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Chapter 15 - Principles II

Pioneer School of Real Estate
Horizontales
To be eligible to receive a license each person must be a U.S Citizen or a/an __ admitted alien.
The presiding officer of the Texas Real Estate Commission is designated by the __.
The Texas Real Estate Broker-Lawyer Committee consists of __ members.
Licensed agents must renew their license every __ year(s).
An applicant for a broker license must provide to the commission satisfactory evidence that the applicant has had at least __ years of active experience as a license holder during the 60 months preceding the date the application is filed.
Texas Real Estate Commission members serve __ six-year terms.
An applicant for a license must submit __ and have a background check.
Time limit an applicant has to pass the real estate exam after submitting their license application is __ year(s).
__ represents the inventory of real estate that is unoccupied at any given time.
The commission may suspend or revoke a certificate of registration issued if the certificate holder demonstrates __.
Contract forms must contain safeguards to protect the __ in the transaction.
__ is America's largest trade association.
__ assistant cannot answer any questions from a prospective buyer at an open house.
__ was passed by the Texas Legislature in 1949.
A/An __ can auction property without a license.
The biggest impact of the economy on the real estate market has to do with __ and demand.
The amount of an administrative penalty may not exceed $5,000 for __ violation.
A/An __ entity can hold a license and act as a broker as long as the license is active and issued by the Commission.
If demand increases relative to supply, price __.
Verticales
To be eligible for a license a business entity must designate one of its managing officers as its __.
__ means The Texas Real Estate Commission.
A licensed sales agent may not engage or attempt to engage in real estate brokerage unless the sales agent is sponsored by a/an __ broker.
__ checks are always paid to the broker, not the agent.
Listing contracts must state real estate commissions are __.
The four basic phases of the real estate cycle are recovery, __, hyper-supply, and recession.
A license holder who supervises agents must take the six hour broker __ education course.
A/An __ manager must follow TRELA.
If supply increases relative to demand, price __.
The Broker-__ Committee prepares the contract forms that are used by license holders.
__ in use satisfies the want or desire.
How many members are serving on the Texas Real Estate Commission?
If someone fails the real estate exam __ times in a row they must submit evidence satisfactory to the commission that the applicant has completed additional education.
Education provider passage rates are posted on the __ website.
If a person's license has been expired for __ months or longer, the person may not renew the license.