Texas exam.
Which of the following is a qualification for obtaining a prescriptive easement in Texas? - Answer-
Continuous, open, and notorious use of land for a minimum period of 10 years
Adverse possession - Answer-To acquire land by adverse possession, an individual must use the land
without the owner's permission for a period of three to twenty-five years, as applicable to the case.
Deeds of conveyance should be recorded within what period of time after closing? - Answer-Within a
reasonable time
How much notice must a landlord give a delinquent tenant, in writing, before filing an action to evict? -
Answer-3 days
Which of the following is true of income earned by separate property in Texas? - Answer-All earnings
from community property and separate property are presumed to be community property.
In Texas, couples can legally partition property and arrange for certain income to be separate, but given
that Texas is a community property state, income from community property and separate property is
generally (in the absence of legal action) presumed by Texas law to be community property.
By what date must the current year's real estate taxes be paid in order to avoid a penalty and interest
on the taxes? - Answer-By January 31 of the next year
Prior to issuance of an inspector's license, a newly approved inspector must remit what amount to the
Real Estate Inspection Recovery Fund? - Answer-$10
,A fee of $10 is collected by the commission prior to issuing an inspector's license; in the case that the
Real Estate Inspection Recovery Fund balance falls below $300,000 on Dec. 31 of any year, each licensee
may be charged a share of not more than $75 to restore the minimum balance of the fund.
The Texas Real Estate Commission retains which of the following powers? - Answer-The power to
probate, suspend, or revoke a license or reprimand or place on probation a licensee for a violation of the
Act or a rule of the commission
In judging whether previous felony or misdemeanor offenses committed by a candidate for licensure
would render the candidate incapable of acting on behalf of others with honesty, trustworthiness, and
integrity, the commission may take into account all of the following pieces of evidence EXCEPT which
one? - Answer-A comprehensive independent audit of the candidate's financial status to ensure
suitability as a fiduciary
a licensee found to be in violation of the Act, has been ordered to pay an administrative penalty of
$1,000. Tammy has 30 days to: - Answer-Pay the penalty, stay the penalty, or contest the decision
Not later than the 30th day after the date the commission's order becomes final, Tammy has to either
pay the administrative penalty in full or stay the penalty by paying the amount to the administrator to
be placed in escrow or by paying the amount in supersedeas bonds approved by the administrator. If
Tammy is financially unable to pay the penalty, she can file an affidavit stating that she is financially
unable to either pay the penalty or to pay the amount in supersedeas bonds. Alternatively, Tammy
could file a petition for judicial review with a district court contesting either the violation, the penalty, or
both.
Which of the following is NOT true of an easement along the Gulf Intracoastal Waterway? - Answer-If no
clearly marked natural vegetation line exists, there is no easement
, The public has acquired a right of use or easement to or over the area of any public beach; the easement
is generally marked by a boundary of natural vegetation. When no clearly marked natural vegetation
line is visible, the landward boundary of the easement is as provided by Sections 61.016 and 61.017 of
the Natural Resources Code (nearest clearly marked line, line of constant elevation, or line of average
elevation on each side of unmarked area -- no further inland than 200 feet from seaward line of mean
low tide). Structures built seaward of the vegetation line or that become seaward through the natural
processes of shoreline erosion may be subject to a lawsuit by the State of Texas to remove the
structures.
Estimating the value of a house by taking the reproduction or replacement cost of the building, minus
depreciation, plus the value of land would be classified as what type of approach to valuation? - Answer-
The cost approach
A cost approach to estimating value takes into account the current construction costs for reproduction
or replacement, less depreciation, plus land value. Reproduction is defined as creating a replica whereas
replacement is defined as producing improvements of equal utility. The cost approach is the only
approach that can be applied to all types of construction, and it can be highly useful in markets with a
dearth of comparables.
Mortgage "discount" points only apply if which of the following conditions are met? - Answer-
Which of the following is created when possession and title do not occur at the same time? - Answer-
Interim Occupancy Agreement
A contract which, according to the Statute of Frauds, must be in writing in order to maintain a court
action for enforcement is: - Answer-Any agreement which is not to be performed within one year.
