TEXAS PRINCIPLES OF REAL ESTATE 1 EXAM LATEST , PRACTICE
QUESTIONS AND CORRECT ANSWERS
Joint tenancy is ended when which of the following unities is ended - ANSWER:
Unity of time
Which of these IS NOT associated with metes and bounds measurements? -
ANSWER: Statues
Applicants who are rejected for credit must be notified in writing of the basic
reasons of their application, and the reason for their credit rating when? - ANSWER:
within 30 days
Which of these IS NOT one of the five canons of ethics? - ANSWER: Cooperation
Multiple real estate brokerages establishing an across-the-board 6% commission for
their agents would be guilty of: - ANSWER: price fixing
What causes great harm or substantially lessens the value of the contract for the
non-breaching party? - ANSWER: Material breach
A counteroffer is: - ANSWER: a rejection of the original offer
A person is not engaged in real estate brokerage, regardless of whether the person is
licensed under this chapter, based solely on engaging in the following activities: -
ANSWER: constructing, remodeling, or repairing a home or other building
What is the name of the governing body for real estate in Texas? - ANSWER: texas
real estate commission (TREC)
A subdivision plat description is: - ANSWER: a legal description that does not
describe each boundary line, but instead refers to a plat, survey, deed, or other
instrument that does show the full particular legal description
The largest and most complete bundle of rights of wonership is which of these? -
ANSWER: Fee simple absolute
Emblements are... - ANSWER: harvestable plants, trees, and uncultivated
vegetation
What is the purpose of real estate licensing law? - ANSWER: All of these answers are
correct.
to protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
, to set out minimum standatds and qulifications for licensing brokers and sales
agents.
to protect licenses brokers and sales agents from unfair and improper competition.
The commissioin may require a license holder whose licenst suspension or
revocation is "probated" to do which of these? - ANSWER: Limit practice to an area
prescribed by the commission
Which of the following is one of the components of the NFIP? - ANSWER: All of
these answers are correct.
subsidization
risk identification
risk mitigation
Which of the following is NOT a type of depreciation? - ANSWER: market value
obsolescense
Which of the following fulfills Section 1101.806 of TRELA requirements for
compensation? - ANSWER: the agreement to pay was in writing and signed by the
party to be charged
When the relationship of a sales agent with the sales agent's sponsoring broker
terminates, the terminating party shall immediately notify: - ANSWER: in writing
both the other party and the commission
The Texas definition of consumer good (as clarified through judicial decisions)
includes just anout everything except which of these? - ANSWER: intangibles like
stocks
Which of these fair housing exemptions apply(ies) when a real estate licensee is
involved in a transaction? - ANSWER: there are no exemptions to fair housing laws
when a real estate licensee is involved in a transaction
The party possessing an encumbrance on another party's property has a/an
___________ that property. - ANSWER: All of these are correct
right to use of
claim on
interest in
QUESTIONS AND CORRECT ANSWERS
Joint tenancy is ended when which of the following unities is ended - ANSWER:
Unity of time
Which of these IS NOT associated with metes and bounds measurements? -
ANSWER: Statues
Applicants who are rejected for credit must be notified in writing of the basic
reasons of their application, and the reason for their credit rating when? - ANSWER:
within 30 days
Which of these IS NOT one of the five canons of ethics? - ANSWER: Cooperation
Multiple real estate brokerages establishing an across-the-board 6% commission for
their agents would be guilty of: - ANSWER: price fixing
What causes great harm or substantially lessens the value of the contract for the
non-breaching party? - ANSWER: Material breach
A counteroffer is: - ANSWER: a rejection of the original offer
A person is not engaged in real estate brokerage, regardless of whether the person is
licensed under this chapter, based solely on engaging in the following activities: -
ANSWER: constructing, remodeling, or repairing a home or other building
What is the name of the governing body for real estate in Texas? - ANSWER: texas
real estate commission (TREC)
A subdivision plat description is: - ANSWER: a legal description that does not
describe each boundary line, but instead refers to a plat, survey, deed, or other
instrument that does show the full particular legal description
The largest and most complete bundle of rights of wonership is which of these? -
ANSWER: Fee simple absolute
Emblements are... - ANSWER: harvestable plants, trees, and uncultivated
vegetation
What is the purpose of real estate licensing law? - ANSWER: All of these answers are
correct.
to protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
, to set out minimum standatds and qulifications for licensing brokers and sales
agents.
to protect licenses brokers and sales agents from unfair and improper competition.
The commissioin may require a license holder whose licenst suspension or
revocation is "probated" to do which of these? - ANSWER: Limit practice to an area
prescribed by the commission
Which of the following is one of the components of the NFIP? - ANSWER: All of
these answers are correct.
subsidization
risk identification
risk mitigation
Which of the following is NOT a type of depreciation? - ANSWER: market value
obsolescense
Which of the following fulfills Section 1101.806 of TRELA requirements for
compensation? - ANSWER: the agreement to pay was in writing and signed by the
party to be charged
When the relationship of a sales agent with the sales agent's sponsoring broker
terminates, the terminating party shall immediately notify: - ANSWER: in writing
both the other party and the commission
The Texas definition of consumer good (as clarified through judicial decisions)
includes just anout everything except which of these? - ANSWER: intangibles like
stocks
Which of these fair housing exemptions apply(ies) when a real estate licensee is
involved in a transaction? - ANSWER: there are no exemptions to fair housing laws
when a real estate licensee is involved in a transaction
The party possessing an encumbrance on another party's property has a/an
___________ that property. - ANSWER: All of these are correct
right to use of
claim on
interest in
