ANSWERS
The Education Standards Advisory Committee is made up of:
A. 12 members
B. 13 members
C. 9 members
D. 14 members - ANS A. 12 members
The Commission issues a license to a salesperson after:
A. The person has at least 6 years sales experience.
B. The person is 25 years old.
C. The person has finished 3 classes.
D. The person has met all the requirements for a license. - ANS D. The person has met all the
requirements for a license.
A deed is used to transfer ownership of real estate. A bill of sale would be used to transfer
ownership of:
A. A mortgage
B. Personal property
C. A deed of trust
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, D. A house and 2 acres of land - ANS B. Personal property
Annual plants are called fructus industriales or emblements and are:
A. Real estate
B. Personal property
C. Taxed
D. Leases - ANS B. Personal property
When someone owns property to the exclusion of all other persons, this person is said to hold
the property in:
A. Personality
B. Severalty
C. Common
D. Secret - ANS B. Severalty
A person who owns a property in severalty:
A. Is a tenant in common with other people
B. Is the sole owner of the property
C. Holds the property as community property
D. Has unity of title - ANS B. Is the sole owner of the property
In Texas, an urban homestead is limited to 10 acres and the acres must:
A. Be contiguous
B. Be separated by 1 block
C. A married couple may have a larger urban homestead than a single person.
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, D. Be all on the same street - ANS A. Be contiguous
Price-fixing, boycotting, and allocation of customers or markets are violations of:
A. Fair housing laws
B. Real estate codes
C. Common law
D. Antitrust acts - ANS D. Antitrust acts
An agency relationship is always created at the:
A. Broker level
B. Customer level
C. Salesperson level
D. None of the above - ANS A. Broker level
The broker has a fiduciary relationship with his client. The broker owes his client:
A. Obedience, loyalty, and accounting
B. Disclosure and confidentially
C. Reasonable care and diligence
D. All of the above - ANS D. All of the above
When the broker represents both the seller and buyer in the same transaction, the broker is
acting as:
A. Buyer's agent only
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