Texas Real Estate License Act Exam Questions with 100% Correct Answers

Sec. 1101.005. Applicability of Chapter lists the persons or entities to whom this chapter does not apply. Who are these people? Correct Answer * an attorney licensed in this state. * an attorney-in-fact authorized under a power of attorney to conduct a real estate transaction. * a public official while engaged in official duties. * an auctioneer licensed under chapter 1802 while conducting the sale of real estate by auction if the auctioneer does not perform another act of a broker or salesperson. * a person conducting a real estate transaction under a court order or the authority of a will or written trust instrument. * a person employed by an owner in the sale of structures and land on which structures are located if the structures are erected by the owner in the course of the owner's business. * an on-site manager of an apartment complex. * an owner or the owner's employee who leases the owner's improved or unimproved real estate. * a transaction involving: - the sale, lease, or transfer of a mineral or mining interest in real property. - the sale, lease, or transfer of a cemetery lot. - the lease or management of a hotel or motel. - the sale of real property under a power of sale conferred by a deed of trust or other contract lien. in section 1101.053 of TRELA define Texas trade association as? Correct Answer A cooperative and voluntarily joined statewide association of business or professional competitors in this state designed to assist its members and its industry or profession in dealing with mutual business or professional problems and in promoting their common interest. The Texas Association of REALTORS would be an example of a trade association. What does Subchapter B sec. 1101.057 Grounds for Removal describe? Correct Answer describes the circumstances that would constitute grounds for a commission member to be removed as one or more of the following: * Does not have at the time of appointment the qualifications required by Section 1101.051(a) or (b) or 1101.052 * Does not maintain during service on the commission the qualifications required by Section 1101.051(a) or (b) or 1101.052 * Is ineligible for membership under Section 1101.053 * Cannot discharge the member's duties for a substantial part of the member's term