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ACEABLE LAW OF AGENCY REVIEW
EXAM 2026 WITH QUESTIONS AND
CORRECT ANSWERS
Here are the four major types of agency acts: - correct answer-Listing
Buying
Leasing
Property Management
TREC's purpose is to - correct answer-regulate educational and licensing
programs that maintain standards AND interpret legislation that affects the
real estate profession — primarily the Texas Real Estate License Act
(TRELA).
Integrity - correct answer-Satisfy to the commission (TREC) that the
candidate meets and exceeds their character standards (honesty,
trustworthiness, and integrity).
Competence - correct answer-Demonstrate competence by passing the
licensing exam.
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Broker: - correct answer-An individual licensed by TREC to perform
brokerage duties; sponsors sales agents to represent clients on their behalf
Sales agent: - correct answer-An individual holding a sales agent license
from TREC who is sponsored by a broker
License holder - correct answer-A broker or a sales agent licensed by
TREC
REALTOR - correct answer-A licensed sales agent who is a member of the
National Association of REALTORS®.
Brokers are - correct answer-liable for all sponsored actions committed by
their sales agents.
Sales agents represent - correct answer-their broker in all transactions in
real estate dealings and transactions.
Listing Agent: - correct answer-A broker representing a seller in a real
estate transaction, a.k.a. seller's agent, seller's broker, or listing broker
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Buyer's Agent: - correct answer-A broker representing a buyer in a real
estate transaction, a.k.a. selling agent, buyer's broker, or selling broker
Tenant's Agent - correct answer-A broker representing a tenant in a real
estate transaction
Landlord's Agent: - correct answer-A broker representing a landlord in a
real estate transaction
Principal - correct answer-The major parties of the transaction (the buyer
and seller or landlord and tenant) or a party who has authorized an agent to
represent them
Client (principal) - correct answer-Anyone who has an agency relationship
with you or your broker is your client
Customer - correct answer-A party to the transaction who has an agency
relationship with another license holder
Third Party - correct answer-All non-client parties to a transaction, including
real estate professionals
ACEABLE LAW OF AGENCY REVIEW
EXAM 2026 WITH QUESTIONS AND
CORRECT ANSWERS
Here are the four major types of agency acts: - correct answer-Listing
Buying
Leasing
Property Management
TREC's purpose is to - correct answer-regulate educational and licensing
programs that maintain standards AND interpret legislation that affects the
real estate profession — primarily the Texas Real Estate License Act
(TRELA).
Integrity - correct answer-Satisfy to the commission (TREC) that the
candidate meets and exceeds their character standards (honesty,
trustworthiness, and integrity).
Competence - correct answer-Demonstrate competence by passing the
licensing exam.
,2 |Page
Broker: - correct answer-An individual licensed by TREC to perform
brokerage duties; sponsors sales agents to represent clients on their behalf
Sales agent: - correct answer-An individual holding a sales agent license
from TREC who is sponsored by a broker
License holder - correct answer-A broker or a sales agent licensed by
TREC
REALTOR - correct answer-A licensed sales agent who is a member of the
National Association of REALTORS®.
Brokers are - correct answer-liable for all sponsored actions committed by
their sales agents.
Sales agents represent - correct answer-their broker in all transactions in
real estate dealings and transactions.
Listing Agent: - correct answer-A broker representing a seller in a real
estate transaction, a.k.a. seller's agent, seller's broker, or listing broker
, 3 |Page
Buyer's Agent: - correct answer-A broker representing a buyer in a real
estate transaction, a.k.a. selling agent, buyer's broker, or selling broker
Tenant's Agent - correct answer-A broker representing a tenant in a real
estate transaction
Landlord's Agent: - correct answer-A broker representing a landlord in a
real estate transaction
Principal - correct answer-The major parties of the transaction (the buyer
and seller or landlord and tenant) or a party who has authorized an agent to
represent them
Client (principal) - correct answer-Anyone who has an agency relationship
with you or your broker is your client
Customer - correct answer-A party to the transaction who has an agency
relationship with another license holder
Third Party - correct answer-All non-client parties to a transaction, including
real estate professionals
