ACEABLE AGENT EXAM Q&A 2026 STUDY
GUIDE FULL SOLUTION GRADED A+
◉ 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
GUIDE FULL SOLUTION GRADED A+
◉ 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
