Ch.7 Texas Real Estate License Act

Question 1

The purpose of the Texas Real Estate License Act is to:

Answer 1

Protect the general public from unscrupulous brokers and salespeople

Question 2

The Texas Legislature granted TREC the authority to enact rules and regulations that have the full force and effect of the law and to advise with reference to these rules and laws.
T or F

Answer 2

True

Question 3

In order to obtain a Texas Real Estate License, an applicant must be a citizen of the United States.
T or F

Answer 3

False

Question 4

A broker Can only represent a seller or a buyer, but not both in the same transaction.
T or F

Answer 4

False

Question 5

A broker is a person who, for compensation:
A. Sells, exchanges or leases real estate property
B. Lists or attempts to list real estate for sale, lease or exchange
C. Controls the acceptance or deposit of rent from a resident of a single -family property unit
D. All of the above

Answer 5

D

Question 6

A person who offers, for consideration, to locate a unit in an apartment complex for lease to a prospective tenant is known as a:

Answer 6

Residential rental locator

Question 7

The number of hours required for a broker or sales agent license is established by the:

Answer 7

State legislature

Question 8

A subagent is a license holder who:
A. Represents a principal through cooperation with and the consent of a broker representing the principal
B. Is not sponsored by or associated with the principal’s broker
C. Both a and b
D. None of the above

Answer 8

C

Question 9

Sarah gets a job as a sales representative for Galaxy Custom Homes. She will be working in the new Galaxy model home park, and will be limited to selling Galaxy homes only. Sarah will:
A. Need to be become a licensed real estate broker
B. Need to become a licensed real estate sales agent
C. Be exempt from the requirement to be licensed

Answer 9

C

Question 10

Mark here a new job as a petroleum land man, and will be securing leases for a variety of oil and gas companies. Before Mark Can begin work, he must obtain a valid real estate license.
T or F

Answer 10

T

Question 11

Julie’s is licensed attorney in Louisiana. She wants to be paid a commission to represent/negotiate on behalf of a purchaser of real estate in Texas. Can Julie do this? How?

Answer 11

Yes, but only if she obtains a Texas Real Estate License

Question 12

The provision of the License Act that could potentially abolish the Texas Real Estate Commission is the:

Answer 12

Sunset Act

Question 13

The Texas Real Estate License Act is part of the:

Answer 13

Occupation Code