ACEABLE AGENT REAL ESTATE EXAMS SCRIPT QUESTIONS
AND ANSWERS SURE A+
✔✔A drafted copy of a listing agreement - ✔✔Which of the following is NOT a required
disclosure that real estate license holder must provide to consumers?
✔✔The duties of the agent to the principle include fidelity and loyalty, reasonable care
and competency, obedience, accounting, and disclosure. - ✔✔An agent owes the duty
of obedience to which of the following people?
✔✔"right of survivorship" - ✔✔predetermines that when one co-owner dies, their
ownership interest reverts to the surviving co-owners
✔✔true - ✔✔Texas offers several exemptions for reduction of property taxes
✔✔exclusive right to sell agreement - ✔✔broker gets the commission regardless of who
sells the property
✔✔Consumer Protection Notice TREC No. CN 1-2 - ✔✔According to The Canons of
Professional Ethics, which form must be displayed In a prominent location in each place
of business the broker or inspector maintains?
✔✔owner retains the right to sell the property while the broker may market the property
as well - ✔✔between a broker and an owner in which the owner retains the right to sell
the property while the broker may market the property as well.
✔✔Lending - ✔✔ECOA addresses which type of discrimination
✔✔Day to Day Activities - ✔✔A limited partner is usually NOT involved in
✔✔To protect license holders from the unscrupulous acts of clients. - ✔✔Which of the
following is NOT one of the primary objectives of the Texas Real Estate License Act?
✔✔According to Will - ✔✔If a couple owns property as community property and one
spouse dies testate and the spouse who died had children outside of this marriage, how
will the community property be distributed?
✔✔Preference for land in a certain area - ✔✔Which of the below most directly affects
the economic scarcity of real estate?
✔✔Advertising one's personal residence for sale. - ✔✔According to TRELA, which of
the following, when done with the expectation of valuable consideration, would NOT
qualify as practicing brokerage?
, ✔✔There are no exemptions to the applicability of federal fair housing laws when a real
estate license is involved. - ✔✔When are there no exemptions to the applicability of the
federal fair housing law?
✔✔acting as an intermediary - ✔✔A broker has two sales agents, one representing the
buyer and one representing the seller for the same transaction. The broker is:
✔✔To pay an aggrieved party who has won a judgement against a licensee for
damages from a real estate transaction. - ✔✔What is the money in the Recovery Trust
Account used for?
✔✔a timeshare property - ✔✔Example of co-ownership?
✔✔commingling - ✔✔If a license holder put client funds into a personal account it
would:
✔✔Duties to Lenders - ✔✔Not a category of the NAR Code of Ethics.
✔✔If they are found to be knowingly and intentionally at fault, they may be punished
with Treble damages for both economic damages and mental anguish. - ✔✔What
consequences could a broker suffer if a court concludes they knowingly and
intentionally conveyed incomplete or false information to a customer?
✔✔ Severance - ✔✔turn real property into personal property
✔✔Voidable - ✔✔can be terminated or rescinded by either party
✔✔Real property refers to the land and improvements on it plus the set of rights
associated with real estate ownership. - ✔✔land, and improvements on it plus the set of
rights associated with real estate ownership
✔✔Sponsoring Broker - ✔✔Sales agents accept commission from
✔✔Counteroffer - ✔✔party makes changes to an offer and represents the new offer
✔✔Uniqueness - ✔✔no two tracts of land are the same
✔✔Special Agency - ✔✔Broker signs listing agreement with seller
✔✔Lot and Block - ✔✔Plat, Oak Grove, Block 600, Lot 5, Dallas County, TX
✔✔Fair Housing - ✔✔the Department of Housing and Urban Development, commonly
referred to as HUD, enforces the
AND ANSWERS SURE A+
✔✔A drafted copy of a listing agreement - ✔✔Which of the following is NOT a required
disclosure that real estate license holder must provide to consumers?
✔✔The duties of the agent to the principle include fidelity and loyalty, reasonable care
and competency, obedience, accounting, and disclosure. - ✔✔An agent owes the duty
of obedience to which of the following people?
✔✔"right of survivorship" - ✔✔predetermines that when one co-owner dies, their
ownership interest reverts to the surviving co-owners
✔✔true - ✔✔Texas offers several exemptions for reduction of property taxes
✔✔exclusive right to sell agreement - ✔✔broker gets the commission regardless of who
sells the property
✔✔Consumer Protection Notice TREC No. CN 1-2 - ✔✔According to The Canons of
Professional Ethics, which form must be displayed In a prominent location in each place
of business the broker or inspector maintains?
✔✔owner retains the right to sell the property while the broker may market the property
as well - ✔✔between a broker and an owner in which the owner retains the right to sell
the property while the broker may market the property as well.
✔✔Lending - ✔✔ECOA addresses which type of discrimination
✔✔Day to Day Activities - ✔✔A limited partner is usually NOT involved in
✔✔To protect license holders from the unscrupulous acts of clients. - ✔✔Which of the
following is NOT one of the primary objectives of the Texas Real Estate License Act?
✔✔According to Will - ✔✔If a couple owns property as community property and one
spouse dies testate and the spouse who died had children outside of this marriage, how
will the community property be distributed?
✔✔Preference for land in a certain area - ✔✔Which of the below most directly affects
the economic scarcity of real estate?
✔✔Advertising one's personal residence for sale. - ✔✔According to TRELA, which of
the following, when done with the expectation of valuable consideration, would NOT
qualify as practicing brokerage?
, ✔✔There are no exemptions to the applicability of federal fair housing laws when a real
estate license is involved. - ✔✔When are there no exemptions to the applicability of the
federal fair housing law?
✔✔acting as an intermediary - ✔✔A broker has two sales agents, one representing the
buyer and one representing the seller for the same transaction. The broker is:
✔✔To pay an aggrieved party who has won a judgement against a licensee for
damages from a real estate transaction. - ✔✔What is the money in the Recovery Trust
Account used for?
✔✔a timeshare property - ✔✔Example of co-ownership?
✔✔commingling - ✔✔If a license holder put client funds into a personal account it
would:
✔✔Duties to Lenders - ✔✔Not a category of the NAR Code of Ethics.
✔✔If they are found to be knowingly and intentionally at fault, they may be punished
with Treble damages for both economic damages and mental anguish. - ✔✔What
consequences could a broker suffer if a court concludes they knowingly and
intentionally conveyed incomplete or false information to a customer?
✔✔ Severance - ✔✔turn real property into personal property
✔✔Voidable - ✔✔can be terminated or rescinded by either party
✔✔Real property refers to the land and improvements on it plus the set of rights
associated with real estate ownership. - ✔✔land, and improvements on it plus the set of
rights associated with real estate ownership
✔✔Sponsoring Broker - ✔✔Sales agents accept commission from
✔✔Counteroffer - ✔✔party makes changes to an offer and represents the new offer
✔✔Uniqueness - ✔✔no two tracts of land are the same
✔✔Special Agency - ✔✔Broker signs listing agreement with seller
✔✔Lot and Block - ✔✔Plat, Oak Grove, Block 600, Lot 5, Dallas County, TX
✔✔Fair Housing - ✔✔the Department of Housing and Urban Development, commonly
referred to as HUD, enforces the
