TX Legal Update I (2024-2025) Final Exam

Which TREC advisory committee makes recommendations to the Commission regarding curriculum standards, course content, and instructor qualifications?

Education Standards Advisory Committee

Sales agent Felix is concerned that his buyers won't feel comfortable in a particular neighborhood, so he excludes houses in that area when showing them property. What is this an example of?

Steering

Under the FHA a person with a disability is defined as an individual who has a physical or mental condition that ______.

Substantially limits one or more major life activity

What is the most important reason a license holder should understand discrimination and fair housing history, laws and trends?

To uphold fiduciary responsibility and duties owed to clients, customers, and the public

What is "appraisal bias"?

Undervaluing homes in marginalized communities and neighborhoods

Which of the following would be considered a reasonable accommodation of an apartment building's policy?

Waiving a no pet policy so a veteran may have their assistance animal live with them

Which of the following is NOT a protected class according to the Fair Housing Act?

Age

What is the purpose of the Broker-Lawyer Committee?

Draft new and revise existing contract forms for use by license holders.

The Civil Rights Act of 1968 is also known as the ______.

Fair Housing Act

This occurs automatically as the brain makes judgments based on past experiences, education, and background:

Implicit bias

Which of the following is a best practice for license holders as it relates to fair housing?

Informing a client of all housing available that satisfy their criteria

SB 1577 exempts a business entity from licensure if it is an LLC or S corporation that ______.

Is established for the sole purpose of receiving commissions earned by a license holder

The "Required Notices" section in Paragraph 6 of the One to Four Family Residential Contract (Resale) was revised to create a place to ______.

List a PID or MUD notice

TREC rule 535.157

Obligation to Respond Timely] requires brokers and sales agents to respond to their client, a broker or sales agent representing another party to a real estate transaction, or an unrepresented party to a real estate transaction within how many days? [Two calendar days

Paragraph 7F (Completion of Repairs and Treatments) of the One to Four Family Residential Contract (Resale) was revised to require the seller to:

Provide the buyer with documentation from the entity contracted to complete the repairs that includes the scope of work performed and the payment received

According to TREC rule 535.2(i)(5), a broker must provide coaching and training to a sponsored sales agent:

The first three times they engage in a new type of brokerage activity