ACEABLE AGENT REAL ESTATE COMPREHENSIVE EXAM
QUESTIONS AND ANSWERS SURE A+
✔✔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✔✔Voidable - ✔✔can be terminated or rescinded by either party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
✔✔What consequences could a broker suffer if a court concludes they knowingly and
intentionally conveyed incomplete or false information to a customer? - ✔✔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.
✔✔grounds for disciplinary action, including revocation or suspension of a license,
EXCEPT - ✔✔Asking buyers to provide their own transportation to inspect a property
✔✔Condo - ✔✔An owner lives in a single family dwelling but only owns the building.
The homeowner's association owns and maintains the grounds, the pool and the
exercise room. All of the owners in the area share the common areas. What does the
owner live in?
QUESTIONS AND ANSWERS SURE A+
✔✔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✔✔Voidable - ✔✔can be terminated or rescinded by either party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
✔✔What consequences could a broker suffer if a court concludes they knowingly and
intentionally conveyed incomplete or false information to a customer? - ✔✔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.
✔✔grounds for disciplinary action, including revocation or suspension of a license,
EXCEPT - ✔✔Asking buyers to provide their own transportation to inspect a property
✔✔Condo - ✔✔An owner lives in a single family dwelling but only owns the building.
The homeowner's association owns and maintains the grounds, the pool and the
exercise room. All of the owners in the area share the common areas. What does the
owner live in?
