Texas Real Estate Principles 1 Exam Questions and Correct Answers
Trec Commision Membership
9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year
staggered term.
Texas Real Estate Borker Lawyer Committee
13 Members (6 brokers, 6 lawyers, 1 public)
General Eligibility Requirements to be Licensed by TREC
18 years old
a US citizen or lawfully admitted alien
resident of the state
A certificate is required seperate of the license when
buying, selling or leasing an easement pertaining to telecommunicaton,
utility, railroad or pipeline services.
Payments into Trust Account
ensures the availibility of a sufficient amount to pay on anticipated
claims on the trust account
A commission may suspend or revoke a license for
acting negligently or incompetently, comingling money and soliciting or
selling offers for the sale of real estate by means of a lottery
An appeal can be made on a decision by the commission
it must be taken to the district court in the county where the
administrative hearing was held.
When dealing with a client it is mandatory to give them
A copy of the "Information about brokerage services" form
, Texas Real Estate Principles 1 Exam Questions and Correct Answers
The three Canons for professional ethics and conduct for Real Estate
Licensees
Fidelity, Integrity, Competency
Under what circumstances can a person be called a "Realtor?"
That agent has to join the "NAR" National Association of Realtors to be
called a "Realtor"
What was the Fair Housing Laws or Civil Rights Act of 1866
FEDERAL LAW that where the only protected class was Race. No one can
discriminate because of RACE.
Civil Rights Act of 1968
Amended the Civil Rights Act of 1866 to include race, color, national
origin, religion,
Civil Rights Act of 1974
Amended to include Sex (Male or Female)
Civil Rights Act of 1988
Amended to include Handicap and Familial status
Define Handicapped
having a physical or mental disability (including hearing, mobility, visual
impairment, chronic mental illness and AIDS) that substantially limits one
or more major life activities.
Steering
Illigal practice of directing home seekers to a particular neighborhood
based on fair housing protected classes. An agent cannot steer even if
asked to by their client.
Trec Commision Membership
9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year
staggered term.
Texas Real Estate Borker Lawyer Committee
13 Members (6 brokers, 6 lawyers, 1 public)
General Eligibility Requirements to be Licensed by TREC
18 years old
a US citizen or lawfully admitted alien
resident of the state
A certificate is required seperate of the license when
buying, selling or leasing an easement pertaining to telecommunicaton,
utility, railroad or pipeline services.
Payments into Trust Account
ensures the availibility of a sufficient amount to pay on anticipated
claims on the trust account
A commission may suspend or revoke a license for
acting negligently or incompetently, comingling money and soliciting or
selling offers for the sale of real estate by means of a lottery
An appeal can be made on a decision by the commission
it must be taken to the district court in the county where the
administrative hearing was held.
When dealing with a client it is mandatory to give them
A copy of the "Information about brokerage services" form
, Texas Real Estate Principles 1 Exam Questions and Correct Answers
The three Canons for professional ethics and conduct for Real Estate
Licensees
Fidelity, Integrity, Competency
Under what circumstances can a person be called a "Realtor?"
That agent has to join the "NAR" National Association of Realtors to be
called a "Realtor"
What was the Fair Housing Laws or Civil Rights Act of 1866
FEDERAL LAW that where the only protected class was Race. No one can
discriminate because of RACE.
Civil Rights Act of 1968
Amended the Civil Rights Act of 1866 to include race, color, national
origin, religion,
Civil Rights Act of 1974
Amended to include Sex (Male or Female)
Civil Rights Act of 1988
Amended to include Handicap and Familial status
Define Handicapped
having a physical or mental disability (including hearing, mobility, visual
impairment, chronic mental illness and AIDS) that substantially limits one
or more major life activities.
Steering
Illigal practice of directing home seekers to a particular neighborhood
based on fair housing protected classes. An agent cannot steer even if
asked to by their client.
