Texas State portion RE Exam
Questions and Answers10
A sales agent wished to transfer to a new broker. When may he engage in the business?
When the new broker receives a license for him from the Texas Real Estate Commission
After a waiting period of 48 hours
When his fees and sponsorship forms have been mailed to Texas Real Estate Commission
When the Texas Real Estate Commission receives his request for transfer - ANSWERS-When his
fees and sponsorship forms have been mailed to Texas Real Estate Commission
A broker from Florida refers a buyer to a Texas broker. The transaction closes and the Texas
broker earns a commission. Can he pay the Florida broker a commission?
No, he can give a referral gift of up to $200.00 in value, not cash
No, the Florida broker's actions in contributing to the preparation of the offer constitute
negotiating and that is not allowed
Yes
No, he cannot pay a commission to an out of state broker - ANSWERS-Yes
What is the purpose of Regulation Z?
To provide full disclosure of loan terms
To establish the right of the borrower to redeem property during foreclosure proceedings
To curtail the practice of redlining
To ensure that a real estate agent provides care, accounting, confidentiality, and disclosure to
their client - ANSWERS-To ensure that a real estate agent provides care, accounting,
confidentiality, and disclosure to their client
, Which of the following actions would be mandated by RESPA?
Protection of the ownership rights to minerals contained in a particular parcel of land
Full disclosure of hidden material/structural defects
Full disclosure of the terms of a loan
Provision of a good faith estimate - ANSWERS-Provision of a good faith estimate
According to the Texas Real Estate Commission One to Four Family Residential Contract, who is
responsible for paying the owner policy of title insurance?
The title company named in the contract
The buyer
The party stipulated in the contract
The seller - ANSWERS-The party stipulated in the contract
The fine when you practice real estate brokerage activities without a license is:
$4000
$100
$500
$2000 - ANSWERS-$4000
Who overhears the first meeting concerning a complaint filed against a real estate licensee?
General Counsel
Enforcement Division
Administrator
Broker and Mediator - ANSWERS-Administrator
When an agent advertises property for sale in a magazine, the ad must include a description
with the:
Questions and Answers10
A sales agent wished to transfer to a new broker. When may he engage in the business?
When the new broker receives a license for him from the Texas Real Estate Commission
After a waiting period of 48 hours
When his fees and sponsorship forms have been mailed to Texas Real Estate Commission
When the Texas Real Estate Commission receives his request for transfer - ANSWERS-When his
fees and sponsorship forms have been mailed to Texas Real Estate Commission
A broker from Florida refers a buyer to a Texas broker. The transaction closes and the Texas
broker earns a commission. Can he pay the Florida broker a commission?
No, he can give a referral gift of up to $200.00 in value, not cash
No, the Florida broker's actions in contributing to the preparation of the offer constitute
negotiating and that is not allowed
Yes
No, he cannot pay a commission to an out of state broker - ANSWERS-Yes
What is the purpose of Regulation Z?
To provide full disclosure of loan terms
To establish the right of the borrower to redeem property during foreclosure proceedings
To curtail the practice of redlining
To ensure that a real estate agent provides care, accounting, confidentiality, and disclosure to
their client - ANSWERS-To ensure that a real estate agent provides care, accounting,
confidentiality, and disclosure to their client
, Which of the following actions would be mandated by RESPA?
Protection of the ownership rights to minerals contained in a particular parcel of land
Full disclosure of hidden material/structural defects
Full disclosure of the terms of a loan
Provision of a good faith estimate - ANSWERS-Provision of a good faith estimate
According to the Texas Real Estate Commission One to Four Family Residential Contract, who is
responsible for paying the owner policy of title insurance?
The title company named in the contract
The buyer
The party stipulated in the contract
The seller - ANSWERS-The party stipulated in the contract
The fine when you practice real estate brokerage activities without a license is:
$4000
$100
$500
$2000 - ANSWERS-$4000
Who overhears the first meeting concerning a complaint filed against a real estate licensee?
General Counsel
Enforcement Division
Administrator
Broker and Mediator - ANSWERS-Administrator
When an agent advertises property for sale in a magazine, the ad must include a description
with the:
