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203 Cards in this Set
- Front
- Back
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The Fair Housing Act of 1988, which addresses accessibility in new multi-family buildings for people with physical disabilities , mandate all of the following except ? |
Elevators and power lifts , these are not required but accommodations must be made to have ground level units available for persons with disabilities . |
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When does a seller agree or disagree to allow sub-agency. |
The seller must agree to sub-agency at the time of the listing agreement is signed |
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The Texas Real Estate Commission is composed of?? |
6 brokers, 3 public members. |
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A voluntary dispute resolution process is called |
Mediation |
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A salesperson wants to offer a home for sale by lottery. This method is? |
Prohibited and grounds for suspension or revocation of their license , NO licensee may off a property for sale by means of a lottery. |
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An agents and assistant is on the way to make presentation and the agent gets hurt but assistant is ok, what does assistant do? |
Call the agents broker so she can make the presentation |
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When the law does not speak to specific situations is decided by |
Case Law |
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Under community property, the co-owners are |
Spouses |
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Encroachment: |
When a structure extends beyond the bounds of the property. In this case the fence is extending into the property of another and therefor Dan is encroaching upon the property of another with his fence a foot on his neighbors property |
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An existing agency relationship MUST be disclosed to another party to a proposed transaction |
AT FIRST contact |
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It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
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It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
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Under Texas Real Estate Licensing Act , all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT |
Offering property for sale without a signed listing agreement |
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|
It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
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Under Texas Real Estate Licensing Act , all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT |
Offering property for sale without a signed listing agreement |
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Without legal agreement , a spouses rental income from separate property is |
Community property , during marriage all property , money, or income is considered both spouses |
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It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
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|
Under Texas Real Estate Licensing Act , all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT |
Offering property for sale without a signed listing agreement |
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|
Without legal agreement , a spouses rental income from separate property is |
Community property , during marriage all property , money, or income is considered both spouses |
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Even if the number of days in paragraph one of the third party Addendum is left blank, the buyer sill has the right to terminate the contract if they cannot obtain financing |
This is False , there are no days stipulated in the Third Party FinancingAddendum , then the buyer may not terminated the contract if they are unable to obtain financing |
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|
It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
|
|
Under Texas Real Estate Licensing Act , all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT |
Offering property for sale without a signed listing agreement |
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|
Without legal agreement , a spouses rental income from separate property is |
Community property , during marriage all property , money, or income is considered both spouses |
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|
Even if the number of days in paragraph one of the third party Addendum is left blank, the buyer sill has the right to terminate the contract if they cannot obtain financing |
This is False , there are no days stipulated in the Third Party FinancingAddendum , then the buyer may not terminated the contract if they are unable to obtain financing |
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If the person is only acting as a Leasing Consultant and working directly for the owner , they are NOT required to a have a real estate license ! |
^^ |
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|
It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
|
|
Under Texas Real Estate Licensing Act , all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT |
Offering property for sale without a signed listing agreement |
|
|
Without legal agreement , a spouses rental income from separate property is |
Community property , during marriage all property , money, or income is considered both spouses |
|
|
Even if the number of days in paragraph one of the third party Addendum is left blank, the buyer sill has the right to terminate the contract if they cannot obtain financing |
This is False , there are no days stipulated in the Third Party FinancingAddendum , then the buyer may not terminated the contract if they are unable to obtain financing |
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|
If the person is only acting as a Leasing Consultant and working directly for the owner , they are NOT required to a have a real estate license ! |
^^ |
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A buyer using FHA insured financing is required to pay a Mortgage Insurance Premium |
YES |
