Texas Real Estate Sales Agent Exam Flashcards
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Roughly how much testing time should you budget per portion if you split the 240 minutes?
With 240 total minutes across two portions, you have on average about 2 hours per portion — but pacing is flexible since the time is a single shared block.
How long do you have to complete the Texas Sales Agent licensing exam?
240 minutes (4 hours) total for both the National and State portions.
How many questions must you answer correctly to pass the National portion?
56 questions correct on the National examination.
How many questions must you answer correctly to pass the State portion?
28 questions correct on the State examination.
What is the fee to sit for the Texas Sales Agent examination?
$43 for a Sales examination.
The Texas exam has two scored sections — what are they, and must you pass both?
The National portion and the State portion. Both are scored separately, and you must meet the passing threshold on each (56 National / 28 State) to pass overall.
Fiduciary duties an agent owes a client (mnemonic 'OLD CAR')
Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable care. These are heavily tested agency-law concepts.
What is the difference between a general, special, and universal agent?
Special agent: authority for one specific transaction (typical real estate listing). General agent: ongoing authority over a range of tasks (e.g., property manager). Universal agent: broad authority to act in all matters (power of attorney).
What is the 'bundle of rights' in real property ownership?
The rights of Possession, Control, Enjoyment, Exclusion, and Disposition (mnemonic 'PCEED') that come with owning real property.
Fee simple absolute vs. life estate
Fee simple absolute is the highest, most complete ownership — perpetual and inheritable. A life estate lasts only for the life of a named person, after which it passes to a remainderman or reverts to the grantor.
What distinguishes a general lien from a specific lien?
A specific lien attaches to one identified property (e.g., mortgage, mechanic's lien, property-tax lien). A general lien attaches to all of a debtor's property (e.g., judgment lien, IRS lien).
What are the essential elements of a valid contract?
Offer and acceptance (mutual assent), consideration, legal (lawful) purpose, legally competent parties, and — for real estate — a writing that satisfies the Statute of Frauds.
Which federal law prohibits discrimination in housing, and what are its protected classes?
The federal Fair Housing Act. Protected classes: race, color, religion, national origin, sex, disability, and familial status.
What is the difference between joint tenancy and tenancy in common?
Joint tenancy carries the right of survivorship (a deceased owner's share passes to surviving co-owners). Tenancy in common has no survivorship — each owner's share passes to their heirs and shares can be unequal.
What is the doctrine of 'caveat emptor' vs. the modern duty to disclose?
'Caveat emptor' means 'let the buyer beware.' Modern law shifts toward requiring sellers/agents to disclose known material defects, so relying on buyer-beware alone can create liability.