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Texas Real Estate Principles 1 Exam Questions With Revised Answers

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Texas Real Estate Principles 1 Exam Questions With Revised Answers Trec Commision Membership - answer9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. Texas Real Estate Borker Lawyer Committee - answer13 Members (6 brokers, 6 lawyers, 1 public) General Eligibility Requirements to be Licensed by TREC - answer18 years old a US citizen or lawfully admitted alien resident of the state A certificate is required seperate of the license when - answerbuying, selling or leasing an easement pertaining to telecommunicaton, utility, railroad or pipeline services. Payments into Trust Account - answerensures the availibility of a sufficient amount to pay on anticipated claims on the trust account A commission may suspend or revoke a license for - answeracting negligently or incompetently, comingling money and soliciting or selling offers for the sale of real estate by means of a lottery An appeal can be made on a decision by the commission - answerit must be taken to the district court in the county where the administrative hearing was held. When dealing with a client it is mandatory to give them - answerA copy of the "Information about brokerage services" form The three Canons for professional ethics and conduct for Real Estate Licensees - answerFidelity, Integrity, Competency Under what circumstances can a person be called a "Realtor?" - answerThat agent has to join the "NAR" National Association of Realtors to be called a "Realtor" ©THEBRIGHTSTARS 2024 What was the Fair Housing Laws or Civil Rights Act of 1866 - answerFEDERAL LAW that where the only protected class was Race. No one can discriminate because of RACE. Civil Rights Act of 1968 - answerAmended the Civil Rights Act of 1866 to include race, color, national origin, religion, Civil Rights Act of 1974 - answerAmended to include Sex (Male or Female) Civil Rights Act of 1988 - answerAmended to include Handicap and Familial status Define Handicapped - answerhaving a physical or mental disability (including hearing, mobility, visual impairment, chronic mental illness and AIDS) that substantially limits one or more major life activities. Steering - answerIlligal practice of directing home seekers to a particular neighborhood based on fair housing protected classes. An agent cannot steer even if asked to by their client. If a seller asks agent to discriminate - answeragent must refuse to take the listing ADA Americans with Disabilities Act - answerenacted in 1992 deals with commercial property only Personal Property - answerThings not attached to the land Chattel - answeralso known as Personal Property How is Personal Property sold - answerBill of Sale Classification of plants (Annual or fructus industrials or emblements) - answerPersonal Property Appurtenances - answerright or privilidge to land that goes with the land when ownership changes such as parking lot spaces, easements, right or ways Fixture - answerwas personal property but then became real estate because it has been attached to the land Tests of a fixture - answermethod of attachment (annexation) Fitness or adaptation to property Intention of the parties Trade fixture - answerattached to the p

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Institución
Texas Real estate
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Texas Real estate

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Subido en
8 de septiembre de 2024
Número de páginas
9
Escrito en
2024/2025
Tipo
Examen
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©THEBRIGHTSTARS 2024



Texas Real Estate Principles 1 Exam
Questions With Revised Answers


Trec Commision Membership - answer✔✔9 Members (6 brokers, 3 public) appointed by
governor. They serve 6 year staggered term.

Texas Real Estate Borker Lawyer Committee - answer✔✔13 Members (6 brokers, 6 lawyers, 1
public)

General Eligibility Requirements to be Licensed by TREC - answer✔✔18 years old
a US citizen or lawfully admitted alien
resident of the state

A certificate is required seperate of the license when - answer✔✔buying, selling or leasing an
easement pertaining to telecommunicaton, utility, railroad or pipeline services.

Payments into Trust Account - answer✔✔ensures the availibility of a sufficient amount to pay
on anticipated claims on the trust account

A commission may suspend or revoke a license for - answer✔✔acting negligently or
incompetently, comingling money and soliciting or selling offers for the sale of real estate by
means of a lottery

An appeal can be made on a decision by the commission - answer✔✔it must be taken to the
district court in the county where the administrative hearing was held.

When dealing with a client it is mandatory to give them - answer✔✔A copy of the "Information
about brokerage services" form
The three Canons for professional ethics and conduct for Real Estate Licensees -
answer✔✔Fidelity, Integrity, Competency

Under what circumstances can a person be called a "Realtor?" - answer✔✔That agent has to join
the "NAR" National Association of Realtors to be called a "Realtor"

, ©THEBRIGHTSTARS 2024


What was the Fair Housing Laws or Civil Rights Act of 1866 - answer✔✔FEDERAL LAW that
where the only protected class was Race. No one can discriminate because of RACE.

Civil Rights Act of 1968 - answer✔✔Amended the Civil Rights Act of 1866 to include race,
color, national origin, religion,

Civil Rights Act of 1974 - answer✔✔Amended to include Sex (Male or Female)

Civil Rights Act of 1988 - answer✔✔Amended to include Handicap and Familial status

Define Handicapped - answer✔✔having a physical or mental disability (including hearing,
mobility, visual impairment, chronic mental illness and AIDS) that substantially limits one or
more major life activities.

Steering - answer✔✔Illigal practice of directing home seekers to a particular neighborhood
based on fair housing protected classes. An agent cannot steer even if asked to by their client.

If a seller asks agent to discriminate - answer✔✔agent must refuse to take the listing

ADA Americans with Disabilities Act - answer✔✔enacted in 1992 deals with commercial
property only

Personal Property - answer✔✔Things not attached to the land

Chattel - answer✔✔also known as Personal Property

How is Personal Property sold - answer✔✔Bill of Sale

Classification of plants (Annual or fructus industrials or emblements) - answer✔✔Personal
Property

Appurtenances - answer✔✔right or privilidge to land that goes with the land when ownership
changes such as parking lot spaces, easements, right or ways

Fixture - answer✔✔was personal property but then became real estate because it has been
attached to the land

Tests of a fixture - answer✔✔method of attachment (annexation)
Fitness or adaptation to property
Intention of the parties

Trade fixture - answer✔✔attached to the property under a commercial lease

Riparian Rights - answer✔✔rights to anothers land who borders a stream or river
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