1
TREBS EXAM 5 WITH CORRECT ACTUAL QUESTIONS
AND CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Use of the TREC promulgated One to Four Family Residential Contract (Resale):
A. Is allowed on the sale of a residential condominium
B. Can be used for a vacant residential lot
C. Covers single family, duplex, triplex, and fourplex transactions
D. All of the above
Rationale: The correct answer is C. The TREC One to Four Family Residential
Contract (Resale) covers single family, duplex, triplex, and fourplex transactions. -
...(ANSWERS)....C. Covers single family, duplex, triplex, and fourplex transactions
Broker's fees are:
A. Included in the One to Four Family Residential Contract (Resale) between the
Buyer and the Seller
B. Determined by writing in the Information About Brokerage Services
C. Determined by writing in the Listing Agreement
D. Both B and C
Rationale: The correct answer is C. Broker fees are agreed in the listing agreement
between the Seller and the Broker. The Broker has the ability to share those fees
with an agent from an outside company who works with a buyer. -
...(ANSWERS)....
Fraud is:
, 2
A. A crime
B. A civil law violation
C. Both A and B
D. Only B
Rationale: The correct answer is C. Fraud can be prosecuted as a crime. Fraud
charges also can go through the courts as civil law violations. - ...(ANSWERS)....
Federal Fair Housing Laws forbid discriminatory practices by parties including:
A. Owners of properties
B. Lenders
C. Real estate brokers
D. All of the above
Rationale: The correct answer is D. Discriminatory practices are NOT allowed in
any transaction. - ...(ANSWERS)....
In a real estate transaction, the legal description is NOT:
A. Lot and block
B. Metes and bounds
C. A street address
D. A description of the property from a surveyor's field notes
Rationale: The correct answer is C. The legal descriptions in Texas are: Lot and
block, and metes and bounds (sometimes also called surveyor's field notes). A
street address is NOT a legal description. - ...(ANSWERS)....
, 3
Earnest money:
A. Constitutes the consideration
B. Is used to make the offer more enticing to the seller
C. Is required in the contract
D. Always equals 1% of the sales price
Rationale: The correct answer is B. Earnest money is a gesture of good faith and is
used to make the offer more enticing to the seller. It can be any amount that the
Buyer wishes to offer, and the Seller is willing to accept. - ...(ANSWERS)....
Chapter 531 Canons of Professional Ethics and Conduct includes::
A. Fidelity
B. Integrity
C. Competency
D. All of the above
Rationale: The correct answer is D. Fidelity, Integrity and Competency are all a
part of Canons of Professional Ethics and Conduct. - ...(ANSWERS)....
In the Buyer Agreement, Intermediary is in Paragraph 8. The paragraph is the
same in the Buyer Agreement and in the:
A. Listing agreement
B. Sales contract
C. Inspecting report
TREBS EXAM 5 WITH CORRECT ACTUAL QUESTIONS
AND CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Use of the TREC promulgated One to Four Family Residential Contract (Resale):
A. Is allowed on the sale of a residential condominium
B. Can be used for a vacant residential lot
C. Covers single family, duplex, triplex, and fourplex transactions
D. All of the above
Rationale: The correct answer is C. The TREC One to Four Family Residential
Contract (Resale) covers single family, duplex, triplex, and fourplex transactions. -
...(ANSWERS)....C. Covers single family, duplex, triplex, and fourplex transactions
Broker's fees are:
A. Included in the One to Four Family Residential Contract (Resale) between the
Buyer and the Seller
B. Determined by writing in the Information About Brokerage Services
C. Determined by writing in the Listing Agreement
D. Both B and C
Rationale: The correct answer is C. Broker fees are agreed in the listing agreement
between the Seller and the Broker. The Broker has the ability to share those fees
with an agent from an outside company who works with a buyer. -
...(ANSWERS)....
Fraud is:
, 2
A. A crime
B. A civil law violation
C. Both A and B
D. Only B
Rationale: The correct answer is C. Fraud can be prosecuted as a crime. Fraud
charges also can go through the courts as civil law violations. - ...(ANSWERS)....
Federal Fair Housing Laws forbid discriminatory practices by parties including:
A. Owners of properties
B. Lenders
C. Real estate brokers
D. All of the above
Rationale: The correct answer is D. Discriminatory practices are NOT allowed in
any transaction. - ...(ANSWERS)....
In a real estate transaction, the legal description is NOT:
A. Lot and block
B. Metes and bounds
C. A street address
D. A description of the property from a surveyor's field notes
Rationale: The correct answer is C. The legal descriptions in Texas are: Lot and
block, and metes and bounds (sometimes also called surveyor's field notes). A
street address is NOT a legal description. - ...(ANSWERS)....
, 3
Earnest money:
A. Constitutes the consideration
B. Is used to make the offer more enticing to the seller
C. Is required in the contract
D. Always equals 1% of the sales price
Rationale: The correct answer is B. Earnest money is a gesture of good faith and is
used to make the offer more enticing to the seller. It can be any amount that the
Buyer wishes to offer, and the Seller is willing to accept. - ...(ANSWERS)....
Chapter 531 Canons of Professional Ethics and Conduct includes::
A. Fidelity
B. Integrity
C. Competency
D. All of the above
Rationale: The correct answer is D. Fidelity, Integrity and Competency are all a
part of Canons of Professional Ethics and Conduct. - ...(ANSWERS)....
In the Buyer Agreement, Intermediary is in Paragraph 8. The paragraph is the
same in the Buyer Agreement and in the:
A. Listing agreement
B. Sales contract
C. Inspecting report
