AYPO REAL ESTATE UPDATED EXAM STUDY GUIDE
QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔The Texas Real Estate Commission consists of members appointed by the governor
with the advice and consent of the: senate. What is their composition? - ✔✔Six
members who have been engaged in the brokerage business as licensed brokers as
their major occupation for the five years preceding appointment; and three members
who represent the public
✔✔Who determines the salaries of the executive director, officers, and employees of
the commission? - ✔✔The commission.
✔✔A subpoena may be issued throughout the state and may be served by: - ✔✔any
person designated by the commission.
✔✔The commission shall assign priorities and investigate complaints using a risk-based
approach based on any of these except: - ✔✔Length of time a licensee has been in
practice
✔✔The Texas Real Estate Broker-Lawyer Committee consists of 13 members
appointed as follows: - ✔✔six members appointed by the commission; six members of
the State Bar of Texas appointed by the president of the state bar; and one public
member appointed by the governor
✔✔An educational institution shall maintain a corporate surety bond or other security
acceptable to the commission that is in the amount of: - ✔✔$20,000
✔✔When the relationship of a sales agent with the sales agent's sponsoring broker
terminates, the terminating party shall immediately notify: - ✔✔in writing both the other
party and the commission.
✔✔The commission shall waive the examination requirement for an applicant for a
broker or sales agent license if: - ✔✔Both of these are required
✔✔The commission by rule may: - ✔✔prescribe the title, content, and duration of
continuing education courses that a license holder must attend to renew a license
✔✔A person may not sell, buy, lease, or transfer an easement or right-of-way for
another, for compensation or with the expectation of receiving compensation, for use in
connection with telecommunication, utility, railroad, or pipeline service unless the
person: - ✔✔1. Holds a license issued under this chapter
2. Holds a certificate of registration issued under this subchapter
, ✔✔When must a broker report a change of address to the commission? - ✔✔Not later
than the 10th day after the date a broker moves from the address designated on the
broker's license
✔✔The commission shall maintain a real estate recovery trust account to reimburse
aggrieved persons who suffer actual damages caused by an act described by Section
1101.602 committed by: - ✔✔1. A certificate holder.
2. a license holder.
3. a person who does not hold a license or certificate and who is an employee or agent
of a license or certificate holder.
✔✔The executive director shall give notice of the commission's order to the person. The
notice must: - ✔✔1. inform the person of the person's right to judicial review of the order
2. state the amount of any penalty imposed
3. include the findings of fact and conclusions of law, separately stated
✔✔A person who receives a commission or other consideration as a result of acting as
a broker or sales agent without holding a license or certificate of registration under this
chapter is liable to an aggrieved person for a penalty of not less than the amount of
money received or more than three times the amount of money received. - ✔✔TRUE
✔✔A license holder is not liable for a misrepresentation or a concealment of a material
fact made by a party to a real estate transaction unless the license holder: - ✔✔knew of
the misrepresentation or concealment and failed to disclose the license holder's
knowledge of the misrepresentation or concealment.
✔✔Metes comes from the word for... - ✔✔measuring.
✔✔What is the term for a six-mile-square area of land containing 36 sections which is
numbered according to its position either north or south of the baseline? - ✔✔Town
✔✔Which of the following is a general term for properties involving an approved survey
map and plans that describe each lot or unit and that is recorded with the county? -
✔✔Platted
✔✔In the rectangular survey system, what are straight, imaginary lines running north
and south and parallel to a Principal Meridian? - ✔✔Range lines
✔✔Legal descriptions generally can be found by searching by: - ✔✔1. public lands
records
2. tax records
QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔The Texas Real Estate Commission consists of members appointed by the governor
with the advice and consent of the: senate. What is their composition? - ✔✔Six
members who have been engaged in the brokerage business as licensed brokers as
their major occupation for the five years preceding appointment; and three members
who represent the public
✔✔Who determines the salaries of the executive director, officers, and employees of
the commission? - ✔✔The commission.
✔✔A subpoena may be issued throughout the state and may be served by: - ✔✔any
person designated by the commission.
✔✔The commission shall assign priorities and investigate complaints using a risk-based
approach based on any of these except: - ✔✔Length of time a licensee has been in
practice
✔✔The Texas Real Estate Broker-Lawyer Committee consists of 13 members
appointed as follows: - ✔✔six members appointed by the commission; six members of
the State Bar of Texas appointed by the president of the state bar; and one public
member appointed by the governor
✔✔An educational institution shall maintain a corporate surety bond or other security
acceptable to the commission that is in the amount of: - ✔✔$20,000
✔✔When the relationship of a sales agent with the sales agent's sponsoring broker
terminates, the terminating party shall immediately notify: - ✔✔in writing both the other
party and the commission.
✔✔The commission shall waive the examination requirement for an applicant for a
broker or sales agent license if: - ✔✔Both of these are required
✔✔The commission by rule may: - ✔✔prescribe the title, content, and duration of
continuing education courses that a license holder must attend to renew a license
✔✔A person may not sell, buy, lease, or transfer an easement or right-of-way for
another, for compensation or with the expectation of receiving compensation, for use in
connection with telecommunication, utility, railroad, or pipeline service unless the
person: - ✔✔1. Holds a license issued under this chapter
2. Holds a certificate of registration issued under this subchapter
, ✔✔When must a broker report a change of address to the commission? - ✔✔Not later
than the 10th day after the date a broker moves from the address designated on the
broker's license
✔✔The commission shall maintain a real estate recovery trust account to reimburse
aggrieved persons who suffer actual damages caused by an act described by Section
1101.602 committed by: - ✔✔1. A certificate holder.
2. a license holder.
3. a person who does not hold a license or certificate and who is an employee or agent
of a license or certificate holder.
✔✔The executive director shall give notice of the commission's order to the person. The
notice must: - ✔✔1. inform the person of the person's right to judicial review of the order
2. state the amount of any penalty imposed
3. include the findings of fact and conclusions of law, separately stated
✔✔A person who receives a commission or other consideration as a result of acting as
a broker or sales agent without holding a license or certificate of registration under this
chapter is liable to an aggrieved person for a penalty of not less than the amount of
money received or more than three times the amount of money received. - ✔✔TRUE
✔✔A license holder is not liable for a misrepresentation or a concealment of a material
fact made by a party to a real estate transaction unless the license holder: - ✔✔knew of
the misrepresentation or concealment and failed to disclose the license holder's
knowledge of the misrepresentation or concealment.
✔✔Metes comes from the word for... - ✔✔measuring.
✔✔What is the term for a six-mile-square area of land containing 36 sections which is
numbered according to its position either north or south of the baseline? - ✔✔Town
✔✔Which of the following is a general term for properties involving an approved survey
map and plans that describe each lot or unit and that is recorded with the county? -
✔✔Platted
✔✔In the rectangular survey system, what are straight, imaginary lines running north
and south and parallel to a Principal Meridian? - ✔✔Range lines
✔✔Legal descriptions generally can be found by searching by: - ✔✔1. public lands
records
2. tax records
