Texas Principles 1 - Champions School of Real Estate |QUESTIONS AND ANSWERS | ALREADY PASSED | VERIFIED & UPDATED | 2024

Texas Principles 1 - Champions School of Real Estate |QUESTIONS AND ANSWERS | ALREADY PASSED | VERIFIED & UPDATED | 2024 1. How much is the largest fine for any single violation of the Fair Housing Act? $110,000 2. What is a point? 1% of the loan amount 3. If you believe you are a victim of discrimination under the Federal Fair Housing laws, how long do you have to file a complaint? 1 year 4. What is the sentence that is used to remember how many sq. ft. are in one acre? 4 nuns driving 35 in a 60 mph 5. How long does a consumer have to file a complaint with TREC against a licensee? 4 years 6. interest rate x loan amount = yearly interest 7. TREC Commission members serve ___ year ____________ terms. 6 year staggered 8. The TREC Commission consists of how many members? How many of them are brokers? How many of them are public? 9, 6, 3 9. The Texas Real Estate Broker-Lawyer Committee consists of how many members? How many of them are brokers? How many of them are lawyers? How many of them are public? 13, 6, 6, 1 10. What are the general Eligibility Requirements to be Licensed by TREC? 18 years old, a US citizen or lawfully admitted alien resident of the state 11. 1 acre= how many sq ft? 43,560 12. How do you calculate Appreciated Value? 13. 100% - commission rate x sales price: How do you calculate Seller's Net? 100% + appreciation % x original cost