Cram Exam Flashcards Preview

Texas Real Estate Exam > Cram Exam > Flashcards

Flashcards in Cram Exam Deck (12)
Loading flashcards...
1
Q

Tort Liability

A

Intentional and unintentional injuries to clients

2
Q

Avoidance

A

If a licensee injures a client with a tort liability, the client can refuse to pay a commission

3
Q

When listing property with multiple owners, a licensee does not have to do which of the following

A

Contact all owners equally

4
Q

Promissory Estoppel

A

When a court orders a party to uphold a verbal contract

5
Q

Usually exempt from continuing education requirements

A

Brokers licensed prior to October 31, 1991

6
Q

What is the statute of limitations for a written real estate contract in the State of Texas

A

4 years

7
Q

Within the State of Texas, where can you find the Statute of Frauds

A

Uniform Commercial Code

Texas Commerce Business Handbook

8
Q

Under Texas regulations, which of the following can cause civil action in the absence of a written contract

A

Promissory Estoppel. Promissory estoppel is when an agent acts without authority. This can cause civil action by all involved principals.

9
Q

When TREC issues an order for a hearing to a licensee, TREC must give how many days notice

A

14 days

10
Q

Intermediary

A

An intermediary cannot represent either party. The intermediary must be impartial. Written consent must be given by the involved principals

11
Q

What is the maximum fine amount charged as a penalty against a licensee for one offense?

A

$5,000

12
Q

Under Texas community property laws, when the 1st spouse dies…

A

50% of the property can be passed by will to heirs