335 real estate law EXAM QUESTIONS
AND ANSWERS 100% SOLVED (Newest
2025)
Capital gains tax benefits include up to $___ exclusion of
profit on the sale of a home owned an occupied as a principal
residence for at least two of the five years before the sale -
Correct Answers ✅$500,000
First time homebuyers are allowed penalty free withdraws up
to $___from an IRA - Correct Answers ✅10,000
Under The Texas mortgage credit certificate MCC program
eligible first time home buyers may claim a federal tax credit
for up to___percent of annual mortgage interest paid -
Correct Answers ✅40
With the passage of the taxpayer relief act of 1997, single
home owners are able to exclude up to $___of capital gains
realized on the sale or exchange of a principal residence -
Correct Answers ✅$250,000
The exclusion is allowed each time a Home owner sells or
exchanges a principal residence but generally no more
frequently than once every___years - Correct Answers
✅Two
Which age group has the highest homeownership rate
nationwide - Correct Answers ✅70 to 74-year-olds with
82.5%.
,335 real estate law EXAM QUESTIONS
AND ANSWERS 100% SOLVED (Newest
2025)
Which of the following statements is true
The Texas deceptive trade practices act is the codification of
the common law doctrine of caveat emptor
The DTPA provides for automatic traveling of awards for
actual damages
A threshold question under the DTPA is whether an individual
seeking remedies under the act as a consumer
A licensee is exempt from the DTPA lawsuits because the
licensee is rendering a professional service - Correct
Answers ✅A threshold question is whether an individual is
seeking remedies under the act as a consumer
In order to recover exemplary damages, the plaintiff must
prove that the defendant acted with - Correct Answers
✅Actual awareness of the false nature of the representation
or promise
How much in personal property Maia Texas family exempt -
Correct Answers ✅$100,000 in personal property,
,335 real estate law EXAM QUESTIONS
AND ANSWERS 100% SOLVED (Newest
2025)
exclusive of liens, security interest, or other charges income
bring the property
Which of the following entities is not a consumer under the
DTPA
A person buying a toaster
A corporate licensee with a net worth of 25 million that owns
and operates a best realty franchise
A billionaire purchasing a 35 million estate as a primary
residence
Homeowners acting as their own contractor in order to build
a $550,000 residence - Correct Answers ✅A corporate
licensee with the net worth of 25 million that owns and
operates a best realty franchise is not a consumer under the
DTPA, section 17.46B of the Texas business in commerce
If a plaintive can prove that a third-party had actual
awareness of the falsity of a representation or promise made
by another person, that the third-party failed to disclose the
falsity of the representation or promise to the defrauded
property, and the third-party benefited from the false
, 335 real estate law EXAM QUESTIONS
AND ANSWERS 100% SOLVED (Newest
2025)
representation or promise, the plaintive me recover from the
third-party - Correct Answers ✅Exemplary damages only
What does the caveat emptor doctrine mean for real estate
buyers - Correct Answers ✅At common law, real estate
transactions were governed by the doctrine of caveat exempt
or a Latin term for let the buyer beware. Essentially the
doctrine meant that a buyer could not bring a lawsuit to
recover damages for property defects or misrepresentation
unless those defects were latent, hidden, and within the
knowledge of the seller
Texas business in commerce code is commonly known as -
Correct Answers ✅The laundry list
Chris doesn't have much money and cannot hire other
experts like a lawyer so he's asking his agent Linda lots of
questions about the legal and tax implications of the sale.
She helps him as best as she can without veering into
unauthorized practice of law. What forms for Linda using this
transaction - Correct Answers ✅TREC forms. Section
537.118 requires a licensee to use only those forms
promulgated by Texas real estate commission when
negotiating contracts binding the sale, exchange, option,
lease or rental of any interest in real estate property
AND ANSWERS 100% SOLVED (Newest
2025)
Capital gains tax benefits include up to $___ exclusion of
profit on the sale of a home owned an occupied as a principal
residence for at least two of the five years before the sale -
Correct Answers ✅$500,000
First time homebuyers are allowed penalty free withdraws up
to $___from an IRA - Correct Answers ✅10,000
Under The Texas mortgage credit certificate MCC program
eligible first time home buyers may claim a federal tax credit
for up to___percent of annual mortgage interest paid -
Correct Answers ✅40
With the passage of the taxpayer relief act of 1997, single
home owners are able to exclude up to $___of capital gains
realized on the sale or exchange of a principal residence -
Correct Answers ✅$250,000
The exclusion is allowed each time a Home owner sells or
exchanges a principal residence but generally no more
frequently than once every___years - Correct Answers
✅Two
Which age group has the highest homeownership rate
nationwide - Correct Answers ✅70 to 74-year-olds with
82.5%.
,335 real estate law EXAM QUESTIONS
AND ANSWERS 100% SOLVED (Newest
2025)
Which of the following statements is true
The Texas deceptive trade practices act is the codification of
the common law doctrine of caveat emptor
The DTPA provides for automatic traveling of awards for
actual damages
A threshold question under the DTPA is whether an individual
seeking remedies under the act as a consumer
A licensee is exempt from the DTPA lawsuits because the
licensee is rendering a professional service - Correct
Answers ✅A threshold question is whether an individual is
seeking remedies under the act as a consumer
In order to recover exemplary damages, the plaintiff must
prove that the defendant acted with - Correct Answers
✅Actual awareness of the false nature of the representation
or promise
How much in personal property Maia Texas family exempt -
Correct Answers ✅$100,000 in personal property,
,335 real estate law EXAM QUESTIONS
AND ANSWERS 100% SOLVED (Newest
2025)
exclusive of liens, security interest, or other charges income
bring the property
Which of the following entities is not a consumer under the
DTPA
A person buying a toaster
A corporate licensee with a net worth of 25 million that owns
and operates a best realty franchise
A billionaire purchasing a 35 million estate as a primary
residence
Homeowners acting as their own contractor in order to build
a $550,000 residence - Correct Answers ✅A corporate
licensee with the net worth of 25 million that owns and
operates a best realty franchise is not a consumer under the
DTPA, section 17.46B of the Texas business in commerce
If a plaintive can prove that a third-party had actual
awareness of the falsity of a representation or promise made
by another person, that the third-party failed to disclose the
falsity of the representation or promise to the defrauded
property, and the third-party benefited from the false
, 335 real estate law EXAM QUESTIONS
AND ANSWERS 100% SOLVED (Newest
2025)
representation or promise, the plaintive me recover from the
third-party - Correct Answers ✅Exemplary damages only
What does the caveat emptor doctrine mean for real estate
buyers - Correct Answers ✅At common law, real estate
transactions were governed by the doctrine of caveat exempt
or a Latin term for let the buyer beware. Essentially the
doctrine meant that a buyer could not bring a lawsuit to
recover damages for property defects or misrepresentation
unless those defects were latent, hidden, and within the
knowledge of the seller
Texas business in commerce code is commonly known as -
Correct Answers ✅The laundry list
Chris doesn't have much money and cannot hire other
experts like a lawyer so he's asking his agent Linda lots of
questions about the legal and tax implications of the sale.
She helps him as best as she can without veering into
unauthorized practice of law. What forms for Linda using this
transaction - Correct Answers ✅TREC forms. Section
537.118 requires a licensee to use only those forms
promulgated by Texas real estate commission when
negotiating contracts binding the sale, exchange, option,
lease or rental of any interest in real estate property
