Texas Real Estate Sales Agent License exam flashcards

All 94 questions

From the free lessons, each with its answer and why. The full course adds questions from every lesson.

Which description best defines a fixture?

An item that began as personal property and became part of the realty

A fixture starts as a chattel and becomes part of real property through annexation.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

Which set lists the commonly taught MARIA factors used to analyze fixtures?

Method of attachment, adaptation, relationship, intent, agreement

MARIA summarizes method of attachment, adaptation, relationship of the parties, intent, and agreement.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

Which term describes making a chattel part of the real estate?

Annexation

Annexation incorporates personal property into the realty; severance works in the opposite direction.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

For fixture analysis, which evidence best shows the relevant kind of intent?

The installation and surrounding circumstances showing an intended permanent use

Intent is evaluated objectively from circumstances rather than from an undisclosed personal wish.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

Which property best fits the general category of emblements?

An annual wheat crop produced by cultivation

Emblements are cultivated annual crops, such as wheat, rather than natural growth or farm structures.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

Which statement best distinguishes real property from the physical land alone?

Real property includes permanent attachments and associated ownership rights as well as land

Real property is broader than bare land: it encompasses permanent attachments and associated legal rights.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

Which pair correctly matches each process with its direction?

Annexation: chattel to realty; severance: realty to chattel

Annexation incorporates a chattel into realty; severance separates property from realty.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

Which fact most directly addresses the relationship factor in a fixture dispute?

Whether the installer is a tenant or the building owner

Relationship concerns the parties' legal positions, such as tenant and landlord or buyer and seller.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

Which statement best describes the right protected by the emblements doctrine in a qualifying case?

A right to return and harvest the cultivated annual crop after the tenancy ends

Emblements protect a qualified harvest opportunity, not ownership of the land or a general lease renewal.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

Which description identifies a trade fixture in the sense used in tenant removal analysis?

A tenant-installed item used in the tenant's business, with qualified removal rights

Trade fixtures involve tenant business installations and qualified removal rights, rather than all income-producing property.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

In the MARIA approach, which factor is most directly addressed by a signed term identifying an item the seller will retain?

Agreement

An express retention term is direct evidence of the parties' agreement about transaction inclusion.

Real property characteristics, legal descriptions, and property use · From Real versus personal property: fixtures, trade fixtures, and emblements

What does ownership in severalty mean?

Title is held by one owner.

Severalty means one owner holds title. The owner can be an individual or an entity.

Forms of ownership, transfer, and recording of title · From Forms of ownership: severalty, concurrent ownership, and ownership by entities

Which list contains the classic four unities of traditional joint tenancy?

Time, title, interest, and possession

The classic four unities are time, title, interest, and possession.

Forms of ownership, transfer, and recording of title · From Forms of ownership: severalty, concurrent ownership, and ownership by entities

Which process can end co-ownership by physically dividing the property or selling it and dividing the proceeds?

Partition

Partition ends shared ownership through division in kind or a sale and distribution of proceeds.

Forms of ownership, transfer, and recording of title · From Forms of ownership: severalty, concurrent ownership, and ownership by entities

A valid trust holds rental property. Which pairing correctly describes the trustee and beneficiaries?

The trustee holds legal title; beneficiaries hold beneficial interests.

A trust separates the trustee's legal title and administration from beneficiaries' beneficial interests.

Forms of ownership, transfer, and recording of title · From Forms of ownership: severalty, concurrent ownership, and ownership by entities

In a jurisdiction recognizing tenancy by the entirety, which description best identifies that form?

Marital ownership with survivorship and restrictions on unilateral transfer

Tenancy by the entirety is a marital concurrent ownership form with survivorship and limits on unilateral transfer.

Forms of ownership, transfer, and recording of title · From Forms of ownership: severalty, concurrent ownership, and ownership by entities

In the classic joint-tenancy framework, which unity concerns acquiring ownership through the same instrument?

Unity of title

Unity of title concerns acquisition through the same instrument. Time, interest, and possession address different aspects.

Forms of ownership, transfer, and recording of title · From Forms of ownership: severalty, concurrent ownership, and ownership by entities

Under Texas Estates Code section 111.002, which chapter governs spouses' agreements concerning survivorship in community property?

