TEXAS PRINCIPLES 1 EXAM ACTUAL EXAM 300
QUESTIONS AND CORRECT DETAILED ANSWERS WITH
RATIONALES (VERIFIED ASNWERS) |ALREADY GRADED
A+
A person appointed to the TREC is - ANSWER: entitled to reimbursement for the
travel expenses incurred in attending required training programs.
- Which of the following statements best defines the concept of procuring cause? -
ANSWER: The party who initiated and carried through the sequence of events that
leads to a successful transaction
How do ethical questions influence on arbitration hearings? - ANSWER: they are
irrelevant
According to the most successful estate professionals, what helped them the most to
grow their business? - ANSWER: recommendations of the past clients and their
returns
Which statement is FALSE for being a main information source for the real estate
professional code of ethics? - ANSWER: Specialized websites
- What is the purpose of the Standard of Practice? - ANSWER: to clarify, interpret, or
give examples of the intent of the article itself
Who may ask additional questions during professional standards hearings? -
ANSWER: Either of the parties or the panel members
What is the first step when filing a complaint against a REALTOR®? - ANSWER:
Contact the local board or association.
Exercising skill and judgment in performing duties is a tenet of what Texas Real
Estate Commission Canon? - ANSWER: Competency
Good ethical practices have to do with - ANSWER: trustworthiness, honesty, and
competence.
What is the maximum fine that can be issued by the National Association of Realtors
for an ethics violation committed by one of their members? - ANSWER: $15,000
Between whom must arbitration be conducted? - ANSWER: between brokers
What may help a broker to achieve success? - ANSWER: being ethical
, What is the legal force of the 5 Canons of Professional Ethics and Conduct? -
ANSWER: they have the force and effect of law in Texas
What is the main feature of the beginning statements of the Code? - ANSWER: they
may not be enforced, as can the various Articles that make up the code
What is the purpose of the Grievance Committee? - ANSWER: to review the
complaint and to make a decision to dismiss or forward the complaint for a
Professional Standards Hearing or Arbitration Hearing
What is the purpose of the Standard of Practice? - ANSWER: to clarify, interpret, or
give examples of the intent of the article itself
Who may ask additional questions during professional standards hearings? -
ANSWER: Either of the parties or the panel members
Who sits on the NAR Grievance Committee? - ANSWER: REALTOR® members
What is the due process of an arbitration hearing? - ANSWER: the same as one of the
"ethics hearing" panel
Are ethics and legality similar categories? - ANSWER: ethics have nothing to do with
legality
What is the advantage of a professional standards hearing when a problem occurs? -
ANSWER: a decrease of time and money expenses for all of the parties involved
What are the main sections in which the Code's articles divided? - ANSWER: Duties
to Clients and Customers, Duties to the Public, Duties to fellow REALTORS
The Consumer Information Form 1-1 deals with the - ANSWER: Real Estate Recovery
Trust Account.
What is the first step when filing a complaint against a REALTOR®? - ANSWER:
Contact the local board or association.
Whom may both sides bring to the professional hearings? - ANSWER: legal counsel
What is the secondary goal of the Code of Ethics? - ANSWER: to provide protection
for the public by using a formal complaint process
When the case goes to an administrative hearing the person filing the complaint
_______________. - ANSWER: can intervene in the case
If a person believes he or she has been discriminated against, how long does he or
she have to file a HUD complaint? - ANSWER: 1 year
QUESTIONS AND CORRECT DETAILED ANSWERS WITH
RATIONALES (VERIFIED ASNWERS) |ALREADY GRADED
A+
A person appointed to the TREC is - ANSWER: entitled to reimbursement for the
travel expenses incurred in attending required training programs.
- Which of the following statements best defines the concept of procuring cause? -
ANSWER: The party who initiated and carried through the sequence of events that
leads to a successful transaction
How do ethical questions influence on arbitration hearings? - ANSWER: they are
irrelevant
According to the most successful estate professionals, what helped them the most to
grow their business? - ANSWER: recommendations of the past clients and their
returns
Which statement is FALSE for being a main information source for the real estate
professional code of ethics? - ANSWER: Specialized websites
- What is the purpose of the Standard of Practice? - ANSWER: to clarify, interpret, or
give examples of the intent of the article itself
Who may ask additional questions during professional standards hearings? -
ANSWER: Either of the parties or the panel members
What is the first step when filing a complaint against a REALTOR®? - ANSWER:
Contact the local board or association.
Exercising skill and judgment in performing duties is a tenet of what Texas Real
Estate Commission Canon? - ANSWER: Competency
Good ethical practices have to do with - ANSWER: trustworthiness, honesty, and
competence.
What is the maximum fine that can be issued by the National Association of Realtors
for an ethics violation committed by one of their members? - ANSWER: $15,000
Between whom must arbitration be conducted? - ANSWER: between brokers
What may help a broker to achieve success? - ANSWER: being ethical
, What is the legal force of the 5 Canons of Professional Ethics and Conduct? -
ANSWER: they have the force and effect of law in Texas
What is the main feature of the beginning statements of the Code? - ANSWER: they
may not be enforced, as can the various Articles that make up the code
What is the purpose of the Grievance Committee? - ANSWER: to review the
complaint and to make a decision to dismiss or forward the complaint for a
Professional Standards Hearing or Arbitration Hearing
What is the purpose of the Standard of Practice? - ANSWER: to clarify, interpret, or
give examples of the intent of the article itself
Who may ask additional questions during professional standards hearings? -
ANSWER: Either of the parties or the panel members
Who sits on the NAR Grievance Committee? - ANSWER: REALTOR® members
What is the due process of an arbitration hearing? - ANSWER: the same as one of the
"ethics hearing" panel
Are ethics and legality similar categories? - ANSWER: ethics have nothing to do with
legality
What is the advantage of a professional standards hearing when a problem occurs? -
ANSWER: a decrease of time and money expenses for all of the parties involved
What are the main sections in which the Code's articles divided? - ANSWER: Duties
to Clients and Customers, Duties to the Public, Duties to fellow REALTORS
The Consumer Information Form 1-1 deals with the - ANSWER: Real Estate Recovery
Trust Account.
What is the first step when filing a complaint against a REALTOR®? - ANSWER:
Contact the local board or association.
Whom may both sides bring to the professional hearings? - ANSWER: legal counsel
What is the secondary goal of the Code of Ethics? - ANSWER: to provide protection
for the public by using a formal complaint process
When the case goes to an administrative hearing the person filing the complaint
_______________. - ANSWER: can intervene in the case
If a person believes he or she has been discriminated against, how long does he or
she have to file a HUD complaint? - ANSWER: 1 year
