US Real Estate Texas Test 5

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Texas Professional (Real Estate, USA) USA — Texas State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Texas.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Texas · Education: Professional (Adult) · Part: Real Estate — Texas · Country: USA · Region: USA — Texas

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

Which agency licenses agents in Texas?

A) IRS

B) TREC

C) State Bar

D) Medical Board

Question 2

What is agency in real estate?

A) broker acting for a client

B) tenancy

C) zoning

D) ownership

Question 3

What is a listing agreement?

A) deed

B) contract to sell a property

C) lease

D) purchase offer

Question 4

What is earnest money?

A) fee

B) buyer good-faith deposit

C) commission

D) tax

Question 5

What is PITI?

A) principal, interest, taxes, insurance

B) a deed

C) a tax

D) a loan type

Question 6

What is a fiduciary duty?

A) secrecy from client

B) dual profit

C) loyalty, obedience, care to client

D) profit first

Question 7

What is dual agency?

A) no representation

B) two brokers

C) one broker representing both sides

D) buyer only

Question 8

What is the Fair Housing Act?

A) tax law

B) building code

C) bans housing discrimination

D) zoning code

Question 9

What classes are protected in housing?

A) income

B) age only

C) politics

D) race, color, religion, sex, handicap, family, national origin

Question 10

What is redlining?

A) surveying

B) illegal denial by neighborhood

C) appraising

D) mapping

Question 11

What is steering?

A) showing homes

B) negotiating

C) guiding buyers by race (illegal)

D) advertising

Question 12

What is LTV?

A) lease term value

B) land title verification

C) loan-to-value ratio

D) listing traffic volume

Question 13

What is a CMA?

A) inspection

B) survey

C) comparative market analysis

D) appraisal

Question 14

What is an appraisal?

A) inspection

B) listing

C) professional value opinion

D) offer

Question 15

What is PMI?

A) title insurance

B) insurance for low down payments

C) flood insurance

D) property tax

Question 16

What is escrow?

A) commission

B) down payment

C) tax

D) neutral third-party holding

Question 17

What is a deed?

A) ownership transfer document

B) offer

C) loan paper

D) lease

Question 18

What is a warranty deed?

A) quitclaim

B) lease

C) option

D) guarantees clear title

Question 19

What is a quitclaim deed?

A) loan

B) transfers whatever interest exists

C) full warranty

D) lease

Question 20

What is title insurance?

A) life insurance

B) flood policy

C) protects against title defects

D) home warranty

US Real Estate Texas Test 5

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