TEXAS REAL ESTATE STATE EXAM PT
2 CORRECT 100%
which of the following statements about mold remediation is false? - ANSWERan
insurance company cannot make an underwriting decision based on previous mold
claims the property owner has a certificate of mold remediation
How much E&O insurance is required, when a designated broker has a less than
10% interest in the LLC? - ANSWER1 million
A designated broker has a 30% interest in a partnership. How much E&O insurance
is required? - ANSWERnone
With regard to TREC investigating the actions of license holders against whom a
complaint has been filed, which of the following would cause the complaint to receive
priority treatment? - ANSWERthe complaint involves personal or financial harm to
consumer
violation of the license act is a class a misdemeanor. The criminal penalty could be a
fine up to - ANSWER4000
Where must a link to the completed IABS form be found in an email? -
ANSWERabove the signature
If a license holder, under CE requirements, renews on time without including the
required education what will TREC do? - ANSWERConsider the license active for an
additional 60 days during which time the license holder must complete the required
education and pay the 200 amount for fees and penalties
Is the broker entitled to keep the commission earned on this sale? - ANSWERyes
How many hours of continuing education can carry over from one license period to
the next? - ANSWERNONE
In Texas a Homeowner's Association can regulate and ban: - ANSWERprivacy
fences
2 CORRECT 100%
which of the following statements about mold remediation is false? - ANSWERan
insurance company cannot make an underwriting decision based on previous mold
claims the property owner has a certificate of mold remediation
How much E&O insurance is required, when a designated broker has a less than
10% interest in the LLC? - ANSWER1 million
A designated broker has a 30% interest in a partnership. How much E&O insurance
is required? - ANSWERnone
With regard to TREC investigating the actions of license holders against whom a
complaint has been filed, which of the following would cause the complaint to receive
priority treatment? - ANSWERthe complaint involves personal or financial harm to
consumer
violation of the license act is a class a misdemeanor. The criminal penalty could be a
fine up to - ANSWER4000
Where must a link to the completed IABS form be found in an email? -
ANSWERabove the signature
If a license holder, under CE requirements, renews on time without including the
required education what will TREC do? - ANSWERConsider the license active for an
additional 60 days during which time the license holder must complete the required
education and pay the 200 amount for fees and penalties
Is the broker entitled to keep the commission earned on this sale? - ANSWERyes
How many hours of continuing education can carry over from one license period to
the next? - ANSWERNONE
In Texas a Homeowner's Association can regulate and ban: - ANSWERprivacy
fences