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|
It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
|
|
Under Texas Real Estate Licensing Act , all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT |
Offering property for sale without a signed listing agreement |
|
|
Without legal agreement , a spouses rental income from separate property is |
Community property , during marriage all property , money, or income is considered both spouses |
|
|
Even if the number of days in paragraph one of the third party Addendum is left blank, the buyer sill has the right to terminate the contract if they cannot obtain financing |
This is False , there are no days stipulated in the Third Party FinancingAddendum , then the buyer may not terminated the contract if they are unable to obtain financing |
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|
If the person is only acting as a Leasing Consultant and working directly for the owner , they are NOT required to a have a real estate license ! |
^^ |
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|
A buyer using FHA insured financing is required to pay a Mortgage Insurance Premium |
YES |
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"Code of Ethics and Standards of Practice" cover all of the duties to the following except |
To the Real Estate Commission , realtors have no duties to Real Estate Commission |
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|
It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
|
|
Under Texas Real Estate Licensing Act , all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT |
Offering property for sale without a signed listing agreement |
|
|
Without legal agreement , a spouses rental income from separate property is |
Community property , during marriage all property , money, or income is considered both spouses |
|
|
Even if the number of days in paragraph one of the third party Addendum is left blank, the buyer sill has the right to terminate the contract if they cannot obtain financing |
This is False , there are no days stipulated in the Third Party FinancingAddendum , then the buyer may not terminated the contract if they are unable to obtain financing |
|
|
If the person is only acting as a Leasing Consultant and working directly for the owner , they are NOT required to a have a real estate license ! |
^^ |
|
|
A buyer using FHA insured financing is required to pay a Mortgage Insurance Premium |
YES |
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|
"Code of Ethics and Standards of Practice" cover all of the duties to the following except |
To the Real Estate Commission , realtors have no duties to Real Estate Commission |
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|
The obligation of protecting any deposits entrusted to an agent is an example of the fiduciary duty of?? |
ACCOUNTING |
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|
It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
|
|
Under Texas Real Estate Licensing Act , all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT |
Offering property for sale without a signed listing agreement |
|
|
Without legal agreement , a spouses rental income from separate property is |
Community property , during marriage all property , money, or income is considered both spouses |
|
|
Even if the number of days in paragraph one of the third party Addendum is left blank, the buyer sill has the right to terminate the contract if they cannot obtain financing |
This is False , there are no days stipulated in the Third Party FinancingAddendum , then the buyer may not terminated the contract if they are unable to obtain financing |
|
|
If the person is only acting as a Leasing Consultant and working directly for the owner , they are NOT required to a have a real estate license ! |
^^ |
|
|
A buyer using FHA insured financing is required to pay a Mortgage Insurance Premium |
YES |
|
|
"Code of Ethics and Standards of Practice" cover all of the duties to the following except |
To the Real Estate Commission , realtors have no duties to Real Estate Commission |
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The obligation of protecting any deposits entrusted to an agent is an example of the fiduciary duty of?? |
ACCOUNTING |
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A contract which states one promise given in exchange for another can best be described as a |
BILATERAL Contract |
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It is unlawful for a person to act as a real estate salesperson unless |
Such person is legally associated with a licensed Texas Real Estae Broker |
|
|
Under Texas Real Estate Licensing Act , all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT |
Offering property for sale without a signed listing agreement |
|
|
Without legal agreement , a spouses rental income from separate property is |
Community property , during marriage all property , money, or income is considered both spouses |
|
|
Even if the number of days in paragraph one of the third party Addendum is left blank, the buyer sill has the right to terminate the contract if they cannot obtain financing |
This is False , there are no days stipulated in the Third Party FinancingAddendum , then the buyer may not terminated the contract if they are unable to obtain financing |
|
|
If the person is only acting as a Leasing Consultant and working directly for the owner , they are NOT required to a have a real estate license ! |
^^ |
|
|
A buyer using FHA insured financing is required to pay a Mortgage Insurance Premium |
YES |
|
|
"Code of Ethics and Standards of Practice" cover all of the duties to the following except |
To the Real Estate Commission , realtors have no duties to Real Estate Commission |
|
|
The obligation of protecting any deposits entrusted to an agent is an example of the fiduciary duty of?? |
ACCOUNTING |
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A contract which states one promise given in exchange for another can best be described as a |
BILATERAL Contract |
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The Real Estate center at Texas A&M University is funded by |
$140.00 from brokers and $40.00 from sales persons, each time a licensee is issued or renewed |
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The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
