TEXAS REAL ESTATE BROKERAGE SAE FINAL EXAM AND PRACTICE EXAM NEWEST 2024 ACTUAL EXAM 450 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

Alison, an aspiring business owner, 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? - ...ANSWER...executive summary
Which of the following statements regarding employment-atwill is true? - ...ANSWER...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? - ...ANSWER...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 ______. -
...ANSWER...Will help his licensees perform better or more
easily
Which step of the hiring process allows the broker to evaluate
a small number of the most competitive candidates? -
...ANSWER...interviewing
Charlotte is a supervising broker 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? - ...ANSWER...none
of them
Business goals should be attainable. What does this mean in
terms of SMART goals? - ...ANSWER...Challenging yet
realistic and based on actual data.
A ______ is an obligation to pay someone an amount that's
due. - ...ANSWER...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? -
...ANSWER...It must be registered with the state.
Which economic indicator, used to represent inflation, is best
defined as a measurement of average prices consumers paid
for goods and services in a given month? -
...ANSWER...consumer price index
Tristan refused to let Marla list his property on the MLS, even
though Marla told him that more exposure to the property
would generate more potential buyers. Which two fiduciary
duties are at odds in this situation? - ...ANSWER...Reasonable
skill and care and obedience
escrow officer - ...ANSWER...is a limited agent because the
role is limited to assisting the parties with the closing , but not
providing advice to either party.
How is a brokerage checklist commonly used? -
...ANSWER...It provides steps that both new and experienced
agents can follow
A broker is training all affiliated licensees on a recent change
in fair housing laws. Why should she deliver the training to
new licensees separately from experienced salespeople? -
...ANSWER...To prevent new people from getting lost in
details they don't understand, and to save experienced people
from sitting through explanations they don't need
Which one of these examples creates vicarious liability for the
brokerage? - ...ANSWER...The brokerage's licensee neglects
to provide required disclosures to a client.
What can you learn from figuring out the market share of your
target market? - ...ANSWER...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? - ...ANSWER...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? - ...ANSWER...Make
a reasonable effort to ascertain all material facts concerning
each property for which an agency is accepted