CHAMPIONS REAL ESTATE AGENCY EXAM 2025|103 QUESTIONS
WITH ACCURATE SOLUTIONS
1. According to the DTPA, which of the following is included in the definition
of a residence?
a) a single-family house
b) a unit in a multi-unit complex
c) a condominium or cooperative system
d)all of these: All of these
2. Which entity mandates the disclosure of representation in real
estate transactions in Texas?
Texas Real Estate License Act
The Supreme Court
The Governor
National Association of Realtors
3. What's true about the Consumer Protection Notice?
It's a notice that describes the occupations that TREC regulates,
how to contact TREC, and the consumer's right to make a
complaint about a licensee.
It's an agency disclosure that educates consumers about the
possible forms of brokerage representation.
It describes the rules that telemarketers, including real estate
licensees, must use, and a consumer's right to make complaints to
the FCC.
It's a disclosure that licensees must provide to consumers at
their first substantive contact.
,4. Lisa is looking for someone to sell her house, and she speaks to
several potential brokers. What event will create an express seller
agency
relationship between Lisa and one of the brokers?
Lisa sends an e-mail to a broker asking for more information.
Lisa signs a broker-buyer contract.
Lisa signs a listing agreement.
Lisa tells a broker that she thinks she thinks she would like to work
with them.
5. A broker's responsibility for disclosure is limited to
areas: Inside the property
Outside the property
Accessible for visual inspection
The seller informs them of
6. Explain the significance of a Buyer/Tenant Representation Agreement
in the context of real estate transactions.
It outlines the commission structure for the broker.
It establishes a legal relationship between the buyer and the
broker, ensuring the buyer's interests are prioritized.
It serves as a marketing tool for the broker to attract more clients.
It is a mandatory document for all real estate transactions.
7. If a new sales agent enters into an independent contractor agreement
with a broker, what responsibilities does the broker assume in relation to
the
agent's actions in real estate transactions?
The broker must ensure that the agent complies with all
advertising rules and ethical standards.
, The broker is not responsible for the agent's actions as they are
independent contractors.
The broker must personally oversee every transaction conducted
by the agent.
The broker can delegate all responsibilities to the agent without any
oversight.
8. The utilitarian approach for ethical standards states:
An ethical action is the one that best protects and respects the
moral rights of the affected parties.
An ethical action is one that shows respect and compassion for all
others.
An ethical action is the one that provides the most good or
does the least harm.
An ethical action is one that treats all human beings equally, or, if
unequally, then fairly based on some defensible standard.
9. Which of the following actions creates risk for the broker?
Mishandling trust funds
Unintentionally creating an unwritten agency relationship with a
potential buyer/seller
Failing to give the proper disclosures in a timely manner
All of these actions create risk for the broker
10. What form must an agent provide to a potential client at the
first substantive discussion of a real estate transaction?
Buyer's Representation Agreement
IABS (Information about Brokerage Services)
Canons of Professional Ethics for Real Estate Agents
, The VAMA
11. Which approach to ethical standards focuses on actions that
maximize overall benefit and minimize harm?
Rights
Common good
Utilitarian
Fairness or Justice
12. In a real estate transaction, if Broker Susan is representing the seller, what is
the primary role of Broker Daniel?
Representing the seller
Representing both the buyer and seller
Representing the buyer
Acting as a neutral party
13. Exist when one person, (the agent )ask for, or on behalf of
another person, (the principal)
Subagency
Agency relationship
Special
agency
Cooperative
14. If a real estate agent were to split a commission with a friend who is not
a licensed agent, what potential consequences could they face
according to TREC regulations?
A) They could receive a warning but keep their license.
B) They could face suspension or revocation of their license.
C) They would be required to pay a fine only.
WITH ACCURATE SOLUTIONS
1. According to the DTPA, which of the following is included in the definition
of a residence?
a) a single-family house
b) a unit in a multi-unit complex
c) a condominium or cooperative system
d)all of these: All of these
2. Which entity mandates the disclosure of representation in real
estate transactions in Texas?
Texas Real Estate License Act
The Supreme Court
The Governor
National Association of Realtors
3. What's true about the Consumer Protection Notice?
It's a notice that describes the occupations that TREC regulates,
how to contact TREC, and the consumer's right to make a
complaint about a licensee.
It's an agency disclosure that educates consumers about the
possible forms of brokerage representation.
It describes the rules that telemarketers, including real estate
licensees, must use, and a consumer's right to make complaints to
the FCC.
It's a disclosure that licensees must provide to consumers at
their first substantive contact.
,4. Lisa is looking for someone to sell her house, and she speaks to
several potential brokers. What event will create an express seller
agency
relationship between Lisa and one of the brokers?
Lisa sends an e-mail to a broker asking for more information.
Lisa signs a broker-buyer contract.
Lisa signs a listing agreement.
Lisa tells a broker that she thinks she thinks she would like to work
with them.
5. A broker's responsibility for disclosure is limited to
areas: Inside the property
Outside the property
Accessible for visual inspection
The seller informs them of
6. Explain the significance of a Buyer/Tenant Representation Agreement
in the context of real estate transactions.
It outlines the commission structure for the broker.
It establishes a legal relationship between the buyer and the
broker, ensuring the buyer's interests are prioritized.
It serves as a marketing tool for the broker to attract more clients.
It is a mandatory document for all real estate transactions.
7. If a new sales agent enters into an independent contractor agreement
with a broker, what responsibilities does the broker assume in relation to
the
agent's actions in real estate transactions?
The broker must ensure that the agent complies with all
advertising rules and ethical standards.
, The broker is not responsible for the agent's actions as they are
independent contractors.
The broker must personally oversee every transaction conducted
by the agent.
The broker can delegate all responsibilities to the agent without any
oversight.
8. The utilitarian approach for ethical standards states:
An ethical action is the one that best protects and respects the
moral rights of the affected parties.
An ethical action is one that shows respect and compassion for all
others.
An ethical action is the one that provides the most good or
does the least harm.
An ethical action is one that treats all human beings equally, or, if
unequally, then fairly based on some defensible standard.
9. Which of the following actions creates risk for the broker?
Mishandling trust funds
Unintentionally creating an unwritten agency relationship with a
potential buyer/seller
Failing to give the proper disclosures in a timely manner
All of these actions create risk for the broker
10. What form must an agent provide to a potential client at the
first substantive discussion of a real estate transaction?
Buyer's Representation Agreement
IABS (Information about Brokerage Services)
Canons of Professional Ethics for Real Estate Agents
, The VAMA
11. Which approach to ethical standards focuses on actions that
maximize overall benefit and minimize harm?
Rights
Common good
Utilitarian
Fairness or Justice
12. In a real estate transaction, if Broker Susan is representing the seller, what is
the primary role of Broker Daniel?
Representing the seller
Representing both the buyer and seller
Representing the buyer
Acting as a neutral party
13. Exist when one person, (the agent )ask for, or on behalf of
another person, (the principal)
Subagency
Agency relationship
Special
agency
Cooperative
14. If a real estate agent were to split a commission with a friend who is not
a licensed agent, what potential consequences could they face
according to TREC regulations?
A) They could receive a warning but keep their license.
B) They could face suspension or revocation of their license.
C) They would be required to pay a fine only.