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The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
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In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
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|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
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In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
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|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
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|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
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|
In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
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|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
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A legal arrangement whereby title to property is held for the benefit of a beneficiary is a |
TRUST |
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|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
|
|
In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
|
|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
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|
A legal arrangement whereby title to property is held for the benefit of a beneficiary is a |
TRUST |
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A property held by Fred, Gina, and Hank as tenants common . When Gina dies to whom will her interest pass to? |
Ginas Heirs |
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|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
|
|
In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
|
|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
|
|
A legal arrangement whereby title to property is held for the benefit of a beneficiary is a |
TRUST |
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|
A property held by Fred, Gina, and Hank as tenants common . When Gina dies to whom will her interest pass to? |
Ginas Heirs |
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|
The third party financing addendum is NOT used with |
Seller Financing |
|
|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
|
|
In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
|
|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
|
|
A legal arrangement whereby title to property is held for the benefit of a beneficiary is a |
TRUST |
|
|
A property held by Fred, Gina, and Hank as tenants common . When Gina dies to whom will her interest pass to? |
Ginas Heirs |
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|
The third party financing addendum is NOT used with |
Seller Financing |
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|
Of the property has or had mold, where is the proper place for the seller to inform the purchaser of this fact? |
Sellers disclosure notice |
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|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
|
|
In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
|
|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
|
|
A legal arrangement whereby title to property is held for the benefit of a beneficiary is a |
TRUST |
|
|
A property held by Fred, Gina, and Hank as tenants common . When Gina dies to whom will her interest pass to? |
Ginas Heirs |
|
|
The third party financing addendum is NOT used with |
Seller Financing |
|
|
Of the property has or had mold, where is the proper place for the seller to inform the purchaser of this fact? |
Sellers disclosure notice |
|
|
A novation is best defined as: |
The substitution of a new contract for an existing contract agreement with the intent of extinguishing the old contract |
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|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
|
|
In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
|
|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
|
|
A legal arrangement whereby title to property is held for the benefit of a beneficiary is a |
TRUST |
|
|
A property held by Fred, Gina, and Hank as tenants common . When Gina dies to whom will her interest pass to? |
Ginas Heirs |
|
|
The third party financing addendum is NOT used with |
Seller Financing |
|
|
Of the property has or had mold, where is the proper place for the seller to inform the purchaser of this fact? |
Sellers disclosure notice |
|
|
A novation is best defined as: |
The substitution of a new contract for an existing contract agreement with the intent of extinguishing the old contract |
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|
In a listing agreement if the property is under contract with a buyer and the listing expires , is the broker still entitled to a commission ? |
YES , you have earned our commission , you just will have not received commission until closing of the sell |
|
|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
|
|
In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
|
|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
|
|
A legal arrangement whereby title to property is held for the benefit of a beneficiary is a |
TRUST |
|
|
A property held by Fred, Gina, and Hank as tenants common . When Gina dies to whom will her interest pass to? |
Ginas Heirs |
|
|
The third party financing addendum is NOT used with |
Seller Financing |
|
|
Of the property has or had mold, where is the proper place for the seller to inform the purchaser of this fact? |
Sellers disclosure notice |
|
|
A novation is best defined as: |
The substitution of a new contract for an existing contract agreement with the intent of extinguishing the old contract |
|
|
In a listing agreement if the property is under contract with a buyer and the listing expires , is the broker still entitled to a commission ? |
YES , you have earned our commission , you just will have not received commission until closing of the sell |
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|
When a licensee functions as a principal and not as a agent |
A form other then one promulgated may be used |
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|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
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|
The Sellers disclosure notice is part of ?? |
