Texas Real Estate Principles 1 - Unit 1
Exam
The Committee has _____ members appointed by the Commission. - Answer-12
The __________ is a statute that is administered and enforced by the Texas Real Estate Commission
(TREC), which is a state agency. - Answer-Real Estate License Act
A successful career in real estate requires someone to: - Answer-be a self-started.
A peak is characterized as the __________ turning point of a business cycle. - Answer-upper
To be eligible to get a Texas real estate sales agent or broker license, a person must: - Answer-All of the
choices apply
Which of the following is not a duty of TREC? - Answer-Creates state laws, statues, and rules
What are changes in business and economic activity that occur within the year? - Answer-Short-term
fluctuations.
, The majority of new licensees begin their careers with a __________ to help homeowners sell and
homebuyers purchase homes. - Answer-residential brokerage
Which of the following statements is true regarding NAR and TAR? - Answer-All of the choices apply.
Any person who wants to engage in the real estate business and act as a real estate broker or real estate
sales agent within the state of Texas must obtain a license from the: - Answer-Texas Real Estate
Commission.
The Education Standards Advisory Committee is responsible for reviewing and revising: - Answer-All of
the choices apply.
A(n) __________ is a rule issued by an administrative agency to enforce or amplify a statute. - Answer-
regulation
A __________ is a voluntary nonprofit organization of independent and competing business units
engaged in the same industry or trade, formed to help solve industry problems, promote progress, and
enhance service. - Answer-trade association
Which of the following is true regarding the employee tax status for real estate sales agents or broker-
sales agents? - Answer-All of the choices apply.
Which of the following gives buyers the best opportunity to purchase real estate? - Answer-Trough
In addition to the legal and ethical requirements, to be eligible to get a Texas real estate sales agent or
broker license, the applicant must: - Answer-both complete the required courses of study and pass the
state licensing examination.
Real estate agents who do not comply with the duties and obligations required by law may be subject
to: - Answer-All of the choices apply.
Exam
The Committee has _____ members appointed by the Commission. - Answer-12
The __________ is a statute that is administered and enforced by the Texas Real Estate Commission
(TREC), which is a state agency. - Answer-Real Estate License Act
A successful career in real estate requires someone to: - Answer-be a self-started.
A peak is characterized as the __________ turning point of a business cycle. - Answer-upper
To be eligible to get a Texas real estate sales agent or broker license, a person must: - Answer-All of the
choices apply
Which of the following is not a duty of TREC? - Answer-Creates state laws, statues, and rules
What are changes in business and economic activity that occur within the year? - Answer-Short-term
fluctuations.
, The majority of new licensees begin their careers with a __________ to help homeowners sell and
homebuyers purchase homes. - Answer-residential brokerage
Which of the following statements is true regarding NAR and TAR? - Answer-All of the choices apply.
Any person who wants to engage in the real estate business and act as a real estate broker or real estate
sales agent within the state of Texas must obtain a license from the: - Answer-Texas Real Estate
Commission.
The Education Standards Advisory Committee is responsible for reviewing and revising: - Answer-All of
the choices apply.
A(n) __________ is a rule issued by an administrative agency to enforce or amplify a statute. - Answer-
regulation
A __________ is a voluntary nonprofit organization of independent and competing business units
engaged in the same industry or trade, formed to help solve industry problems, promote progress, and
enhance service. - Answer-trade association
Which of the following is true regarding the employee tax status for real estate sales agents or broker-
sales agents? - Answer-All of the choices apply.
Which of the following gives buyers the best opportunity to purchase real estate? - Answer-Trough
In addition to the legal and ethical requirements, to be eligible to get a Texas real estate sales agent or
broker license, the applicant must: - Answer-both complete the required courses of study and pass the
state licensing examination.
Real estate agents who do not comply with the duties and obligations required by law may be subject
to: - Answer-All of the choices apply.
