PRINCIPLES OF REAL ESTATE 1 UPDATED EXAM SCRIPT
QUESTIONS AND ANSWERS GUARANTEE A+
✔✔Under the Equal Credit Opportunity Act, lenders must provide financing based on
which of the following criteria? - ✔✔Income
✔✔Blockbusting is also known as? - ✔✔panic selling
✔✔Any medical disorder, condition, disfigurement or loss affecting one of the body
systems is known as a...? - ✔✔Physical impairment
✔✔HUD fair housing complaints can be filed in which of the following ways/ - ✔✔Online
Mail
Phone
✔✔Which of the following is considered illegal under the Fair Housing Act...? -
✔✔Refusing to sell to a protected class
Refusing to show properties in neighborhoods based on racial criteria
Refusing to show properties in neighborhoods based on religious criteria
✔✔The intricacies in marketing properties for others involves...? - ✔✔Competency
✔✔An agent must be honest and truthful. This is an example of...? - ✔✔integrity
✔✔Which of the following is one of the TREC canons of professional ethics...? -
✔✔Fidelity
Integrity
Competency
✔✔If an agent does not abide by the TREC canons of professional ethics, which of the
following may occur...? - ✔✔The agent's license can be revoked
The agent's license can be suspended
The agent may be placed on probation
✔✔Fidelity, on TRECs canons of professional ethics, implies? - ✔✔Loyalty
✔✔In addition to the TREC canons of professional ethics, this organization also
publishes a code of ethics that must be followed by its members...? - ✔✔National
Association of Realtors
✔✔Who is legally entitled to receive a commission from a principal for a sale or rental of
the principal's property...? - ✔✔real estate broker
, ✔✔A real estate broker is authorized to perform which of the following acts...? -
✔✔Identify properties for purchase or lease
Deal or sell options on real estate
Auction off real estate
✔✔If an administrative penalty is not paid, who is responsible for collecting the
payment...? - ✔✔Attorney General
✔✔Which of the following is exempt from holding a real estate license...? - ✔✔A
homeowner looking to sell their house on their own
✔✔Who determines the standards for real estate licensing courses in Texas...? -
✔✔Texas Real Estate Commision
✔✔The subdivision plat method of describing property includes which of the
following...? - ✔✔Lots and Blocks
✔✔When using the metes and bounds method to describe property, the origin point is
also the...? - ✔✔End Point
✔✔If an individual uses sections to help describe a property, they are most likely using
which of the following methods...? - ✔✔Government Survey
✔✔Metes and bounds is an example of a...? - ✔✔Legal description
✔✔Which of the following property descriptions is not used in the State of Texas? -
✔✔Government Survey
✔✔Until a purchase contract is closed upon, it is considered a/an...? - ✔✔Executory
contract
✔✔If one of the parties in a real estate transaction are not considered competent, the
contract between the parties is considered a/an...? - ✔✔voidable contract
✔✔To mingle or mix, for example, a client's funds in the broker's personal or general
account is known as...? - ✔✔commingling
✔✔Which of the following real estate contracts must be in writing...? - ✔✔Purchase
contract for a multi-family property
Lease contract for greater than 1 year
Sales contract
✔✔Oral listing agreements between a seller and a broker are...? - ✔✔Unenforceable
QUESTIONS AND ANSWERS GUARANTEE A+
✔✔Under the Equal Credit Opportunity Act, lenders must provide financing based on
which of the following criteria? - ✔✔Income
✔✔Blockbusting is also known as? - ✔✔panic selling
✔✔Any medical disorder, condition, disfigurement or loss affecting one of the body
systems is known as a...? - ✔✔Physical impairment
✔✔HUD fair housing complaints can be filed in which of the following ways/ - ✔✔Online
Phone
✔✔Which of the following is considered illegal under the Fair Housing Act...? -
✔✔Refusing to sell to a protected class
Refusing to show properties in neighborhoods based on racial criteria
Refusing to show properties in neighborhoods based on religious criteria
✔✔The intricacies in marketing properties for others involves...? - ✔✔Competency
✔✔An agent must be honest and truthful. This is an example of...? - ✔✔integrity
✔✔Which of the following is one of the TREC canons of professional ethics...? -
✔✔Fidelity
Integrity
Competency
✔✔If an agent does not abide by the TREC canons of professional ethics, which of the
following may occur...? - ✔✔The agent's license can be revoked
The agent's license can be suspended
The agent may be placed on probation
✔✔Fidelity, on TRECs canons of professional ethics, implies? - ✔✔Loyalty
✔✔In addition to the TREC canons of professional ethics, this organization also
publishes a code of ethics that must be followed by its members...? - ✔✔National
Association of Realtors
✔✔Who is legally entitled to receive a commission from a principal for a sale or rental of
the principal's property...? - ✔✔real estate broker
, ✔✔A real estate broker is authorized to perform which of the following acts...? -
✔✔Identify properties for purchase or lease
Deal or sell options on real estate
Auction off real estate
✔✔If an administrative penalty is not paid, who is responsible for collecting the
payment...? - ✔✔Attorney General
✔✔Which of the following is exempt from holding a real estate license...? - ✔✔A
homeowner looking to sell their house on their own
✔✔Who determines the standards for real estate licensing courses in Texas...? -
✔✔Texas Real Estate Commision
✔✔The subdivision plat method of describing property includes which of the
following...? - ✔✔Lots and Blocks
✔✔When using the metes and bounds method to describe property, the origin point is
also the...? - ✔✔End Point
✔✔If an individual uses sections to help describe a property, they are most likely using
which of the following methods...? - ✔✔Government Survey
✔✔Metes and bounds is an example of a...? - ✔✔Legal description
✔✔Which of the following property descriptions is not used in the State of Texas? -
✔✔Government Survey
✔✔Until a purchase contract is closed upon, it is considered a/an...? - ✔✔Executory
contract
✔✔If one of the parties in a real estate transaction are not considered competent, the
contract between the parties is considered a/an...? - ✔✔voidable contract
✔✔To mingle or mix, for example, a client's funds in the broker's personal or general
account is known as...? - ✔✔commingling
✔✔Which of the following real estate contracts must be in writing...? - ✔✔Purchase
contract for a multi-family property
Lease contract for greater than 1 year
Sales contract
✔✔Oral listing agreements between a seller and a broker are...? - ✔✔Unenforceable
