CE Shop practice exam/: Texas 30-
Hour Principles of Real Estate I
Course Wrap-Up
Jayne was tired of waiting for her subcontractor to get his part of the deal done. The agreed-upon
deadlines
came and went, and Jayne lost money waiting for the subcontractor to come through. She decided that
if the
subcontractor weren't going to honor his commitments, neither was she, so Jayne consulted. with her
attorney and
then terminated the contract. This is an example of - Answer-Rescinding the contract unilaterally
What does the metes and bounds system use to develop a property's legal description? - Answer-
Compass headings and directions
In Texas, the Information About Brokerage Services form ______. - Answer-Is required by law
Who is responsible for appointing the members of the Texas Real Estate Commission? - Answer-The
governor of Texas
What is the starting point for any land surveyor who has been asked to perform a survey? - Answer-A
review of existing historical records
Which of the following trusts is created according to the terms of the will of a deceased person? -
Answer-Testamentary
What is the maximum payment amount for a claim from the Recovery Trust Account for a single
transaction? - Answer-$50,000
, The Education Standards Advisory Committee is comprised of ______ members. - Answer-12
The seller of property that may be subject to a private transfer fee must provide the prospective buyer
with which written notice? - Answer-Private Transfer Fee Obligation
Betty hired a contractor to replace her gutters. Within days, the gutters leaked and flooded her
basement. She complained to the contractor, who replaced the gutters again. The next time it rained,
the gutters leaked and flooded Betty's basement a second time. Frustrated, Betty decided to file a
lawsuit against the contractor in an attempt to recover the money she lost. This is an example of
______. - Answer-Suing for damages and breach of contract
"Separate property" is property most likely acquired ______. - Answer-Prior to marriage
What type of listing agreement provides the sellers with the opportunity to enter into listing contracts
with multiple agents and still reserve the right to sell the property themselves, owing no commission? -
Answer-Open listing
What amount of liability does a Texas licensee who acted in cooperation with another person(s) to
commit a third-degree felony have? - Answer-Joint and separate responsibility for all damages
According to the Department of Justice, an agreement between competitors to establish or adhere to
uniform price discounts is a type of which antitrust violation? - Answer-Price fixing
What's the permanent marker used primarily for marking datums when measuring elevation? - Answer-
Benchmark
_____ is a permanent reference points used for marking datums. - Answer-Benchmark
Hour Principles of Real Estate I
Course Wrap-Up
Jayne was tired of waiting for her subcontractor to get his part of the deal done. The agreed-upon
deadlines
came and went, and Jayne lost money waiting for the subcontractor to come through. She decided that
if the
subcontractor weren't going to honor his commitments, neither was she, so Jayne consulted. with her
attorney and
then terminated the contract. This is an example of - Answer-Rescinding the contract unilaterally
What does the metes and bounds system use to develop a property's legal description? - Answer-
Compass headings and directions
In Texas, the Information About Brokerage Services form ______. - Answer-Is required by law
Who is responsible for appointing the members of the Texas Real Estate Commission? - Answer-The
governor of Texas
What is the starting point for any land surveyor who has been asked to perform a survey? - Answer-A
review of existing historical records
Which of the following trusts is created according to the terms of the will of a deceased person? -
Answer-Testamentary
What is the maximum payment amount for a claim from the Recovery Trust Account for a single
transaction? - Answer-$50,000
, The Education Standards Advisory Committee is comprised of ______ members. - Answer-12
The seller of property that may be subject to a private transfer fee must provide the prospective buyer
with which written notice? - Answer-Private Transfer Fee Obligation
Betty hired a contractor to replace her gutters. Within days, the gutters leaked and flooded her
basement. She complained to the contractor, who replaced the gutters again. The next time it rained,
the gutters leaked and flooded Betty's basement a second time. Frustrated, Betty decided to file a
lawsuit against the contractor in an attempt to recover the money she lost. This is an example of
______. - Answer-Suing for damages and breach of contract
"Separate property" is property most likely acquired ______. - Answer-Prior to marriage
What type of listing agreement provides the sellers with the opportunity to enter into listing contracts
with multiple agents and still reserve the right to sell the property themselves, owing no commission? -
Answer-Open listing
What amount of liability does a Texas licensee who acted in cooperation with another person(s) to
commit a third-degree felony have? - Answer-Joint and separate responsibility for all damages
According to the Department of Justice, an agreement between competitors to establish or adhere to
uniform price discounts is a type of which antitrust violation? - Answer-Price fixing
What's the permanent marker used primarily for marking datums when measuring elevation? - Answer-
Benchmark
_____ is a permanent reference points used for marking datums. - Answer-Benchmark
