Missed questions of Course 1 practice test

What age does a person become edible for real estate licensure?

18

Fee Simple Defeasible

A qualified fee estate that is subject to the occurrence or nonoccurrence of some specified event.

Right of access to a landlocked parcel

Easement by necessity

What type of lien is defined as an involuntary lien placed on all of the property received by a deceased person's heirs?

Estate Inheritance Lien

The maximum possible estate or right of ownership of real property, continuing forever.

Fee simple absolute

ownership that is subject to a condition or trigger event

Fee simple conditional

An estate carrying the limitation that, if it is no longer used for the purpose conveyed, it reverts to the original grantor by the right of reentry.

Fee simple subject to a condition subsequent

Title to real property that is absolute and unencumbered.

Free and clear

The charge upon the land of a debtor, resulting from the decree of a court, entered in the judgment docket. Lawsuit

Judgment Lein

Which of the following legal descriptions is not used in Texas?

Rectangular government survey

Generally speaking, all Texas brokers have a responsibility to _____ trust funds.

Safeguard

If a private individual owner doesn't own more than three single-family homes at one time, which exemption form the Fair Housing Act could apply?

Single-family housing sold or rented without the use of a broker.

Texas resident Sonny, who doesn't have a real estate license, helps his brother's neighbor, Nicole, sell her house. He charges her a commission of 3,000, which she happily pays. Which of the following is true in this situation?

Sonny committed a misdemeanor a have to pay administrative and civil penalties.

What is the source of law for real estate license laws?

State laws and regulations

In Texas, real estate licensure applicants can be rejected for several reasons, including failure to satisfy a current education, experience, or exam requirement within what time period from the application filing date.

Twelve months (1 year)

Regarding the need for consent for a contract to be valid, which of the following exists when an act of persuasion overcomes another person's free will and judgement.

Undue Influence

In a contract, the element of consent is also called____.

Voluntary agreement

When does express agency exist?

When written and oral agreement is in place

Applicants must register and take the Texas real estate licensing exam when?

Within one year from the date their application was filed

Over which of the following areas do local authorities have no police power.

Deed restrictions

Mavis plans to file a lawsuit under the DTPA. How many days prior to filing the lawsuit is Mavis required to send written notification to the licensee that she is suing him for damages?

At least 60 days.

TREC has a great deal of authority. In addition to enforcing the provisions of TRELA, TREC also has the authority to ______.

Bring legal action and file criminal charges against a person who violated TRELA

Clarissa, your client, is a traveling salesperson. What type of housing would she likely prefer?

Condominium, for its easy living.

In the real estate business, whose primary role is to perform a visual inspection of a property's structure, systems and cite conditions?

Home inspector

An exemption to the Federal Fair Housing Act for an owner occupied dwelling of four units or less provided the owner occupies one unit, does not use discriminatory advertising, and does not use real estate agent.

Mrs. Murphy exemption

A seller was selling his house to a buyer and decided to remove the shrubs and flowering plants. The buyer expected these plantings to be considered part of the real property because of the ____

Method annexation

The broker agrees to sell the property in order to achieve a net price to the owner, and anything which is received above the net price is the broker's commission. A net listing is prohibited by the licensing law in many states.

Net Listing

Does an onsite manager of an apartment complex in Texas need a real estate license?

No, a real estate license is not required

Jared, a seller, has found his own buyer and wants to terminate his exclusive right-to-sell listing agreement with Sue, his listing broker. Can he do so without penalty?

No, because listing agreements may not be terminated until they expire.

Can a real estate licensee that has been expired for more than six months be renewed in Texas?

No, the license holder must apply for a new license.

PID assessment must provide a disclosure about this to prospective buyers before a sales contract is effective.

Notice of obligation related to public improvement district

The substitution, by agreement, of a new contract for an old one, with the rights under the old one being terminated.

Novation

If a Texas licensee is found guilty of a fair housing violation, the________ could also award monetary damaged to the complaint.

TWCCRD

Which one of the following types of ownership termination allows each tenant to have a specific divided portion (partition) of the property exclusively?

Termination of co-ownership by partition

Which one of the following types of ownership termination allows each tenants to have a specific, divided portion (partition) of the property exclusively?

Termination of co-ownership by partition

The ESAC makes recommendations for improvements to real estate education to the ______, which is tasked with implementing the new standards.

Texas Real Estate Commission

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

Texas Real Estate License Act

If a Texas licensee is found guilty of a fair housing violation, the _______ could also award monetary damages to the complaint.

Texas Workforce Commission Civil Rights Division (TWCCRD)

What happens when a municipality completes and "in rem" foreclosure?

The municipality obtains title to the proeprty

What happens when a municipally completes an "in rem" foreclosure?

The municipality obtains title to the property.

Which of the following is true about net listing?

They often involve a conflict of interest.

Sheila owns a timeshare that gives her ownership of the property for a certain number of weeks per year in perpetuity. What type of timeshare is this?

Timeshare Estate

Pieces of real estate owned by multiple unrelated individuals who occupy the dwelling unit in one- to two-week intervals during the year.

Timeshare estate

The listing agent has offered Ricky or any cooperating agent additional compensation if the transaction closes within 40 days. Is this ethical?

Yes, but only if all the involved parties have full knowledge and priced consent.

Police power is the government's authority at what level(s)?

any level