What is the role of an apartment locator?

A real estate license holder who locates dwelling units for prospective tenants

A person who sells real estate properties

A person who manages rental properties

A real estate agent who specializes in commercial properties

What is the primary function of the Education Standards Advisory Committee (ESAC)?

To review and revise curriculum standards, course content, and instructor certification requirements

To provide financial advice to real estate agents

To manage real estate transactions

Who are the members of the Education Standards Advisory Committee?

Seven license holders, four education members, and one public member

Ten real estate agents and two public members

Five real estate agents and seven public members

Eight education members and four public members

Diagram showing the structure of the Texas Education Standards Advisory Committee

Texas Education Standards Advisory Committee

What does SAE stand for in real estate education?

Sales Agent Apprentice Education

What is the purpose of Sales Agent Apprentice Education (SAE)?

To be completed in the first two years of being licensed as a real estate agent

To be completed before obtaining a real estate license

To be completed after five years of real estate practice

To be completed only if pursuing a broker's license

What does the term 'situs' refer to in real estate?

The economic significance of a property's location

The physical durability of land

The ability to convert land to cash

How do supply and demand affect real estate prices?

They move in opposite directions

They move in the same direction

What does the term 'real property' include?

Economic significance of location

Which of the following is a primary objective of the Texas Real Estate License Act (TRELA)?

To protect the public from incompetent brokers and sales agents

To promote real estate investment

To regulate construction standards

What is the role of the Texas Real Estate Commission (TREC)?

To enforce all real estate-related statutes and adopt new rules

To manage real estate investments

What happens when a real estate license is in inactive status?

The license holder does not have a sponsoring broker

The license holder can practice real estate

The license holder must renew their license

The license holder can sell insurance

What is the purpose of the Sunset Act in Texas?

To evaluate every state agency every 12 years

To promote real estate development

What is the main role of professional organizations in the real estate industry?

Provide additional education and guidance

Handle disputes between brokers and clients

Which organization is considered the most influential professional organization for real estate agents?

National Association of REALTORS® (NAR)

Texas Real Estate Commission (TREC)

Graduate, REALTOR® Institute (GRI)

What is a common misconception about the term "realtor"?

It refers to any real estate agent

It is a legal title for brokers

It is a designation for property managers

What does the designation GRI stand for?

Government Real Estate Institute

What is NOT a function of professional organizations in real estate?

Offer guidance to professionals

What is an appraisal in real estate?

An impartial opinion of a property's value

A method to increase property value

A legal document for property ownership

A type of real estate investment

What is a Comparative Market Analysis (CMA)?

A report comparing prices of sold homes similar to the subject property

A legal document for property transfer

A method to calculate property taxes

A strategy for real estate investment

What is the main difference between a CMA and a BPO?

A BPO is performed for a different reason and is more in-depth

A CMA is more detailed than a BPO

A CMA is used for legal purposes

A BPO is only used for commercial properties

In a seller's market, what is the condition of the real estate market?

More buyers than available properties

Equal number of buyers and properties

What does a broker price opinion (BPO) represent?

A broker's opinion of the value of a piece of real property, given in writing

A detailed inspection report of a property

A legal document for property transfer

A financial statement of a real estate company

What is the purpose of a comparative market analysis (CMA)?

To compare the prices of recently sold or listed homes to estimate the market value of a similar property

To provide a legal description of a property

To assess the environmental impact of a property

To determine the tax value of a property

What is one thing a license holder MUST do according to TRELA?

Keep their license up to date if it is in active status

Practice without a real estate license

Fail to notify TREC of address change

Commit fraud or misrepresentation

Which of the following is NOT a reason for suspension or revocation of a license under Sec. 1101.652 of TRELA?

Practicing under an inactive broker

What should a license holder do when sharing information, according to TRELA?

Quote the source of any information you share

Always disclose agency relationships

Stay current on all fees to the Texas Real Estate Commission

Only practice real estate under the sponsorship of an active broker

What does the Texas Real Estate Commission (TREC) provide for all license holders to use?

