Principles of Real Estate 1 : Questions & Answers: Updated A+ Score Guide

A sales agent or broker associate may perform duties as a real estate licensee under what circumstance? (Ans- While associated with and supervised by a broker. What is the name of the part of the beach that is privately owned? (Ans- Dry beach. Real estate law covers general property law, real estate license law, the law of contracts, landlord/tenant law, consumer protection, and: (Ans- The law of agency Which entity is charged with administering the laws of TRELA? (Ans- The Texas Real Estate Commission What is the most common homeowners policy? (Ans- The HO-B Policy Which of the following is a right included with real property? (Ans- Exclusion Which keyword can be used to describe real property? (Ans- Built-in. Built-in would describe real property that is permanently affixed to the property. Once signed, the listing agreement is a legally binding contract between: (Ans- The listing broker and the seller. What is considered a passing grade for the state licensing exam for a real estate professional who is seeking a brokers license? (Ans- A 75% or greater. Land, plus all things permanently attached to it naturally or artificially is: (Ans- Real estate The exemption to the Fair Housing Act that would normally apply that is moot when a real estate agent represents : (Ans- Owner occupied buildings with no more than four units. Sally Mae is a real estate licensee who would like to become a realtor, what must she do? (Ans- Become a member of the NAR What agency enforces fair housing laws? (Ans- FHEO. The Fair Housing and Equal Opportunity administers and enforces fair housing laws. Which type of anti-trust violation involves two or more businesses conspiring against another? (Ans- Group boycotting This type of housing is not considered real property: (Ans- Cooperative When a fair housing complaint is received, how long does TWCCRD have to begin investigating and attempt to resolve the issue? (Ans- 100 days. Once the complaint is received the TWCCRD has 100 days. What does it mean when the buyer signs and dates the sellers disclosure notice? (Ans- The buyer is acknowledging receipt of the disclosure. When a business is organized as a partnership, (Ans- General partners are jointly and severally responsible for all business debts