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TEXAS REAL ESTATE BROKERAGE SAE FINAL
EXAM AND PRACTICE EXAM|2025-2026|ACTUAL
500+ EXAM QUESTIONS&ANSWERS|A+ RATED
Alison, an aspiring business proprietor, and her team have done all the upfront work and now they are ready to draft the official planning document for Honesty Homes. She knows that the document will be unique to her business, but there are certain components that are standard and must be included. Which of the following is a standard component of a business plan document? - ...ANS:->>...executive summary Which of the following statements regarding employment-at- will is true? - ...ANS:->>...Employment-at-will is a doctrine that's used in all states, but each state may apply it differently. Under which types of agency agreement may a buyer and agent operate? - ...ANS:->>...Open, exclusive right to represent, and exclusive agency Darius reviews the items on his sales meeting agenda. He wants to make sure that his associates see the meeting as time well spent, so he checks that all agenda items. - ...ANS:->>...Will help his licensees perform better or more easily Which step of the hiring process allows the dealer to evaluate a small number
of the most competitive candidates? - ...ANS:->>...interviewing Charlotte is a supervising dealer who has two employees, as well as 15 licensees who are affiliated with her as independent contractors. To which of these people is she legally required to give an annual performance review? - ...ANS:->>...none of them Business goals should be attainable. What does this mean in terms of SMART goals? - ...ANS:->>...Challenging yet realistic and based on actual data. A is an obligation to pay someone an amount that's due. - ...ANS:->>...liability Fictitious business names alleviate some name selection concerns but raise other issues. Which of the following might be a concern with a fictitious business name? - ...ANS:->>...It must be registered with the state. Which gross domestic product, used to represent inflation, is best defined as a measurement of average prices consumers paid for goods and services in a given month? - ...ANS:->>...consumer price index
Which of the following must be included in a buyer agency agreement? - ...ANS:->>...The licensee's duties and responsibilities to the buyer According to the NAR Code of Ethics, what responsibility do licensees have related to material facts? - ...ANS:->>...Make a reasonable effort to ascertain all material facts concerning each property for which an agency is accepted. What is the primary purpose of your firm's logo? - ...ANS:->>...Immediate recognition Marissa wants to be sure her listings are available to buyers' dealers, so she puts the alarm code in the MLS listing, but only in the remarks that can be read by other licensees. Do you see an issue with this? - ...ANS:->>...Yes, because the printed copy of the agent-only remarks could fall into the wrong hands. Which of the following is true about the order in which photographs should appear in the MLS and on other sites? - ...ANS:->>...Show pictures in order, as if giving a tour of the property. Which of the following would be helpful in preparing a financial forecast for next year? - ...ANS:->>...Income statements Which of the following best describes a dealer's supervisory requirements? - ...ANS:->>...Varied
On a scale of 1 to 3, with 3 being high, TLC Realty has assigned a level 3 to likelihood of occurrence and a level 3 to severity of impact for a specific risk. What is its risk exposure? Is this a high, medium, or low level of risk? - ...ANS:->>...9, high The Canons of Professional Ethics and Conduct are divided into five sections: fidelity, integrity, competency, consumer information, and. - ...ANS:->>...Discriminatory practices Which special lease clause stipulates increased rental rates at specific times during the lease term, or requires tenants to pay a proportionate amount of the overall increased utility expense, in addition to their base rent? - ...ANS:->>...Escalation Which of the following individuals would be a competent party to a contract?
