Texas Principles 1 Multiple Choice Prep
________________ of the Commission members are brokers.
A. Two
B. Three
C. Six
D. Seven - ✔✔C
_________________ of the Commission members represent the public.
A. Two
B. Three
C. Six
D. Nine - ✔✔B
___________________________ is a form of ownership between married couples that is based upon
Spanish law.
A. partition
B. joint tenancy
C. community property
D. estate in severalty
E. tenancy in common - ✔✔C
___________________________ is the division of property owned by two or more individuals.
A. partition
B. joint tenancy
,C. community property
D. estate in severalty
E. tenancy in common - ✔✔A
___________________________ is the most common form of ownership between two or more
individuals who are not married.
A. partition
B. joint tenancy
C. community property
D. estate in severalty
E. tenancy in common - ✔✔E
A broker can only represent a seller or buyer, but not both in the same transaction.
A. True
B. False - ✔✔B
A broker is a person who, for compensation:
A. Sells, exchanges or leases real estate property
B. Lists or attempts to list real estate for sale, lease or exchange
C. Controls the acceptance or deposit of rent from a resident from a single-family real
property unit
D. All of the above - ✔✔D
A broker must display, in each place of business that a broker maintains, the:
A. Notice of Lead Based Paint Hazards
,B. Consumer Information Form 1-1
C. Information About Brokerage Services
D. Notice of Intermediary - ✔✔B
A broker who maintains more than one place of business in the State of Texas can maintain all branch
locations under one office license.
A. True
B. False - ✔✔A
A buyer or seller is an agent's _____________ until he or she becomes a client.
A. appointed associates
B. cooperative
C. buyer
D. customer
E. subagent
F. general
G. seller
H. in-house
I. customer
J. intermediary
K. selling agent
L. special - ✔✔I
A certain practice by a licensee can be unethical, even if it is legal.
A. True
B. False - ✔✔A
, A contract created by behavior is known as a/an:
A. Express contract
B. Implied contract
C. Behavioral contract
D. Void contract - ✔✔B
A contract for the purpose of performing an illegal act is ___________________.
A. Voidable
B. Void
C. Valid
D. Unilateral - ✔✔B
A contract has been signed and acceptance has been communicated prior to closing the contract
is a(n) _______________ contract.
A. Voidable
B. Executory
C. Fully executed
D. Unenforceable - ✔✔B
A contract in which both parties are obligated to perform is a _________________________ contract.
A. Unlawful practice of law
B. Contract
C. Voidable
D. Statute of Frauds
________________ of the Commission members are brokers.
A. Two
B. Three
C. Six
D. Seven - ✔✔C
_________________ of the Commission members represent the public.
A. Two
B. Three
C. Six
D. Nine - ✔✔B
___________________________ is a form of ownership between married couples that is based upon
Spanish law.
A. partition
B. joint tenancy
C. community property
D. estate in severalty
E. tenancy in common - ✔✔C
___________________________ is the division of property owned by two or more individuals.
A. partition
B. joint tenancy
,C. community property
D. estate in severalty
E. tenancy in common - ✔✔A
___________________________ is the most common form of ownership between two or more
individuals who are not married.
A. partition
B. joint tenancy
C. community property
D. estate in severalty
E. tenancy in common - ✔✔E
A broker can only represent a seller or buyer, but not both in the same transaction.
A. True
B. False - ✔✔B
A broker is a person who, for compensation:
A. Sells, exchanges or leases real estate property
B. Lists or attempts to list real estate for sale, lease or exchange
C. Controls the acceptance or deposit of rent from a resident from a single-family real
property unit
D. All of the above - ✔✔D
A broker must display, in each place of business that a broker maintains, the:
A. Notice of Lead Based Paint Hazards
,B. Consumer Information Form 1-1
C. Information About Brokerage Services
D. Notice of Intermediary - ✔✔B
A broker who maintains more than one place of business in the State of Texas can maintain all branch
locations under one office license.
A. True
B. False - ✔✔A
A buyer or seller is an agent's _____________ until he or she becomes a client.
A. appointed associates
B. cooperative
C. buyer
D. customer
E. subagent
F. general
G. seller
H. in-house
I. customer
J. intermediary
K. selling agent
L. special - ✔✔I
A certain practice by a licensee can be unethical, even if it is legal.
A. True
B. False - ✔✔A
, A contract created by behavior is known as a/an:
A. Express contract
B. Implied contract
C. Behavioral contract
D. Void contract - ✔✔B
A contract for the purpose of performing an illegal act is ___________________.
A. Voidable
B. Void
C. Valid
D. Unilateral - ✔✔B
A contract has been signed and acceptance has been communicated prior to closing the contract
is a(n) _______________ contract.
A. Voidable
B. Executory
C. Fully executed
D. Unenforceable - ✔✔B
A contract in which both parties are obligated to perform is a _________________________ contract.
A. Unlawful practice of law
B. Contract
C. Voidable
D. Statute of Frauds
