TEXAS PRINCIPLES OF REAL ESTATE 1 FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE NEWEST 2026 ALL IN ONE DOCUMENT COMPLETE
COURSE 160 QUESTIONS AND ANSWERS
Study online at https://quizlet.com/_fvg1mf
1. Agent the party authorized to conduct business on the princi-
pal's behalf
2. Agency a legal relationship between a principal and an agent
3. Blockbusting the illegal practice of encouraging property owners to sell
their homes when minorities begin moving into an area
4. Broker an intermediary who brings together buyers and sellers,
assists in negotiating agreements between them, exe-
cutes their orders, and receives compensation for ser-
vices rendered
5. Buyer Repre- the legal agreement between a buyer and a broker hired
sentation Agree- to represent the buyer's interest
ment
6. Buyer's Agent a broker who is legally obligated to represent a buyer's
interest
7. Commission an agreement between a seller and broker for the pay-
Agreement ment of a commission if the broker is successful in locat-
ing a buyer for the seller's property
8. Dual Agent an agent who attempts to work in the best interest of two
parties on opposing sides of a transaction
9. Exclusive-Bro- an agreement between a property owner and a single
kerage Listing broker authorizing that broker to seek a buyer for the
property in exchange for compensation
10. Fair Housing laws that protect the rights of certain citizens in housing
Laws transactions
11. Fiduciary a person who is obligated to act in the best interest of
another
12. Fraud
, TEXAS PRINCIPLES OF REAL ESTATE 1 FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE NEWEST 2026 ALL IN ONE DOCUMENT COMPLETE
COURSE 160 QUESTIONS AND ANSWERS
Study online at https://quizlet.com/_fvg1mf
a false statement made with the intention to mislead, that
is material to a transaction, that is justifiably relied on by
a client, and that results in injury to the client
13. Limited-service an agreement between a property owner/seller that au-
listing thorizes a broker to perform certain tasks to seek a buyer
for the property
14. Listing Agree- the legal agreement between a broker and a property
ment owner that authorizes the broker to attempt to sell the
property
15. LISTING BRO- the broker who negotiates the listing agreement with the
KER seller
16. MISREPRESEN- a false statement that is material to a transaction, that is
TATION justifiably relied upon by a client, and that results in injury
to the client
17. MULTIPLE LIST- an arrangement in which brokers share their listings with
ING SERVICE other brokers in exchange for a share of the commission
(MLS) generated by a transaction
18. NET LISTING a listing agreement in which the broker is entitled to
receive as commission any amount above a base price
19. OPEN LISTING a listing agreement in which a broker is entitled to receive
a commission only in the event the broker procures a
buyer for the property
20. PRINCIPAL the person who authorizes an agent to conduct business
on his or her behalf
21. REAL ESTATE an individual licensed by a state to represent others in real
BROKER estate transactions in exchange for compensation
22. SELLER'S a real estate broker who is obligated to represent the best
AGENT interest of the seller
AND STUDY GUIDE NEWEST 2026 ALL IN ONE DOCUMENT COMPLETE
COURSE 160 QUESTIONS AND ANSWERS
Study online at https://quizlet.com/_fvg1mf
1. Agent the party authorized to conduct business on the princi-
pal's behalf
2. Agency a legal relationship between a principal and an agent
3. Blockbusting the illegal practice of encouraging property owners to sell
their homes when minorities begin moving into an area
4. Broker an intermediary who brings together buyers and sellers,
assists in negotiating agreements between them, exe-
cutes their orders, and receives compensation for ser-
vices rendered
5. Buyer Repre- the legal agreement between a buyer and a broker hired
sentation Agree- to represent the buyer's interest
ment
6. Buyer's Agent a broker who is legally obligated to represent a buyer's
interest
7. Commission an agreement between a seller and broker for the pay-
Agreement ment of a commission if the broker is successful in locat-
ing a buyer for the seller's property
8. Dual Agent an agent who attempts to work in the best interest of two
parties on opposing sides of a transaction
9. Exclusive-Bro- an agreement between a property owner and a single
kerage Listing broker authorizing that broker to seek a buyer for the
property in exchange for compensation
10. Fair Housing laws that protect the rights of certain citizens in housing
Laws transactions
11. Fiduciary a person who is obligated to act in the best interest of
another
12. Fraud
, TEXAS PRINCIPLES OF REAL ESTATE 1 FINAL EXAM, PRACTICE EXAM
AND STUDY GUIDE NEWEST 2026 ALL IN ONE DOCUMENT COMPLETE
COURSE 160 QUESTIONS AND ANSWERS
Study online at https://quizlet.com/_fvg1mf
a false statement made with the intention to mislead, that
is material to a transaction, that is justifiably relied on by
a client, and that results in injury to the client
13. Limited-service an agreement between a property owner/seller that au-
listing thorizes a broker to perform certain tasks to seek a buyer
for the property
14. Listing Agree- the legal agreement between a broker and a property
ment owner that authorizes the broker to attempt to sell the
property
15. LISTING BRO- the broker who negotiates the listing agreement with the
KER seller
16. MISREPRESEN- a false statement that is material to a transaction, that is
TATION justifiably relied upon by a client, and that results in injury
to the client
17. MULTIPLE LIST- an arrangement in which brokers share their listings with
ING SERVICE other brokers in exchange for a share of the commission
(MLS) generated by a transaction
18. NET LISTING a listing agreement in which the broker is entitled to
receive as commission any amount above a base price
19. OPEN LISTING a listing agreement in which a broker is entitled to receive
a commission only in the event the broker procures a
buyer for the property
20. PRINCIPAL the person who authorizes an agent to conduct business
on his or her behalf
21. REAL ESTATE an individual licensed by a state to represent others in real
BROKER estate transactions in exchange for compensation
22. SELLER'S a real estate broker who is obligated to represent the best
AGENT interest of the seller