- ...ANS:->>...Graciella, a 28-year-old unemployed parolee Which of the following is a characteristic of a formal organization? - ...ANS:-
...follows the rules Which of the following is the most appropriate office configuration decision? - ...ANS:->>...Match the configuration with business needs. Some MLS systems now allow licensees to include a building's LEED certification level. This is an example of a response to which current trend? - ...ANS:->>...sustainability
A is a type of real estate dealerage that's usually run as a subsidiary to a full-service dealerage. - ...ANS:->>...Limited function referral organization (LFRO) Which of the following represents a reason for maintaining complete transaction files? - ...ANS:->>...Files can be used for operations analysis. A thorough understanding of the , regulatory, and business environments is needed to fully analyze the market. - ...ANS:->>...Economic A fixed expense. - ...ANS:->>...Isn't impacted by sales Which of the following acts protects Texas consumers against real estate licensees who use false, misleading, or deceptive actions or practices in the advertising, offering for sale,
selling, or leasing of personal property or real property? - ...ANS:->>...DTPA Why should a business proprieter evaluate the competition's affiliations? - ...ANS:->>...To determine what help or hindrance the association provides A small dealerage isn't required to comply with anti- discrimination laws enforced by the Equal Employment Opportunity Commission, but it still has strict policies in its dealerage manual regarding discriminatory behavior at the dealerage. Why? - ...ANS:->>...Because other state and federal laws, beyond those enforced by the EEOC, can put the dealerage in legal trouble if discrimination occurs there The Occupational Safety and Health Act primarily addresses the rights of which classification of employees? - ...ANS:->>...Employees You're a dealer, and lately you've noticed that three of your licensees seem to be constantly sniping at each other. It's affecting everyone at the dealerage. What should you do? - ...ANS:->>...Talk to them each individually to clarify the situation. Which of these scenarios would best be solved with short- term financing? - ...ANS:->>...Your forecast shows that you won't be able to fully fund
advertise or sell real estate Who has the most valuable information about your firm's operations to assist in identifying potential risk? - ...ANS:->>...You and your staff Dominic works for Omen Dealerage. He's responsible for supervising the activities of licensees and unlicensed employees at the office. In which staffing category does his position fall? - ...ANS:->>...Manager Janine took a photograph of a lovely, sweeping estate and, with the approval of her dealer, wants to use the photo as her logo. Which of the following would a graphic artist indicate is the primary concern? - ...ANS:->>...The complexity of the image Which of the following is a true statement about a dealerage's building safety? - ...ANS:->>...Tall hedges near the entrance pose a problem. Which of these is an action a dealer should take after a sales meeting? - ...ANS:->>...Send out a recap of the key points from the meeting to all associates Minimum wage requirements for employees are established in the federal. - ...ANS:->>...Fair Labor Standards Act (FLSA) Which of the following gross domestic products most closely relates to
consumer confidence? - ...ANS:->>...CCI Which is most closely related to the dramatic increase in the number of touches you must have in order to be remembered by your target audience? - ...ANS:->>...The general bombardment of messages everyone receives daily Sam and Monique knew that the old industrial site that they purchased needed some environmental cleanup, but they don't have the cash and put cleanup on hold. The EPA hired its own crew to deal with groundwater issues because of industrial solvents and billed Sam and Monique $164,000 when the job was complete. If Sam and Monique don't pay the bill, which one of the following could happen? - ...ANS:->>...The EPA can seek damages in court for up to three times the actual cleanup costs. When a sales contract doesn't cover the terms needed by the parties, which of the following actions is a licensee allowed to take? - ...ANS:->>...Add a standard addendum using standard language. Five competing dealerage firms in the same area agreed to cooperate in setting a standard commission rate for the area. This makes them guilty of a per se antitrust violation. What is a per se antitrust violation? - ...ANS:->>...No intent needs to be proven Rich is a individual entrepreneurwho has no staff. If he grows his business to a
Rita, the proprieter of Advantage Realty, wants her dealerage to give clients an impression of a boutique agency where salespeople work as a smoothly functioning unit to achieve clients' goals. What is her best strategy for achieving this? - ...ANS:->>...Maintain a small staff of carefully chosen licensees who can work together successfully. Reese and his staff have developed an engaging, action- oriented listing presentation to present to potential sellers. Which component in the marketing model does the listing presentation represent? - ...ANS:-
...Communicating Sari, a licensee for Tynan Realty, is placing a listing ad in the Presbyterian Outlook. Is this a potential fair housing violation? - ...ANS:->>...Yes, unless she also places the ad in publications that reach a broader market. Which of the following describes a benefit of a long-range plan? - ...ANS:->>...It provides a strategic method for accomplishing set business goals. What's a downside for a dealerage that opts for a national affiliation? - ...ANS:- ...Less decision-making authority James is placing a listing ad for a soon-to-be-built expensive home in a gated community. He includes the words "exclusive" and "ultra-conservative community" in his ad. Is James in danger of violating fair housing law? -
...ANS:->>...Yes, because it implies that the listing is suitable only for a particular type of buyer. Why are managers at a dealerage usually salaried employees?
