sally is actually 17 years old and not
married. The listing contract is: Answer: voidable at the option of the
minor.
◉ Which of the following people would need to obtain a real estate
license if they were involved in a real estate activity?
A. the executor of an estate
B. a court-appointed guardian
C. a trustee of the bankruptcy court
D. one who sells lots in a mobile home park Answer: D. The sale of
land/lots is an act of brokerage and requires that one have a license if he
or she is not the owner of the lot. The other three answers are listed as
people who do not need a license in Section 3 of the Texas Real Estate
License Act.
◉ An agency relationship may be terminated by Answer: expiration of
time, agreement, rescission, abandonment, or by the death of either
party.
