RE State Exam 4
Barbara, a Texas sponsoring broker for Longhorn Realty, paid Gwendolyn, a buyer, a portion of the commission Longhorn received from the sales transaction. This is known as ______.
A rebate
Someone whose license has been expired for between 91 days and six months may renew the license by paying TREC a fee. How much is the renewal fee in these instances?
Be subject to an additional late reporting fee of $66.
A broker acting as an intermediary violates TRELA when that broker treats either party to the transaction in what manner?
Dishonestly
What does the Texas No Call List allow consumers to do?
Have both their home and cell phone numbers removed from telemarketing lists
If an appliance is built in or permanently attached to the property, it's considered a/an ______ in the Property section of the TREC sales contract.
Improvement
What is the purpose of the Addendum for Back-Up Contract?
It allows the seller to contract with two buyers, so that if the first buyer backs out, the back-up buyer moves into first position.
In instances where the buyer isn't requesting subdivision information, but the title company is, who pays to obtain the information per the Addendum for Property Subject to Mandatory Membership in a Property Owners Association?
It depends
TREC has established that two continuing education courses must be taken, and the remaining hours needed can be made up of electives. Eight of the mandatory 18 CE hours must be devoted to which two courses of study?
Legal updates I and II
The ESAC does which of the following?
Makes recommendations for improvements to real estate education
Which of the following is the duty of the State Office of Administrative Hearings at a hearing of an alleged violator?
Making findings of fact and conclusions of law
In order for a lease for real estate to be enforceable, it must be in writing and signed by the person to be charged with the promise/agreement, or by someone who is legally authorized to sign for that person. This requirement applies to a lease with a term of ______.
More than one year
Valentina is in the process of completing a sales contract for the purchase of a home in Texas. She has requested that her broker, Robert, provide legal counsel as she's new to the U.S. and wants to ensure her complete understanding of the home buying process. When is it appropriate for Robert to provide legal counsel to Valentina?
Never
Nick, a Texas license holder, is helping his son, Peter, locate a home he can afford to buy and is acting as Peter's agent. Peter has found a property that he wants to make an offer on. Which of the following statements regarding this situation is true?
Nick is required to disclose his relationship to the seller in writing prior to the parties entering into the contract.
Meredith is a mother of five children, two of whom are age 18 or older. What is the minimum number of bedrooms she's allowed to rent, according to the occupancy standards under the Texas Landlord and Tenant Act?
One
Which of the following statements about being able to sue for unpaid but owed compensation for real estate services rendered is true?
Only a licensed real estate broker or sales agent may sue to collect commissions.
As an unlicensed assistant in Texas, which of the following activities may Aaron legally perform?
Placing an advertisement
When multiple offers are received, Texas licensees should do which of the following?
Present all offers
Which types of forms are the Property Located Seaward of the Gulf Intracoastal Waterway and the Coastal Area Property?
Promulgated Addenda
Texas license holder Norman is meeting with prospective buyer clients, Andy and Sandy Silk, for the first time. Before Norman and the Silks enter into a buyer agency relationship, what is Norman required by Texas law to do?
Provide the Silks with the Information about Brokerage Services form.
Hank is a Texas real estate licensee working for an investor. Which of these actions is he prohibited from performing?
Recommend a specific investment.
Which licensee is exempt from liability under the 2011 amendment to the DTPA?
Samuel, who accidentally advised his client to do something that was incorrect.
The Addendum for Coastal Area Property and the Addendum for Property Located Seaward of the Gulf Intracoastal Waterway include notices required by the ______.
Texas Natural Resources Code
Real estate licensees in Texas need to pay attention to updates from what agency, which is responsible for enforcing Texas Fair Housing Law?
The Texas Workforce Commission Civil Rights Division
Donald Lee's best friend, Jake, is helping him look for a house. It just so happens that one he listed just yesterday might be the perfect fit for Donald and his girlfriend. Can Jake show a house that he has listed with another client to his new client and friend Donald?
Yes, Jake will need to follow all of the requirements to act as an intermediary.
Which of the following statements about agency by ratification in Texas is true?
Agency by ratification is permitted in Texas.
Carl is a sales agent who works under the supervision of a broker. Which of the following is true?
Carl can be either an employee or an independent contractor.
Per the Texas statute of frauds, a contract for the sale of real estate is only enforceable if it is in writing and ______.
Signed by the person to be charged with the promise/agreement
In situations where a coastline property owner has been forced to remove their home by the state of Texas because the property is now located on public beach property, who or what entity covers the cost of removal?
The property owner is solely responsible for the cost of removal.
Which of the following documents insures the buyer against loss because of title issues and must be furnished by the seller to the buyer?
The title insurance owner's policy
What is the purpose of the Addendum for Property Subject to Mandatory Membership in a Property Owners Association?
To give buyers the opportunity to request subdivision information