Texas Real Estate Principles 1 Practice Exam Questions And Answers (Latest Update 2024)

Which equals one square mile or 640 acres? {Ans: section}An owner sells part of his land that has no access to a public road but does have access over his remaining land. This creates an easement by {Ans: necessity}The priority of a mechanic's lien is established from the date {Ans: work was begun or materials were delivered, in whole or in part}A real estate agent tells a seller during a listing presentation that the firm's real estate commission is in line with those of other real estate firms in the area. The broker may {Ans: be guilty of price-fixing}An urban homestead is limited to a lot or lots NOT to exceed how many acres? {Ans: 10}What is the maximum amount that the Commission will pay from the real estate recovery trust account for claims against any one license holder, until the account has been repaid in full by the license holder? {Ans: $100,000}Which aspect of the Canons of Professional Ethics and Conduct requires the broker or sales agent to be informed on market conditions and national, state, and local developments affecting the real estate business? {Ans: competency.}Courses for the renewal of an active