2021 Edition

Texas Real Estate Practice Exam

Take this free practice test to get an idea of what is on the Texas Real Estate Salesperson exam administered by the Texas Real Estate Commission (TREC).  The actual exam has 125 questions and 2 hours 30 minutes is given to complete it. 
 

1. The Smiths found a home they love and asked their agent to write an offer. Their agent informs them that the sellers are taking a fixture from the dining room and moving it to their new home. What are the sellers removing from the home?
2. Which of the following is a true statement about Texas Homestead Protection law?
3. The economic concept of scarcity is best explained by which example?
4. A local developer saw a two-story office building with a "For Sale" sign. He called the listing agent and asked him to find out the annual net operating income (NOI). Which of the following expresses NOI?
5. Which of the following forms of ownership is best described as "individual ownership"?
6. The best explanation for the meaning of "conventional loan":
7. You receive a phone call from a prospect you spoke with weeks ago and they are now ready to list their home located in Texas. You list the property the next night and before you put up your sign, the neighbors, Mr. and Mrs. Adams, call and ask you to represent them to make an offer on the house. What is your next step?
8. What type of listing reserves the right for an exclusive agent to find a buyer and receive a commission and also allows the seller to find a buyer herself without having to pay a commission?
9. A single-family home being considered by the Powers Family has two parts which are joined by a breezeway that has no HVAC. The bedroom wing has five bedrooms and two bathrooms and is 40' wide and 40' long. The breezeway is 6' wide and 5' long. The living area wing has a living room, dining room, kitchen and laundry room. It is 30' wide and 40' long. What is the gross living area (GLA) of the home?
10. Harry Blackwell owned ten acres on Leaf Creek Dr. The local animal shelter was in need of land to build a new facility for their growing menagerie. Mr. Blackwell, an animal lover, granted his property to the shelter with the condition that it revert back to him or his estate if the shelter ever opted out of its "no kill" policy. What type of estate did Mr. Blackwell create?
11. Pearl wanted to buy her first home in Texas. Her neighbor referred her to his favorite real estate agent, Paula. Pearl and Paula met on Saturday and Paula advised Pearl on local market conditions and then offered to show her a few properties. Next Paula asked Pearl to sign an agreement to establish their working relationship. Which of the following is the agreement Paula used?
12. A typical Buyer Representation Agreement was signed by a buyer and his agent. The agent found a home the buyer wants to purchase but the seller is refusing to pay the buyer's agent a commission. According to the Buyer Representation Agreement, who will ultimately pay the buyer's agent if the buyer proceeds with that house?
13. What year represents the last year that a home may have been constructed using paint containing lead?
14. In mortgage lending jargon, a monthly mortgage payment consists of PITI. Which of the following is NOT a component of PITI?
15. Mi Wu, a landlord, was standing in the front yard of her new property, a duplex in Texas. She saw that Apex Lawncare was mowing next door and when they took a break, she asked one of the workers if they had time to mow her lawn. He answered that they would be delighted to mow her yard too and 30 minutes later they began working at Mi's place. This is an example of:
16. All of the following are hazardous conditions that may affect the health or safety of a residential property owner and must be disclosed if known by a seller in Texas, except:
17. Which of the following are NOT duties or powers of the Texas Real Estate Commission (TREC)?
18. What does it mean if a person dies "testate" under the Texas Estates Code?
19. Which of the following is on the "laundry list" of the Texas Deceptive Trade Practice Act (DTPA)?
20. Ernie, a licensed realtor, signed a buyer representation agreement with Nelda. They began looking at homes. Nelda found one home online and asked Ernie to show her the property. Ernie realized that the listing was one that he had turned down because the seller would not disclose that the property had flooded during the last storm. The weather was beautiful, dry and sunny the day he showed it to Nelda so Ernie did not mention the flood. What rule of ethics, if any, did Ernie violate?
21. What does it mean if an appraisal states that a property is not currently at its "highest and best use"?
22. All of the following are a part of Paragraph 5: Earnest Money and Termination Option in the TREC promulgated One to Four Family Residential Contract (Resale), pertaining to the buyer's option to terminate, except:
23. Which of the following is used by real estate agents to determine the value of a property by comparing similar listed and sold properties?
24. Esther and Mike owned their home in Texas for ten (10) years. They both lost their jobs and were unable to make their mortgage payments for more than a year. Their agent assisted them with completing a short sale. What did the agent do?
25. A person needs a Texas real estate license to perform all of the following acts, except: