Real Estate Sales License Questions With
Accurate Solutions 2025\2026 A+ Grade.
Subpoena
- accurate answers-Document ordering a person to appear at deposition or
court proceeding to testify or produce evidence.
Revocation
- accurate answers-When someone who granted or offered something
withdraws it; as when a principal withdraws the authority granted to the
agent, an offeror withdraws the offer.
Texas Real Estate Commission
- accurate answers-Responsible for administering provisions of the Texas Real
Estate License Act.
Texas Real Estate License Act
- accurate answers-Sets of standards of conduct to protect the public against
unscrupulous brokers and salespersons.
Real Estate Recovery Trust Account
- accurate answers-An account used to reimburse members of the public who
have been financially injured or damaged by the actions of a real estate broker
or salesperson.
- the aggrieved person must obtain a valid judgment in a court of competent
jurisdiction
- The real estate recovery trust account must have a minimum remaining
balance of $1 million
- No action for judgment, which results in an order for collection from the real
estate recovery trust account, shall be started later than two years from the
accrual of the cause of action.
Continuing Education
- accurate answers-Mandatory education requirement for all licensees every 2
years.
,Disclosures
- accurate answers-Points or facts that must be revealed. For example, the law
requires certain financial disclosures, specific disclosures for ARM's, and
disclosures under Truth-In-Lending Act.
Earnest Money
- accurate answers-1. Money offered as Ain indication of good faith regarding
the future performance of a purchase agreement.
2. A tenant's security deposit. Also called: Deposit
Federal Fair Housing Act
- accurate answers-Common name for Title VIII of the Civil Rights Act of 1968.
Ethics
- accurate answers-A system of moral rules and standards
Suspension
- accurate answers-When a real estate agent's license is temporarily
withdrawn. Usually reactivation is automatic the day after the suspension is
lifted.
Canons of Professional Ethics and Conduct
- accurate answers-Adopted by the Texas Real Estate Commission to establish
a basis for professional conduct of licensed real estate brokers and
salespeople.
Not all licensees are members of any real estate trade associations; licensees
that are members of a trade association, however, are expected to abide by
the real estate commission Canons of Professional Ethics and Conduct as well
as any Code of Ethics imposed by a trade association.
ECOA
- accurate answers-Equal Credit Opportunity Act - Federal law that prohibits
discrimination in granting credit to people based on sex, age, marital status,
race, color, religion, national origin or receipt of public assistance.
Agent
- accurate answers-A person licensed to represent another in a real estate
, transaction; or a person authorized to represent another (the principle) in
dealings with third parties.
Client
- accurate answers-Person who employs a broker, lawyer or other
professional. Real estate clients can be sellers, buyers, or both.
Confidential Information
- accurate answers-All information the client directs to be confidential, which,
if disclosed, would have an adverse effect on the client's position.
Customer
- accurate answers-A party in a transaction to whom an agent does not have a
fiduciary duty or relationship, but to whom an agent must still be fair and
honest.
In-Company Contract
- accurate answers-Transaction in which the buyer and seller are both
represented by the same brokerage.
Subagent
- accurate answers-An agent of an agent; a person that an agent has delegated
authority to, so that the subagent can assist in carrying out the principal's
orders.
Agency
- accurate answers-A relationship of trust created when one person (the
principal) gives another person (the agent) the right to represent the principal
in dealings with third parties.
Agency Disclosure Statement
- accurate answers-Form that states whether an agent is representing the
seller or the buyer, or both, in a transaction.
Dual Agency
- accurate answers-When a broker or salesperson represents both parties
(buyer and seller) in a transaction, AND all management level licensees at a
brokerage.
Accurate Solutions 2025\2026 A+ Grade.
Subpoena
- accurate answers-Document ordering a person to appear at deposition or
court proceeding to testify or produce evidence.
Revocation
- accurate answers-When someone who granted or offered something
withdraws it; as when a principal withdraws the authority granted to the
agent, an offeror withdraws the offer.
Texas Real Estate Commission
- accurate answers-Responsible for administering provisions of the Texas Real
Estate License Act.
Texas Real Estate License Act
- accurate answers-Sets of standards of conduct to protect the public against
unscrupulous brokers and salespersons.
Real Estate Recovery Trust Account
- accurate answers-An account used to reimburse members of the public who
have been financially injured or damaged by the actions of a real estate broker
or salesperson.
- the aggrieved person must obtain a valid judgment in a court of competent
jurisdiction
- The real estate recovery trust account must have a minimum remaining
balance of $1 million
- No action for judgment, which results in an order for collection from the real
estate recovery trust account, shall be started later than two years from the
accrual of the cause of action.
Continuing Education
- accurate answers-Mandatory education requirement for all licensees every 2
years.
,Disclosures
- accurate answers-Points or facts that must be revealed. For example, the law
requires certain financial disclosures, specific disclosures for ARM's, and
disclosures under Truth-In-Lending Act.
Earnest Money
- accurate answers-1. Money offered as Ain indication of good faith regarding
the future performance of a purchase agreement.
2. A tenant's security deposit. Also called: Deposit
Federal Fair Housing Act
- accurate answers-Common name for Title VIII of the Civil Rights Act of 1968.
Ethics
- accurate answers-A system of moral rules and standards
Suspension
- accurate answers-When a real estate agent's license is temporarily
withdrawn. Usually reactivation is automatic the day after the suspension is
lifted.
Canons of Professional Ethics and Conduct
- accurate answers-Adopted by the Texas Real Estate Commission to establish
a basis for professional conduct of licensed real estate brokers and
salespeople.
Not all licensees are members of any real estate trade associations; licensees
that are members of a trade association, however, are expected to abide by
the real estate commission Canons of Professional Ethics and Conduct as well
as any Code of Ethics imposed by a trade association.
ECOA
- accurate answers-Equal Credit Opportunity Act - Federal law that prohibits
discrimination in granting credit to people based on sex, age, marital status,
race, color, religion, national origin or receipt of public assistance.
Agent
- accurate answers-A person licensed to represent another in a real estate
, transaction; or a person authorized to represent another (the principle) in
dealings with third parties.
Client
- accurate answers-Person who employs a broker, lawyer or other
professional. Real estate clients can be sellers, buyers, or both.
Confidential Information
- accurate answers-All information the client directs to be confidential, which,
if disclosed, would have an adverse effect on the client's position.
Customer
- accurate answers-A party in a transaction to whom an agent does not have a
fiduciary duty or relationship, but to whom an agent must still be fair and
honest.
In-Company Contract
- accurate answers-Transaction in which the buyer and seller are both
represented by the same brokerage.
Subagent
- accurate answers-An agent of an agent; a person that an agent has delegated
authority to, so that the subagent can assist in carrying out the principal's
orders.
Agency
- accurate answers-A relationship of trust created when one person (the
principal) gives another person (the agent) the right to represent the principal
in dealings with third parties.
Agency Disclosure Statement
- accurate answers-Form that states whether an agent is representing the
seller or the buyer, or both, in a transaction.
Dual Agency
- accurate answers-When a broker or salesperson represents both parties
(buyer and seller) in a transaction, AND all management level licensees at a
brokerage.
