Practice Quiz

Texas Real Estate Exam - Question List

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21. The Real Estate Commissioner issues special permits to real estate brokers for:
  1. Business opportunity transactions
  2. Subdivision lot transactions
  3. Mineral, oil and gas transactions
  4. Cemetery lot sales
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22. Under the Truth-in-Lending Law, which of the following is not to be included in the finance charge?
  1. Appraisal fee
  2. Loan points
  3. Time/price differential
  4. Finder's fees and similar charges
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23. Concerning the following, which would be correct?
  1. A note is the security for a trust deed
  2. A trust deed has more value than a note
  3. A trust deed is security for a note
  4. The note must be recorded to perfect a lien on the property
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24. A broker secures a listing, negotiates a sale, and the parties enter escrow. Before escrow closes, the broker’s license is revoked and the seller refuses to pay the commission because the broker is unlicensed. To collect the commission, the following is correct:
  1. Broker must prove he actually introduced the buyer to the seller
  2. Broker must prove that he was licensed at the time of sale
  3. Broker must prove that he executed the sales contract
  4. Broker cannot sue for a commission in view of license revocation
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25. Loans which are approved under the Federal Land Bank System are originated and serviced by:
  1. The National Farm Loan Association
  2. The Farm Home Administration
  3. The Federal Land Bank System
  4. National banks
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