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Texas Real Estate Agent State Exam Chapter 2 Questions With complete Solutions, Exams of Real Estate Management

Rio Salado CollegeReal Estate Management

Texas Real Estate Agent State Exam Chapter 2 Questions With complete Solutions

Typology: Exams

2024/2025

Available from 01/31/2025

bryanryan
bryanryan 🇺🇸

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Texas Real Estate Agent State Exam Chapter
2 Questions With complete Solutions
Chapter 2 Licensing correct answer: Sales Exam 2 questions
Person who is exempt from Real Estate license in Texas correct
answer: 1. Texas licened attorney who will not get comission
split
2. Court apppointed receiver, Trustee, Guardian, and Sherifs any
who is in charge for foreclosure
3. Administrator and executor of a will
4. Onsite apartment managaer
5. New home sale agent working for one builder or owner
6. Cemetery Lot agent
7. FSBO
8. Employee who lease or rent for owner
9. Corporatte eployee buy, sell, lease corporate property
10. Hotel personall
11. Attorney in fact
12. Actuioneer calling a real estate auction
13. Anyone selling mobile home
Person who must have real estate license correct answer: 1.
Attorney who get comission split
2. Auctionere involved real estate transaction
3. Apartment locator
4. REal estate sales agent
5. Business entities that receive compensation onbehalf of
license holder
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Download Texas Real Estate Agent State Exam Chapter 2 Questions With complete Solutions and more Exams Real Estate Management in PDF only on Docsity!

Texas Real Estate Agent State Exam Chapter

2 Questions With complete Solutions

Chapter 2 Licensing correct answer: Sales Exam 2 questions Person who is exempt from Real Estate license in Texas correct answer: 1. Texas licened attorney who will not get comission split

  1. Court apppointed receiver, Trustee, Guardian, and Sherifs any who is in charge for foreclosure
  2. Administrator and executor of a will
  3. Onsite apartment managaer
  4. New home sale agent working for one builder or owner
  5. Cemetery Lot agent
  6. FSBO
  7. Employee who lease or rent for owner
  8. Corporatte eployee buy, sell, lease corporate property
  9. Hotel personall
  10. Attorney in fact
  11. Actuioneer calling a real estate auction
  12. Anyone selling mobile home Person who must have real estate license correct answer: 1. Attorney who get comission split
  13. Auctionere involved real estate transaction
  14. Apartment locator
  15. REal estate sales agent
  16. Business entities that receive compensation onbehalf of license holder

6.The designated officer of licesed real estate corporation

  1. A third party who controls the acceptance or collection of rent from single family home
  2. Any business entity that engate in real estate brokerrage and is required to be register do busienss in Texas with secraret state If a designate agent has a less than how many % of interest in a real estate business entity he msut provide what correct answer: 10%, E and O insurance E and O insurance with minimu annual limite how much is required correct answer: $1,000. If desginated agent own 10% or more than reuired E and O insurance is how much correct answer: $0. What is steps in obtaining real estate license correct answer: 1. Meet educational requirement
  3. Submit an application with or without broker
  4. Submit required fee
  5. Pass the state exam
  6. Demonstrate honesty, integrity and Trustworthiness An application is denied if individual is in defaul for correct answer: Texas state studen loan What are the licensing reuiqrement correct answer: 1. Must be 18years older
  7. Reident of Texas at the time of filing
  8. Comple wit hlegal residency requirement
  9. Submit fingerprint to TREC before or after testing

What subject is mandated for continue education course correct answer: 8hours of Legal and Ethics If TREC does not have proof of CE at the time of renew.the fee for renewal will include how much penalty correct answer: $200(initial automatic) and TREC will provide temporary renewal 60days for you to complete CE. What happen if you don`t complete CE within 60days that TREC provided you. correct answer: Automatically back to inactive again How much do you need to pay for move license back to active from inactive correct answer: Complete CE and pay $250. plus pay $50.00 to move The license holder need to submit form stating what to TREC in order to bring back to acticve correct answer: Letter stating that he or she did not engage in real estate while inactive What is maximum period of time for monetary penality is how many months correct answer: 6months Can individual hold broker and sales person at the same time? correct answer: No, Texas is one license state If you pay inactive status to TREC, you dont have to pay renewal fee correct answer: No, Accoridng to SAE rule, you have to pay renewal fee

Time spend as inactive does apply toward four year requirement for broker certification (Y or N) correct answer: No, it does not count Even though you are inactive, you still need sponsor broker during the period(T or F) correct answer: False, you do not need sponsoring broker during that time How soon does sale agent need to find another broker if broker die or his broker is suspend for license correct answer: Immediately When changing to a new broker, license holder is authorize by when correct answer: when his fee and sponsorship form have been mailed If broker has more than one place of business he must obtain correct answer: Branch office license How much does branch office fee will cost per office correct answer: $50. How much is limit time for TREC to deny an application correct answer: There is not limit time Once TREC decide to disapprove an application they must notify the applicant within correct answer: 30days If an application for licensure is disapproved by TREC, the applicant may make appeal within correct answer: 10days