TEXAS PRINCIPLES OF REAL ESTATE 1 AN 2 EXAMS PACKAGE
DEAL LATEST , QUESTIONS AND CORRECT ANSWERS
The Committee has _____ members appointed by the Commission. - ANSWER: 12
The __________ is a statute that is administered and enforced by the Texas Real
Estate Commission (TREC), which is a state agency. - ANSWER: Real Estate License
Act
A successful career in real estate requires someone to: - ANSWER: be a self-started.
A peak is characterized as the __________ turning point of a business cycle. -
ANSWER: upper
To be eligible to get a Texas real estate sales agent or broker license, a person must:
- ANSWER: All of the choices apply
Which of the following is not a duty of TREC? - ANSWER: Creates state laws, statues,
and rules
What are changes in business and economic activity that occur within the year? -
ANSWER: Short-term fluctuations.
The majority of new licensees begin their careers with a __________ to help
homeowners sell and homebuyers purchase homes. - ANSWER: residential
brokerage
Which of the following statements is true regarding NAR and TAR? - ANSWER: All of
the choices apply.
Any person who wants to engage in the real estate business and act as a real estate
broker or real estate sales agent within the state of Texas must obtain a license from
the: - ANSWER: Texas Real Estate Commission.
The Education Standards Advisory Committee is responsible for reviewing and
revising: - ANSWER: All of the choices apply.
A(n) __________ is a rule issued by an administrative agency to enforce or amplify a
statute. - ANSWER: regulation
A __________ is a voluntary nonprofit organization of independent and competing
business units engaged in the same industry or trade, formed to help solve industry
problems, promote progress, and enhance service. - ANSWER: trade association
, Which of the following is true regarding the employee tax status for real estate sales
agents or broker-sales agents? - ANSWER: All of the choices apply.
Which of the following gives buyers the best opportunity to purchase real estate? -
ANSWER: Trough
In addition to the legal and ethical requirements, to be eligible to get a Texas real
estate sales agent or broker license, the applicant must: - ANSWER: both complete
the required courses of study and pass the state licensing examination.
Real estate agents who do not comply with the duties and obligations required by
law may be subject to: - ANSWER: All of the choices apply.
Any form of online presence that allows end users to engage in multi-directional
conversations in or around the content on the website is referred to as: - ANSWER:
Social Media
Advertisements must include a designation, such as __________, that identifies the
advertiser as a real estate agent. - ANSWER: all of the choices apply
The two main types of real estate licenses are the: - ANSWER: broker's license and
sales agent's license.
__________ is written law enacted by state (or federal) legislative bodies. - ANSWER:
Statutory law
What encompasses the activities a sales agent performs in order to seek out
potential clients? - ANSWER: Prospecting
The Education Standards Advisory Committee was created in: - ANSWER: 2012.
If a real estate salesperson closes on a transaction, who pays the salesperson their
commission? - ANSWER: The salesperson's sponsoring broker
A means of comparing similar type properties, which have recently sold, to the
subject property is known as the? - ANSWER: Market Comparison Approach
The market comparison approach is commonly used for this property type? -
ANSWER: Residential
The amount of goods offered for sale within a given market at a given price during a
given time period is known as? - ANSWER: Supply
A real estate agent is an example of what type of agent? - ANSWER: Special agent
A refrigerator is typically considered? - ANSWER: Personal Property
DEAL LATEST , QUESTIONS AND CORRECT ANSWERS
The Committee has _____ members appointed by the Commission. - ANSWER: 12
The __________ is a statute that is administered and enforced by the Texas Real
Estate Commission (TREC), which is a state agency. - ANSWER: Real Estate License
Act
A successful career in real estate requires someone to: - ANSWER: be a self-started.
A peak is characterized as the __________ turning point of a business cycle. -
ANSWER: upper
To be eligible to get a Texas real estate sales agent or broker license, a person must:
- ANSWER: All of the choices apply
Which of the following is not a duty of TREC? - ANSWER: Creates state laws, statues,
and rules
What are changes in business and economic activity that occur within the year? -
ANSWER: Short-term fluctuations.
The majority of new licensees begin their careers with a __________ to help
homeowners sell and homebuyers purchase homes. - ANSWER: residential
brokerage
Which of the following statements is true regarding NAR and TAR? - ANSWER: All of
the choices apply.
Any person who wants to engage in the real estate business and act as a real estate
broker or real estate sales agent within the state of Texas must obtain a license from
the: - ANSWER: Texas Real Estate Commission.
The Education Standards Advisory Committee is responsible for reviewing and
revising: - ANSWER: All of the choices apply.
A(n) __________ is a rule issued by an administrative agency to enforce or amplify a
statute. - ANSWER: regulation
A __________ is a voluntary nonprofit organization of independent and competing
business units engaged in the same industry or trade, formed to help solve industry
problems, promote progress, and enhance service. - ANSWER: trade association
, Which of the following is true regarding the employee tax status for real estate sales
agents or broker-sales agents? - ANSWER: All of the choices apply.
Which of the following gives buyers the best opportunity to purchase real estate? -
ANSWER: Trough
In addition to the legal and ethical requirements, to be eligible to get a Texas real
estate sales agent or broker license, the applicant must: - ANSWER: both complete
the required courses of study and pass the state licensing examination.
Real estate agents who do not comply with the duties and obligations required by
law may be subject to: - ANSWER: All of the choices apply.
Any form of online presence that allows end users to engage in multi-directional
conversations in or around the content on the website is referred to as: - ANSWER:
Social Media
Advertisements must include a designation, such as __________, that identifies the
advertiser as a real estate agent. - ANSWER: all of the choices apply
The two main types of real estate licenses are the: - ANSWER: broker's license and
sales agent's license.
__________ is written law enacted by state (or federal) legislative bodies. - ANSWER:
Statutory law
What encompasses the activities a sales agent performs in order to seek out
potential clients? - ANSWER: Prospecting
The Education Standards Advisory Committee was created in: - ANSWER: 2012.
If a real estate salesperson closes on a transaction, who pays the salesperson their
commission? - ANSWER: The salesperson's sponsoring broker
A means of comparing similar type properties, which have recently sold, to the
subject property is known as the? - ANSWER: Market Comparison Approach
The market comparison approach is commonly used for this property type? -
ANSWER: Residential
The amount of goods offered for sale within a given market at a given price during a
given time period is known as? - ANSWER: Supply
A real estate agent is an example of what type of agent? - ANSWER: Special agent
A refrigerator is typically considered? - ANSWER: Personal Property
