TREBS Exam 1 Questions with
Completed and Verified Solutions18
Agency that is created by actions and custom is:
A. Expressed agency
B. Real agency
C. Broker's agency
D. Implied agency - ANSWERS-D. Implied agency
Errors and Omissions Insurance (E and O) is a form of:
A. Life insurance
B. Hazard insurance
C. Malpractice insurance
D. Homeowners insurance - ANSWERS-C. Malpractice insurance
The Equal Credit Opportunity Act applies to:
A. A person that makes loans on a regular basis
B. A lending institution that makes loans on a regular basis
C. Seller financing
D. Both A and B - ANSWERS-D. Both A and B
Communities for the elderly are allowed to require that:
,A. Everyone living in the community is at least 62 years of age.
B. 80 percent of the occupied units has an occupant who is at least 55 years of age or older.
C. Both A and B
D. Neither A or B - ANSWERS-C. Both A and B
The Education Standards Advisory Committee is made up of:
A. 12 members
B. 13 members
C. 9 members
D. 14 members - ANSWERS-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. - ANSWERS-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
, D. A house and 2 acres of land - ANSWERS-B. Personal property
Annual plants are called fructus industriales or emblements and are:
A. Real estate
B. Personal property
C. Taxed
D. Leases - ANSWERS-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 - ANSWERS-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 - ANSWERS-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
Completed and Verified Solutions18
Agency that is created by actions and custom is:
A. Expressed agency
B. Real agency
C. Broker's agency
D. Implied agency - ANSWERS-D. Implied agency
Errors and Omissions Insurance (E and O) is a form of:
A. Life insurance
B. Hazard insurance
C. Malpractice insurance
D. Homeowners insurance - ANSWERS-C. Malpractice insurance
The Equal Credit Opportunity Act applies to:
A. A person that makes loans on a regular basis
B. A lending institution that makes loans on a regular basis
C. Seller financing
D. Both A and B - ANSWERS-D. Both A and B
Communities for the elderly are allowed to require that:
,A. Everyone living in the community is at least 62 years of age.
B. 80 percent of the occupied units has an occupant who is at least 55 years of age or older.
C. Both A and B
D. Neither A or B - ANSWERS-C. Both A and B
The Education Standards Advisory Committee is made up of:
A. 12 members
B. 13 members
C. 9 members
D. 14 members - ANSWERS-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. - ANSWERS-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
, D. A house and 2 acres of land - ANSWERS-B. Personal property
Annual plants are called fructus industriales or emblements and are:
A. Real estate
B. Personal property
C. Taxed
D. Leases - ANSWERS-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 - ANSWERS-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 - ANSWERS-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
