Texas Real Estate Practice exam 1
Who promulgates forms for mandatory use by Texas brokers and salespersons? - Answer-Texas Real
Estate Commission
In Texas, unless stated to the contrary in a deed, ownership of land by a married couple is assumed to
be by - Answer-Community Property
Regarding community property, which of the following is TRUE? - Answer-Neither spouse may sell any
real estate owned as part of their community property, unless both spouses sign the sales contract and
deed.
A homestead is protected against judgments that result from - Answer-Unsecured creditors
In Texas, who is authorized to draft deeds, mortgages, deeds of trust, and notes? - Answer-An attorney
licensed to practice law
In Texas, licenses are renewed - Answer-In the month issued
A consumer prevails in a suit for a cause of action involving the Texas deceptive trade practices Act. The
maximum the consumer may be awarded by the court is - Answer-Actual damages, court costs, attorney
fees, and up to treble damages if the court finds conduct committee knowingly or intentionally
, A seller has no knowledge of any plumbing system problems on the property the seller is selling. In
actuality, however, the pipes are seriously corroded and will need to be replaced soon. On the sellers
disclosure of property condition, when responding to whether the seller is aware of plumbing system
problems, the seller should enter - Answer-No
Which would be considered acting in a lawful position as an intermediary? - Answer-Appointed licensees
communicating with and caring out the instructions of different principles in one transaction
Which would be considered acting in a lawful position as an intermediary - Answer-Appointed licensee
communicating with and caring out instructions of different principles in one transaction
As a result of a hearing, it was determined that a licensee had violated a provision of the licensing act
the maximum administrative penalty for the violation may not exceed - Answer-$5000 for each day the
violation continued
If engaged in real estate brokerage activities, which persons are exempt from the real estate license he
requirement - Answer-Attorneys at the law licensed in Texas
A broker signed a listing agreement with the seller. The agreement contains the following classes:
parentheses if the property has not been sold after three months from the date of the signing, this
agreement will automatically continue for additional three months . there after until the property is
sold." based on these facts, the agreement - Answer-Provides grounds for loss of the broker license
A licensed Texas broker may split fees and commissions with which of the following parties? - Answer-A
nonresident broker
The mandatory Brokerage Services form must be provided in all of the following situations EXCEPT -
Answer-It need not be provided in any of the above circumstances
Who promulgates forms for mandatory use by Texas brokers and salespersons? - Answer-Texas Real
Estate Commission
In Texas, unless stated to the contrary in a deed, ownership of land by a married couple is assumed to
be by - Answer-Community Property
Regarding community property, which of the following is TRUE? - Answer-Neither spouse may sell any
real estate owned as part of their community property, unless both spouses sign the sales contract and
deed.
A homestead is protected against judgments that result from - Answer-Unsecured creditors
In Texas, who is authorized to draft deeds, mortgages, deeds of trust, and notes? - Answer-An attorney
licensed to practice law
In Texas, licenses are renewed - Answer-In the month issued
A consumer prevails in a suit for a cause of action involving the Texas deceptive trade practices Act. The
maximum the consumer may be awarded by the court is - Answer-Actual damages, court costs, attorney
fees, and up to treble damages if the court finds conduct committee knowingly or intentionally
, A seller has no knowledge of any plumbing system problems on the property the seller is selling. In
actuality, however, the pipes are seriously corroded and will need to be replaced soon. On the sellers
disclosure of property condition, when responding to whether the seller is aware of plumbing system
problems, the seller should enter - Answer-No
Which would be considered acting in a lawful position as an intermediary? - Answer-Appointed licensees
communicating with and caring out the instructions of different principles in one transaction
Which would be considered acting in a lawful position as an intermediary - Answer-Appointed licensee
communicating with and caring out instructions of different principles in one transaction
As a result of a hearing, it was determined that a licensee had violated a provision of the licensing act
the maximum administrative penalty for the violation may not exceed - Answer-$5000 for each day the
violation continued
If engaged in real estate brokerage activities, which persons are exempt from the real estate license he
requirement - Answer-Attorneys at the law licensed in Texas
A broker signed a listing agreement with the seller. The agreement contains the following classes:
parentheses if the property has not been sold after three months from the date of the signing, this
agreement will automatically continue for additional three months . there after until the property is
sold." based on these facts, the agreement - Answer-Provides grounds for loss of the broker license
A licensed Texas broker may split fees and commissions with which of the following parties? - Answer-A
nonresident broker
The mandatory Brokerage Services form must be provided in all of the following situations EXCEPT -
Answer-It need not be provided in any of the above circumstances
