Aceable Agent - Texas Real Estate 1 Practice Test Exam Questions and Answers | Updated 2026

Aceable Agent - Texas Real Estate 1 Practice Test Exam Questions and Answers | Updated 2026 Severance - answer-turn real property into personal property Voidable - answer-can be terminated or rescinded by either party Real property refers to the land and improvements on it plus the set of rights associated with real estate ownership. - answer-land, and improvements on it plus the set of rights associated with real estate ownership Sponsoring Broker - answer-Sales agents accept commission from Counteroffer - answer-party makes changes to an offer and represents the new offer Uniqueness - answer-no two tracts of land are the same Special Agency - answer-Broker signs listing agreement with seller Lot and Block - answer-Plat, Oak Grove, Block 600, Lot 5, Dallas County, TX Fair Housing - answer-the Department of Housing and Urban Development, commonly referred to as HUD, enforces the What consequences could a broker suffer if a court concludes they knowingly and intentionally conveyed incomplete or false information to a customer? - answer-If they are found to be knowingly and intentionally at fault, they may be punished with Treble damages for both economic damages and mental ds for disciplinary action, including revocation or suspension of a license, EXCEPT - answer-Asking buyers to provide their own transportation to inspect a property Condo - answer-An owner lives in a single family dwelling but only owns the building. The homeowner's association owns and maintains the grounds, the pool and the exercise room. All of the owners in the area share the common areas. What does the owner live in? Market Information - answer-agents use as a basis for advising a prospect Trade Fixture - answer-Dining Room Table in NOT 2 Years - answer-How often can homeowners take advantage of capital gains exemption under the Taxpayer Relief Act of 1997? belong to the landlord upon expiration of the lease - answer-If a tenant were to buy and install new cabinets for their kitchen, they would: Trustee - answer-Who holds title and manages the property in a trust? Justice - answer-NOT included as a popular canon Act as attorney in fact for the client - answer-What can a special agent NOT do? to be informed on race and religious identities prominent in certain neighborhoods - answer-Which is not an obligation of a real estate agent as a real estate brokerage practitioner? Situs - answer-economic preference for a certain location Abstract of Title - answer-condensed history of title to a tract of land that summarizes the transfers of ownership and encumbrances is know as:Chapter 1101 and 1102 of the Texas Occupations Code - answer-main laws governing real estate license holders Chattel - answer-term real property NOT include tax liens - answer-Homestead rights don't offer protections from Bilateral contract - answer-Real Estate Sales Contract Blockbusting - answer-phrase for encouraging the panic selling of homes at below their market value