Download Texas Real Estate Brokerage SAE Final Exam and Practice Exam 2025 and more Exams Real Estate Management in PDF only on Docsity!
TEXAS REAL ESTATE BROKERAGE SAE FINAL
EXAM AND PRACTICE EXAM 2025 / ACTUAL
EXAM WITH 500+QUESTIONS AND CORRECT
DETAILED ANSWERS/NEWEST VERSION- 2025
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? - ...CORRECT SOLUTION:->>>...executive summary Which of the following statements regarding employment-at- will is true? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...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. - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...none of them Business goals should be attainable. What does this mean in terms of SMART goals? - ...CORRECT SOLUTION:->>>...Challenging yet realistic and based on actual data. A is an obligation to pay someone an amount that's due. - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...consumer price index
What can you learn from figuring out the market share of your target market?
- ...CORRECT SOLUTION:->>>...You can figure out how big of a player the competitors are in your market. Which of the following must be included in a buyer agency agreement? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...Income statements Which of the following best describes a dealer's supervisory requirements? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...9, high The Canons of Professional Ethics and Conduct are divided into five sections: fidelity, integrity, competency, consumer information, and. - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...Escalation Which of the following individuals would be a competent party to a contract?
- ...CORRECT SOLUTION:->>>...Graciella, a 28-year-old unemployed parolee
purchased a franchise How does the Foreign Investment in Real Estate Property Tax Act (FIRPTA) affect real estate? - ...CORRECT SOLUTION:->>>...It requires foreign persons to pay a capital gains sales tax on the sale of their U.S. property. Which legislative act describes the rules that employers must follow when paying workers for overtime? - ...CORRECT SOLUTION:->>>...Fair Labor Standards Act (FLSA) A is a type of real estate dealerage that's usually run as a subsidiary to a full-service dealerage. - ...CORRECT SOLUTION:->>>...Limited function referral organization (LFRO) Which of the following represents a reason for maintaining complete transaction files? - ...CORRECT SOLUTION:->>>...Files can be used for operations analysis. A thorough understanding of the , regulatory, and business environments is needed to fully analyze the market. - ...CORRECT SOLUTION:->>>...Economic A fixed expense. - ...CORRECT SOLUTION:->>>...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,
...CORRECT SOLUTION:->>>...Your forecast shows that you won't be able to fully fund operations in February and March, but the rest of the year looks great. Under what conditions can a licensee contact sellers who are under an exclusive listing agreement with another agent? - ...CORRECT SOLUTION:->>>...Only to arrange a showing to a buyer merge, the transition plan should address retraining and retaining over dismissal and should be established before the merger occurs. - ...CORRECT SOLUTION:->>>...Redundancy Carmen's original one-year commercial lease has ended, and now, with her landlord's permission, she has gone into a month-to-month lease situation. What type of clause was in the original lease agreement that enabled this situation to occur? - ...CORRECT SOLUTION:->>>...Automatic renewal What's the best definition of a direct expense? - ...CORRECT SOLUTION:->>>...An expense that wouldn't exist if no sale had been made What feature of a computer system enables teleconferencing?
- ...CORRECT SOLUTION:->>>...Networking
Because there's likely to be some when companies
The Texas Deceptive Trade Practices-Consumer Protection Act (DTPA) protects consumers against real estate licensees who. - ...CORRECT SOLUTION:->>>...Use lies, misrepresentations, fraud, or other deceptive practices or acts to advertise or sell real estate Who has the most valuable information about your firm's operations to assist in identifying potential risk? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:-
...The complexity of the image Which of the following is a true statement about a dealerage's building safety? - ...CORRECT SOLUTION:->>>...Tall hedges near the entrance pose a problem. Which of these is an action a dealer should take after a sales meeting? - ...CORRECT SOLUTION:->>>...Send out a recap of the key points from the meeting to all associates
a standard commission rate for the area. This makes them guilty of a per se antitrust violation. What is a per se antitrust violation? - ...CORRECT SOLUTION:->>>...No intent needs to be proven Rich is a individual entrepreneurwho has no staff. If he grows his business to a four-agent firm, which of the following can he expect? - ...CORRECT SOLUTION:->>>...Increased revenue Which of the following is an industry trend that a dealerage should track? - ...CORRECT SOLUTION:->>>...Average days on market Marsha is reviewing a market analysis to help her determine the location of her new dealerage office. What data should she look for? - ...CORRECT SOLUTION:->>>...What current tenants pay for rent and utilities What is the purpose of strategic business planning - ...CORRECT SOLUTION:->>>...To help reach the business goal by determining the method by which the goal can be achieved Lena's buyer client Mindy is making an offer on Joe's house. Which party decides how much earnest money to offer? - ...CORRECT SOLUTION:->>>...Mindy There are three methods of dispute resolution: , arbitration, and litigation. - ...CORRECT SOLUTION:-
...Mediation
Rochelle's firm is concerned about its licensees being attacked during showings. Which of the following is the mostly likely source of risk? - ...CORRECT SOLUTION:->>>...Safety When working with new licensees, what's the main advantage of having a physical office space? - ...CORRECT SOLUTION:->>>...You can spend more time with employees. 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? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...Communicating Sari, a licensee for Tynan Realty, is placing a listing ad in the Presbyterian Outlook. Is this a potential fair housing violation? - ...CORRECT SOLUTION:-
...Yes, unless she also places the ad in publications that reach a broader market.
