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1) A sales license holder, Maria, works for ABC Realty

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1) A sales license holder, Maria, works for ABC Realty. Her broker is James. She has signed a property management agreement for the Sunshine Apartment Complex. The agreement authorizes the agent to manage the complex and includes the authority to oversee advertising, maintenance, leasing space, and collecting rents. Which of the following statements about this situation is true?

(a) A sales license holder cannot sign a management agreement.

(b) Maria is a general agent for the Sunshine Apartment Complex.

(c) James is a special agent for the Sunshine Apartment Complex.

(d) James is a general agent for the Sunshine Apartment Complex.

13. Mark, a licensed sales agent with XYZ Real Estate, has taken a listing at 25 Smith Street. The seller has told Mark that two years ago, there was a murder/suicide on the property. The seller has asked that Mark be sensitive to this issue in marketing the property. The real estate term used to describe this property is _____

(a) Unmarketable

(b) Stigmatized

(c) Uninsurable

(d) Deficient

14. Which of the following statements about Intermediary with Appointments is true?

(a) The broker/Intermediary can give advice and opinions to both parties as long as he remains honest and fair.

(b) The broker can be one of the appointees.

(c) An appointed associate can give advice and opinions to one party .

(d) Appointed associates can only disclose facts to the parties to the transaction.

15. Which of the following statements about Intermediary with Appointments is true?

(a) The broker/Intermediary can give advice and opinions to both parties as long as he remains honest and fair.

(b) The broker can be one of the appointees.

(c) An appointed associate can give advice and opinions to one party.

(d) Appointed associates can only disclose facts to the parties to the transaction.

25. A broker is responsible for which of the following actions or activities on the part of a sponsored license holder?

(a) Timely renewal of a license

(b) Enrollment in a health insurance plan

(c) Completion of required continuing education

(d) Use of promulgated forms

26. In _____, an agent involved cannot give his advice or negotiate for either party.

(a) Intermediary with Appointments

(b) Cooperative Sales

(c) Intermediary without Appointments

(d) Transaction brokerage

27. Mark has secured a listing on a property on Main St. in Magnolia, TX. In the listing, the seller gave permission for Intermediary and the use of appointed associates. Mary, another agent with the same firm, has a verbal buyer representation agreement with her client. Her client wants to buy Mark’s listing. Mary prepares an offer for the listing, and both parties are given notice that Mark is working with the seller, and Mary is working with the buyer. What is true?

(a) This is a correct example of Intermediary with appointments.

(b) Mark and Mary’s broker is working as a properly appointed Intermediary in this scenario.

(c) Mark and Mary’s broker is working as a properly appointed Dual Agent in this scenario.

(d) This scenario describes a violation of the License Act as the appointments must be made by the broker or another license holder with the authority to make appointments.

30. A Texas independent broker works alone and does not sponsor any agents. He has a buyer client under a written buyer representation agreement who wants to purchase one of his listings. What is true?

(a) He cannot sell the listing to his buyer client.

(b) He must refer the buyer to another broker.

(c) He can represent both parties as an Intermediary with appointments.

(d) He can represent both parties as an Intermediary without appointments.

33. To have a subagency relationship, the buyer must be a(n) _____.

(a) Client

(b) Unrepresented customer

(c) Fellow broker

(d) Landlord

34. Which of the following is NOT a test for specifying that a sales agent is an independent contractor under the Tax Equity and Fiscal Responsibility Act?

(a) The sales agent must be full-time salaried.

(b) The sales agent must be paid on a commission basis.

(c) The sales agent must hold a real estate license.

(d) The sales agent must have a written contract with the broker specifying that he or she is not an employee.

35. That the real estate agent should place no personal interest above that of his or her client is part of the Article of _____.

(a) Integrity

(b) Competency

(c) Fidelity

(d) Consumer Protection Notice CN 1-2

36. Which of the following elements is NOT included in a listing agreement?

(a) The IABS form

(b) A beginning date and termination date

(c) The percentage of the broker's commission which is split with the agent

(d) Intermediary consent

38. Which of the following plays a role in influencing an individual's sense of morality?

(a) Immediate family

(b) Religious training

(c) School experience

(d) All of these are influences on morality

40. When must the TREC IABS be presented?

(a) At the first face-to-face meeting

(b) At an open house

(c) At first contact

(d) At first substantive dialog

41. A broker with a listing represents the _____.

(a) Buyer

(b) Tenant

(c) Seller

(d) Transaction

47. Which of the following statements concerning employment law in Texas is FALSE?

(a) Real estate brokers are exempt from providing worker's compensation to sponsored agents.

(b) Real estate brokers must provide worker's compensation to sponsored agents.

(c) The Texas Workforce Commission investigates allegations of discrimination.

(d) All of these are false.

52. Which of the following statements regarding the responsibilities of real estate license holders is FALSE?

(a) License holders have a fiduciary duty to their clients.

(b) License holders are responsible for written and oral statements to customers and clients.

(c) License holders have no duties to customers.

(d) License holders must treat all parties honestly.

53. Which of the following actions by a broker is NOT a violation of federal law?

(a) Attempting to fix prices

(b) Limiting competition by assigning market areas

(c) Negotiating commission rates with clients

(d) Boycotting discount brokers

56. Which of the following is the best example of the agency relationship?

(a) Broker to fiduciary

(b) Broker to principal

(c) Customer to subagent

(d) Broker to customer

57. Unlike a general agent, a special agent is not allowed to _____ the principal.

(a) Obey

(b) Bind

(c) Perform limited duties for

(d) Be loyal

59. According to TREC, what is true of livestreaming on social media platforms?

(a) It is not allowed under TREC rules because it is too difficult for agents to stay in compliance with the rules when livestreaming.

(b) Brokers have no control over what their sponsored agents are livestreaming, and should not allow agents to livestream.

(c) It is allowed under TREC rules because agents who livestream have a variety of ways that they can stay in compliance with TREC rules on advertising.

(d) TREC advertising rules for livestreaming are different from the rules for print advertising and other forms of online/digital advertising.

60. Which statement regarding intermediary is FALSE?

(a) There can be two intermediaries in the same transaction.

(b) Intermediaries are not agents.

(c) An intermediary may appoint more than one sales associate to work with the same party.

(d) The broker decides whether or not to appoint associates.