I need some assistance on a practice exam for my Texas Real Estate license?

[morcan]

I have about 10 or 15 questions on this practice exam out of 150 thatI have tried to look up and they come with 2 close answers and would hate to study the wrong answer.

Here are the questions! And any help would be appreciated!

The purpose of the Real Estate Recovery Trust Account is to
a. protect the public from dishonest salespeople.
b. provide a source from which to collect unpaid commissions.
c. provide a means by which an injured party can collect a judgment award.
d. provide a mechanism for the Real Estate Commission to recover funds from unethical licensees.

When acting as an agent, a Texas real estate licensee is NOT permitted to
a. draft a sales contract.
b. add to a promulgated contract factual statements and business details desired by the principals.
c. strike from a promulgated contract matter which is desired by the principals.
d. add an addendum to a promulgated contract form.

A broker has an exclusive right-to-sell listing on a building. The owner is out of town for two weeks when the broker gets an offer from a buyer who needs an answer within 24 hours. Under these circumstances the
a. broker may enter into a binding agreement on behalf of the seller.
b. broker may collect a commission even if the transaction falls through because of the seller's absence from the city.
c. buyer is obligated to keep the offer open until the seller returns.
d. broker must obtain the signature of the seller to effect a contract.

The Texas Real Estate License Act requires that
a. every listing contain a definite termination date.
b. every listing be signed by the broker.
c. every listing be written.
d. every listing contain a notice to the seller about subagency.

If a broker who had a 100-day listing contract obtained an earnest money contract signed by all parties on the 90th day but the closing date was not for 30 more days,
a. the broker must get an extension of the term of the listing contract in order to bind the seller to pay the commission.
b. the seller is liable to pay the commission because the broker performed within the term of the listing contract.
c. the broker must obtain permission from the seller in order to attend the closing.
d. the broker must consult the rules of the local Association of REALTORS to determine his position with respect to collecting the commission.

An appraiser who is using the sales comparison approach to value would use all of the following comparable properties EXCEPT a similar home that was
a. sold recently but is located in another similar neighborhood.
b. sold by the owners who were undergoing a foreclosure.
c. sold recently but is located on a larger lot.
d. sold recently but has a double-car garage and the subject property has a carport.

When estimating the value of property using the cost approach, all of the following would be considered by the appraiser EXCEPT the
a. loss of value due to uncollected delinquent rent.
b. estimated loss attributable to an outdated heating system.
c. quality of materials and workmanship in the original structure.
d. current condition of the roof and other elements of the property's exterior.

Reconciliation is an appraisal term used to describe
a. an average of real estate values for properties similar to the subject property.
b. the appraiser's analysis and comparison of the results of each appraisal approach.
c. the method used to determine the most appropriate capitalization rate for a property.
d. the analysis of the property's highest and best use.


Which way to advertise loan terms is legall
a. $499 per month
b. $1,000 down
c. 8% nominal interest rate
d. Assumable mortgage

All of the following are true about adverse possession EXCEPT
a. the person taking possession of the property must do so without its owner's consent.
b. occupancy of the property must be continuous over a specified period of time.
c. the person taking possession must compensate the owner at the end of the possessory period.
d. the person taking possession of the property must use the property openly.