Texas Real Estate Law Study 2024-2025 Edition. Questions & Correct Answers. Graded A+, Exams of Real Estate Management

Download Texas Real Estate Law Study 2024-2025 Edition. Questions & Correct Answers. Graded A+ and more Exams Real Estate Management in PDF only on Docsity! Texas Real Estate Law Study 2024-2025 Edition. Questions & Correct Answers. Already Graded A+ ____ A buyer or seller, including prospective biker or seller of real property. - ANSClient ______ - In the reasonable judgement of the inspector, a condition that constitutes a hazard to life, limb, or property as specified by these standards of practice. - ANSDeficiency A change in sponsorship shall be reported to the Commission ______. If the sponsorship has ended because the professional inspector has terminated the sponsorship, the professional inspector shall immediately so notify the apprentice or real estate inspector in writing. - ANSImmediately A fee of 120.00 for filing an original or reinstatement application for a license as a real estate inspection. - ANSFalse - 60.00 30 for apprentice 60 for Real estate inspector 120 for Professional inspector A license applicant who does not satisfy the examination requirement before the first anniversary of the date the application is filed must submit a new application but does not have to pay another fee. - ANSFalse A payment to the recovery fund is not required before an inspector is issued a license. - ANSFalse A person may not act or attempt to act as a real estate inspector in this state for a buyer or seller of real property - ANSReal Estate Inspector License Required A person who commits an offense if the person does not hold a license under this chapter and knowingly engages in the business of real estate inspection, including performing an inspection while the person's license is revoked is suspended. This is a _____ __ _______ - ANSClass A misdemeanor A person who represents to the public that the person is trained and qualified to perform a real estate inspection and who accepts employment to perform a real estate inspector for a buyer or a seller of real property. - ANSProfessional Inspector An aggrieved person who receives a recover on a judgment against a single defendant before receiving a payment from the recover must apply the recovery first to - ANSActual damages An apprentice, real estate, or Professional Inspector License. - ANSLicense. An inspector may make the following change to the Standard form: Remove the Commission's Logo. - ANSTrue An inspector may not act in a transaction in the dual capacity of inspector and ________ , _______ or ________ - ANSUndisclosed principal, Broker or sales agent An inspector may not perform or agree to perform ____ or _____ in connection with a real estate inspection under an earnest money contract, lease, or exchange of real property. - ANSRepairs or maintenance An inspector may not perform or agree to perform repairs or maintenance in connection with a real estate inspection under an earnest money contract, lease, or exchange of real property. - ANSRepairs and Maintenance An inspector must maintain financial responsibility in the form of liability insurance policy with a minimum limit of ______ per occurrence or a bond or other security accepted by the commission. - ANS100,000 An inspector must render an opinion as to the performance of the foundations. - ANSTrue An inspector that conducts business using a DBA or incorporated name must notify TREC of the use of the name - ANSwithin 30 days after he starts to use the name and within 30 days after she discontinues using the name. An inspector whose license is revoked under this section may not apply to the commission for a new license until after the ______ anniversary of the date of the revocation. - ANSFirst Are inspectors qualified to perform all tasks outline in the SOP other than optional items? - ANSYes As a prerequisite for renewal of a real estate inspector license, professional inspector license, or apprentice inspector license, the inspector must participate in the continuing education program and submit evidence satisfactory to the commission of successful completion of at least ____ classroom hours of core real estate inspection courses or continuing education courses for each year of the license period preceding the renewal. - ANS16 Inspectors are required to verify a tonnage match of indoor coils and outside coils or condensing units. - ANSTrue Inspectors may not pay or receive a fee for inclusion on a list of - ANSinspectors. Is the use of the TREC REI-% inspection report form mandatory? - ANSTRUE Issuance of License. The commission shall issue the appropriate license to an applicant who: - ANSMeets the required qualifications Pays the fee required by section 1102.352 offers proof of liability insurance with a minimum limit of 100,000 per occurrence License examination must evaluate competence in the subject matter of