Champions Exam Prep: State Questions and Answers | Latest Version | 2025/2026 | Correct & Verified

Champions Exam Prep: State Questions and Answers | Latest Version | 2025/2026 | Correct & Verified Which of the following is required in a Texas listing agreement? A) Broker’s licensed name B) Buyer’s credit score C) Bank loan terms D) Zoning classification What form must a license holder provide at first substantive contact in Texas? A) Property survey B) Information About Brokerage Services (IABS) C) Loan estimate D) Appraisal report When can a real estate license be suspended by TREC? A) For late social media posts B) For misrepresentation of material facts C) For unpaid utilities D) For declining to list a property Which statement about trust accounts in Texas is true? 2 A) Personal funds can be mixed B) Client funds must be deposited promptly C) No records are required D) Only cash is accepted What is a key duty owed to a client under Texas agency law? A) Arrange financing B) Confidentiality C) Guarantee appraisal value D) Provide legal advice A listing agent receives earnest money from a buyer. What must the agent do first? A) Spend it on marketing B) Deliver it to the broker for trust deposit C) Return it immediately D) Apply it to the listing broker’s commission Which describes “homestead protection” in Texas? A) A legal exemption from forced sale for debt B) A rental property rule C) A city zoning regulation D) An appraisal method 3 What must be included in every broker advertisement in Texas? A) Owner’s social security B) Licensed broker’s name C) Buyer’s name D) Inspection report In Texas, the state exam tests rules related to: A) Federal tax law only B) Texas real estate licensing and practice C) California real estate law D) Mortgage underwriting standards Which of these creates an enforceable real estate contract in Texas? A) Oral agreement only B) Written offer and acceptance C) Handshake agreement D) Email without signatures Which protected class is recognized under Texas housing law consistent with federal fair housing? A) National origin B) Income level C) Rental history 4 D) Education level What must a license holder disclose when selling their own property? A) Their licensed status B) Profit projections only C) Future interests D) Appraiser identity What is the deadline for a Texas license holder to notify TREC of a mailing address change? A) 60 days B) 10 days C) 30 days D) Immediate only at renewal Which of these is NOT required in a brokerage agreement? A) Commission rate B) Parties’ names C) Title insurance policy D) Property description Under Texas law, a license is invalid without: A) Sponsor’s signature only B) Active brokerage sponsorship 5 C) Buyer consent D) Federal approval Which action could result in disciplinary action by TREC? A) Completing CE early B) Practicing without a license C) Attending networking events D) Client referral only