Estates Code Chapter 112

Section 111.002 excludes spouses' community-property agreements from section 111.001 and directs their survivorship agreements to Chapter 112.

Source: Tex. Est. Code § 111.002 ·Forms of ownership, transfer, and recording of title · From Forms of ownership: severalty, concurrent ownership, and ownership by entities

Which fact is essential to the marital ownership form called tenancy by the entirety in jurisdictions that recognize it?

The owners are married to each other.

Tenancy by the entirety is a marital ownership form. Corporate membership, unequal shares, and trust roles do not supply that relationship.

Forms of ownership, transfer, and recording of title · From Forms of ownership: severalty, concurrent ownership, and ownership by entities

Which description best defines market value?

The most probable price under normal market conditions as of a specified date

Market value is a supported opinion of probable price under specified market conditions and on a specified date.

Property value and appraisal · From Market value, market price, and the characteristics of value

Which combination creates effective demand for real estate?

Desire to acquire property and purchasing power

Effective demand combines desire with the financial ability to act on that desire.

Property value and appraisal · From Market value, market price, and the characteristics of value

Which transaction most closely fits an arm's length sale?

Unrelated, informed parties independently negotiate while pursuing their own interests.

An arm's length transaction involves independent parties pursuing their own interests.

Property value and appraisal · From Market value, market price, and the characteristics of value

Normal market-value assumptions include which condition?

The property has reasonable exposure to the market.

Reasonable market exposure is one of the usual assumptions underlying market value.

Property value and appraisal · From Market value, market price, and the characteristics of value

What does utility mean as a characteristic of real estate value?

The capacity of property to satisfy a need

Utility is usefulness, or capacity to satisfy a need.

Property value and appraisal · From Market value, market price, and the characteristics of value

Which statement best distinguishes market price from market value?

Market price is an observed transaction amount; market value is a supported opinion of probable price.

Price records an actual transaction, while market value estimates a probable result under normal conditions.

Property value and appraisal · From Market value, market price, and the characteristics of value

Which description defines transferability as a characteristic of value?

The ability to convey ownership rights

Transferability concerns conveying rights, rather than moving the land or financing its acquisition.

Property value and appraisal · From Market value, market price, and the characteristics of value

What does the S in DUST represent?

Scarcity

DUST stands for demand, utility, scarcity, and transferability.

Property value and appraisal · From Market value, market price, and the characteristics of value

What does cost describe in the distinction among cost, market price, and market value?

The amount spent to acquire or produce something

Cost records expenditures for acquisition or production rather than a probable market result or a seller's wish.

Property value and appraisal · From Market value, market price, and the characteristics of value

Which participant behavior fits normal market-value assumptions?

Informed buyers and sellers voluntarily pursue their own interests.

Normal market-value assumptions include informed, willing parties acting in their own interests without undue pressure.

Property value and appraisal · From Market value, market price, and the characteristics of value

In the definition of market value, which type of price is being estimated?

The most probable price under normal market conditions

Market value seeks the most probable normal-market price, not an extreme or an owner's recovery target.

Property value and appraisal · From Market value, market price, and the characteristics of value

Which feature makes an agreement express?

The parties state their agreement in words.

Express describes agreement communicated in spoken or written words.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

Which exchange defines a bilateral contract?

A promise exchanged for another promise

Bilateral contracts rest on reciprocal promises.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

Which feature distinguishes an implied in law obligation from an implied in fact contract?

It supplies a remedy against unjust enrichment rather than inferring actual agreement.

Implied in law, or quasi contract, is a remedial obligation rather than an actual agreement inferred from conduct.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

Which pair classifies how the parties communicate their agreement?

Express and implied in fact

Express versus implied in fact concerns words versus conduct showing agreement.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

What does “unilateral” identify in the classic contract distinction taught here?

A promise offered in exchange for requested performance

Unilateral concerns a promise for performance, not people, signatures, or bargaining advantage.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

What is the best meaning of “implied in fact” in contract classification?

An actual agreement inferred from conduct and circumstances

Implied in fact describes actual agreement evidenced by conduct rather than stated words.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

Which question best separates a bilateral offer from a unilateral offer?

Does the offer seek a return promise or the requested performance?

The requested form of acceptance distinguishes the exchanges.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

What is another name for an implied in law obligation?

