Principles of Real Estate 1
TREC - ANS- The ESAC makes recommendations for improvements to real estate
education to the ______, which is tasked with implementing the new standards.
An intermediary - ANS- Emilia is a broker who is employed to negotiate a transaction
between both parties to a transaction, and with the parties' written consent, may act as
the agent of the two parties. In what capacity is Emilia acting?
Rectangular government survey - ANS- Which of the following legal descriptions is not
used in Texas?
Doug is buying Norm's farm, but has a serious accident and no longer wants to own a
farm, so his daughter Linda decides to buy the property. Norm agrees to the substitution
of Linda for Doug in the purchase contract, effectively creating a new contract. - ANS-
Which of the following scenarios is an example of novation?
Novation - ANS- Mary contracted to buy her mother's house when her mother moves to a
senior living community, but now Mary has to move because of work and no longer
wants to buy the house. With their mother's agreement, Mary's sister, Tina, steps in,
releasing Mary from her obligation. They write up a new contract, with the only change
being that Tina is now the party to the contract rather than Mary. What's happened here?
At the time that the licensee is having the first substantive dialogue about a specific
property with the party whom they are not representing in the transaction - ANS- In
Texas, when is a licensee required to provide an agency disclosure?
The federal Fair Housing Act allows an exemption for communities that are designed and
operated for senior use. - ANS- A family of four, with children ages six and nine, is
denied the opportunity to view an available unit at a community that caters to seniors.
Which of the following statements is true?
Texas Real Estate Dealers Act - ANS- What was the name of the first law regulating real
estate brokerage in Texas, which was originally passed in 1939?
Race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or
gender identity - ANS- Which of these groups of protected classes is included in the
NAR Code of Ethics' definition of discriminatory behavior?
, Aggrieved persons affected by a license or certificate holder's wrongdoing - ANS- Who
is entitled to reimbursement from the Real Estate Recovery Trust Account?
A fair housing specialist will review the complaint. - ANS- Which of these statements
best represents what happens after a federal fair housing complaint is made?
TREC - ANS- ______ enforces the Canons of Professional Ethics and Conduct in Texas.
Interest on the first $750,000 of mortgage debt is deductible for married couples filing
jointly or $375,000 for married couples filing separately. - ANS- Which of the following is
a true statement about deducting interest on mortgages taken out in tax years between
2018 and 2025?
A young couple planning a family - ANS- What type of buyer would be most attracted to
a single-family dwelling?
Datum - ANS- What's the point from which elevation is measured?
Shelves attached to the wall with brackets - ANS- Examples of real property and fixtures
include which of the following?
Prohibit a license holder from using a contract that has been drafted by the property
owner's attorney. - ANS- TREC does NOT have the right to do which of the following?
The address at which the broker's office is located - ANS- Dana is a licensed broker in
Texas. She has one primary location from which she conducts most of her business.
However, she does have two additional branch locations. What must be included on all
branch license certificates?
Estate at will - ANS- Which of the following is a leasehold estate for an unknown period
of time, with either party permitted to terminate the lease by giving notice to the other?
compensation - ANS- The client owes the agent the primary duties of ______,
information, indemnification, and availability.
lending practices - ANS- HMDA requires lenders to collect, maintain, and report data on
which of the following?
Americans with Disabilities Act - ANS- What's the name of the act that requires public
accommodation areas to be accessible?
Signed by the person to be charged with the promise/agreement - ANS- Per the Texas
statute of frauds, a contract for the sale of real estate is only enforceable if it is in writing
and ______.
TREC - ANS- The ESAC makes recommendations for improvements to real estate
education to the ______, which is tasked with implementing the new standards.
An intermediary - ANS- Emilia is a broker who is employed to negotiate a transaction
between both parties to a transaction, and with the parties' written consent, may act as
the agent of the two parties. In what capacity is Emilia acting?
Rectangular government survey - ANS- Which of the following legal descriptions is not
used in Texas?
Doug is buying Norm's farm, but has a serious accident and no longer wants to own a
farm, so his daughter Linda decides to buy the property. Norm agrees to the substitution
of Linda for Doug in the purchase contract, effectively creating a new contract. - ANS-
Which of the following scenarios is an example of novation?
Novation - ANS- Mary contracted to buy her mother's house when her mother moves to a
senior living community, but now Mary has to move because of work and no longer
wants to buy the house. With their mother's agreement, Mary's sister, Tina, steps in,
releasing Mary from her obligation. They write up a new contract, with the only change
being that Tina is now the party to the contract rather than Mary. What's happened here?
At the time that the licensee is having the first substantive dialogue about a specific
property with the party whom they are not representing in the transaction - ANS- In
Texas, when is a licensee required to provide an agency disclosure?
The federal Fair Housing Act allows an exemption for communities that are designed and
operated for senior use. - ANS- A family of four, with children ages six and nine, is
denied the opportunity to view an available unit at a community that caters to seniors.
Which of the following statements is true?
Texas Real Estate Dealers Act - ANS- What was the name of the first law regulating real
estate brokerage in Texas, which was originally passed in 1939?
Race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or
gender identity - ANS- Which of these groups of protected classes is included in the
NAR Code of Ethics' definition of discriminatory behavior?
, Aggrieved persons affected by a license or certificate holder's wrongdoing - ANS- Who
is entitled to reimbursement from the Real Estate Recovery Trust Account?
A fair housing specialist will review the complaint. - ANS- Which of these statements
best represents what happens after a federal fair housing complaint is made?
TREC - ANS- ______ enforces the Canons of Professional Ethics and Conduct in Texas.
Interest on the first $750,000 of mortgage debt is deductible for married couples filing
jointly or $375,000 for married couples filing separately. - ANS- Which of the following is
a true statement about deducting interest on mortgages taken out in tax years between
2018 and 2025?
A young couple planning a family - ANS- What type of buyer would be most attracted to
a single-family dwelling?
Datum - ANS- What's the point from which elevation is measured?
Shelves attached to the wall with brackets - ANS- Examples of real property and fixtures
include which of the following?
Prohibit a license holder from using a contract that has been drafted by the property
owner's attorney. - ANS- TREC does NOT have the right to do which of the following?
The address at which the broker's office is located - ANS- Dana is a licensed broker in
Texas. She has one primary location from which she conducts most of her business.
However, she does have two additional branch locations. What must be included on all
branch license certificates?
Estate at will - ANS- Which of the following is a leasehold estate for an unknown period
of time, with either party permitted to terminate the lease by giving notice to the other?
compensation - ANS- The client owes the agent the primary duties of ______,
information, indemnification, and availability.
lending practices - ANS- HMDA requires lenders to collect, maintain, and report data on
which of the following?
Americans with Disabilities Act - ANS- What's the name of the act that requires public
accommodation areas to be accessible?
Signed by the person to be charged with the promise/agreement - ANS- Per the Texas
statute of frauds, a contract for the sale of real estate is only enforceable if it is in writing
and ______.
