TREC Flashcards
TREC Stands for Texas Real Estate Commission Y/N
Y
What year was TREC Established
a 1941
b 1945
c 1949
d 1951
c 1949
How does Texas protect Consumers?
A TRELA
B TREC
C Fair Housing Act
D Civil Rights Act
B TREC
True of False
Members of TREC are made up of 9 Members. 6 brokers & 3 public,
True
True of False, TRELA Administers TREC
T
True of False TREC members serve 4 year staggered terms.
False, members serve 6-year staggered terms
Who appoints the TREC members?
A The Attorney General
B Governor
C Poice Chief
D State Trooper
B Governor
True or False the all of the following must be licensed in Texas.
Real Estate Brokers and Sales Agents (real estate brokerage)
Real Estate Inspectors
Education Providers for Real Estate and Inspection courses
Residential Service Companies (home warranty companies)
Timeshare Developers
Easement or Right-of-Way (ERW) agents
True
True or False
Real Estate is defined as Land, plus all manmade permanent improvements, buildings. Anything man can add and is permanently installed
True
True or False
Real Property is defined as Land plus all manmade permanent improvement and the Bundle of rights that comes with ownership
True
Real Estate is Conveyed by
A bill of sale
B sales contract
C Equitable Title
D by Deed
D by Deed
Personal Property is defined as Chattel (anything that is movable) and is transferred by
A Deed
B Sales Contract
C Bill of Sale
D Equitable Title
C Bill of Sale
True or False
Condemnation process or act of changing land from private to public
True
True of False Eminent Domain is the RIGHT of Gov to take privately held property and turn it into public use
True
True or False Land us is determined by Zones
True
True or False Public Gov Control is called Police Power
True
True or False Zones are enforced by Police Power
True
True or False, Private Gov Control is through Deeds Restrictions
True
True or False Deed restrictions are determined by the developer or local government.
True
True or False Deed restrictions are what you can do on your property.
True
True or False Zoning Permits are tools to enforce zoning codes and ordinances
True
True or False a variance can be requested when wishing to deviate from zoning.
True
True or False Residential Leases do not allow Leaseholders the right to change fixtures and if they do the fixtures legally stay wit the home
True
True or False Commercial fixtures or trade fixtures installed by tenant remain with the A tenant who leases the space
True
Test of trade fixture annexation include
A fitness or adaptation to the property
B Intention of the parties
C Method of annexation installing or uninstalling (glue, nails, screws
D All of the above
D All of the above
True or False the purpose of a Homestead is to keep your property from being given to a creditor or payment.
True
True of False urban homestead must be 10 contiguous acres
True
True or False Rural Homestead can be 100 acres for a single or 200 acres for a married couple
True
Monthly payments include
A Principle & Interest
B Taxes
C Insurance
D All of the above
D All of the above
Homeownership deductions include A Interest B Property Tax C Principle D A & B
D A & B
True of False CLUE stands for comprehensive loss underwriting exchange
True
True or False Agency = Relationship with a client and requires two parties
True
True or False Principal or Client with Agent (broker or the salesperson)
True
Discrimination is resolved
A Texas Workforce Commission which may tip off the TREC
B US Dept of Housing and Development Federal Crimes of Discrimination
C Local Court
D A & B
D A & B
True or False disability is defined as
- Physical, mental impairment
- Record of the impairment (legal or medical)
- Being Regarded as having a disability
True
A service animal can be
A Dog
B Cat
C Miniature horse
D A and C
D A and C
A service animal can be and must have proper documentation
A Dog
B Cat
C Miniature horse
D A and C
D A and C
True or False Exempt from Fair Housing
Owner-occupied
Club member
Religious
True
Ture of False TRELA or Texas Real Estate Licensing Act requires 180 Classroom hours = to 12 semester hours minimum
True
Ture of False TRELA was originally called the Dealer Act of 1939
True
True or False in 1949 TRELA as established and now TREC enforces the rules.
True
First Renewal at 2 years, SAE (Sales, Apprentice, Education) including 98 hours of education including
A 3 x 30 courses
B 2 4 hour Legal 1 & 2
C more time for will cost $200 for 60 days
D all of the above
D all of the abov
True or False Continuing Education is a 2-year renewal.
Salespersons require 18 hours
Brokers require 18 hours
True
True or False The following are exempt from holding a real estate license Attorney Public Official Auctioneer w/broker at the sale Builder Representative Onsite apartment manager Hotel or Motel Cemetery Plot salesman
True
True or False All TREC members must be a registered voter
True
True or False Broker-Lawyer Committee includes 13 Members 6 broker 6 lawyers 1 public Appointed by gov 6-year staggered terms Draft and revise all of the contracts and addenda used by all
Promulgate and for all to use
True
True or False, Residential Rental Locator must
All RESIDENTIAL RENTAL LOCATOR agents must display their license at all times
True
Physical Characteristics of Real Estate include:
A immobile
B Indstructable
C Non Homogeniety
D all of the above
D all of the above
Economic characteristics of Real Estate includes
A Scarcity
B Improvement & Permanent Investment
C Situs
D all of the above
D all of the above
True of False Principle of Supply and Demand determine inventory
True
True or False Water Accretion land increased due to water
True
True or False Alluvion Land that has been created by accretion
True
True or False Reliction is the dryland that results when water withdraws
True
True or False Avulsion sudden loss of land by the action of water
True
True or False Erosion Slow loss of land due to the water wearing
True
True or False A township survey is defined as 36 sections / 36 sqr miles. A section equals 640 Acres, 1 section equals 1 sqr mile
true
True or False one acre equals includes 43560 sq ft.
True