Texas Property Code |
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|
In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
|
|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
|
|
A legal arrangement whereby title to property is held for the benefit of a beneficiary is a |
TRUST |
|
|
A property held by Fred, Gina, and Hank as tenants common . When Gina dies to whom will her interest pass to? |
Ginas Heirs |
|
|
The third party financing addendum is NOT used with |
Seller Financing |
|
|
Of the property has or had mold, where is the proper place for the seller to inform the purchaser of this fact? |
Sellers disclosure notice |
|
|
A novation is best defined as: |
The substitution of a new contract for an existing contract agreement with the intent of extinguishing the old contract |
|
|
In a listing agreement if the property is under contract with a buyer and the listing expires , is the broker still entitled to a commission ? |
YES , you have earned our commission , you just will have not received commission until closing of the sell |
|
|
When a licensee functions as a principal and not as a agent |
A form other then one promulgated may be used |
|
|
The Texas real estate commission is composed of |
6 brokers and 3 public members appointed by the governor with senate approval |
|
|
The Sellers disclosure notice is part of ?? |
Texas Property Code |
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Can a broker act as a dual agent in a real estate transaction? |
NO, a broker must move to the intermediary position if they are to represent both the buyer and the seller |
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|
In order to become a broker the salesperson must have experience points. The number of experience points required is : |
3600 points and 4 years experience |
|
|
The maximum amount recoverable from the Real Estate Recovery Fund for losses by 1 licensee is |
100,000$ for all claimants combined |
|
|
A legal arrangement whereby title to property is held for the benefit of a beneficiary is a |
TRUST |
|
|
A property held by Fred, Gina, and Hank as tenants common . When Gina dies to whom will her interest pass to? |
Ginas Heirs |
|
|
The third party financing addendum is NOT used with |
Seller Financing |
|
|
Of the property has or had mold, where is the proper place for the seller to inform the purchaser of this fact? |
Sellers disclosure notice |
|
|
A novation is best defined as: |
The substitution of a new contract for an existing contract agreement with the intent of extinguishing the old contract |
|
|
In a listing agreement if the property is under contract with a buyer and the listing expires , is the broker still entitled to a commission ? |
YES , you have earned our commission , you just will have not received commission until closing of the sell |
|
|
When a licensee functions as a principal and not as a agent |
A form other then one promulgated may be used |
|
|
The Fair Housing Act of 1988, which addresses accessibility in new multi-family buildings for people with physical disabilities , mandate all of the following except ? |
Elevators and power lifts , these are not required but accommodations must be made to have ground level units available for persons with disabilities . |
|
|
Which one of the following is authorized by statue to promulgate forms for mandatory use by real estate brokers for sales persons ? |
Texas Real Estate Commission |
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|
Property owned prior to the marriage is considered separate property and any property inherited by either husband or wife is once again considered separate property such as |
The interest income from the certificates of deposit owned by the wife and purchased with the proceeds of her personal injury settlement |
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Property owned prior to the marriage is considered separate property and any property inherited by either husband or wife is once again considered separate property such as |
The interest income from the certificates of deposit owned by the wife and purchased with the proceeds of her personal injury settlement |
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|
Sometimes a "limited" agent is also referred to as a: |
Special Agent |
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|
Property owned prior to the marriage is considered separate property and any property inherited by either husband or wife is once again considered separate property such as |
The interest income from the certificates of deposit owned by the wife and purchased with the proceeds of her personal injury settlement |
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|
Sometimes a "limited" agent is also referred to as a: |
Special Agent |
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|
What is required in order for a salesperson, who has been appointed and assigned to one of the parties , to be able to convey confidential information about the other party to the party to whom he or she has been appointed ? |
Written permission of the other party |
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|
Property owned prior to the marriage is considered separate property and any property inherited by either husband or wife is once again considered separate property such as |
The interest income from the certificates of deposit owned by the wife and purchased with the proceeds of her personal injury settlement |
|
|
Sometimes a "limited" agent is also referred to as a: |
Special Agent |
|
|
What is required in order for a salesperson, who has been appointed and assigned to one of the parties , to be able to convey confidential information about the other party to the party to whom he or she has been appointed ? |
Written permission of the other party |
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|
All of the following are true about discount point EXCEPT : |
Discount points must be part of all contracts , it is the borrower option to paid discount points or not . |
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The seller and buyer have agreed to all of the following terms of a contract but later decide to change and agree on it. What form should they use for the change? |
An amendment |