A quasi contract

Quasi contract names the remedial implied in law concept.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

Which statement accurately relates the two classification pairs?

Words versus conduct and promises versus performance are separate inquiries.

Communication and exchange are independent dimensions of classification.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

What must conduct support before it can establish an implied in fact contract?

An inference that the parties mutually assented

An implied in fact contract requires actual mutual assent inferred from conduct and circumstances.

Real estate contracts and agency · From Types of contracts: express and implied, unilateral and bilateral

Which statement best describes professional competence in real estate brokerage?

It requires knowledge and skill suited to the particular assignment.

Competence is tied to the work being performed. A license or client consent does not supply missing knowledge or expand professional authority.

Real estate practice · From Practicing within the scope of expertise and the unauthorized practice of law

Under Texas’s competency rule, which knowledge is specifically relevant when providing brokerage services in a geographic area?

Local market issues and conditions affecting real estate.

Texas’s competency rule expressly requires familiarity with local market issues and conditions. Specialized legal, engineering, and tax conclusions are different professional tasks.

Source: 22 Tex. Admin. Code § 531.4(1) ·Real estate practice · From Practicing within the scope of expertise and the unauthorized practice of law

In Texas, which statement best describes the effect of an exception to the mandatory contract-form requirement?

It changes the form-use requirement without authorizing the practice of law.

Form-use exceptions and restrictions on practicing law are separate. An alternate permitted form does not enlarge the license holder’s legal authority.

Source: 22 Tex. Admin. Code § 537.11(a), (b) ·Real estate practice · From Practicing within the scope of expertise and the unauthorized practice of law

Before Texas principals execute a real estate instrument, what must the license holder advise them about the instrument?

That the instrument they are about to execute is binding on them.

Texas requires the binding-instrument advice. It is not an opinion certifying legal sufficiency or a reason to discourage counsel.

Source: 22 Tex. Admin. Code § 537.11(f) ·Real estate practice · From Practicing within the scope of expertise and the unauthorized practice of law

A Texas instrument must be acknowledged and filed of record. Under the form-use rule, what advice should the license holder give before execution?

Consult an attorney before executing the instrument.

The Texas rule expressly requires advice to consult an attorney before execution if the instrument must be acknowledged and filed of record.

Source: 22 Tex. Admin. Code § 537.11(e) ·Real estate practice · From Practicing within the scope of expertise and the unauthorized practice of law

Which attorney arrangement is expressly permitted by Texas’s contract-form rule?

The license holder hires and pays an attorney to represent only the license holder.

Texas permits counsel representing only the license holder. That is distinct from obtaining legal advice for a principal.

Source: 22 Tex. Admin. Code § 537.11(c)(3) ·Real estate practice · From Practicing within the scope of expertise and the unauthorized practice of law

Which topic falls within Texas’s express duty to keep informed as a brokerage practitioner?

National, state, and local issues and developments in the real estate industry.

Texas expressly requires awareness of national, state, and local real estate industry issues and developments. This is not authority for specialized legal or tax opinions.

Source: 22 Tex. Admin. Code § 531.4(2) ·Real estate practice · From Practicing within the scope of expertise and the unauthorized practice of law

A Texas license holder is negotiating for a client. An applicable TREC form is approved for mandatory use, and no exception applies. Which form should the license holder use?

The applicable mandatory TREC form.

Texas requires the applicable mandatory Commission form when no exception applies. Preference and familiarity do not create an exception.

Source: 22 Tex. Admin. Code § 537.11(a) ·Real estate practice · From Practicing within the scope of expertise and the unauthorized practice of law

Which construction date is the usual screening threshold for federal lead-based paint disclosure coverage?

Before 1978

The lead warning addresses dwellings built before 1978. Construction age screens for coverage; it does not establish the presence of lead.

Source: 42 U.S.C. § 4852d(a)(3) ·Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

For covered housing, which pair of transactions falls within the federal lead disclosure rule?

Sales and rentals

The statute requires lead information before a purchaser or lessee becomes obligated to purchase or lease target housing.

Source: 42 U.S.C. § 4852d(a)(1) ·Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

What is the default federal opportunity afforded a purchaser to conduct a lead risk assessment or inspection?

