Aceable Agent EXAM QUESTIONS
WITH CORRECT
SOLUTIONS|ALREADY GRADED
A+|UPDATED 2025/2026|100%
GUARANTEED PASS|<<BRAND NEW
VERSION>>
Agent - ANSWER ✓ a person who acts on behalf of someone else
Seller's Disclosure Notice - ANSWER ✓ a document filled out by the seller
concerning any defects in the improvements on the property
Subagent - ANSWER ✓ a license holder from one office who represents the seller
through cooperation with the listing broker of another company
Material Fact - ANSWER ✓ any fact that is significant or essential to the
transaction
Fiduciary Duties - ANSWER ✓ a responsibility to act in the best interest of your
client — the highest standard
Fraud - ANSWER ✓ a misstatement made intentionally to deceive
Civil Rights Act of 1866 - ANSWER ✓ the first law that began to promise equal
rights for all citizens regardless of race or color
Fair Housing Act - ANSWER ✓ a federal law that prohibits discrimination in
housing based upon race, color, religion, or national origin and was amended to
include sex, disability, and familial status; a.k.a. the Fair Housing Act of 1968
If a salesperson has no interest in opening their own brokerage, why might they
still want to get a broker's license? - ANSWER ✓ for marketing purposes
, How often must a real estate license be renewed? - ANSWER ✓ A real estate
license must be renewed every two years.
What is the name given to the duties owed by agents to their clients? - ANSWER
✓ The duties owed by agents to their clients are known as fiduciary duties.
OLD CAR - ANSWER ✓ Obedience (if legal)
Loyalty (100%) - ANSWER ✓
Disclosure (full) - ANSWER ✓
Confidentiality (forever) - ANSWER ✓
Accounting (forever) - ANSWER ✓
Reasonable care - ANSWER ✓
In an agency relationship, the agent owes the principal the fiduciary duties of
loyalty, obedience, accounting, confidentiality, reasonable care, and what else? -
ANSWER ✓ Disclosure
Obedience - ANSWER ✓ -is only required if legal
-the principal is the ultimate decision-maker - ANSWER ✓
Loyalty - ANSWER ✓ -the buyer's agent should get the lowest price possible,
even if it means less commission
-the principal's best interests come before the agent's interests - ANSWER ✓
Disclosure - ANSWER ✓ -if it will help the client, the agent should share it
-including sharing of material facts about a property - ANSWER ✓
Reasonable Care - ANSWER ✓ -standard is based on what most agents would do
,-assumes agent expertise will be used in handling client's concerns - ANSWER ✓
Which of the following is an example of misrepresentation? - ANSWER ✓ An
agent thinks there are hardwood floors beneath the carpet of a property and implies
to the buyer that there are, when in fact, there are not.
Fraud vs. Misrepresentation - ANSWER ✓ Fraud is intentional; misrepresentation
is not. Fraud generally includes both affirmative misrepresentations and
affirmative concealment, and the person making the misrepresentation is aware of
the true facts.
Does misrepresentation require malicious or deceptive intent? - ANSWER ✓ No,
the seller, broker, or agent may be liable for misrepresentation even without
malicious or deceptive intent.
Which one of the following actions is most likely to be a violation of the Texas
Deceptive Trade Practices-Consumer Protection Act? - ANSWER ✓ The
Deceptive Trade Practices Act prohibits the license holder from knowingly and/or
intentionally deceiving the consumer in the selling or leasing of any real property.
Providing a list of professionals to choose from does not violate the law.
Continue - ANSWER ✓
DTPA - ANSWER ✓ Texas Deceptive Trade Practices-Consumer Protection Act?
What is the BEST way to avoid giving misinformation (and consequently,
violating the Texas Deceptive Trade Practices-Consumer Protection Act)? -
ANSWER ✓ Cite a source for any information you give a client about a property
Which of the following is NOT true regarding a license holder's obligation to
disclose a property defect: - ANSWER ✓ -Only if the Buyer asks
-A license holder is required to disclose a property defect if the seller has
disclosed the defect at all. - ANSWER ✓
, Why should real estate agents refrain from giving legal advice to clients? -
ANSWER ✓ Agents aren't licensed to give legal advice and if they do, they could
be held liable
Special Agency - ANSWER ✓ Broker & Client
General Agency - ANSWER ✓ Broker & Sales Agent
Universal Agency - ANSWER ✓ Child & Parent or Executor of will
IABS - ANSWER ✓ Information About Brokerage Services
What is the definition of misrepresentation? - ANSWER ✓ Misrepresentation is
an unintentional mistake, written or spoken.
Using the general terms of agency law, which party is represented by another
party? - ANSWER ✓ Principal
Which parties need to be told if an agent is representing anyone? - ANSWER ✓ A
license holder must disclose orally or in writing to others of their representation of
a party to a real estate transaction at the first contact.
