Level 9 Texas Real Estate License Act Exam Practice Questions and Answers

Level 9 Texas Real Estate License Act Exam Practice Questions and Answers The Texas Real Estate License Act is Chapter 1101 of the: a. Texas Occupations Code b. Texas Statute of Frauds c. Texas Fair Housing Laws d. Texas Federal Real Estate Act - Answer️️ -Texas Occupations Code What is a main function of the Texas Real Estate Commission? a. adopt and enforce rules for governing real estate practitioners b. mediate commission disputes between brokers c. generate a source of income for the state d. provide low-interest loans for low-income, first-time homebuyers - Answer️️ -adopt and enforce rules for governing real estate practitioners Which of the following people would need a real estate license? a. a person selling their neighbor's home for a fee b. an on-site apartment manager c. a homeowner selling their own home d. the receptionist at an attorney's office - Answer️️ -a person selling their neighbors home for a fee Which of these actions requires a real estate license to legally perform? a. Shane helping his friend sell his home for $500,000. ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM Page | 2 b. Jenny selling her own home for $175,000. c. Callie buying a home for $205,000. d. Michael renting a room in his house for $300/month. - Answer️️ -Shane helping his friend sell his home for $500,000 A person who is employed to rent land by the owner needs a real estate license. a. FALSE b. TRUE - Answer️️ -False What categories of people are barred from serving on the Commission? a. Trade association employees and lobbyists are barred from membership. b. Active brokers and salespersons are barred from membership. c. No, anyone can become a member if they meet the other qualifications. d. Builders and developers are barred from membership. - Answer️️ -Trade association employees and lobbyists are barred from membership Who designates a broker member of the Commission to serve as a presiding officer? a. the governor b. the mayor c. the sheriff d. the district attorney - Answer️️ -the governor How often will you be formally evaluated in the workplace? a. annually b. monthly c. weekly d. daily - Answer️️ -annually ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM Page | 3 What law (chapter) imposes a code of ethics and standard of conduct on members of the Commission? a. Chapter 572 b. Chapter 1101 c. the NAR Code of Ethics d. the TREC Canon of Professional Responsibility. - Answer️️ -Chapter 572 Who is responsible for informing employees of their conduct expectations and responsibilities? a. commissioners b. supervisors c. managers d. department heads - Answer️️ -commissioners Promulgated contracts are prepared by: a. TREC b. agents c. lawyers hired by brokerages d. ONLY attorneys - Answer️️ -TREC What is one instance in which the commission allows license holders to use alternatives to the required, or promulgated, forms? a. If the alternative form is prepared by the property owner themselves. b. If the promulgated form is unavailable. c. If the promulgated form has not recently been updated. ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM Page | 4 d. If the alternative form is more comprehensive than the promulgated form. - Answer️️ -if the alternative form is prepared by the property owner themselves All listing contracts in Texas must include two pieces of information: the special rules concerning anyone who lives on a coast and what else? a. that all commissions are negotiable b. the name of the listing agent and broker c. the seller's disclosure notice d. whether a property has a Homeowner's Association - Answer️️ -that all commissions are negotiable Subpoena authority exists to: a. allow the commission to bring witnesses to court b. allow the commission to revoke a license from a license holder c. allow a license holder to sue the commission d. allow a license holder to circumvent the commission - Answer️️ -allow the commission to bring witnesses to court Who enforces the Texas Real Estate License Act? a. Texas Real Estate Commission b. National Association of Realtors c. Texas Association of Realtors d. Texas Department of Public Safety - Answer️️ -Texas Real Estate Commission TRELA is a law passed by the Texas Legislature to govern