Texas Real Estate Paper 10

1

Salesperson Judy Jones is employed by A to Z Realty, Inc. Judy learns that A to Z’s broker of record missed her licensing renewal deadline. When Judy questions the broker about this, the broker laughs and says, “Don’t worry. There is always a grace period to renew.” Judy knows that this is not true, but decides not to say any more about it. Judy’s conduct is






2

What must a broker do to comply with the Texas Real Estate License Act when placing a sign on a property offering it for sale?






3

If the effective date on a contract was June 26, 2005 and it granted the buyer an option period of eight days, on what date at midnight did the option period end?






4

May a broker decide to offer cooperation with other brokers through subagency when placing a listing in the Multiple Listing System (MLS) of the local REALTOR® association?






5

Which of the following would be considered a part of community property owned by a married couple that are legal residents of the state of Texas?






6

Which of the following is NOT an addendum promulgated by the Texas Real Estate Commission?






7

Salesperson Sidney failed to complete his Mandatory Continuing Education (MCE) prior to the expiration date of his current license. On the fifth of the month following, he brokered a deal worth a $30,000 commission to him after the brokerage company gets its share. Which of the following statements is true?






8

Which of the following actions could leave a broker open to a charge of practicing law without a license?






9

Parties can be compelled to take a dispute to mediation prior to being able to initiate litigation by






10

A real estate salesperson decides to sell his own property without using a broker. In offering his property for sale, what must the salesperson do?






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