AYPO REAL ESTATE PRINCIPLES OF
REAL ESTATE I EXAM STUDY GUIDE
QUESTIONS AND COMPLETE
OPTIONS
The Texas Real Estate Broker-Lawyer Committee consists of 13 members appointed as follows:
ANSW✅✅six members appointed by the commission; six members of the State Bar of Texas
appointed by the president of the state bar; and one public member appointed by the governor
An educational institution shall maintain a corporate surety bond or other security acceptable to the
commission that is in the amount of: ANSW✅✅$20,000
When the relationship of a sales agent with the sales agent's sponsoring broker terminates, the
terminating party shall immediately notify: ANSW✅✅in writing both the other party and the
commission.
The commission shall waive the examination requirement for an applicant for a broker or sales agent
license if: ANSW✅✅Both of these are required
The commission by rule may: ANSW✅✅prescribe the title, content, and duration of continuing
education courses that a license holder must attend to renew a license
A person may not sell, buy, lease, or transfer an easement or right-of-way for another, for
compensation or with the expectation of receiving compensation, for use in connection with
telecommunication, utility, railroad, or pipeline service unless the person: ANSW✅✅1. Holds a
license issued under this chapter
2. Holds a certificate of registration issued under this subchapter
When must a broker report a change of address to the commission? ANSW✅✅Not later than the
10th day after the date a broker moves from the address designated on the broker's license
The commission shall maintain a real estate recovery trust account to reimburse aggrieved persons
who suffer actual damages caused by an act described by Section 1101.602 committed by:
ANSW✅✅1. A certificate holder.
, 2. a license holder.
3. a person who does not hold a license or certificate and who is an employee or agent of a license
or certificate holder.
The executive director shall give notice of the commission's order to the person. The notice must:
ANSW✅✅1. inform the person of the person's right to judicial review of the order
2. state the amount of any penalty imposed
3. include the findings of fact and conclusions of law, separately stated
A person who receives a commission or other consideration as a result of acting as a broker or sales
agent without holding a license or certificate of registration under this chapter is liable to an
aggrieved person for a penalty of not less than the amount of money received or more than three
times the amount of money received. ANSW✅✅TRUE
A license holder is not liable for a misrepresentation or a concealment of a material fact made by a
party to a real estate transaction unless the license holder: ANSW✅✅knew of the
misrepresentation or concealment and failed to disclose the license holder's knowledge of the
misrepresentation or concealment.
Metes comes from the word for... ANSW✅✅measuring.
What is the term for a six-mile-square area of land containing 36 sections which is numbered
according to its position either north or south of the baseline? ANSW✅✅Town
Which of the following is a general term for properties involving an approved survey map and plans
that describe each lot or unit and that is recorded with the county? ANSW✅✅Platted
In the rectangular survey system, what are straight, imaginary lines running north and south and
parallel to a Principal Meridian? ANSW✅✅Range lines
Legal descriptions generally can be found by searching by: ANSW✅✅1. public lands records
2. tax records
A place on the survey where there is an unintentional space between properties is what?
ANSW✅✅Gap
REAL ESTATE I EXAM STUDY GUIDE
QUESTIONS AND COMPLETE
OPTIONS
The Texas Real Estate Broker-Lawyer Committee consists of 13 members appointed as follows:
ANSW✅✅six members appointed by the commission; six members of the State Bar of Texas
appointed by the president of the state bar; and one public member appointed by the governor
An educational institution shall maintain a corporate surety bond or other security acceptable to the
commission that is in the amount of: ANSW✅✅$20,000
When the relationship of a sales agent with the sales agent's sponsoring broker terminates, the
terminating party shall immediately notify: ANSW✅✅in writing both the other party and the
commission.
The commission shall waive the examination requirement for an applicant for a broker or sales agent
license if: ANSW✅✅Both of these are required
The commission by rule may: ANSW✅✅prescribe the title, content, and duration of continuing
education courses that a license holder must attend to renew a license
A person may not sell, buy, lease, or transfer an easement or right-of-way for another, for
compensation or with the expectation of receiving compensation, for use in connection with
telecommunication, utility, railroad, or pipeline service unless the person: ANSW✅✅1. Holds a
license issued under this chapter
2. Holds a certificate of registration issued under this subchapter
When must a broker report a change of address to the commission? ANSW✅✅Not later than the
10th day after the date a broker moves from the address designated on the broker's license
The commission shall maintain a real estate recovery trust account to reimburse aggrieved persons
who suffer actual damages caused by an act described by Section 1101.602 committed by:
ANSW✅✅1. A certificate holder.
, 2. a license holder.
3. a person who does not hold a license or certificate and who is an employee or agent of a license
or certificate holder.
The executive director shall give notice of the commission's order to the person. The notice must:
ANSW✅✅1. inform the person of the person's right to judicial review of the order
2. state the amount of any penalty imposed
3. include the findings of fact and conclusions of law, separately stated
A person who receives a commission or other consideration as a result of acting as a broker or sales
agent without holding a license or certificate of registration under this chapter is liable to an
aggrieved person for a penalty of not less than the amount of money received or more than three
times the amount of money received. ANSW✅✅TRUE
A license holder is not liable for a misrepresentation or a concealment of a material fact made by a
party to a real estate transaction unless the license holder: ANSW✅✅knew of the
misrepresentation or concealment and failed to disclose the license holder's knowledge of the
misrepresentation or concealment.
Metes comes from the word for... ANSW✅✅measuring.
What is the term for a six-mile-square area of land containing 36 sections which is numbered
according to its position either north or south of the baseline? ANSW✅✅Town
Which of the following is a general term for properties involving an approved survey map and plans
that describe each lot or unit and that is recorded with the county? ANSW✅✅Platted
In the rectangular survey system, what are straight, imaginary lines running north and south and
parallel to a Principal Meridian? ANSW✅✅Range lines
Legal descriptions generally can be found by searching by: ANSW✅✅1. public lands records
2. tax records
A place on the survey where there is an unintentional space between properties is what?
ANSW✅✅Gap
