10/20/24, 7:23 PM TEXAS PRINCIPLES OF REAL ESTATE 1 FINAL EXAM, PRACTICE EXAM AND STUDY GUIDE NEWEST 2024 ALL IN ONE D…
TEXAS PRINCIPLES OF REAL ESTATE 1 FINAL
EXAM, PRACTICE EXAM AND STUDY GUIDE
NEWEST 2024 ALL IN ONE DOCUMENT
COMPLETE COURSE 160 QUESTIONS AND
ANSWERS
Terms in this set (160)
the party authorized to conduct business on the
Agent
principal's behalf
Agency a legal relationship between a principal and an agent
the illegal practice of encouraging property owners
Blockbusting to sell their homes when minorities begin moving into
an area
an intermediary who brings together buyers and
sellers, assists in negotiating agreements between
Broker
them, executes their orders, and receives
compensation for services rendered
Buyer Representation the legal agreement between a buyer and a broker
Agreement hired to represent the buyer's interest
a broker who is legally obligated to represent a
Buyer's Agent
buyer's interest
an agreement between a seller and broker for the
Commission Agreement payment of a commission if the broker is successful in
locating a buyer for the seller's property
an agent who attempts to work in the best interest of
Dual Agent
two parties on opposing sides of a transaction
https://quizlet.com/959809335/texas-principles-of-real-estate-1-final-exam-practice-exam-and-study-guide-newest-2024-all-in-one-document-complete… 1/9
, 10/20/24, 7:23 PM TEXAS PRINCIPLES OF REAL ESTATE 1 FINAL EXAM, PRACTICE EXAM AND STUDY GUIDE NEWEST 2024 ALL IN ONE D…
an agreement between a property owner and a single
Exclusive-Brokerage
broker authorizing that broker to seek a buyer for the
Listing
property in exchange for compensation
laws that protect the rights of certain citizens in
Fair Housing Laws
housing transactions
a person who is obligated to act in the best interest of
Fiduciary
another
a false statement made with the intention to mislead,
Fraud that is material to a transaction, that is justifiably relied
on by a client, and that results in injury to the client
an agreement between a property owner/seller that
Limited-service listing authorizes a broker to perform certain tasks to seek a
buyer for the property
the legal agreement between a broker and a property
Listing Agreement owner that authorizes the broker to attempt to sell the
property
the broker who negotiates the listing agreement with
LISTING BROKER
the seller
a false statement that is material to a transaction, that
MISREPRESENTATION is justifiably relied upon by a client, and that results in
injury to the client
an arrangement in which brokers share their listings
MULTIPLE LISTING
with other brokers in exchange for a share of the
SERVICE (MLS)
commission generated by a transaction
a listing agreement in which the broker is entitled to
NET LISTING receive as commission any amount above a base
price
a listing agreement in which a broker is entitled to
OPEN LISTING receive a commission only in the event the broker
procures a buyer for the property
the person who authorizes an agent to conduct
PRINCIPAL
business on his or her behalf
https://quizlet.com/959809335/texas-principles-of-real-estate-1-final-exam-practice-exam-and-study-guide-newest-2024-all-in-one-document-complete… 2/9
TEXAS PRINCIPLES OF REAL ESTATE 1 FINAL
EXAM, PRACTICE EXAM AND STUDY GUIDE
NEWEST 2024 ALL IN ONE DOCUMENT
COMPLETE COURSE 160 QUESTIONS AND
ANSWERS
Terms in this set (160)
the party authorized to conduct business on the
Agent
principal's behalf
Agency a legal relationship between a principal and an agent
the illegal practice of encouraging property owners
Blockbusting to sell their homes when minorities begin moving into
an area
an intermediary who brings together buyers and
sellers, assists in negotiating agreements between
Broker
them, executes their orders, and receives
compensation for services rendered
Buyer Representation the legal agreement between a buyer and a broker
Agreement hired to represent the buyer's interest
a broker who is legally obligated to represent a
Buyer's Agent
buyer's interest
an agreement between a seller and broker for the
Commission Agreement payment of a commission if the broker is successful in
locating a buyer for the seller's property
an agent who attempts to work in the best interest of
Dual Agent
two parties on opposing sides of a transaction
https://quizlet.com/959809335/texas-principles-of-real-estate-1-final-exam-practice-exam-and-study-guide-newest-2024-all-in-one-document-complete… 1/9
, 10/20/24, 7:23 PM TEXAS PRINCIPLES OF REAL ESTATE 1 FINAL EXAM, PRACTICE EXAM AND STUDY GUIDE NEWEST 2024 ALL IN ONE D…
an agreement between a property owner and a single
Exclusive-Brokerage
broker authorizing that broker to seek a buyer for the
Listing
property in exchange for compensation
laws that protect the rights of certain citizens in
Fair Housing Laws
housing transactions
a person who is obligated to act in the best interest of
Fiduciary
another
a false statement made with the intention to mislead,
Fraud that is material to a transaction, that is justifiably relied
on by a client, and that results in injury to the client
an agreement between a property owner/seller that
Limited-service listing authorizes a broker to perform certain tasks to seek a
buyer for the property
the legal agreement between a broker and a property
Listing Agreement owner that authorizes the broker to attempt to sell the
property
the broker who negotiates the listing agreement with
LISTING BROKER
the seller
a false statement that is material to a transaction, that
MISREPRESENTATION is justifiably relied upon by a client, and that results in
injury to the client
an arrangement in which brokers share their listings
MULTIPLE LISTING
with other brokers in exchange for a share of the
SERVICE (MLS)
commission generated by a transaction
a listing agreement in which the broker is entitled to
NET LISTING receive as commission any amount above a base
price
a listing agreement in which a broker is entitled to
OPEN LISTING receive a commission only in the event the broker
procures a buyer for the property
the person who authorizes an agent to conduct
PRINCIPAL
business on his or her behalf
https://quizlet.com/959809335/texas-principles-of-real-estate-1-final-exam-practice-exam-and-study-guide-newest-2024-all-in-one-document-complete… 2/9