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The Texas homestead law provides for a reduction in ad Valorem taxes liability on a principal residence for all but which of the following individuals ? |
A couple who owns a condominium in Corpus Christi and claim a Homestead in Colorado , by Texas Law an Owner can only legally have 1 homestead property at a time . |
|
|
The Texas homestead law provides for a reduction in ad Valorem taxes liability on a principal residence for all but which of the following individuals ? |
A couple who owns a condominium in Corpus Christi and claim a Homestead in Colorado , by Texas Law an Owner can only legally have 1 homestead property at a time . |
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|
If a Broker fails to renew their license as required and the broker license become EXPIRED, all agents sponsored by that broker will immediately go InActive until they find a NEW broker to Sponsor them. |
^^ |
|
|
The Texas homestead law provides for a reduction in ad Valorem taxes liability on a principal residence for all but which of the following individuals ? |
A couple who owns a condominium in Corpus Christi and claim a Homestead in Colorado , by Texas Law an Owner can only legally have 1 homestead property at a time . |
|
|
If a Broker fails to renew their license as required and the broker license become EXPIRED, all agents sponsored by that broker will immediately go InActive until they find a NEW broker to Sponsor them. |
^^ |
|
|
When a homeowner who is entitled by Texas Law to a homestead exemption is sued by creditors , the general creditors ? |
Usually have NO right to have the debtors home sold, under the Texas homestead laws, general creditors unrelated to the property normally have no right to force the sell of the homestead property |
|
|
The Texas homestead law provides for a reduction in ad Valorem taxes liability on a principal residence for all but which of the following individuals ? |
A couple who owns a condominium in Corpus Christi and claim a Homestead in Colorado , by Texas Law an Owner can only legally have 1 homestead property at a time . |
|
|
If a Broker fails to renew their license as required and the broker license become EXPIRED, all agents sponsored by that broker will immediately go InActive until they find a NEW broker to Sponsor them. |
^^ |
|
|
When a homeowner who is entitled by Texas Law to a homestead exemption is sued by creditors , the general creditors ? |
Usually have NO right to have the debtors home sold, under the Texas homestead laws, general creditors unrelated to the property normally have no right to force the sell of the homestead property |
|
|
During the period after a real estate sales contract is signed but before title actually passes, the status of the contract is? |
Executory , once the contract is sinned by all parties the contact is said to be executory , the contract is not executed until all parties have completely performed on the contract , this is normally at closing when the seed is transferred and the purchase price is paid . |
|
|
The Texas homestead law provides for a reduction in ad Valorem taxes liability on a principal residence for all but which of the following individuals ? |
A couple who owns a condominium in Corpus Christi and claim a Homestead in Colorado , by Texas Law an Owner can only legally have 1 homestead property at a time . |
|
|
If a Broker fails to renew their license as required and the broker license become EXPIRED, all agents sponsored by that broker will immediately go InActive until they find a NEW broker to Sponsor them. |
^^ |
|
|
When a homeowner who is entitled by Texas Law to a homestead exemption is sued by creditors , the general creditors ? |
Usually have NO right to have the debtors home sold, under the Texas homestead laws, general creditors unrelated to the property normally have no right to force the sell of the homestead property |
|
|
During the period after a real estate sales contract is signed but before title actually passes, the status of the contract is? |
Executory , once the contract is sinned by all parties the contact is said to be executory , the contract is not executed until all parties have completely performed on the contract , this is normally at closing when the seed is transferred and the purchase price is paid . |
|
|
At a listing presentation, what is the first document the seller should see? |
Information about Brokerage Services |
|
|
The Texas homestead law provides for a reduction in ad Valorem taxes liability on a principal residence for all but which of the following individuals ? |
A couple who owns a condominium in Corpus Christi and claim a Homestead in Colorado , by Texas Law an Owner can only legally have 1 homestead property at a time . |
|
|
If a Broker fails to renew their license as required and the broker license become EXPIRED, all agents sponsored by that broker will immediately go InActive until they find a NEW broker to Sponsor them. |
^^ |
|
|
When a homeowner who is entitled by Texas Law to a homestead exemption is sued by creditors , the general creditors ? |
Usually have NO right to have the debtors home sold, under the Texas homestead laws, general creditors unrelated to the property normally have no right to force the sell of the homestead property |
|
|
During the period after a real estate sales contract is signed but before title actually passes, the status of the contract is? |
Executory , once the contract is sinned by all parties the contact is said to be executory , the contract is not executed until all parties have completely performed on the contract , this is normally at closing when the seed is transferred and the purchase price is paid . |
|
|
At a listing presentation, what is the first document the seller should see? |
Information about Brokerage Services |
|
|
When a licensee acts in capacity of a principle he may create his own contract form? |
TRUE |
|
|
The Texas homestead law provides for a reduction in ad Valorem taxes liability on a principal residence for all but which of the following individuals ? |
A couple who owns a condominium in Corpus Christi and claim a Homestead in Colorado , by Texas Law an Owner can only legally have 1 homestead property at a time . |
|
|
If a Broker fails to renew their license as required and the broker license become EXPIRED, all agents sponsored by that broker will immediately go InActive until they find a NEW broker to Sponsor them. |
