Comprehensive Study 1 Up to Date Content
TX-Brokerage (SAE) Latest
Questions and Graded Answers
The _____ is required to ascertain that Brokers are aware of
all of their responsibilities.
Ans: Texas Real Estate Commission
The _____ course is to address the regulatory aspects of the
management, operation and supervision of a real estate
brokerage firm in Texas. The course provides an
understanding and working knowledge of a broker's
responsibilities and obligations under 22 TAC §535.2.
Ans: Broker Responsibility MCE
Who Must Take The Broker Responsibility MCE Course?
Ans: A broker who sponsors salespersons, a
designated broker of a business entity, and a license
holder who is a delegated supervisor of one or more
license holders (for six months or more during the
supervisor's current license period), to complete this
six—hour broker responsibility course to renew a
license.
"Act of God"
Ans: A natural disaster or fire
Broker must, at a minimum, maintain the following records
in a format that is readily available to the Commission for at
least ____ years from the date of closing, termination of the
contract, or end of a real estate transaction
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,Comprehensive Study 2 Up to Date Content
Ans: 4
Recruitment of a salesperson by a broker is not regulated
with the exception that instructors or other persons
associated with a ___ may NOT recruit or solicit prospective
salespersons or brokers in a classroom during class time
Ans: School
There is no provision in the Act or the TREC Rules
prohibiting a broker from _____ a salesperson or broker—
associate affiliated with another broker.
Ans: Recruiting
________ are exempt from any of the provisions of the Texas
Real Estate License Act. They are permitted to represent
clients in real estate transactions by virtue of their license to
practice law.
Ans: Attorneys
Brokers CANNOT share their fees with attorneys who
perform a brokerage service, attorneys must seek
compensation for that service directly from one of the ______
in a transaction
Ans: Principals
Can a listing broker share a portion of the listing broker's
commission with an attorney who represented the buyer in a
real estate transaction?
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,Comprehensive Study 3 Up to Date Content
Ans: No. A broker is prohibited from sharing fees
with or otherwise compensating the attorney acting
as a buyer's agent unless the attorney holds an active
real estate license.
Is a link to the IABS form required on my website?
Ans: Yes. Rule 531.20(b) states that each broker and
sales agent must provide a link on its homepage to
the IABS Form labeled "Texas Real Estate
Commission Information About Brokerage Services".
IABS link must be in at least a ______ point font and in a
readily noticeable place on the homepage of the business
website of the broker and sales agent.
Ans: 10
Does a link to the IABS Form in my email signature satisfy
the representation disclosure required by TRELA §1101.558?
Ans: No. Rule 531.20(d) states that providing a link
to the IABS Form in a footnote or signature block of
an email is insufficient
The IABS Form can be provided by:
Ans: (1) personal delivery; (2) first class mail or
overnight common carrier delivery service; (3) in the
body of an email; or (4) as an attachment to an email
or as a link in the body of an email so long as there is
a specific reference to the IABS Form in the body of
the email.
Reasons people give for wanting to open their own
Brokerage:
Up to Date Content
, Comprehensive Study 4 Up to Date Content
Ans: Wanting to create something from scratch,
Wanting to be their own boss, Wanting to train and
motivate real estate agents to be successful, Wanting
to be leader in their community or in the industry,
An entrepreneurial spirit
Two good resources for finding past statistic for the real
estate industry are
Ans: The National Association of REALTORS® and
the Real Estate Center at Texas A&M University.
The _______ indicates the strength of the economy.
Ans: Gross domestic product or GDP
Most good economies have a GDP of about _____
Ans: 3%
A new broker will need a good real estate attorney and a
good _____ on their team.
Ans: Certified public accountant (CPA)
The Rules of the Texas Real Estate Commission require that a
Broker have a_______ before you start hiring agents
Ans: Policy and Procedures Manual
Policy and Procedures Manual must include
Ans: Agent's Authorized Activity, Advertising,
Compensation, Records Management, Trust Accounts
The new broker will want to consider three possibilities.
