TX REAL ESTATE EXAM SAMPLE

The condition which allows a property owner to convey a right to another party while retaining full legal title is

In order for a tenant to claim relief for constructive eviction

G borrowed $15,000 with 11% interest rate. If G paid all the interest & amount borrowed with a single payment in 16 mos:

The provision in a mortgage/deed of trust that gives lender the right to call the entire balance due upon default

A geographic region in which similar properties compete with the subject property for potential buyers is called a:

A buyer contracts to purchase a single-family home. Buyer didn't receive Seller's Disclosure before signing the contract

In absence of an appraisal report, which is the MOST appropriate for setting a listing price in a new neighborhood

Right of local government officials to acquire title to real estate for public purposes by condemnation is based on

If a buyer makes 20% down payment & obtains a $75,000 mortgage, what is the sales prie of the property

A buyer's interest in real property, acquired the moment the seller & buyer enter into a sales contract is known as:

As a marketing promotion a real estate salesperson offers property for sale by lottery. This practice is:

Which of the following statements about the law of agency is CORRECT?

Who can pay money to a licensed salesperson to perform sales activities for a house a broker has listed for sale

Property is located in a service area of a water supply corp. Seller fails to give buyer written notices required by law

Which of the following acts is illegal under Federal Fair Housing law

Under exclusive right-to-sell listing, broker has the authority to take the following actions on seller's behalf

Who is responsible to TREC, the public, and the clients for the act of a sales person

The acuisition of another's title to real property by means of open, notorious, and continuous use is known as an

Broker leases 1,200 sqft space at $6 per sqft per yr. The broker's commission is 8% of 1st yr rental income which is:

Agent is showing a home built in 1972 to buyers who notice paint flaking on the woodwork. How should the agent proceed?

The commission earned by a listing broker on a sale of property is established by

A broker lists a property, prosect buyer tells broker he's heard crime rate is increasing. What's the broker's response

Under a commercial lease a tenant agrees to pay $4k per mo. plus 3% of gross monthly sales. This type of lease is called

An individual is exempt from real estate licensure in Texas when performing which of the following activities

What information is in the written statutory statement a licensee MUST provide to consumers at 1st face-to-face meeting

The appropriate time for a selling broker to explain the agency relationship to a prospective buyer is:

To be eligible for a real estate license an individual MUST:

Absent an agreement, spouse's rental income from separate proerty is

According to TRLA of Texas which one of the following actions is a fair & impartial act for intermediary?

When the association of a salesperson with the sponsoring broker is terminated, the broker MUST

The price for which a property will sell if offered openly under normal condition is known as

Which of the following factors would be included in the description of replacement cost

A free-standing appliance is sold separately from a real estate transaction, the seller should furnish the buyer with

A lender's title policy wil protect the

Which type of developments allows fee ownership of individual units with joint ownership of common areas

To determine a property's net operating income, which of the following fee is subtracted from effective gross income

Combining a principal's funds with the licensee's personal fund is

Value placed on land/buildings by a governmental unit for use in levying annual real estate taxes is called

A broker who enters into a property management contract is considered a:

A special warranty deed provides

A single woman dies intestate. In regards to her surviving heirs, her property will

A percentage lease would MOST often be used for tenants in

A lone that provides for increases & decreases in the interest rate during its term is known as

For a brokerage to represent both the buyer & seller in a real estate transaction the brokerage needs the permission of

When MUST an existing agency relationship be disclosed to another party to a proposed transaction

The agency that enforces Comprehensive Environmental Response Compensation & Liability Act (owner dumps waste)

When negotiating contracts binding the sale/lease of property an agent MUST use TREC promulgated form unless

A standard contract form has been developed for

Buyer purchases furnised condominium for investment. What document evidences the buyer's ownership of the furniture?

Purchased a lot for $10,500 & sold a year later at a loss of 20%. If owner paid 10% commission what was the net loss