Texas Real Estate State Exam #1 with all Correct & 100%
Verified Answers |Actual Complete Update |Already
Graded A+
What is the purpose of the Texas Real Estate Commission?
A. To protect the public interest in a real estate transaction.
B. To promote the real estate industry.
C. To protect the interests of real estate professionals.
D. To develop the professional abilities of real estate licensees. ✔Correct Answer-A. To protect
the public interest in a real estate transaction.
What is the penalty for practicing real estate without an active license in Texas?
A. A fine of $5,000 for the first violation and $6,000 for each subsequent violation.
B. Jail time for up to one year a fine of up to $4,000, plus the potential for administrative
penalties.
C. The individual is required to reimburse any compensation received for performing real estate
activities.
D. Jail time of up to five years and a fine for each incident of up to $10,000. ✔Correct Answer-
B. Jail time for up to one year a fine of up to $4,000, plus the potential for administrative
penalties.
Sales agent Dawn is designing her business cards. What information is she REQUIRED to include
on the card?
A. Her name and her brokerage's physical business address.
B. Her name and her brokerage's telephone number.
C. Her name and her broker's name, as registered with TREC.
D. Her name and her contact information, which may be her phone number, email address,
website address, or social media handle. ✔Correct Answer-C. Her name and her broker's
name, as registered with TREC.
When must the Information About Brokerage Services Notice (IABS Notice) be delivered?
A. At closing
B. At first substantive contact with a consumer
C. When a purchase contract is excecuted
D. When entering into a brokerage agreement with a consumer ✔Correct Answer-B. At first
substantive contact with a consumer
, What's true about the Consumer Protection Notice?
A. It's a notice that describes the occupations that TREC regulates, how to contact TREC, and the
consumer's right to make a complaint about a licensee.
B. It's an agency disclosure that educates consumers about the possible forms of brokerage
representation.
C. It describes the rules that telemarketers, including real estate licensees, must use, and a
consumer's right to make complaints to the FCC.
D. It's a disclosure that licensees must provide to consumers at their first substantive contact.
✔Correct Answer-A. It's a notice that describes the occupations that TREC regulates, how to
contact TREC, and the consumer's right to make a complaint about a licensee.
Who is responsible for designating an appointed licensee?
A. An intermediary
B. A principle to the transaction
C. An attorney
D. TREC ✔Correct Answer-A. An intermediary
Which of these is a minimum duty that a real estate agent must provide to a client?
A. Negotiate an offer to ensure the highest price paid for a seller and the lowest possible offer
accepted for a buyer.
B. Meet the client's expectations for finding a buyer or locating a property.
C. Provide quality services that are worthy of the compensation earned.
D. Put the interests of the client above all others, including the broker's own interests.
✔Correct Answer-D. Put the interests of the client above all others, including the broker's own
interests.
To whom does an associated licensee owe primary fiduciary duties?
A. The Texas Association of REALTORS®
B. The licensee's sponsoring broker.
C. The Texas Real Estate Commission and its commissioners
D. The client who is a principal in the transaction. ✔Correct Answer-D. The client who is a
principal in the transaction.
How is an associated licensee paid?
A. By the licensee's sponsoring broker.
B. By the listing broker in the transaction.
C. By the cooperating broker in the transaction.
D. By the licensee's client. ✔Correct Answer-A. By the licensee's sponsoring broker.
Verified Answers |Actual Complete Update |Already
Graded A+
What is the purpose of the Texas Real Estate Commission?
A. To protect the public interest in a real estate transaction.
B. To promote the real estate industry.
C. To protect the interests of real estate professionals.
D. To develop the professional abilities of real estate licensees. ✔Correct Answer-A. To protect
the public interest in a real estate transaction.
What is the penalty for practicing real estate without an active license in Texas?
A. A fine of $5,000 for the first violation and $6,000 for each subsequent violation.
B. Jail time for up to one year a fine of up to $4,000, plus the potential for administrative
penalties.
C. The individual is required to reimburse any compensation received for performing real estate
activities.
D. Jail time of up to five years and a fine for each incident of up to $10,000. ✔Correct Answer-
B. Jail time for up to one year a fine of up to $4,000, plus the potential for administrative
penalties.
Sales agent Dawn is designing her business cards. What information is she REQUIRED to include
on the card?
A. Her name and her brokerage's physical business address.
B. Her name and her brokerage's telephone number.
C. Her name and her broker's name, as registered with TREC.
D. Her name and her contact information, which may be her phone number, email address,
website address, or social media handle. ✔Correct Answer-C. Her name and her broker's
name, as registered with TREC.
When must the Information About Brokerage Services Notice (IABS Notice) be delivered?
A. At closing
B. At first substantive contact with a consumer
C. When a purchase contract is excecuted
D. When entering into a brokerage agreement with a consumer ✔Correct Answer-B. At first
substantive contact with a consumer
, What's true about the Consumer Protection Notice?
A. It's a notice that describes the occupations that TREC regulates, how to contact TREC, and the
consumer's right to make a complaint about a licensee.
B. It's an agency disclosure that educates consumers about the possible forms of brokerage
representation.
C. It describes the rules that telemarketers, including real estate licensees, must use, and a
consumer's right to make complaints to the FCC.
D. It's a disclosure that licensees must provide to consumers at their first substantive contact.
✔Correct Answer-A. It's a notice that describes the occupations that TREC regulates, how to
contact TREC, and the consumer's right to make a complaint about a licensee.
Who is responsible for designating an appointed licensee?
A. An intermediary
B. A principle to the transaction
C. An attorney
D. TREC ✔Correct Answer-A. An intermediary
Which of these is a minimum duty that a real estate agent must provide to a client?
A. Negotiate an offer to ensure the highest price paid for a seller and the lowest possible offer
accepted for a buyer.
B. Meet the client's expectations for finding a buyer or locating a property.
C. Provide quality services that are worthy of the compensation earned.
D. Put the interests of the client above all others, including the broker's own interests.
✔Correct Answer-D. Put the interests of the client above all others, including the broker's own
interests.
To whom does an associated licensee owe primary fiduciary duties?
A. The Texas Association of REALTORS®
B. The licensee's sponsoring broker.
C. The Texas Real Estate Commission and its commissioners
D. The client who is a principal in the transaction. ✔Correct Answer-D. The client who is a
principal in the transaction.
How is an associated licensee paid?
A. By the licensee's sponsoring broker.
B. By the listing broker in the transaction.
C. By the cooperating broker in the transaction.
D. By the licensee's client. ✔Correct Answer-A. By the licensee's sponsoring broker.