Ten days before becoming obligated, unless the parties agree to a different period

The statute gives a purchaser a 10-day opportunity before obligation unless the parties mutually agree on a different period.

Source: 42 U.S.C. § 4852d(a)(1)(C) ·Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

Which document feature is expressly required in a covered purchase-and-sale contract?

A Lead Warning Statement and the purchaser's signed acknowledgments

The contract must contain a Lead Warning Statement and the purchaser's signed statements acknowledging the warning, pamphlet, and inspection opportunity.

Source: 42 U.S.C. § 4852d(a)(2) ·Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

Which person has an express compliance-assurance role when hired by an owner to sell or lease target housing?

The owner's real estate agent

An agent engaged by a seller or lessor must ensure compliance on that owner's behalf.

Source: 42 U.S.C. § 4852d(a)(4) ·Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

Why is the lead warning especially concerned with young children?

Lead poisoning can cause permanent neurological damage and learning difficulties.

The statutory warning identifies permanent neurological damage, learning disabilities, and other serious effects in young children.

Source: 42 U.S.C. § 4852d(a)(3) ·Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

Which older dwelling is a standard exemption from the federal lead disclosure rule because of its bedroom configuration?

A zero-bedroom studio dwelling

Zero-bedroom dwellings are a standard exemption. Ownership form or rental status alone does not exempt the other dwellings.

Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

Which mental-state condition is stated in the statute's treble-damages provision?

The person liable must knowingly violate the statutory provisions.

The civil-liability provision applies to a person who knowingly violates the statute, with liability based on the injured individual's damages.

Source: 42 U.S.C. § 4852d(b)(3) ·Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

Which group, in addition to young children, is expressly identified in the statutory warning as facing particular risk from lead poisoning?

Pregnant women

The Lead Warning Statement specifically identifies particular risk to pregnant women.

Source: 42 U.S.C. § 4852d(a)(3) ·Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

A buyer prevails in a damages action under the lead disclosure statute. Besides damages, what may the court award under the statute?

Court costs, reasonable attorney fees, and expert witness fees

For a prevailing claimant, the statute permits court costs together with reasonable attorney fees and expert witness fees.

Source: 42 U.S.C. § 4852d(b)(4) ·Property disclosures and environmental issues · From Lead-based paint and the federal disclosure rule

Which instrument states the borrower's promise to repay a real estate loan?

Promissory note

The promissory note states the debt and repayment promise. Security instruments connect the debt to collateral.

Financing and settlement · From Methods and sources of financing: mortgage and seller financing, primary and secondary markets

Which description identifies the secondary mortgage market?

Investors buying existing mortgages and mortgage-backed securities

The secondary market trades existing loans and mortgage-backed securities, rather than originating borrower loans.

Financing and settlement · From Methods and sources of financing: mortgage and seller financing, primary and secondary markets

What distinguishes a conventional mortgage from federally insured or guaranteed mortgage financing?

It lacks federal mortgage insurance or a federal loan guaranty.

Conventional describes the absence of federal insurance or guaranty. Conforming status and whether the loan is sold are separate classifications.

Financing and settlement · From Methods and sources of financing: mortgage and seller financing, primary and secondary markets

What federal function characterizes FHA financing under the supplied mortgage statute?

Insuring qualifying mortgages

12 U.S.C. § 1709 authorizes insurance of qualifying mortgages. FHA financing is mortgage insurance, not a home purchase or grant program.

Source: 12 U.S.C. § 1709 ·Financing and settlement · From Methods and sources of financing: mortgage and seller financing, primary and secondary markets

Which description best matches the general federal support used in VA home-loan financing for eligible borrowers?

A Department of Veterans Affairs loan guaranty

VA financing generally uses a federal loan guaranty for eligible borrowers. This differs from FHA insurance and seller financing.

Financing and settlement · From Methods and sources of financing: mortgage and seller financing, primary and secondary markets

Which activity is associated with Fannie Mae and Freddie Mac in the lesson?

Purchasing eligible mortgages and supporting securitization

Fannie Mae and Freddie Mac support the secondary market by purchasing eligible mortgages and supporting securitization.

Financing and settlement · From Methods and sources of financing: mortgage and seller financing, primary and secondary markets

Which payment structure retires the entire loan balance by maturity through the scheduled payments?

Full amortization

Full amortization pays the debt off by maturity through scheduled payments. The other structures leave principal for a final payoff.

