Principals Exam (version 2)

Principals Exam (version 2)

12th Grade

•

60 Qs

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Principals Exam (version 2)

Principals Exam (version 2)

Assessment

Quiz

•

Professional Development

•

12th Grade

•

Hard

Created by

James Marshall

Used 17+ times

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60 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An agent works on behalf of

a customer.
a client.
both a customer and a client.
neither a customer not a client.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

TRELA

enforces the License Act.

may appoint an administrator for the TREC.

is a primary law that regulates the conduct of the real estate licence holders.

is the law established by the TREC in the rule-making authority.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Texas Real Estate Commission

does not hold the broker accountable for the actions of sponsored associates.
holds the broker accountable for the professional actions of sponsored associates.
holds buyers or sellers accountable for the acts of their real estate brokers and sales agents.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who engages an agent to represent her interests in a transaction is called a client, or

a customer of the agent.
a seller.
a buyer.
the agent's principal.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A listing agent tells a buyer-customer that the seller is under pressure to sell because of a recent contract to purchase another house in Idaho. Such disclosure is

acceptable if it results in a sale.
acceptable if no details of the move to Idaho are disclosed.
unacceptable because of the fiduciary duty owed the owner.
unacceptable because the listing broker is the agent of the buyer.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A material fact is one that

the client considers important.
the customer considers important.
a reasonable person might feel is important.
the listing broker considers important.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Two people own a house, each having an undivided equal interest. Which of the following best describes what they own?

Each own fifty percent of the physical house and the land it rests on.
Each own one hundred percent of the physical house and the land it rests on.
Each owns fifty percent of the estate represented by the real property, but no physical portion of the real property.
Each owns one hundred percent of the estate represented by the real property and fifty percent of the physical house and the land it rests on.

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