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| Claims against licensees that involve providing advice, judgment, or opinion are excluded from DTPA EXCEPT for situations involving misrepresentation, unconscionable conduct, or breach of warranty T/F? |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Which occurs when brokers conspire together to set a standard commission rate rather than letting rate be set by the open market? |
Price Fixing |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| An errors and omissions insurance policy purchased by broker will NOT cover fraud or intentional violations of DTPA T/F? |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| The practice of unfairly excluding brokers from real estate professional associations or withholding patronage from other businesses is known as |
Boycotting the Competition |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Broker found guilty of antitrust violations can receive a maximum of ten years in prison and how much in fines? |
1,000,000 |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| It is customary to make commission payable when? |
the seller delivers the deed |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Advertising, telephone charges and other expenses in a broker's office may be paid by which of the following? |
Both of the above |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Because licensed associates (salespersons) are agents of broker, they should have which with broker? |
Written Agreement |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| An errors and omissions insurance policy purchased by a broker will NOT cover fraud or intentional violations of the DTPA T/F? |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Recovery under DTPA for an act committed knowingly is limited to |
Economic plus anguish damages |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| License Act requires that, in order to earn commission, broker must (1) be licensed, (2) have a written memorandum for a commission, and (3) advise buyer to obtain which kind of insurance or have an abstract examined by an attorney of buyer's choice? |
Title |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Brokers in certain area meet and agree that some brokers will handle residential property under $100,000, others will handle residential property over $100,000, others will handle commercial property, and others will sell condominiums. This is an example of |
Market Allocation |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| For consumer waiver of provisions under DTPA to be valid and enforceable, consumer must NOT be in a significantly disparate bargaining position T/F? |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| To earn commission, broker must do which of the following? |
All of the Above |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| A broker can control what licensed associates do, but NOT how they will do it if associates have the status of |
Independent Contractor |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| In a DTPA suit, consumer must prove presence of fraud; an innocent misrepresentation is NOT actionable T/F? |
F |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Defenses to the DTPA include the impossibility of the broker's knowing that information was false or inaccurate T/F? |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Which covers innocent misrepresentations as well as unfulfilled promises? |
Statutory Fraud |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| In addition to proportionate responsibility for damages under DTPA, defendant may be held jointly and separately responsible for all damages recoverable if defendant's percentage of responsibility is found to be more than what percent? |
50 |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| With exception of which kind of property, the DTPA does NOT apply to transactions that exceed $100,000 where there is a written contract and consumer is represented by legal counsel? |
Residential |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Either party to lawsuit filed under DTPA may file motion to compel mediation of dispute T/F? |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| That people buy at their own risk and should examine property before they buy is expressed by the concept of |
Caveat Emptor |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Attorney who is NOT licensed by the Texas Real Estate Commission (TREC), but performs brokerage services in transaction may NOT be compensated by broker in the form of cash payment, but could be given gifts equal to amount of commission earned T/F? |
F |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Misleading or deceptive practices according to the DTPA include advertising property with no intention of selling property as advertised T/F? |
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gettarb Fri, 22 Oct 2010 23:04:41 GMT |
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| Defenses to DTPA include reasonable offer of settlement within specified time limits T/F? |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| With exception of residential property, DTPA does NOT apply to transactions that exceed $100,000 where there is a written contract and the consumer is represented by legal counsel T/F? |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| It is illegal in Texas for broker to share commission with someone who does NOT have real estate license T/F? |
T |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| Broker may require that employee adhere to regulations concerning such matters as working hours, office routine, and dress or language standards T/F? |
T |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| Agreement between broker and salesperson (licensed associate) does NOT include what duties of salesperson are if agent is an independent contractor T/F? |
F |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| In Texas, real estate licensees who withhold information concerning known latent or hidden defects of property can be held liable for false or misleading statements made about property T/F? |
T |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| Broker may provide rebate of portion of commission to principal in return for referral T/F? |
F |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| Price-fixing is the practice of setting prices for products or services rather than letting competition in open market establish those prices T/F? |
T |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| If broker finds someone who will buy on seller's terms, but seller changes his mind and refuses to sell, broker is generally entitled to commission T/F? |
T |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| Definition of "false, misleading or deceptive acts or practices" is defined in general terms in DPTA T/F? |
F |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| Misleading or deceptive practices according to DTPA include representing that repairs have been done on real or personal property when they have not T/F? |
T |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| In DTPA suit, consumer must prove that deceptive act was producing cause of damages T/F? |
T |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| According to common law, to be entitled to sales commission, selling broker need NOT be able to show that he or she was procuring cause of sale T/F? |
F |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| Broker cannot be held responsible for all real estate activities of licensed associates (salespersons) T/F? |
F |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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| In DTPA lawsuit, each liable defendant will be liable to consumer for full damages regardless of percentage of responsibility T/F? |
F |
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gettarb Fri, 22 Oct 2010 16:24:16 GMT |
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