...a dual agent
...Mindy There are three methods of dispute resolution: , arbitration, and litigation. - ...CORRECT SOLUTION:- >>>...Mediation Rochelle's firm is concerned about its licensees being attacked during showings. Which of the following is the mostly likely source of risk? - ...CORRECT SOLUTION:->>>...Safety When working with new licensees, what's the main advantage of having a physical office space? - ...CORRECT SOLUTION:->>>...You can spend more time with employees. 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? - ...CORRECT SOLUTION:->>>...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? - ...CORRECT SOLUTION:->>>...Communicating Sari, a licensee for Tynan Realty, is placing a listing ad in the Presbyterian Outlook. Is this a potential fair housing violation? - ...CORRECT SOLUTION:- >>>...Yes, unless she also places the ad in publications that reach a broader market. >>>...a dual agent Learning how to create is an essential skill for licensees as part of business planning. - ...CORRECT SOLUTION:->>>...Goals and benchmarks Why should a business evaluate its competition? - ...CORRECT SOLUTION:->>>...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. - ...CORRECT SOLUTION:->>>...Variable expense budget What impact do marketing efforts have on sales? - ...CORRECT SOLUTION:->>>...indirect Samantha is a numbers person, and she's determined that for every 100 sales contracts her licensees write, 12% will have some sort of error. Relating this to risk analysis, what does this number represent? - ...CORRECT SOLUTION:->>>...Likelihood of occurrence Which option is of the most concern to licensees and advertising when it comes to the Federal Trade Commission?
- ...CORRECT SOLUTION:->>>...Misleading ads
The Brendon Group is evaluating a new market and wants to know the market's cultural composition. That's likely because
. - ...CORRECT SOLUTION:->>>...The more a dealerage knows about its market, the more easily it can serve it Which of the following is a lagging gross domestic product? - ...CORRECT SOLUTION:->>>...Gross domestic product Which option best describes what an environmental impact statement is? - ...CORRECT SOLUTION:->>>...It describes and analyzes a proposed action that may have a significant effect on the environment. Which of these is an advantage of external recruiting for management positions? - ...CORRECT SOLUTION:->>>...It avoids the distraction of individuals within the firm competing for the same position. Which of the following is considered a key factor in driving the real estate market? - ...CORRECT SOLUTION:->>>...The economy Matt is an unlicensed personal assistant. He may. - ...CORRECT SOLUTION:->>>...Place advertising approved by the dealer Most dealerage managers are. - ...CORRECT SOLUTION:-
...salaried
Horizontal expansion methods - ...CORRECT SOLUTION:->>>...widen the audience for services already provided, and may include geographic, sector, or service expansion. Sector expansion - ...CORRECT SOLUTION:->>>...expanding offerings to more additional areas of real estate (e.g., commercial, farming, etc.). General Agent - ...CORRECT SOLUTION:->>>...One who is authorized by a principal to represent the principal in a specific range of matters. ex. property manager special agent - ...CORRECT SOLUTION:->>>...real estate. This means the scope of the authority is restricted to the property transaction. limited agent - ...CORRECT SOLUTION:->>>...An example of a limited agent is an escrow officer, who has limited agency representation with the party. non-agent - ...CORRECT SOLUTION:->>>...A non-agent is a transaction dealer or facilitator. No agency relationship exists. Vertical expansion - ...CORRECT SOLUTION:->>>...expanding your dealerage's current operations to encompass complementary services. often riskier than horizontal growth because it may require expertise that the business doesn't already possess. organic growth - ...CORRECT SOLUTION:->>>...continuing growth of a
business through the gradual adoption of new services and increases in market share. inorganic growth - ...CORRECT SOLUTION:->>>...is the rapid growth of a business through the acquisition of or merger with another company. Organic and inorganic growth can both be achieved through horizontal or vertical expansion methods. - ...CORRECT SOLUTION:->>>... Dealers can best recognize business opportunities after analyzing market data, studying the competition, and evaluating their organization's strengths. - ...CORRECT SOLUTION:->>>... Market analysis - ...CORRECT SOLUTION:->>>...evaluating local market conditions and indicators, the competition, the regulatory environment, and the demographic market and its needs. gross domestic products - ...CORRECT SOLUTION:->>>...the housing market, GDP, CPI, CCI, and retail and food service sales (MARTS). market indicators - ...CORRECT SOLUTION:->>>...price levels, vacancy rates, new building permits, inventory turnover rates, and sales volume. CERCLA - ...CORRECT SOLUTION:->>>...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.
