AYPO Real Estate Principles of Real Estate I and II Exams | Complete Questions and Correct Answers | Graded A+ | Verified Answers | Just Released

AYPO Real Estate Principles of Real Estate I
and II Exams | Complete Questions and
Correct Answers | Graded A+ | Verified
Answers | Just Released

AYPO Real Estate Principles of Real Estate I Exam
The Texas Real Estate Commission consists of members appointed by the
governor with the advice and consent of the: senate. What is their composition? -
--------CORRECT ANSWER-----------------Six members who have been engaged in the
brokerage business as licensed brokers as their major occupation for the five
years preceding appointment; and three members who represent the public




Who determines the salaries of the executive director, officers, and employees of
the commission? ---------CORRECT ANSWER-----------------The commission.




A subpoena may be issued throughout the state and may be served by: ---------
CORRECT ANSWER-----------------any person designated by the commission.




The commission shall assign priorities and investigate complaints using a risk-
based approach based on any of these except: ---------CORRECT ANSWER-------------
----Length of time a licensee has been in practice

,The Texas Real Estate Broker-Lawyer Committee consists of 13 members
appointed as follows: ---------CORRECT ANSWER-----------------six members
appointed by the commission; six members of the State Bar of Texas appointed by
the president of the state bar; and one public member appointed by the governor




An educational institution shall maintain a corporate surety bond or other
security acceptable to the commission that is in the amount of: ---------CORRECT
ANSWER-----------------$20,000




When the relationship of a sales agent with the sales agent's sponsoring broker
terminates, the terminating party shall immediately notify: ---------CORRECT
ANSWER-----------------in writing both the other party and the commission.




The commission shall waive the examination requirement for an applicant for a
broker or sales agent license if: ---------CORRECT ANSWER-----------------Both of
these are required




The commission by rule may: ---------CORRECT ANSWER-----------------prescribe the
title, content, and duration of continuing education courses that a license holder
must attend to renew a license

,A person may not sell, buy, lease, or transfer an easement or right-of-way for
another, for compensation or with the expectation of receiving compensation, for
use in connection with telecommunication, utility, railroad, or pipeline service
unless the person: ---------CORRECT ANSWER-----------------1. Holds a license issued
under this chapter
2. Holds a certificate of registration issued under this subchapter




When must a broker report a change of address to the commission? ---------
CORRECT ANSWER-----------------Not later than the 10th day after the date a broker
moves from the address designated on the broker's license




The commission shall maintain a real estate recovery trust account to reimburse
aggrieved persons who suffer actual damages caused by an act described by
Section 1101.602 committed by: ---------CORRECT ANSWER-----------------1. A
certificate holder.
2. a license holder.
3. a person who does not hold a license or certificate and who is an employee or
agent of a license or certificate holder.




The executive director shall give notice of the commission's order to the person.
The notice must: ---------CORRECT ANSWER-----------------1. inform the person of
the person's right to judicial review of the order
2. state the amount of any penalty imposed
3. include the findings of fact and conclusions of law, separately stated

, A person who receives a commission or other consideration as a result of acting
as a broker or sales agent without holding a license or certificate of registration
under this chapter is liable to an aggrieved person for a penalty of not less than
the amount of money received or more than three times the amount of money
received. ---------CORRECT ANSWER-----------------TRUE




A license holder is not liable for a misrepresentation or a concealment of a
material fact made by a party to a real estate transaction unless the license
holder: ---------CORRECT ANSWER-----------------knew of the misrepresentation or
concealment and failed to disclose the license holder's knowledge of the
misrepresentation or concealment.




Metes comes from the word for... ---------CORRECT ANSWER-----------------
measuring.




What is the term for a six-mile-square area of land containing 36 sections which is
numbered according to its position either north or south of the baseline? ---------
CORRECT ANSWER-----------------Town




Which of the following is a general term for properties involving an approved
survey map and plans that describe each lot or unit and that is recorded with the
county? ---------CORRECT ANSWER-----------------Platted