^^ |
|
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When a homeowner who is entitled by Texas Law to a homestead exemption is sued by creditors , the general creditors ? |
Usually have NO right to have the debtors home sold, under the Texas homestead laws, general creditors unrelated to the property normally have no right to force the sell of the homestead property |
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During the period after a real estate sales contract is signed but before title actually passes, the status of the contract is? |
Executory , once the contract is sinned by all parties the contact is said to be executory , the contract is not executed until all parties have completely performed on the contract , this is normally at closing when the seed is transferred and the purchase price is paid . |
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At a listing presentation, what is the first document the seller should see? |
Information about Brokerage Services |
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When a licensee acts in capacity of a principle he may create his own contract form? |
TRUE |
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An owner lists a 4-bedroom home for sale with a real estate company and tells the agent. Not to lease it to any family with more then two older children. What should the agent do? |
Refuse the listing , owners and real estate agents alike can NOT discriminate against families with children ! |
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Each resident must maintain a fixed office within Texas. What must a broker do when he or she wants to maintain multiple offices ? |
Obtain a branch office license for each location |
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Each resident must maintain a fixed office within Texas. What must a broker do when he or she wants to maintain multiple offices ? |
Obtain a branch office license for each location |
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What are the required number of MCE Hours needed to renew a salesperson license after all SAE requirements have been met? |
3 hours of ethics , 3 hours of legal, and 9 hours of related MCE Hours for second year renewal |
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Each resident must maintain a fixed office within Texas. What must a broker do when he or she wants to maintain multiple offices ? |
Obtain a branch office license for each location |
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What are the required number of MCE Hours needed to renew a salesperson license after all SAE requirements have been met? |
3 hours of ethics , 3 hours of legal, and 9 hours of related MCE Hours for second year renewal |
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Which of the following terms is most synonymous with the buyer when two licensees are functioning as a listing agent and as a sub-agent? |
Customer , if you are working with a party but representing another party , the party you are working with is considered customer |
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Each resident must maintain a fixed office within Texas. What must a broker do when he or she wants to maintain multiple offices ? |
Obtain a branch office license for each location |
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What are the required number of MCE Hours needed to renew a salesperson license after all SAE requirements have been met? |
3 hours of ethics , 3 hours of legal, and 9 hours of related MCE Hours for second year renewal |
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Which of the following terms is most synonymous with the buyer when two licensees are functioning as a listing agent and as a sub-agent? |
Customer , if you are working with a party but representing another party , the party you are working with is considered customer |
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Your buyers have signed a contract to purchase a home but the contract is subject to the sale of their current home. This is called a? |
Contingency |
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Each resident must maintain a fixed office within Texas. What must a broker do when he or she wants to maintain multiple offices ? |
Obtain a branch office license for each location |
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What are the required number of MCE Hours needed to renew a salesperson license after all SAE requirements have been met? |
3 hours of ethics , 3 hours of legal, and 9 hours of related MCE Hours for second year renewal |
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Which of the following terms is most synonymous with the buyer when two licensees are functioning as a listing agent and as a sub-agent? |
Customer , if you are working with a party but representing another party , the party you are working with is considered customer |
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Your buyers have signed a contract to purchase a home but the contract is subject to the sale of their current home. This is called a? |
Contingency |
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Nick has permission from Anthony's land during the autumn months. Nick has a ? |
License , a license is the right that the property owner give another to use his or her land . |
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An outside listing agent involved in lease negotiations, coordinating of the transaction, and fed collection is a |
Real Estate Agent |
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An outside listing agent involved in lease negotiations, coordinating of the transaction, and fed collection is a |
Real Estate Agent |
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Under the Texas Real estate Licensing Act, all of the following actions are cause to suspend or revoke a license held by a broker or salesperson EXCEPT : |
Offering property for sale without a signed listing agreements |
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The TAR Residential Buyer/Tenant Representation Agreement says that the buyers broker is ? |
Allowed to represent other prospects . The broker is allowed to show the same property to different clients |
