Principles of Real Estate Practice Exam 1 Questions With Verified Answers

Which of the following does not need a license? - Answer a person who offers to sell her own property The Texas Real Estate Commission consists of ______. The commission members serve for _______ terms - Answer 9 members --- 6 year When a broker discharges a salesperson, he should: - Answer return the license to the Texas Real Estate Commission A real estate salesperson may elect to remain inactive for: - Answer indefinitely TRELA states: An applicant must satisfy the examination requirements not later than one year after the date the license application is filed. - Answer True The Texas Real Estate Recovery Fund is funded - Answer by real estate license fees The Texas Real Estate Commission may suspend or revoke a license or take other disciplinary action authorized by Chapter 1101 if the license holder, while acting as a broker or salesperson: - Answer all of the above The term "Realtor" applies to any - Answer member of the National Association of REALTORS® The owner of a single-family house in which he lives wants to sell. If he does not use discriminatory language in advertising, has not sold any other house within the past two years, and does not employ an agent, may he discriminate on the basis of race in selecting a purchaser? - Answer No, because this would be prohibited by the Civil Rights Act of 1866. All of the following are prohibited by the Fair Housing Act of 1968, as amended, EXCEPT - Answer discrimination on the basis of age The practice of directing home seekers to particular neighborhoods based on race, color, religion, sex, or national origin - Answer is known as steering A licensed real estate agent is offered a listing by an owner who stipulates that she will not sell to any person of a certain national origin. The agent should: - Answer refuse the listing The Americans with Disabilities Act deals primarily with: - Answer commercial property Which of the following are not classified as real property? - Answer emblements Easements, rights-of-way, and condominium parking stalls are examples of - Answer appurtenances