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TEXAS REAL ESTATE BROKERAGE SAE
FINAL EXAM AND PRACTICE EXAM
NEWEST 2025 ACTUAL EXAM 450
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS)
Identify the forms that current law requires to be used in all lender-
financed residential closings.
GFE and Loan Estimate
GFE and TIL
Loan Estimate and Closing Disclosure
Loan Estimate and TIL - ..........ANSWER.......The law requires two
specific forms—the Loan Estimate and Closing Disclosure—to be
used for all residential closings.
Broker Amanda is getting discouraged. Even though she's only had
her brokerage open for a few months, she's having second thoughts
about her business's original long-range plan. What should she do?
She should scrap the original long-range plan immediately and come
up with a new one.
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She should stick with the original long-range plan for however long
it takes to make it work, even if it's several years down the road.
She should stick with the original long-range plan until her
brokerage has been in business for at least six months, and then
come up with a new plan.
She should stick with the original long-range plan until she's
established her company's position in the marketplace. -
..........ANSWER.......She should stick with the original long-range plan
until she's established her company's position in the marketplace.
When you're creating a business, there may be trends or ideas that
tempt you to change course. Your long-range plan is there to remind
you of your end goal, and the reliable, strategic road map you're
following to get there.
Which one of these professional development opportunities is
designed to give a licensee expertise in a particular area and to
recognize the licensee's commitment to professional education?
Professional designation or certification
Real estate conference
Real estate seminar
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Required continuing education - ..........ANSWER.......Professional
designations show an ongoing commitment to professional
education and offer a way to become an expert in an area of interest.
Which of the following requires that contracts transferring
ownership of real property be in writing to be enforceable?
Code of ethics
Fair Housing Act
Statute of frauds
Statute of limitations - ..........ANSWER.......Statute of frauds
Broker Craig fires salesperson Enrique for violating a provision of
the license law. Which of the following is true of this situation?
This is a valid reason to terminate the licensee's affiliation with the
broker.
This is not a valid reason for the broker to terminate his affiliation
with a licensee.
This is only a valid reason for the broker to terminate his affiliation
with the licensee if the broker's given the licensee a written warning
before the licensee violated the law the last time.
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This is only a valid reason for the broker to terminate the licensee's
affiliation if the real estate commission has revoked or suspended
the licensee's license for this legal violation. - ..........ANSWER.......This
is a valid reason to terminate the licensee's affiliation with the
broker.
A salesperson who's guilty of violating real estate law or brokerage
policy should receive disciplinary action and possibly termination,
depending on the severity of the misconduct.
Which of the following gives employers the right to hire and fire
people with or without a reasonable cause?
The doctrine of employment-at-will
The doctrine of independent contractor status
The Fair Labor Standards Act
The U.S. Equal Employment Opportunity Commission -
..........ANSWER.......doctrine of Employment-at-will is in place in all
states, but may be applied differently when the state has other laws
or regulations that affect it.
Which of the following statements describes business objectives?
TEXAS REAL ESTATE BROKERAGE SAE
FINAL EXAM AND PRACTICE EXAM
NEWEST 2025 ACTUAL EXAM 450
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS)
Identify the forms that current law requires to be used in all lender-
financed residential closings.
GFE and Loan Estimate
GFE and TIL
Loan Estimate and Closing Disclosure
Loan Estimate and TIL - ..........ANSWER.......The law requires two
specific forms—the Loan Estimate and Closing Disclosure—to be
used for all residential closings.
Broker Amanda is getting discouraged. Even though she's only had
her brokerage open for a few months, she's having second thoughts
about her business's original long-range plan. What should she do?
She should scrap the original long-range plan immediately and come
up with a new one.
,2|Page
She should stick with the original long-range plan for however long
it takes to make it work, even if it's several years down the road.
She should stick with the original long-range plan until her
brokerage has been in business for at least six months, and then
come up with a new plan.
She should stick with the original long-range plan until she's
established her company's position in the marketplace. -
..........ANSWER.......She should stick with the original long-range plan
until she's established her company's position in the marketplace.
When you're creating a business, there may be trends or ideas that
tempt you to change course. Your long-range plan is there to remind
you of your end goal, and the reliable, strategic road map you're
following to get there.
Which one of these professional development opportunities is
designed to give a licensee expertise in a particular area and to
recognize the licensee's commitment to professional education?
Professional designation or certification
Real estate conference
Real estate seminar
,3|Page
Required continuing education - ..........ANSWER.......Professional
designations show an ongoing commitment to professional
education and offer a way to become an expert in an area of interest.
Which of the following requires that contracts transferring
ownership of real property be in writing to be enforceable?
Code of ethics
Fair Housing Act
Statute of frauds
Statute of limitations - ..........ANSWER.......Statute of frauds
Broker Craig fires salesperson Enrique for violating a provision of
the license law. Which of the following is true of this situation?
This is a valid reason to terminate the licensee's affiliation with the
broker.
This is not a valid reason for the broker to terminate his affiliation
with a licensee.
This is only a valid reason for the broker to terminate his affiliation
with the licensee if the broker's given the licensee a written warning
before the licensee violated the law the last time.
, 4|Page
This is only a valid reason for the broker to terminate the licensee's
affiliation if the real estate commission has revoked or suspended
the licensee's license for this legal violation. - ..........ANSWER.......This
is a valid reason to terminate the licensee's affiliation with the
broker.
A salesperson who's guilty of violating real estate law or brokerage
policy should receive disciplinary action and possibly termination,
depending on the severity of the misconduct.
Which of the following gives employers the right to hire and fire
people with or without a reasonable cause?
The doctrine of employment-at-will
The doctrine of independent contractor status
The Fair Labor Standards Act
The U.S. Equal Employment Opportunity Commission -
..........ANSWER.......doctrine of Employment-at-will is in place in all
states, but may be applied differently when the state has other laws
or regulations that affect it.
Which of the following statements describes business objectives?
