STATE PRACTICE EXAM (6)

Non-resident broker Jeremy doesn't maintain a place of business in Texas, even though he practices real estate in Dallas. Which of the following is true of this situation?

A non-resident licensed broker isn't required to maintain a place of business in Texas. $

Which of the following is true regarding the 2011 amendment to the DTPA?

It helps prevent frivolous lawsuits against real estate licensees. $ The 2011 amendment to the DTPA helps prevent frivolous lawsuits against licensees by exempting them from liability for innocent omissions, or for providing advice, guidance, or opinion unless they intended to deceive or commit fraud.

Consuela is selling the family farm, but she has a significant investment in the cotton crop she has already planted. Which of the following is a true statement?

She needs the buyer's permission to harvest the crop after closing. $ The seller can also reserve the right to come back and harvest for as long as the buyer agrees to this in writing.

TREC is charged with passing rules to enforce, interpret, and explain the provisions of which of the following?

Texas Real Estate License Act $

What's the purpose of the Special Provisions paragraph of the One To Four Family Residential Contract (Resale)?

To clarify facts found in the contract $ This section may be used to clarify facts of the contract. It's not to be used in place of a promulgated form, if one exists to cover the situation.

The Environmental Assessment, Threatened or Endangered Species, and Wetlands addendum specifies which type of assessment the buyer wants performed and what else?

The amount of time the buyer has to terminate the contract if the report(s) find conditions that will adversely affect how the property can be used. $