Financing and settlement · From Methods and sources of financing: mortgage and seller financing, primary and secondary markets

In a transaction using a mortgage, which pairing correctly identifies the parties?

Mortgagor: borrower; mortgagee: lender

The borrower gives the mortgage and is the mortgagor; the lender receives the mortgage security and is the mortgagee.

Financing and settlement · From Methods and sources of financing: mortgage and seller financing, primary and secondary markets

Which measurement describes the surface contained within a parcel's boundaries?

Area

Area measures the surface inside the boundaries. Perimeter, frontage, and depth are linear measurements.

Real estate math · From Area calculations: square footage and acreage

How many square feet are in one acre?

43,560

One acre contains 43,560 square feet. This is the area conversion factor, not a linear measurement.

Real estate math · From Area calculations: square footage and acreage

Which expression converts an area stated in square feet into acres?

Square feet ÷ 43,560

Divide square feet by 43,560 square feet per acre to determine acres.

Real estate math · From Area calculations: square footage and acreage

Which statement correctly describes an acre?

It is an area of 43,560 square feet without a required shape.

An acre is a unit of area equal to 43,560 square feet. It does not prescribe side lengths, perimeter, or shape.

Real estate math · From Area calculations: square footage and acreage

For triangle area, what does the height paired with a selected base measure?

The perpendicular distance from the opposite vertex to the line containing the base

The height is the perpendicular distance from the opposite vertex to the line of the selected base. A side length or an average of sides need not equal that height.

Real estate math · From Area calculations: square footage and acreage

Which pair consists entirely of units used to report land area?

Square feet and acres

Square feet and acres both measure area. Feet, yards, and miles without a square designation measure length.

Real estate math · From Area calculations: square footage and acreage

Which formula gives the area of a trapezoid when its two parallel sides and perpendicular height are known?

Average the two parallel sides, then multiply by the perpendicular height.

Trapezoid area = (parallel side one + parallel side two) ÷ 2 × perpendicular height. This uses the average of the parallel side lengths.

Real estate math · From Area calculations: square footage and acreage

Which membership mix describes the Texas Real Estate Commission itself?

Six brokers and three public members

TREC has nine commissioners: six brokers and three public members. Committee membership patterns are different.

Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

Which function belongs to TREC under the Act’s general powers provision?

Adopting and enforcing rules necessary to administer Chapters 1101 and 1102

Section 1101.151 authorizes TREC to adopt and enforce rules necessary to administer Chapters 1101 and 1102.

Source: Tex. Occ. Code § 1101.151 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

What is the regular term length for members of Texas’s Broker Responsibility Advisory Committee, apart from its initial staggering arrangements?

Four years

The committee’s regular terms are staggered four-year terms. Initial shorter appointments establish the staggered cycle.

Source: 22 Tex. Admin. Code § 535.46 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

Who appoints members of the Texas Real Estate Commission?

The governor, with the advice and consent of the Texas Senate

Commissioners are appointed by the governor with the advice and consent of the Texas Senate.

Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

Which group is specifically assigned to examine Texas broker responsibility issues and recommend possible related legislative changes?

Broker Responsibility Advisory Committee

The broker responsibility rule assigns examination of broker responsibility and recommendations about possible legislative changes to that advisory committee.

Source: 22 Tex. Admin. Code § 535.46 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

How many members constitute a quorum of Texas’s Broker Responsibility Advisory Committee?

Five

The broker responsibility rule sets the quorum at five members.

Source: 22 Tex. Admin. Code § 535.46 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

What term structure applies to members of the Texas Real Estate Commission itself?

Staggered six-year terms

Texas commissioners serve staggered six-year terms, distinct from the regular two- and four-year terms of the education and broker responsibility committees.

Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

Under the Act’s general advisory committee provision, committee members serve at whose will?

The Texas Real Estate Commission’s

Section 1101.158 states that an advisory committee member serves at the will of the commission.

Source: Tex. Occ. Code § 1101.158 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

How many education-member seats are included in Texas’s Education Standards Advisory Committee’s specified membership?

Four

The twelve-member committee includes four education members, alongside seven license-holder members and one public member.

Source: 22 Tex. Admin. Code § 535.43 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

Which Texas body has twelve members and regular staggered two-year terms?

