20 Free Texas Real Estate Practice Questions

Question 1 · National section

A restaurant leasing commercial space bolts ovens and display shelving to the floor to run its business. Under real estate law, these items are generally classified as:

Question 2 · National section

Two unmarried friends buy a Texas rental house together. The deed names both of them but says nothing about how they hold title, and they sign no other agreement. If one friend dies, what happens to her share?

Question 3 · National section

An appraiser is valuing a home that has no swimming pool. A comparable home that sold for $310,000 is similar in every way except that it has a pool, which the market values at $15,000. What is the comparable's adjusted sale price?

Question 4 · National section

A 17-year-old signs a written contract to buy a vacant lot from an adult seller. The contract is best described as:

Question 5 · National section

A buyer offers $400,000 for a home with closing on June 15. The seller signs the offer but changes the closing date to June 30 and sends it back. The seller's response is:

Question 6 · National section

A sales agent represents the seller of a home. An unrepresented buyer comes to a showing and asks the agent questions about the property. What duty does the agent owe this buyer?

Question 7 · National section

A seller lists her home with a broker. During the listing term, the seller finds a buyer on her own without the broker's help, the sale closes, and the broker is still entitled to a commission. What type of agreement did the seller most likely sign?

Question 8 · National section

A couple asks their agent for homes with good schools in their price range. Because of the couple's religion, the agent shows them only homes in neighborhoods where many residents share their faith and does not mention other homes that fit their needs. This practice is:

Question 9 · National section

Federal lead-based paint disclosure rules apply to the sale of which of these homes?

Question 10 · National section

Texas home loans are typically secured by a deed of trust rather than a mortgage. In a deed of trust, who is the beneficiary?

Question 11 · National section

Under the TRID rules, when must a borrower receive the Closing Disclosure?

Question 12 · National section

A home sells for $350,000. The listing agreement provides for a total commission of 6% of the sale price. What is the total commission?

Question 13 · National section

An apartment building has effective gross income of $120,000 per year. Annual operating expenses are $45,000, and the owner's annual mortgage payments are $30,000. Using a capitalization rate of 7.5%, what is the property's estimated value?

Question 14 · State section

A consumer suffered losses caused by a Texas license holder in one real estate transaction. After exhausting efforts to collect from the license holder, the consumer seeks payment from the Real Estate Recovery Trust Account. What is the most the account will pay for that one transaction?

Question 15 · State section

How many hours of pre-licensing education must an applicant complete to qualify for a Texas real estate sales agent license?

Question 16 · State section

A broker receives funds that belong to a client and deposits them into the brokerage's operating account, which is used to pay office rent and salaries. This is:

Question 17 · State section

A Texas sales agent, through her sponsoring broker, wants to share part of the commission she earned on a sale. Which payment is permitted?

Question 18 · State section

A broker's firm has a listing agreement with a seller and a buyer representation agreement with a buyer who wants to make an offer on that seller's home. Under Texas law, how may the broker represent both parties in this transaction?

Question 19 · State section

A buyer using the TREC One to Four Family Residential Contract paid a $300 option fee and deposited $5,000 in earnest money. During the option period, she changes her mind and properly terminates the contract. What typically happens to the money?

Question 20 · State section

The seller of a single-family home in Texas gives the buyer the Seller's Disclosure Notice two days after both parties sign the sales contract. What right does the buyer have?