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Principles of Real Estate Practice Exam 1 questions with correct answers

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2022/2023 Written for academic year
Institution Principles Of Real Estate
Course Principles of Real Estate
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Which of the following does not need a license? CORRECT ANSWER a person who offers to sell her own property The Texas Real Estate Commission consists of ______. The commission members serve for _______ terms CORRECT ANSWER 9 members --- 6 year When a broker discharges a salesperson, he should: CORRECT ANSWER return the license to the Texas Real Estate Commission A real estate salesperson may elect to remain inactive for: CORRECT ANSWER indefinitely TRELA states: An applicant must satisfy the examination requirements not later than one year after the date the license application is filed. CORRECT ANSWER True The Texas Real Estate Recovery Fund is funded CORRECT ANSWER by real estate license fees The Texas Real Estate Commission may suspend or revoke a license or take other disciplinary action authorized by Chapter 1101 if the license holder, while acting as a broker or salesperson: CORRECT ANSWER all of the above The term "Realtor" applies to any CORRECT ANSWER member of the National Association of REALTORS®

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