Chapter 7 Quizes

Question 1

TRELA states: An applicant must satisfy the examination requirements not later than one year after the date the license application is filed.

A. True

B. False

Answer 1

A. True

Question 2

A real estate salesperson may elect to remain inactive for:

A. Two years

B. Indefinitely

C. Five years

D. Ten years

Answer 2

B. Indefinitely

Question 3

If a license holder fails to comply with a subpoena, what can TREC do?

A. Contact the broker’s attorney directly

B. File a suit through the Lt. Governor’s office

C. File a complaint with the Better Business Bureau

D. File a suit through the Attorney General’s office

Answer 3

D. File a suit through the Attorney General’s office

Question 4

Which one of the following is NOT a TREC authorized broker act?

A. The broker is required to supervise the sales agents directly.

B. A broker is required to notify a sponsored sales agent in writing of the scope of the sales agent’s authorized activities under the Act.

C. A broker must have policies and procedures in place to ensure the sales agent is competent to conduct authorize acts.

D. Broker must provide proper training before authorizing the acts of the agent to sell, purchase, or lease.

Answer 4

A. The broker is required to supervise the sales agents directly.

Question 5

Which of the following activities is NOT part of the Salesperson/ Broker relationship?

A. If a broker’s license is suspended or revoked, all licensees sponsored by the broker become inactive.
B. An agent can change brokers at any time.
C. An agent is considered inactive until he/she has a sponsoring broker.
D. Brokers do not provide training as most agents are independent contractors.

Answer 5

D. Brokers do not provide training as most agents are independent contractors.

Question 6

What is the purpose of the Real Estate Recovery Fund?

A. To allow agents to recover their application fees and state licensing exam fees

B. To pay aggrieved persons who have suffered a loss due to the acts of a real estate agent or broker

C. To supplement licensees who have a complaint against a client

D. To give consumers a way to collect damages without going to court

Answer 6

B. To pay aggrieved persons who have suffered a loss due to the acts of a real estate agent or broker

Question 7

What is the requirement for SAE renewals?
A. You must have a total of 270 qualifying real estate course hours, 4 hours of TREC’s Legal Update I, and 4 hours of TREC’s Legal Update II posted to your license record prior to submitting your renewal.
B. SAE must be completed within 2 years of obtaining a real estate license.
C. Both A and B
D. Neither A or B

Answer 7

C. Both A and B

Question 8

Which statement is NOT true regarding a cemetery?

A. An individual lot or plot can be sold without a real estate license.

B. A cemetery lot is considered to be real property.

C. Selling a cemetery as a whole requires a real estate license.

D. A cemetery is considered to be real estate.

Answer 8

B. A cemetery lot is considered to be real property.

Question 9

Which is Not true regarding becoming a broker?

A. To be eligible in Texas, you must have at least four years’ active experience as a licensed real estate sales agent or broker during the 60-month period preceding the filing of the application

B. You have one year from the date your application is filed to meet all license requirements.

C. An additional 630 classroom hours in related qualifying courses acceptable to the Commission or approved Continuing Education (CE) courses is also required.

D. Your experience must total 2600 points and be reported on the Qualifying Experience Report for a Broker License.

Answer 9

D. Your experience must total 2600 points and be reported on the Qualifying Experience Report for a Broker License.