TEXAS REAL ESTATE PRINCIPLES 1- UNIT 1 EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS LATEST TOP SCORE

TEXAS REAL ESTATE PRINCIPLES 1- UNIT 1 EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS LATEST TOP SCORE Trec Commision Membership - CORRECT ANSW-9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. Texas Real Estate Borker Lawyer Committee - CORRECT ANSW-13 Members (6 brokers, 6 lawyers, 1 public) General Eligibility Requirements to be Licensed by TREC - CORRECT ANSW-18 years old a US citizen or lawfully admitted alien resident of the state A certificate is required seperate of the license when - CORRECT ANSW-buying, selling or leasing an easement pertaining to telecommunicaton, utility, railroad or pipeline services. Payments into Trust Account - CORRECT ANSW-ensures the availibility of a sufficient amount to pay on anticipated claims on the trust account A commission may suspend or revoke a license for - CORRECT ANSW-acting negligently or incompetently, comingling money and soliciting or selling offers for the sale of real estate by means of a lottery An appeal can be made on a decision by the commission - CORRECT ANSW-it must be taken to the district court in the county where the administrative hearing was held. When dealing with a client it is mandatory to give them - CORRECT ANSW-A copy of the "Information about brokerage services" form The three Canons for professional ethics and conduct for Real Estate Licensees - CORRECT ANSW-Fidelity, Integrity, Competency Under what circumstances can a person be called a "Realtor?" - CORRECT ANSW-That agent has to join the "NAR" National Association of Realtors to be called a "Realtor" What was the Fair Housing Laws or Civil Rights Act of 1866 - CORRECT ANSW-FEDERAL LAW that where the only protected class was Race. No one can discriminate because of RACE. Civil Rights Act of 1968 - CORRECT ANSW-Amended the Civil Rights Act of 1866 to include race, color, national origin, religion, Civil Rights Act of 1974 - CORRECT ANSW-Amended to include Sex (Male or Female) Civil Rights Act of 1988 - CORRECT ANSW-Amended to include Handicap and Familial status Define Handicapped - CORRECT ANSW-having a physical or mental disability (including hearing, mobility, visual impairment, chronic mental illness and AIDS) that substantially limits one or more major life activities.