Education Standards Advisory Committee

The Education Standards Advisory Committee has twelve members serving staggered two-year terms.

Source: 22 Tex. Admin. Code § 535.43 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

Which combination of subjects falls within Texas’s Education Standards Advisory Committee’s assignment?

Curriculum standards, course content requirements, and instructor qualifications

The education rule assigns curriculum standards, course content, and instructor qualifications to Education Standards.

Source: 22 Tex. Admin. Code § 535.43 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

Which statement correctly describes the scope of Texas’s Education Standards Advisory Committee’s course-related work?

It addresses both qualifying and continuing education courses

The committee’s curriculum, content, and instructor review covers both qualifying and continuing education courses.

Source: 22 Tex. Admin. Code § 535.43 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

Texas’s Broker-Lawyer Committee drafts and revises standardizable contract forms for which stated purposes?

To expedite real estate transactions and minimize controversy, with adequate safeguards for principals

Section 1101.254 identifies expediting transactions, minimizing controversy, and protecting principals through adequate safeguards.

Source: Tex. Occ. Code § 1101.254 ·Texas Real Estate Commission duties and powers · From TREC's composition, duties, and powers, and its advisory committees

Under Texas law, which relationship must exist before a licensed sales agent engages in brokerage?

Sponsorship by a licensed broker, with the agent acting for that broker

Texas requires both broker sponsorship and action for that broker before a sales agent engages or attempts to engage in brokerage.

Source: Tex. Occ. Code § 1101.351(c) ·Texas licensing · From Texas activities requiring a license, exemptions, business entities, inspectors, and appraisers

How is the Texas Appraiser Licensing and Certification Board organized under Texas law?

As an independent subdivision of the Texas Real Estate Commission

The statute identifies the Texas Appraiser Licensing and Certification Board as an independent subdivision of TREC.

Source: Tex. Occ. Code § 1103.051 ·Texas licensing · From Texas activities requiring a license, exemptions, business entities, inspectors, and appraisers

Which Texas brokerage task is expressly included within showing property?

A representative hosts an open house for prospective buyers.

Texas expressly includes hosting an open house at the property in the definition of showing.

Source: 22 Tex. Admin. Code § 535.4(c) ·Texas licensing · From Texas activities requiring a license, exemptions, business entities, inspectors, and appraisers

Which individual can satisfy the core Texas designated-broker requirements for a brokerage entity?

An active Texas broker in good standing who has managing authority

The designated broker must hold an active Texas broker license in good standing and have managing authority for the entity.

Source: 22 Tex. Admin. Code § 535.53(b) ·Texas licensing · From Texas activities requiring a license, exemptions, business entities, inspectors, and appraisers

What does Texas's inspection chapter say about work a person is authorized to perform under another state or local governmental license or registration?

The chapter does not prevent the person from performing the authorized act.

Section 1102.002(b) preserves acts authorized by a license or registration issued under another law by the state or a governmental subdivision.

Source: Tex. Occ. Code § 1102.002(b) ·Texas licensing · From Texas activities requiring a license, exemptions, business entities, inspectors, and appraisers

For Texas's exemption allowing an entity to receive a license holder's brokerage compensation, which entity types are specified?

A limited liability company or an S corporation

The statute specifies an LLC or an S corporation, together with the other ownership, registration, and activity conditions.

Source: Tex. Occ. Code § 1101.355(d)(3) ·Texas licensing · From Texas activities requiring a license, exemptions, business entities, inspectors, and appraisers

Which limitation is central to Texas's registration exception for a company receiving a license holder's earned brokerage compensation?

The company must perform no other acts of a broker.

The compensation-entity exemption expressly requires the entity to perform no other acts of a broker.

Source: Tex. Occ. Code § 1101.355(d)(2) ·Texas licensing · From Texas activities requiring a license, exemptions, business entities, inspectors, and appraisers

Which service falls outside Texas's auctioneer exemption when performed by an auctioneer who has no real estate license?

Negotiating the real estate purchase contract

The rule exempts auctioning real property but expressly excludes negotiating contracts without a real estate license.

Source: 22 Tex. Admin. Code § 535.5(e) ·Texas licensing · From Texas activities requiring a license, exemptions, business entities, inspectors, and appraisers