Cram Exam

Question 1

Tort Liability

Answer 1

Intentional and unintentional injuries to clients

Question 2

Avoidance

Answer 2

If a licensee injures a client with a tort liability, the client can refuse to pay a commission

Question 3

When listing property with multiple owners, a licensee does not have to do which of the following

Answer 3

Contact all owners equally

Question 4

Promissory Estoppel

Answer 4

When a court orders a party to uphold a verbal contract

Question 5

Usually exempt from continuing education requirements

Answer 5

Brokers licensed prior to October 31, 1991

Question 6

What is the statute of limitations for a written real estate contract in the State of Texas

Answer 6

4 years

Question 7

Within the State of Texas, where can you find the Statute of Frauds

Answer 7

Uniform Commercial Code

Texas Commerce Business Handbook

Question 8

Under Texas regulations, which of the following can cause civil action in the absence of a written contract

Answer 8

Promissory Estoppel. Promissory estoppel is when an agent acts without authority. This can cause civil action by all involved principals.

Question 9

When TREC issues an order for a hearing to a licensee, TREC must give how many days notice

Answer 9

14 days

Question 10

Intermediary

Answer 10

An intermediary cannot represent either party. The intermediary must be impartial. Written consent must be given by the involved principals

Question 11

What is the maximum fine amount charged as a penalty against a licensee for one offense?

Answer 11

$5,000

Question 12

Under Texas community property laws, when the 1st spouse dies…

Answer 12

50% of the property can be passed by will to heirs