Up to Date Content
TX-Brokerage (SAE) Latest
Questions and Graded Answers
The _____ is required to ascertain that Brokers are aware of
all of their responsibilities.
Ans: Texas Real Estate Commission
The _____ course is to address the regulatory aspects of the
management, operation and supervision of a real estate
brokerage firm in Texas. The course provides an
understanding and working knowledge of a broker's
responsibilities and obligations under 22 TAC §535.2.
Ans: Broker Responsibility MCE
Who Must Take The Broker Responsibility MCE Course?
Ans: A broker who sponsors salespersons, a
designated broker of a business entity, and a license
holder who is a delegated supervisor of one or more
license holders (for six months or more during the
supervisor's current license period), to complete this
six—hour broker responsibility course to renew a
license.
"Act of God"
Ans: A natural disaster or fire
Broker must, at a minimum, maintain the following records
in a format that is readily available to the Commission for at
least ____ years from the date of closing, termination of the
contract, or end of a real estate transaction
Up to Date Content
,Comprehensive Study 2 Up to Date Content
Ans: 4
Recruitment of a salesperson by a broker is not regulated
with the exception that instructors or other persons
associated with a ___ may NOT recruit or solicit prospective
salespersons or brokers in a classroom during class time
Ans: School
There is no provision in the Act or the TREC Rules
prohibiting a broker from _____ a salesperson or broker—
associate affiliated with another broker.
Ans: Recruiting
________ are exempt from any of the provisions of the Texas
Real Estate License Act. They are permitted to represent
clients in real estate transactions by virtue of their license to
practice law.
Ans: Attorneys
Brokers CANNOT share their fees with attorneys who
perform a brokerage service, attorneys must seek
compensation for that service directly from one of the ______
in a transaction
Ans: Principals
Can a listing broker share a portion of the listing broker's
commission with an attorney who represented the buyer in a
real estate transaction?
Up to Date Content
,Comprehensive Study 3 Up to Date Content
Ans: No. A broker is prohibited from sharing fees
with or otherwise compensating the attorney acting
as a buyer's agent unless the attorney holds an active
real estate license.
Is a link to the IABS form required on my website?
Ans: Yes. Rule 531.20(b) states that each broker and
sales agent must provide a link on its homepage to
the IABS Form labeled "Texas Real Estate
Commission Information About Brokerage Services".
IABS link must be in at least a ______ point font and in a
readily noticeable place on the homepage of the business
website of the broker and sales agent.
Ans: 10
Does a link to the IABS Form in my email signature satisfy
the representation disclosure required by TRELA §1101.558?
Ans: No. Rule 531.20(d) states that providing a link
to the IABS Form in a footnote or signature block of
an email is insufficient
The IABS Form can be provided by:
Ans: (1) personal delivery; (2) first class mail or
overnight common carrier delivery service; (3) in the
body of an email; or (4) as an attachment to an email
or as a link in the body of an email so long as there is
a specific reference to the IABS Form in the body of
the email.
Reasons people give for wanting to open their own
Brokerage:
Up to Date Content
, Comprehensive Study 4 Up to Date Content
Ans: Wanting to create something from scratch,
Wanting to be their own boss, Wanting to train and
motivate real estate agents to be successful, Wanting
to be leader in their community or in the industry,
An entrepreneurial spirit
Two good resources for finding past statistic for the real
estate industry are
Ans: The National Association of REALTORS® and
the Real Estate Center at Texas A&M University.
The _______ indicates the strength of the economy.
Ans: Gross domestic product or GDP
Most good economies have a GDP of about _____
Ans: 3%
A new broker will need a good real estate attorney and a
good _____ on their team.
Ans: Certified public accountant (CPA)
The Rules of the Texas Real Estate Commission require that a
Broker have a_______ before you start hiring agents
Ans: Policy and Procedures Manual
Policy and Procedures Manual must include
Ans: Agent's Authorized Activity, Advertising,
Compensation, Records Management, Trust Accounts
The new broker will want to consider three possibilities.
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