Aceable Exam 1 UPDATED ACTUAL Questions
and CORRECT Answers | A+ Verified | 2026
• Who holds title and manages the property in a trust? -✓✓ trustee
• What type of estate causes the title to automatically revert to the original owner if
the deed requirements regarding property use are violated? -✓✓ fee simple
determinable
• How many TREC promulgated contract forms are there? -✓✓ six
• Which unities are required by joint tenancy? -✓✓ possession, interest, time, title
• Which of these is a unilateral contract?
a. A car dealership offers a $1,000 bonus to any salesperson who can sell 10
vehicles in a month
b. Lesley and Andrew sign a contract for the sale of Lesley's home to Andrew
c. Sarah and Jeff sign a contract for the sale of Sarah's car to Jeff
d. Amari gets in Loren's taxi/ Loren drives to her destination, and Amari pays
Loren the stated rate -✓✓ A
• What type of property rights are limited to 10 acres of contiguous parcels (for
urban property) or up to 200 acres of rural property? -✓✓ homestead rights
,• According to the Canons of Professional Ethics, what must every broker do with
Consumer Protection Notice TREC No. CN 1-2? -✓✓ display it in a readily
noticeable location
• When are there no exemptions to the applicability of the federal fair housing law?
-✓✓ when a real estate licensee is involved
• Under which law is a creditor outlawed from rejecting a borrower based on their
marital status? -✓✓ ECOA
• A store owner builds and attaches a display case to the wall when leasing a
convenience store that he will take with him at the end of the lease. The display
case is an example of a: -✓✓ trade fixture
• How would an agent disclose to a potential buyer that they will be required to
join an HOA if they purchase the property? -✓✓ use the Addendum for Property
Subject to Mandatory Management in a Property Owners Association
• In a breach of contract scenario, which of these four options would allow the
wronged party (the seller) to keep the earnest money that had been put up by the
buyer? -✓✓ forfeit
• After a lease expires in a unit where the landlord made modifications for the
tenant's disability: -✓✓ the landlord may require tenants to return the property to
its unmodified location
• If an applicant fulfills all requirements for licensure but hasn't found a sponsoring
broker yet, are they able to get licensed? -✓✓ Yes, the applicant can receive an
inactive license from the Commission
, • In terms of the scope of authority granted, what are the three classifications of
agency? -✓✓ special, general, and universal
• Which of the following terms refers to the land, improvements, and the bundle of
rights? -✓✓ real property
• How would a listing broker BEST share a listing with other agents? -✓✓ submit
it to the MLS
• Jasmine lives in a single-family home and shares amenities like a pool, golf
course, and park with her neighbors. An HOA owns and maintains these amenities,
and Jasmine pays a monthly fee to the HOA. She most likely lives in a: -✓✓ PUD
• What is required for a broker to act as an intermediary in a real estate transaction?
-✓✓ written consent from both parties
• Which of the following best describes when a broker might act as an intermediary
in Texas? -✓✓ when both the seller and the buyer are clients of the same broker
• If an individual faces civil or criminal liability, does that preclude any
disciplinary action from the Texas Real Estate Commission? -✓✓ No, disciplinary
action from the TREC does not relieve the person from civil or criminal liability
• All partners assume unlimited personal liability in what type of business
organization? -✓✓ general partnership
and CORRECT Answers | A+ Verified | 2026
• Who holds title and manages the property in a trust? -✓✓ trustee
• What type of estate causes the title to automatically revert to the original owner if
the deed requirements regarding property use are violated? -✓✓ fee simple
determinable
• How many TREC promulgated contract forms are there? -✓✓ six
• Which unities are required by joint tenancy? -✓✓ possession, interest, time, title
• Which of these is a unilateral contract?
a. A car dealership offers a $1,000 bonus to any salesperson who can sell 10
vehicles in a month
b. Lesley and Andrew sign a contract for the sale of Lesley's home to Andrew
c. Sarah and Jeff sign a contract for the sale of Sarah's car to Jeff
d. Amari gets in Loren's taxi/ Loren drives to her destination, and Amari pays
Loren the stated rate -✓✓ A
• What type of property rights are limited to 10 acres of contiguous parcels (for
urban property) or up to 200 acres of rural property? -✓✓ homestead rights
,• According to the Canons of Professional Ethics, what must every broker do with
Consumer Protection Notice TREC No. CN 1-2? -✓✓ display it in a readily
noticeable location
• When are there no exemptions to the applicability of the federal fair housing law?
-✓✓ when a real estate licensee is involved
• Under which law is a creditor outlawed from rejecting a borrower based on their
marital status? -✓✓ ECOA
• A store owner builds and attaches a display case to the wall when leasing a
convenience store that he will take with him at the end of the lease. The display
case is an example of a: -✓✓ trade fixture
• How would an agent disclose to a potential buyer that they will be required to
join an HOA if they purchase the property? -✓✓ use the Addendum for Property
Subject to Mandatory Management in a Property Owners Association
• In a breach of contract scenario, which of these four options would allow the
wronged party (the seller) to keep the earnest money that had been put up by the
buyer? -✓✓ forfeit
• After a lease expires in a unit where the landlord made modifications for the
tenant's disability: -✓✓ the landlord may require tenants to return the property to
its unmodified location
• If an applicant fulfills all requirements for licensure but hasn't found a sponsoring
broker yet, are they able to get licensed? -✓✓ Yes, the applicant can receive an
inactive license from the Commission
, • In terms of the scope of authority granted, what are the three classifications of
agency? -✓✓ special, general, and universal
• Which of the following terms refers to the land, improvements, and the bundle of
rights? -✓✓ real property
• How would a listing broker BEST share a listing with other agents? -✓✓ submit
it to the MLS
• Jasmine lives in a single-family home and shares amenities like a pool, golf
course, and park with her neighbors. An HOA owns and maintains these amenities,
and Jasmine pays a monthly fee to the HOA. She most likely lives in a: -✓✓ PUD
• What is required for a broker to act as an intermediary in a real estate transaction?
-✓✓ written consent from both parties
• Which of the following best describes when a broker might act as an intermediary
in Texas? -✓✓ when both the seller and the buyer are clients of the same broker
• If an individual faces civil or criminal liability, does that preclude any
disciplinary action from the Texas Real Estate Commission? -✓✓ No, disciplinary
action from the TREC does not relieve the person from civil or criminal liability
• All partners assume unlimited personal liability in what type of business
organization? -✓✓ general partnership
