PRINCIPLES OF REAL ESTATE I SCENARIO #1

6. If Jan becomes a residential rental locator (apartment locator): A. Her license will be displayed in her office by her sponsoring broker B. She will not need a sponsoring broker C. She can never do sales D. All of the above

A. Her license will be displayed in her office by her sponsoring broker TRELA requires locator offices to display licenses, but sales offices do not need to display.

4. In Subchapter N, Jan learns if she offers to sell or lease real property without the knowledge and consent of the owner of the real property, the Commission may A. Suspend or revoke her license B. Send her to jail for 10 years C. Fine her $10,000 D. Do nothing

A. Suspend or revoke her license Jan must have permission from the owner before she offers property for sale or lease.

8. The Termination paragraph in the TAR Independent Contractor Agreement for Sales Associates is paragraph: A. 1 B. 21 C. 11 D. 14

B. 21 Paragraph 1 is Parties. Paragraph 11 is Ownership of Listing and Representation Agreements Paragraph 14 is Advertising

According to Subchapter K of TRELA, If Jan Cose to work as a right-of-way agent she could have: A. A license issued under Ch. 1101 B. A certificate of regulation issued under Ch. 1101 C. Both A and B D. None of the above.

B. A certificate of regulation issued under Ch. 1101 A right-of-way agent is required to have a certificate issued by TREC or a real estate license. If they want to do any other type of transaction they will need the license.

5. After Jan has been an active salesperson for 4 years, she becomes a broker and has several sponsored salespersons. She must do CE. Subchapter I requires: A. She does 30 classroom hours of education every year B. Her to have at least six classroom hours of broker responsibility education C. No continuing education for a broker D. To take another state test

B. Her to have at least six classroom hours of broker responsibility education Any broker who sponsors salespersons is required to have a broker responsibility class when their license is renewed.

7. What did Jan learn about the state exam? A. The test for a broker has 120 questions B. The test for a salesperson has 110 questions C. The applicant must pass the test no later than one year after the license application is filed D. All of the above

B. The test for a salesperson has 110 questions Jan must pass both portions of the test in order to obtain a license. The national portion has 80 questions and the Texas portion has 30 questions for a salesperson license.

9. Paragraph 11 of the TAR Independent Contractor Agreement states that all listings, representation agreements, commission agreements, and other agreements for brokerage services in which Broker is named as a part are owned by: A. The buyer B. The seller C. The broker D. The salesperson

C. The broker All listings and buyer's agreements are taken in the name of the sponsoring broker and belong to the broker.

If Jan's broker's license is suspended or revoked, Jan: A.Cannot do any real Estate transactions until she chooses a new broker B. Will have an invactive license until she has a new sponsoring broker C. Can Obtain a new sponsoring broker immediately. D. All of the above

D. All of the Above All listing, buyer's representation agreements, and property management agreements are taken in the name of the broker and come to an end when the broker no longer has a license.

When Choosing a sponsoring broker, you should consider all of the following except: A. Training B. Commission Sprit C. The Size of the Company D. Car Ownership

D. Car Ownership Most important is training