Which of the following is a qualification for obtaining a prescriptive easement in Texas? - Answer-
Continuous, open, and notorious use of land for a minimum period of 10 years
Adverse possession - Answer-To acquire land by adverse possession, an individual must use the land
without the owner's permission for a period of three to twenty-five years, as applicable to the case.
Deeds of conveyance should be recorded within what period of time after closing? - Answer-Within a
reasonable time
How much notice must a landlord give a delinquent tenant, in writing, before filing an action to evict? -
Answer-3 days
Which of the following is true of income earned by separate property in Texas? - Answer-All earnings
from community property and separate property are presumed to be community property.
In Texas, couples can legally partition property and arrange for certain income to be separate, but given
that Texas is a community property state, income from community property and separate property is
generally (in the absence of legal action) presumed by Texas law to be community property.
By what date must the current year's real estate taxes be paid in order to avoid a penalty and interest
on the taxes? - Answer-By January 31 of the next year
Prior to issuance of an inspector's license, a newly approved inspector must remit what amount to the
Real Estate Inspection Recovery Fund? - Answer-$10
,A fee of $10 is collected by the commission prior to issuing an inspector's license; in the case that the
Real Estate Inspection Recovery Fund balance falls below $300,000 on Dec. 31 of any year, each licensee
may be charged a share of not more than $75 to restore the minimum balance of the fund.
The Texas Real Estate Commission retains which of the following powers? - Answer-The power to
probate, suspend, or revoke a license or reprimand or place on probation a licensee for a violation of the
Act or a rule of the commission
In judging whether previous felony or misdemeanor offenses committed by a candidate for licensure
would render the candidate incapable of acting on behalf of others with honesty, trustworthiness, and
integrity, the commission may take into account all of the following pieces of evidence EXCEPT which
one? - Answer-A comprehensive independent audit of the candidate's financial status to ensure
suitability as a fiduciary
a licensee found to be in violation of the Act, has been ordered to pay an administrative penalty of
$1,000. Tammy has 30 days to: - Answer-Pay the penalty, stay the penalty, or contest the decision
Not later than the 30th day after the date the commission's order becomes final, Tammy has to either
pay the administrative penalty in full or stay the penalty by paying the amount to the administrator to
be placed in escrow or by paying the amount in supersedeas bonds approved by the administrator. If
Tammy is financially unable to pay the penalty, she can file an affidavit stating that she is financially
unable to either pay the penalty or to pay the amount in supersedeas bonds. Alternatively, Tammy
could file a petition for judicial review with a district court contesting either the violation, the penalty, or
both.
Which of the following is NOT true of an easement along the Gulf Intracoastal Waterway? - Answer-If no
clearly marked natural vegetation line exists, there is no easement
, The public has acquired a right of use or easement to or over the area of any public beach; the easement
is generally marked by a boundary of natural vegetation. When no clearly marked natural vegetation
line is visible, the landward boundary of the easement is as provided by Sections 61.016 and 61.017 of
the Natural Resources Code (nearest clearly marked line, line of constant elevation, or line of average
elevation on each side of unmarked area -- no further inland than 200 feet from seaward line of mean
low tide). Structures built seaward of the vegetation line or that become seaward through the natural
processes of shoreline erosion may be subject to a lawsuit by the State of Texas to remove the
structures.
Estimating the value of a house by taking the reproduction or replacement cost of the building, minus
depreciation, plus the value of land would be classified as what type of approach to valuation? - Answer-
The cost approach
A cost approach to estimating value takes into account the current construction costs for reproduction
or replacement, less depreciation, plus land value. Reproduction is defined as creating a replica whereas
replacement is defined as producing improvements of equal utility. The cost approach is the only
approach that can be applied to all types of construction, and it can be highly useful in markets with a
dearth of comparables.
Mortgage "discount" points only apply if which of the following conditions are met? - Answer-
Which of the following is created when possession and title do not occur at the same time? - Answer-
Interim Occupancy Agreement
A contract which, according to the Statute of Frauds, must be in writing in order to maintain a court
action for enforcement is: - Answer-Any agreement which is not to be performed within one year.
