AYPO REAL ESTATE PRINCIPLES 1
The Texas Real Estate Commission consists of members appointed by the governor
with the advice and consent of the: Senate. What is their composition?
- None of these answers are correct
- Six members who have been engaged in the brokerage business as licensed brokers
as their major occupation for five years proceeding appointment; and six members who
represent the public
- three members who have been engaged in the brokerage business as licensed
brokers as their major occupation for five years proceeding appointment; and six
members who represent the public
-Six members who have been engaged in the brokerage business as licensed brokers
as their major occupation for five years proceeding appointment; and three members
who represent the public - Answers-Six members who have been engaged in the
brokerage business as licensed brokers as their major occupation for five years
proceeding appointment; and three members who represent the public
The term "False, Misleading or Deceptive acts or practices" Includes, but is not limited
to which of the following acts?
- Disparaging the goods
- All of these
-Passing off goods and services as those of another
-Using deceptive representations or designations of geographic origin in connection with
goods or services - Answers-- All of these
What are the components of the NFIP - Answers-Risk mitigation
Risk identification
Subsidization
General rule of caputure applies to: - Answers-Game animals, ground water, and oil
Limited service broker - Answers-For a flat fee, posts on MLS but does not represent
the seller in any other capacity.
Per 1101.2051(b) information or material prepared or copiled by the commission in
connection with complaint, investigation or audit may be disclosed with: - Answers-The
respondent of the complaint
Texas courts, define "Unconsiionable" as which of the following - Answers-The act of
taking advantage of another who is less sophisticated and less informed
Common elements of a condominium: - Answers-Stairways, roofs and the lands
, Difference between C and S corps. - Answers-Class C Corps do not have to pass
through taxation
An estimate of the amount of money that could be gained if the property was quickly
sold in low demand market is: - Answers-Liquidation Value
Advantages of written contracts - Answers-- Less ambiguity can lead to easier
enforcement
-Written contracts can precisely state warranty terms
-Written contracts provide a much higher level of certainty
This amendment guarantees that a citizen will not be deprived of property without due
process of law - Answers-5th Amendment
A testamentary trust is created through what? - Answers-A will
Under legal guidelines established by court precedent in contract law - Answers-- Later
agreements supersede earlier agreements
-Written agreements take precedance over oral agreements
-Specifications prevail over drawings
The executive director shall give notice of the commissions order to the party under
investigation. The notice must do which of the following?
- State the amount of any penalty imposed
-All of these
-Inform the person of the rights to judicial review
-Include the findings of fact and conclusions of law, separated stated - Answers--All of
these
Public beach policy for the state of Texas Includes - Answers-The public shall have free
and unrestricted right of ingress and egress to and for the state owned beaches
bordering the Seward shore of the gulf of Mexico
Emblements - Answers-Harvestable plants, tress, and cultivated vegetation
An aggrieved party may bring a private enforcement action in a state or federal court
under which of these circumstances? - Answers-Within two year of the stated
discriminatory action and can even be filed if an administratice proceeding through
TWCCRD is in process
Largest and most complete bundle of rights of ownership is which of these? - Answers-
Fee Simple Absolute
The Texas Real Estate Commission consists of members appointed by the governor
with the advice and consent of the: Senate. What is their composition?
- None of these answers are correct
- Six members who have been engaged in the brokerage business as licensed brokers
as their major occupation for five years proceeding appointment; and six members who
represent the public
- three members who have been engaged in the brokerage business as licensed
brokers as their major occupation for five years proceeding appointment; and six
members who represent the public
-Six members who have been engaged in the brokerage business as licensed brokers
as their major occupation for five years proceeding appointment; and three members
who represent the public - Answers-Six members who have been engaged in the
brokerage business as licensed brokers as their major occupation for five years
proceeding appointment; and three members who represent the public
The term "False, Misleading or Deceptive acts or practices" Includes, but is not limited
to which of the following acts?
- Disparaging the goods
- All of these
-Passing off goods and services as those of another
-Using deceptive representations or designations of geographic origin in connection with
goods or services - Answers-- All of these
What are the components of the NFIP - Answers-Risk mitigation
Risk identification
Subsidization
General rule of caputure applies to: - Answers-Game animals, ground water, and oil
Limited service broker - Answers-For a flat fee, posts on MLS but does not represent
the seller in any other capacity.
Per 1101.2051(b) information or material prepared or copiled by the commission in
connection with complaint, investigation or audit may be disclosed with: - Answers-The
respondent of the complaint
Texas courts, define "Unconsiionable" as which of the following - Answers-The act of
taking advantage of another who is less sophisticated and less informed
Common elements of a condominium: - Answers-Stairways, roofs and the lands
, Difference between C and S corps. - Answers-Class C Corps do not have to pass
through taxation
An estimate of the amount of money that could be gained if the property was quickly
sold in low demand market is: - Answers-Liquidation Value
Advantages of written contracts - Answers-- Less ambiguity can lead to easier
enforcement
-Written contracts can precisely state warranty terms
-Written contracts provide a much higher level of certainty
This amendment guarantees that a citizen will not be deprived of property without due
process of law - Answers-5th Amendment
A testamentary trust is created through what? - Answers-A will
Under legal guidelines established by court precedent in contract law - Answers-- Later
agreements supersede earlier agreements
-Written agreements take precedance over oral agreements
-Specifications prevail over drawings
The executive director shall give notice of the commissions order to the party under
investigation. The notice must do which of the following?
- State the amount of any penalty imposed
-All of these
-Inform the person of the rights to judicial review
-Include the findings of fact and conclusions of law, separated stated - Answers--All of
these
Public beach policy for the state of Texas Includes - Answers-The public shall have free
and unrestricted right of ingress and egress to and for the state owned beaches
bordering the Seward shore of the gulf of Mexico
Emblements - Answers-Harvestable plants, tress, and cultivated vegetation
An aggrieved party may bring a private enforcement action in a state or federal court
under which of these circumstances? - Answers-Within two year of the stated
discriminatory action and can even be filed if an administratice proceeding through
TWCCRD is in process
Largest and most complete bundle of rights of ownership is which of these? - Answers-
Fee Simple Absolute