Promulgated contracts and forms

What is considered unauthorized practice of law in real estate transactions?

Drafting personal contracts for real property

Offering home inspection services

Texas Pre-license Principles of Real Estate I Study Guide Quiz

12th Grade

•

65 Qs

Similar activities

Keusahawanan set 2 Semester 3 STPM

11th - 12th Grade

•

60 Qs

INQUIRIES, INVESTIGATION AND IMMERSION_LONG QUIZ

12th Grade

•

70 Qs

HT Unit 3.00

9th - 12th Grade

•

60 Qs

EPF 1st Semester Exam

9th - 12th Grade

•

60 Qs

Leadership/Management

9th - 12th Grade

•

60 Qs

Unit 1: Entrepreneurship and Economics Study Guide

9th - 12th Grade

•

60 Qs

Legal Environment of Business Midterm

10th Grade - University

•

64 Qs

PoBMF 2nd Semester Final Exam Review

8th - 12th Grade

•

60 Qs

Texas Pre-license Principles of Real Estate I Study Guide Quiz

Quiz

•

Business

•

12th Grade

•

Practice Problem

•

Medium

Elizabeth Coughlin

Used 14+ times

FREE Resource

Knowledge of industrial property

Understanding of property development

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

Already have an account?

Similar Resources on Wayground

60 questions

Accounting Final Review

Quiz

•

9th - 12th Grade

63 questions

CTE: Pre-Assessment

Quiz

•

12th Grade

70 questions

USG Mid Term Exam Quiz 2024

Quiz

•

4th Grade - University

70 questions

Introduction to Business & Technology - Fall 2024 Study Guide

Quiz

•

9th - 12th Grade

70 questions

COMMERCE QUIZ

Quiz

•

11th - 12th Grade

62 questions

UD1-12. Test dels exàmens

Quiz

•

12th Grade

60 questions

QCE Business 2019 Unit 3.1 Mega Business Syllabus Quiz

Quiz

•

11th Grade - University

60 questions

SOAL SMK MATC 2023

Quiz

•

9th - 12th Grade

Popular Resources on Wayground

5 questions

This is not a...winter edition (Drawing game)

Quiz

•

1st - 5th Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

10 questions

Identify Iconic Christmas Movie Scenes

Interactive video

•

6th - 10th Grade

20 questions

Christmas Trivia

Quiz

•

6th - 8th Grade

18 questions

Kids Christmas Trivia

Quiz

•

KG - 5th Grade

11 questions

How well do you know your Christmas Characters?

Lesson

•

3rd Grade

14 questions

Christmas Trivia

Quiz

•

5th Grade

20 questions

How the Grinch Stole Christmas

Quiz

•

5th Grade

Discover more resources for Business

26 questions

Christmas Movie Trivia

Lesson

•

8th Grade - Professio...

15 questions

Christmas Song Emoji Pictionary

Quiz

•

7th - 12th Grade

20 questions

Christmas Movies

Quiz

•

1st - 12th Grade

55 questions

CHS Holiday Trivia

Quiz

•

12th Grade

20 questions

Christmas Movie Trivia

Quiz

•

9th - 12th Grade

29 questions

christmas facts

Lesson

•

5th - 12th Grade

20 questions

Christmas Trivia

Quiz

•

5th - 12th Grade

20 questions

Stages of Meiosis

Quiz

•

9th - 12th Grade

Texas Pre-license Principles of Real Estate I Study Guide Quiz

65 questions

What is one of the specialties mentioned in the introduction to modern real estate practice?

Which committee is mentioned in the introduction to modern real estate practice?

What is a characteristic of the real estate market mentioned in the document?

What is one of the purposes of licensing laws in real estate?

Which commission is responsible for real estate licensing requirements in Texas?

Which of the following is a primary focus of commercial real estate?

What is NOT necessary to become a property developer according to the text?

Which of the following is a type of industrial property use mentioned in the text?

What is a common form of residential real estate?

What is the role of an apartment locator?

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Business