Module 5 Section 1 Flashcards
a person who is training under the direct supervision of a professional inspector or real estate inspector to become qualified to perform real estate inspections.
a. professional inspector
b. licensed inspector
c. apprentice inspector
apprentice inspector
a person who, in exchange for a commission or other valuable consideration, performs for another person one of the following acts: sells, exchanges, purchases, or leases real estate, etc.
a. broker
b. agent
c. banker
broker
Texas Real Estate Commission, also known as:
a. Texas Real Estate
b. Commission
c. Agency
Commission
Texas Real Estate Inspector Committee also known as:
a. Committee
b. Agency
c. Brokerage
Committee
educational course approved by the commission that relates to real estate inspection, including a course on structural items, electrical, mechanical systems, plumbing, roofing, business law, standards of practice, report writing, appliances, or ethics:
a. Core Inspection Training
b. Core Inspectors Training Program
c. Core Real Estate Inspection Course
Core Real Estate Inspection Course
person who holds a license under this chapter
a. Inspector
b. Broker
c. Real Estate Agent
Inspector
apprentice inspector license, real inspector license, or professional inspector license
a. License
b. Certified
c. Official
License
person who represents to the public that the person is trained & qualified to perform a real estate inspection & who accepts employment to perform a real estate inspection for a buyer or seller of real property
a. Agent
b. Broker
c. Professional Inspector
Professional Inspector
written or oral opinion as to the condition of the improvements to real property, including structural items, electrical items, mechanical systems, plumbing, or equipment
a. Conditions Inspection
b. Real estate inspection
c. Contractual agreement
Real estate inspection
person who represents to the public that the person is trained & qualified to perform a real estate inspection under the indirect supervision of a professional inspector & who accepts employment to perform a real estate inspection for a buyer or seller of real property
a. Real estate broker
b. Real estate professional
c. Real estate inspector
Real estate inspector
a person who is sponsored by a licensed broker for the purpose of performing an act described by Subdivision (1)
a. Mortgager
b. Salesperson
c. Broker Representative
Salesperson
Are legible fingerprints required by the commission to apply or renew a license under the chapter?
Yes/No
Yes
Liability insurance must be maintained at a minimum limit per occurrence of what amount?
a. $100,00
b. $150,000
c. $200,000
$100,000
Who can recommend rules for licensing inspectors in the state including rules to examination, education, & continuing education?
a. Texas governing commission
b. The Committee
c. Real Estate Inspectors Group
The Committee
Does Chapter 1102 outline license requirements for professional inspectors?
Yes/No
Yes
Can the commission refuse to issue a license or renew the license of a person who does not comply with the requirements?
Yes/No
Yes
Minimum frequency of exams offered by commission
a. once every 2 weeks
b. once every month
c. once every 2 months
once every 2 months
time length granted to satisfy examination requirements once an application is submitted
a. before the 1st anniversary
b. 1.5 years
c. 2 years
before 1st anniversary
What date will the commission notify results to an examinee after they took the exam?
a. 1 weeks
b. 2 weeks
c. 30th day
30th day
By what date will the commission notify results to an examinee after the commission receives the results from a national service?
a. 7 days
b. 14 days
c. 21 days
14th day
How much does a person pay to renew a license that has been expired for less than 90 days?
a. .5 times the fee
b. 1 times the fee
c. 1.5 times the fee
1.5 times the fee
How much does a person pay to renew a license that has been expired for more than 90 days, but less than 6 months?
2 times the fee
May a license be renewed if it has been expired for 6 months or more?
Yes/No
No
If license has lapsed for more than 6 months, what must the licensee do?
submit to requirements for obtaining an original license, and/or re-examination
At the renewal, an applicant for a license must disclose what?
plea of guilty or conviction of a felony
required amount of continuing education per year of the license period preceding the renewal
a. 10 hours
b. 16 hours
c. 25 hours
16 hours
The _________collects & charges fees necessary to cover the cost of applications for licensing & examinations
The commission
An inspector may not perform a real estate inspection in what kind of manner?
negligent or incompetent manner
Can the fee for an inspection be contingent on reporting a specific, predetermined condition of the improvements to real property? Yes/No
No
Can specific findings other than those that the inspector knows to be true reported for a fee? Yes/No
No
What does the commission maintain in order to reimburse aggrieved persons who suffer damages from an inspector’s act in violation of Subchapter G?
a. Real Estate Inspector Recovery Fund
b. Commission Recovery Fund
c. TREC Recovery Fund
Real Estate Inspector Recovery Fund
The dollar amount to not be exceeded in payment by a person who passes a license examination
a. $100
b. $200
c. $300
$200
The amount in which additional payments from inspectors are required to bring the balance back to $450,000
$300,000
Can the Real Estate Inspector Recovery Fund be invested as long as it doesn’t impact the ability to make payment for claims? Yes/No
Yes
Who must notify the commission in writing when an aggrieved person brings an action for judgment against an inspector in which the fund may make payment?
a. Broker
b. Inspector
c. Commissioner
Inspector
Who orders the commission to make payment for the fund?
the court, once a judgment is ruled upon
Max amount paid from the fund for a single claim inclusive of court costs & attorney fees, regardless of the number of claimants
a. $12,500
b. $15,000
c. $20,000
$12,500
Max amount paid from fund for a single inspector’s judgment
a. $10,000
b. $20,000
c. $30,000
$30,000
The ____________ may investigate the actions of an inspector & reprimand the inspector?
The commission
Can an administrative penalty be imposed on an inspector for violating rules adopted under Chapter 1102 or Chapter 1101? Yes/No
Yes
