Principles 1 Aceable Practice Tests Bank With Complete Questions & Answers

A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date -ANSWER- A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction Wesley just bought a house with a creek that flows along the south boundary. He wants to use the water to irrigate his garden. Through which set of rights is he entitled to use this water? A) Water Rights B) Littoral Rights C) Riparian Rights D) Agricultural Use Rights -ANSWER- C) Riparian Rights According to the canons of professional ethics, what two things MUST be linked to a brokerage's website? A) A sample contract and TREC Notice of Representation No. 24 B) The Canons of Professional Ethics and the listing agreement C) The IABS Notice and the Consumer Protection Notice TREC No. CN 1-2 D) The Consumer Protection Notice and the NAR Code of Ethics -ANSWER- C) The IABS Notice and the Consumer Protection Notice TREC No. CN 1-2 A couple owns property as community property. If one spouse dies testate (that is, with a will) and had children outside of this marriage, how will the community property be distributed? A) It all goes to the surviving spouse B) The deceased spouse's 1/2 share will go to his or her children C) The deceased spouse's 1/2 share will be split between the surviving spouse and the children of the deceased spouse D) According to the will -ANSWER- D) According to the will Which of these owners or groups of owners are MOST likely to take title as tenants in common with no rights of survivorship?