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LAWS OF AGENCY-CHAMPIONS SCHOOL OF REAL ESTATE ACTUAL EXAM NEWEST VERSION EXPECTED QUESTION AND CORRECT ANSWER FROM VERIFIED SOURCES RATED A GRADE.$18.99
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LAWS OF AGENCY-CHAMPIONS SCHOOL OF REAL ESTATE
ACTUAL EXAM NEWEST VERSION 2024-2025 EXPECTED
QUESTION AND CORRECT ANSWER FROM VERIFIED SOURCES
RATED A GRADE.
When an agent and potential party enter into a "substantive" discussion
of a real estate transaction,✔CORRECT ANSWER✔✔the party must be
provided with a TREC-prescribed agency information form
Does a substantive discussion always occur at the first face to face
meeting✔CORRECT ANSWER✔✔NO
When should the Information About Brokerage Services IABS form be
provided to a seller✔CORRECT ANSWER✔✔prior to a listing
presentation, and should be provided to a buyer prior to discussion of a
possible purchase
A license holder is not required to provide a representation disclosure
if✔CORRECT ANSWER✔✔the proposed transaction is for a residential
lease for not more than one year and a sale is not being considered
A broker may act as an intermediary between parties to a real estate
transaction if✔CORRECT ANSWER✔✔the broker obtains written
,consent from each party for the broker to act as an intermediary in the
transaction
What form must an agent provide to a potential client at the first
substantive discussion of a real estate transaction✔CORRECT
ANSWER✔✔IABS
In real estate, an example of a general agent would be a(n)
_____________✔CORRECT ANSWER✔✔property manager
when an agent and potential party enter into a ____________
discussion of a real estate transaction, the party must be provided with
a TREC-prescribed agency information form. First contact/orally or
written✔CORRECT ANSWER✔✔substantive
When acting in an intermediary transaction✔CORRECT ANSWER✔✔the
broker is required to treat all parties honestly
A special duty of honesty is applied in the act when✔CORRECT
ANSWER✔✔the license holder is buying or selling property in his or her
name
customer✔CORRECT ANSWER✔✔also know as a third party, is a party
to a transaction who is not being represented by the license holder
, A team name must end with the word✔CORRECT ANSWER✔✔team or
group
advertisement✔CORRECT ANSWER✔✔is any form of communication by
or on behalf of a license holder designed to attract the public to use real
estate brokerage services and includes, but is not limited to, all
publications, brochures, radio or television broadcasts, all electronic
media
T/F: Advertisement does not include communication from a license
holder to the license holders current client✔CORRECT
ANSWER✔✔TRUE
In Texas, most sellers prepare a Seller's Disclosure of Property
Condition, and who is responsible for its accuracy✔CORRECT
ANSWER✔✔the seller
TREC rules define ___________________ as any form of
communication on behalf of a license holder designed to attract the
public for real estate services✔CORRECT ANSWER✔✔advertisement
The principal is also known as✔CORRECT ANSWER✔✔client
fiduciary relationship✔CORRECT ANSWER✔✔a relationship founded on
trust and confidence
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