TREC STATE EXAM COMPLETE STUDY GUIDE
WITH ANSWERS
◉ A receptionist told a broker about a client who was looking for a
new house. The broker contacted the receptionist's client and sold
him a home. May the broker pay the receptionist for the lead?
Answer: A gift with a value of not more than $50 may be given
◉ The relationship of a salesperson to their sponsoring broker is
Answer: Subject to all laws and rules of agency
◉ When must a licensee present the statutory "Information About
Brokerage Services" to a prospective seller or purchaser? Answer: At
the time a meeting occurs where substantive discussion about a
specific property takes place.
◉ The One-to-Four Residential contract states: Answer: Licensees
cannot give legal advice
◉ Can a salesperson function as an intermediary? Answer: no
◉ The right that a power company acquires in order to lay a service
line across a customer's property is called Answer: An easement in
gross
,◉ The broker's responsibility at the closing is to Answer: Verify and
receive the brokerage fee.
◉ An outside leasing agent involved in lease negotiations,
coordination of the transaction, and fee collection is a Answer: Real
Estate Agent
◉ Broker Dillard lists Shawn and Adam's house for $87,000. Adam
has been transferred to another state, and the couple must sell their
house within three months. To expedite the sale, Dillard tells a
prospective buyer that the couple will accept at least $5,000 less for
the house. In this situation Answer: Dillard should not have
disclosed this information to the prospective buyer, because it is not
in the seller's best financial interest.
◉ The primary functions of the Texas Real Estate Commission are all
of the following EXCEPT Answer: To oversee the loan process for
consumers
◉ All of the following are violations of the Texas Real Estate
Licensing Act EXCEPT Answer: Taking a net listing
◉ Who drafts and revises the promulgated sales contracts? Answer:
The Joint Broker-Lawyer Committee.
,◉ The responsibilities of the Texas Real Estate Commission include
all the following except: Answer: regulating brokerage fees
◉ Salesperson Jason Smith is employed by A to Z Realty, Inc. Jason
learns that A to Zs broker of record missed her licensing renewal
deadline. When Jason questions the broker about this, the broker
laughs and says, "Don't worry. There is always a grace period to
renew." Jason knows that this in not true, but decides not to say any
more about it. Jason's conduct is Answer: Unacceptable because
upon expiration of his sponsoring broker's license, Jason's
salesperson license is inactive.
◉ Responding to or facilitating inquiries about the ancestry or
familial status would put the licensee in the position of violating
Answer: Federal and state laws as well as the Texas Real Estate
Commission rules.
◉ A closing occurs on July 5. According to the terms of the
agreement created by using the Texas Real Estate Commission 20-11
form, which of the following statements is true? Answer: The seller
is responsible for paying the ad valorem tax for July 5.
◉ An option to purchase agreement: Answer: Requires a fee for a
specified time period.
, ◉ If the TREC finds a licensee guilty of a violation of the TRELA, the
licensee can appeal to Answer: District court
◉ It is unlawful for a person to act as a real estate salesperson
unless Answer: Such person is legally associated with a licensed
Texas Real Estate broker.
◉ Seth and Sarah are occupying an apartment on a month-to-month
lease with rent due and payable on the 15th day of each month. How
much notice must they give their landlord to terminate their
tenancy-at-will? Answer: 30 days unless otherwise stipulated on the
rental agreement
◉ A real estate licensee must use a Texas Real Estate Commission
promulgated form unless a form has been written and is required by
the: Answer: Owner of the property
◉ The statement " A broker must be employed to recover a
commission for his or her services" means that the Answer: Seller
must have signed an agreement to pay a commission to the broker
for selling the property
◉ A licensee who drafts an earnest money contract and does not use
a promulgated form Answer: shall have his or her license revoked or
suspended
WITH ANSWERS
◉ A receptionist told a broker about a client who was looking for a
new house. The broker contacted the receptionist's client and sold
him a home. May the broker pay the receptionist for the lead?
Answer: A gift with a value of not more than $50 may be given
◉ The relationship of a salesperson to their sponsoring broker is
Answer: Subject to all laws and rules of agency
◉ When must a licensee present the statutory "Information About
Brokerage Services" to a prospective seller or purchaser? Answer: At
the time a meeting occurs where substantive discussion about a
specific property takes place.
◉ The One-to-Four Residential contract states: Answer: Licensees
cannot give legal advice
◉ Can a salesperson function as an intermediary? Answer: no
◉ The right that a power company acquires in order to lay a service
line across a customer's property is called Answer: An easement in
gross
,◉ The broker's responsibility at the closing is to Answer: Verify and
receive the brokerage fee.
◉ An outside leasing agent involved in lease negotiations,
coordination of the transaction, and fee collection is a Answer: Real
Estate Agent
◉ Broker Dillard lists Shawn and Adam's house for $87,000. Adam
has been transferred to another state, and the couple must sell their
house within three months. To expedite the sale, Dillard tells a
prospective buyer that the couple will accept at least $5,000 less for
the house. In this situation Answer: Dillard should not have
disclosed this information to the prospective buyer, because it is not
in the seller's best financial interest.
◉ The primary functions of the Texas Real Estate Commission are all
of the following EXCEPT Answer: To oversee the loan process for
consumers
◉ All of the following are violations of the Texas Real Estate
Licensing Act EXCEPT Answer: Taking a net listing
◉ Who drafts and revises the promulgated sales contracts? Answer:
The Joint Broker-Lawyer Committee.
,◉ The responsibilities of the Texas Real Estate Commission include
all the following except: Answer: regulating brokerage fees
◉ Salesperson Jason Smith is employed by A to Z Realty, Inc. Jason
learns that A to Zs broker of record missed her licensing renewal
deadline. When Jason questions the broker about this, the broker
laughs and says, "Don't worry. There is always a grace period to
renew." Jason knows that this in not true, but decides not to say any
more about it. Jason's conduct is Answer: Unacceptable because
upon expiration of his sponsoring broker's license, Jason's
salesperson license is inactive.
◉ Responding to or facilitating inquiries about the ancestry or
familial status would put the licensee in the position of violating
Answer: Federal and state laws as well as the Texas Real Estate
Commission rules.
◉ A closing occurs on July 5. According to the terms of the
agreement created by using the Texas Real Estate Commission 20-11
form, which of the following statements is true? Answer: The seller
is responsible for paying the ad valorem tax for July 5.
◉ An option to purchase agreement: Answer: Requires a fee for a
specified time period.
, ◉ If the TREC finds a licensee guilty of a violation of the TRELA, the
licensee can appeal to Answer: District court
◉ It is unlawful for a person to act as a real estate salesperson
unless Answer: Such person is legally associated with a licensed
Texas Real Estate broker.
◉ Seth and Sarah are occupying an apartment on a month-to-month
lease with rent due and payable on the 15th day of each month. How
much notice must they give their landlord to terminate their
tenancy-at-will? Answer: 30 days unless otherwise stipulated on the
rental agreement
◉ A real estate licensee must use a Texas Real Estate Commission
promulgated form unless a form has been written and is required by
the: Answer: Owner of the property
◉ The statement " A broker must be employed to recover a
commission for his or her services" means that the Answer: Seller
must have signed an agreement to pay a commission to the broker
for selling the property
◉ A licensee who drafts an earnest money contract and does not use
a promulgated form Answer: shall have his or her license revoked or
suspended
