Texas Real Estate Principles 1 - Unit 1 EXAM (2025)
QUESTIONS AND (elaborated) WITH COMPLETE
SOLUTIONS
The Committee has _____ members appointed by the Commission. - (answers)12
The __________ is a statute that is administered and enforced by the Texas Real
Estate Commission (TREC), which is a state agency. - (answers)Real Estate License
Act
A successful career in real estate requires someone to: - (answers)be a self-
started.
A peak is characterized as the __________ turning point of a business cycle. -
(answers)upper
To be eligible to get a Texas real estate sales agent or broker license, a person
must: - (answers)All of the choices apply
Which of the following is not a duty of TREC? - (answers)Creates state laws,
statues, and rules
What are changes in business and economic activity that occur within the year? -
(answers)Short-term fluctuations.
, The majority of new licensees begin their careers with a __________ to help
homeowners sell and homebuyers purchase homes. - (answers)residential
brokerage
Which of the following statements is true regarding NAR and TAR? - (answers)All
of the choices apply.
Any person who wants to engage in the real estate business and act as a real
estate broker or real estate sales agent within the state of Texas must obtain a
license from the: - (answers)Texas Real Estate Commission.
The Education Standards Advisory Committee is responsible for reviewing and
revising: - (answers)All of the choices apply.
A(n) __________ is a rule issued by an administrative agency to enforce or
amplify a statute. - (answers)regulation
A __________ is a voluntary nonprofit organization of independent and
competing business units engaged in the same industry or trade, formed to help
solve industry problems, promote progress, and enhance service. - (answers)trade
association
Which of the following is true regarding the employee tax status for real estate
sales agents or broker-sales agents? - (answers)All of the choices apply.
QUESTIONS AND (elaborated) WITH COMPLETE
SOLUTIONS
The Committee has _____ members appointed by the Commission. - (answers)12
The __________ is a statute that is administered and enforced by the Texas Real
Estate Commission (TREC), which is a state agency. - (answers)Real Estate License
Act
A successful career in real estate requires someone to: - (answers)be a self-
started.
A peak is characterized as the __________ turning point of a business cycle. -
(answers)upper
To be eligible to get a Texas real estate sales agent or broker license, a person
must: - (answers)All of the choices apply
Which of the following is not a duty of TREC? - (answers)Creates state laws,
statues, and rules
What are changes in business and economic activity that occur within the year? -
(answers)Short-term fluctuations.
, The majority of new licensees begin their careers with a __________ to help
homeowners sell and homebuyers purchase homes. - (answers)residential
brokerage
Which of the following statements is true regarding NAR and TAR? - (answers)All
of the choices apply.
Any person who wants to engage in the real estate business and act as a real
estate broker or real estate sales agent within the state of Texas must obtain a
license from the: - (answers)Texas Real Estate Commission.
The Education Standards Advisory Committee is responsible for reviewing and
revising: - (answers)All of the choices apply.
A(n) __________ is a rule issued by an administrative agency to enforce or
amplify a statute. - (answers)regulation
A __________ is a voluntary nonprofit organization of independent and
competing business units engaged in the same industry or trade, formed to help
solve industry problems, promote progress, and enhance service. - (answers)trade
association
Which of the following is true regarding the employee tax status for real estate
sales agents or broker-sales agents? - (answers)All of the choices apply.
