The Key To Passing The Texas Real Estate Exam Is Understanding The Topic Areas


Texas Exam Topics Pie Chart


Tuesday's Key Points
Key Point's are important bullet points that relate to Texas state exam topic areas.

Commission Duties And Powers

To file a complaint, an individual must submit a formal complaint to TREC. Once received, TREC's Enforcement Division reviews the complaint to determine if it falls within its jurisdiction. If the complaint is deemed valid, an investigation is initiated.

Licensing

Conducting real estate auctions, where properties are sold to the highest bidder, generally requires a real estate license in Texas unless they collaborate with licensed real estate brokers to conduct real estate auctions.

Standards Of Conduct

Licensees owe fiduciary duties to their clients, which include the duties of loyalty, obedience, disclosure, confidentiality, accounting, and reasonable care (OLDCAR).

Agency / Brokerage

Unlicensed assistants may assist with administrative tasks related to advertising and marketing but should not be involved in the creation of advertising content or any activities that would require knowledge of TREC's advertising rules and regulations.

Contracts

The completed Seller's Disclosure Notice must be provided to the buyer before the buyer is obligated to purchase the property under a contract.

Special Topics

Separate Property is owned solely by one spouse in a marriage. It is distinct from community property.

Tuesday's Questions



What is the maximum time frame within which an injured party can file a legal action related to the Seller's Disclosure Notice (SDN)

A.) 1 year
B.) 2 years
C.) 3 years
D.) 4 years

Topic: Contracts




What is the maximum time frame within which an injured party can file a legal action related to the Seller's Disclosure Notice (SDN)


Correct Answer:
2 years


Remember:
An injured party has 2 years to file a legal action related to the SDN.



Next Question →

If during a marriage a spouse received compensation for personal injuries, which of the following would generally be correct

A.) It is subject to immediate division during a divorce.
B.) It is considered community property.
C.) It is considered separate property.
D.) It depends on the agreement of the spouses when received.

Topic: Special topics


If during a marriage a spouse received compensation for personal injuries, which of the following would generally be correct


Correct Answer:
It is considered separate property.


Remember:
Compensation received for personal injuries is generally considered separate property.



Next Question →

Jack is the principle broker for New Star Realty. He employs three sales agents. Unbeknownst to him, one of the agents has been obtaining listings by convincing owners to sell. The agent is telling the owners that their property values are going to drop significantly due to a low-income housing development being built. One of the sellers just filed a blockbusting complaint against the brokerage and TREC has started an investigation. What best describes what may happen due to this activity

A.) It will be Jacks responsibility to pay the fine levied against the sales agent
B.) TREC will take action against Jack only and will suspend or revoke his broker's license
C.) Jack is responsible for all actions of the licensees working under him and will be held accountable in the same manner as the licensee who has violated the code
D.) If Jack has been deemed to be completely unaware of the sales agent's illegal activities, the broker will be absolved of responsibility

Topic:


Jack is the principle broker for New Star Realty. He employs three sales agents. Unbeknownst to him, one of the agents has been obtaining listings by convincing owners to sell. The agent is telling the owners that their property values are going to drop significantly due to a low-income housing development being built. One of the sellers just filed a blockbusting complaint against the brokerage and TREC has started an investigation. What best describes what may happen due to this activity


Correct Answer:
If Jack has been deemed to be completely unaware of the sales agent's illegal activities, the broker will be absolved of responsibility


Remember:
If the investigation proves t



Next Question →

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We Strongly Believe That Passing The Texas State Exam Involves Two Key Areas:
· Understanding The Topics On The State Exam
· Recognizing These Topics In The Questions

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Practice Exams: Reinforce topics and make it easier to recognize them in questions.

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