- ...ANS:->>...Because their activities support the work of others rather than generating revenue directly Vince's job at the dealerage is to greet customers and clients who walk in, ANS:->> the phone, and direct people to an agent. In which staffing category does his position fall? - ...ANS:->>...Clerical/administrative Jill is selling her property and hired David as her agent. David brings another client, Kirk, to see the property, which Kirk is interested in purchasing. What kind of agent is David acting as in this scenario? - ...ANS:->>...a dual agent Learning how to create is an essential skill for licensees as part of business planning. - ...ANS:->>...Goals and benchmarks Why should a business evaluate its competition? - ...ANS:->>...To understand its strengths and weaknesses A breaks a more general budget line item into details, making it easier to use in guiding business operations. - ...ANS:->>...Variable expense budget
competing for the same position. Which of the following is considered a key factor in driving the real estate market? - ...ANS:->>...The economy Matt is an unlicensed personal assistant. He may. - ...ANS:->>...Place advertising approved by the dealer Most dealerage managers are. - ...ANS:->>...salaried Why do most people move? - ...ANS:->>...Change in employment Select the risk that is more industry-specific rather than general in nature. - ...ANS:->>...Violation of fiduciary duties The responsibilities of a dealer-proprieter - ...ANS:->>...managing and training people, ensuring licensees maintain their licensure and don't violate any laws or regulations, and ensuring the company's profitability. The rewards of being a dealer-proprieter - ...ANS:->>...proprietership control of the firm, equity in the company, and sharing associated licensees' commissions. Current trends in real estate - ...ANS:->>...greener homes, mixed-use
developments, increased density, and senior housing. new business models, reliance on technology, and niche marketing. Job growth for real estate licensees is predicted to increase by six percent between 2016 and 2026, which is about the average for most careers. - ...ANS:->>... Geographic expansion - ...ANS:->>...widening exposure through networks or listing services, or physically opening a new office location. Horizontal expansion methods - ...ANS:->>...widen the audience for services already provided, and may include geographic, sector, or service expansion. Sector expansion - ...ANS:->>...expanding offerings to more additional areas of real estate (e.g., commercial, farming, etc.). General Agent - ...ANS:->>...One who is authorized by a principal to represent the principal in a specific range of matters. ex. property manager special agent - ...ANS:->>...real estate. This means the scope of the authority is restricted to the property transaction. limited agent - ...ANS:->>...An example of a limited agent is an escrow officer, who has limited agency representation with the party. non-agent - ...ANS:->>...A non-agent is a transaction dealer or facilitator. No
market indicators - ...ANS:->>...price levels, vacancy rates, new building permits, inventory turnover rates, and sales volume. CERCLA - ...ANS:->>...established in 1980 as a Superfund to respond to spills that may endanger the public health or the environment, and to clean up abandoned or uncontrolled hazardous waste sites.
The economic value of a piece of land with an endangered species present is less than it would be otherwise because it reduces the amount of land that can be used or developed. - ...ANS:->>... There are three levels of liability under CERCLA: - ...ANS:->>...strict (proprieter is liable), joint and several (each responsible party is liable), and retroactive (current/prior proprieters are liable). If those who are responsible for contamination refuse to pay for a site's clean-up, the EPA can hire its own contractors, then seek damages in court for up to three times the actual clean-up costs. - ...ANS:->>... The presence of wetlands on a site may increase or decrease the appraised value of the land, depending on the circumstances and the intended use of the site. - ...ANS:->>... Under CERCLA, landproprieters can be held responsible for the clean-up costs of hazardous waste, even if they did not cause the waste. - ...ANS:->>... market segments - ...ANS:->>...Locations, cultures, generations, professions, alternative markets, property types, or even lifestyle choices