each required core real estate inspection core. - ANSTrue May an inspector provide a different report to a client prior to the delivery of the current TREC approved Report Form? - ANSNo, prodiving a different report first would violate the rule. The inspector could provide a different report at as an attachment to the REI 7- 5. No later than the ____ day before the expiration date of a person's license, the commission shall provide notice of the expiration to the person. - ANS31st On the state portion of the exam, there shall be an examination for a real estate and for professional inspector license and a real estate inspector applicant must achieve a score of at least 75%-80% and a Professional Inspector 70% - ANSFalse Payment from the inspector recovery fund may not exceed a total of $________ per claim. - ANS12,500 Payments from the recovery fund for the claims based on judgments against a single inspector may not exceed a total of ________ until the inspector has reimbursed the fund for all amounts paid. - ANS30,000 Standards of Practice Refers to 535.202 - 535.232 - ANSFalse Subject matter for inspector education courses may include: - ANSGeneral Business Practices Texas Real Estate Inspector Committee is an advisory committee appointed by the commission. - ANSCommittee Membership The advertisement must contain the license number of the person licensed. - ANSTrue The Commission does no prescribe each license examination and prepare or contract for examination. - ANSFalse The commission may _____ an order revoking the license - ANSprobate The commission may issue a ______ license. - ANSProbationary The commission may issue a probationary license? - ANSTrue The commission may issue or renew a license for a period not to exceed 24 months. - ANSLicense term and expiration The commission may waive the national portion of the examination. - ANSTrue The commission shall determine, or request, whether a person's _____________ _____________ complies with the commission's moral character requirements for licensing. - ANSFitness Determination The commission shall require that an applicant for a license submit a complete and eligible set of - ANSFingerprints The committee consists of ______ members appointed by the commission. - ANS9 The committee may remove a committee member. - ANSTrue Does not have the qualifications require by subsection b 1 Cannot discharge the members duties for s substantial part of the member's term Is absent from more than half of the regularly scheduled committee meetings that the member is eligible to attend during each calendar year, unless the absence is excused by majority vote. etc. The continuing education credit can be used twice for the same course taken within a 24-month period. - ANSFalse The inspection report shall be delivered within how many days after the completion of the inspections? - ANS2 Days The inspector has ______ business days to respond to TREC when called upon for information in the course of an investigation. - ANS10 Days The inspector is not required to inspect heat pumps, in the heat pump mode, when the outdoor temperature is above 70 degree. - ANSTrue The inspector is required to activate smoke or carbon monoxide alarms that are or may be monitored or require the use of codes. - ANSFalse The inspector is NOT required. The inspector is required to determine the uniformity of conditioned air to the various parts of the structure. - ANSTrue The inspector is required to notify the Commission within 30 days of the cancellation or non-renewal of Professional liability insurance coverage. - ANSFalse 10 Days The inspector is required to provide an exhaustive list of deficiencies and water penetration in exterior walls, doors, and windows? - ANSFalse The inspector is required to verify the integrity of the heat exchanger. - ANSFalse The inspector is required to verify the tonnage match of indoor coils or condensing units. - ANSFalse The inspector may change the check boxes on the form with circles or brackets? - ANSFALSE The inspector shall manually test the installed and accessible smoke and carbon monoxide alarms? - ANSTrue The inspector shall not report as deficient deficiencies in performance of heat pumps. - ANSFalse The inspector shall render a written opinion as to the performance of the foundation? - ANSTrue The inspector shall report as deficient combustible materials within thirty inches above the cook top burners? - ANSTrue The stage of construction when a new, building, addition, improvement, or alteration to an existing building is sufficiently complete that the building, addition, improvement or alteration can be occupied or used for its intended purpose as defined as? - ANSNew Construction The TREC rules require inspectors to provide the Consumer Protection Notice by which of the following methods? - ANSDisplaying it in a readily noticeable location in each place of business the inspector maintains.