Was Tom right in discouraging his clients from taking the closing documents to an
attorney? - ANSWER ✓ No, you should never discourage clients from seeking the
advice from an attorney
Which statement is NOT true regarding death on a property? - ANSWER ✓
Agents are able to disclose deaths at their discretion
Was it a violation for Tom to agree to inquire about the previous owner's death? -
ANSWER ✓ Yes, Tom's inquiry was in violation of Fair Housing Laws
When asked to inquire about the previous owner's death, how should Tom have
responded? - ANSWER ✓ He should tell his clients he's legally not allowed to
inquire about the death
Which of the following is NOT one of the unethical or illegal activities performed
by Ulysses? - ANSWER ✓ Acting as a real estate agent without a license
WITH CORRECT
SOLUTIONS|ALREADY GRADED
A+|UPDATED 2025/2026|100%
GUARANTEED PASS|<<BRAND NEW
VERSION>>
Agent - ANSWER ✓ a person who acts on behalf of someone else
Seller's Disclosure Notice - ANSWER ✓ a document filled out by the seller
concerning any defects in the improvements on the property
Subagent - ANSWER ✓ a license holder from one office who represents the seller
through cooperation with the listing broker of another company
Material Fact - ANSWER ✓ any fact that is significant or essential to the
transaction
Fiduciary Duties - ANSWER ✓ a responsibility to act in the best interest of your
client — the highest standard
Fraud - ANSWER ✓ a misstatement made intentionally to deceive
Civil Rights Act of 1866 - ANSWER ✓ the first law that began to promise equal
rights for all citizens regardless of race or color
Fair Housing Act - ANSWER ✓ a federal law that prohibits discrimination in
housing based upon race, color, religion, or national origin and was amended to
include sex, disability, and familial status; a.k.a. the Fair Housing Act of 1968
If a salesperson has no interest in opening their own brokerage, why might they
still want to get a broker's license? - ANSWER ✓ for marketing purposes
, How often must a real estate license be renewed? - ANSWER ✓ A real estate
license must be renewed every two years.
What is the name given to the duties owed by agents to their clients? - ANSWER
✓ The duties owed by agents to their clients are known as fiduciary duties.
OLD CAR - ANSWER ✓ Obedience (if legal)
Loyalty (100%) - ANSWER ✓
Disclosure (full) - ANSWER ✓
Confidentiality (forever) - ANSWER ✓
Accounting (forever) - ANSWER ✓
Reasonable care - ANSWER ✓
In an agency relationship, the agent owes the principal the fiduciary duties of
loyalty, obedience, accounting, confidentiality, reasonable care, and what else? -
ANSWER ✓ Disclosure
Obedience - ANSWER ✓ -is only required if legal
-the principal is the ultimate decision-maker - ANSWER ✓
Loyalty - ANSWER ✓ -the buyer's agent should get the lowest price possible,
even if it means less commission
-the principal's best interests come before the agent's interests - ANSWER ✓
Disclosure - ANSWER ✓ -if it will help the client, the agent should share it
-including sharing of material facts about a property - ANSWER ✓
Reasonable Care - ANSWER ✓ -standard is based on what most agents would do
,-assumes agent expertise will be used in handling client's concerns - ANSWER ✓
Which of the following is an example of misrepresentation? - ANSWER ✓ An
agent thinks there are hardwood floors beneath the carpet of a property and implies
to the buyer that there are, when in fact, there are not.
Fraud vs. Misrepresentation - ANSWER ✓ Fraud is intentional; misrepresentation
is not. Fraud generally includes both affirmative misrepresentations and
affirmative concealment, and the person making the misrepresentation is aware of
the true facts.
Does misrepresentation require malicious or deceptive intent? - ANSWER ✓ No,
the seller, broker, or agent may be liable for misrepresentation even without
malicious or deceptive intent.
Which one of the following actions is most likely to be a violation of the Texas
Deceptive Trade Practices-Consumer Protection Act? - ANSWER ✓ The
Deceptive Trade Practices Act prohibits the license holder from knowingly and/or
intentionally deceiving the consumer in the selling or leasing of any real property.
Providing a list of professionals to choose from does not violate the law.
Continue - ANSWER ✓
DTPA - ANSWER ✓ Texas Deceptive Trade Practices-Consumer Protection Act?
What is the BEST way to avoid giving misinformation (and consequently,
violating the Texas Deceptive Trade Practices-Consumer Protection Act)? -
ANSWER ✓ Cite a source for any information you give a client about a property
Which of the following is NOT true regarding a license holder's obligation to
disclose a property defect: - ANSWER ✓ -Only if the Buyer asks
-A license holder is required to disclose a property defect if the seller has
disclosed the defect at all. - ANSWER ✓
, Why should real estate agents refrain from giving legal advice to clients? -
ANSWER ✓ Agents aren't licensed to give legal advice and if they do, they could
be held liable
Special Agency - ANSWER ✓ Broker & Client
General Agency - ANSWER ✓ Broker & Sales Agent
Universal Agency - ANSWER ✓ Child & Parent or Executor of will
IABS - ANSWER ✓ Information About Brokerage Services
What is the definition of misrepresentation? - ANSWER ✓ Misrepresentation is
an unintentional mistake, written or spoken.
Using the general terms of agency law, which party is represented by another
party? - ANSWER ✓ Principal
Which parties need to be told if an agent is representing anyone? - ANSWER ✓ A
license holder must disclose orally or in writing to others of their representation of
a party to a real estate transaction at the first contact.
Was Tom right in discouraging his clients from taking the closing documents to an
attorney? - ANSWER ✓ No, you should never discourage clients from seeking the
advice from an attorney
Which statement is NOT true regarding death on a property? - ANSWER ✓
Agents are able to disclose deaths at their discretion
Was it a violation for Tom to agree to inquire about the previous owner's death? -
ANSWER ✓ Yes, Tom's inquiry was in violation of Fair Housing Laws
When asked to inquire about the previous owner's death, how should Tom have
responded? - ANSWER ✓ He should tell his clients he's legally not allowed to
inquire about the death
Which of the following is NOT one of the unethical or illegal activities performed
by Ulysses? - ANSWER ✓ Acting as a real estate agent without a license
