AYPO Real Estate Principles of Real Estate I UPDATED Exam Questions and CORRECT Answers
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Course
AYPO Real Estate Principles of Real Estate
Institution
AYPO Real Estate Principles Of Real Estate
AYPO Real Estate Principles of Real Estate
I UPDATED Exam Questions and
CORRECT Answers
TREC has the authority under TRELA to suspend or even revoke a broker's license if: -
Correct Answer- They conduct the unlawful practice of law
ESAC stands for: - Correct Answer- Education Standards Advis...
What refers to a location from an economic rather than a geographic standpoint? - Correct
Answer- Situs.
Which amendment guarantees that a citizen will not be deprived of property without due
process of law? - Correct Answer- 5th Amendment.
The CFPB is the: - Correct Answer- Consumer Financial Protection Bureau
A professional organization or association is usually a not-for-profit organization that seeks
to: - Correct Answer- further a particular profession and the interests of individuals engaged
in that profession.
A contraction or generally slowing down of the economy is a: - Correct Answer- Recession.
What is the primary purpose for real estate licensing laws? - Correct Answer- 1. To protect
the general public during real estate transactions from dishonest or incompetent brokers and
sales agents.
2. To set out minimum standards and qualifications for licensing brokers and sales agents.
3. To protect licensed brokers and sales agents from unfair or improper competition.
Per 1101.2051(b), information or material prepared or compiled by the commission in
connection with a complaint, investigation, or audit may be disclosed: - Correct Answer- to
the respondent of the complaint.
, What type of property category includes churches, other places of worship, schools and
colleges, cemeteries and certain government-held properties? - Correct Answer- Special-
purpose.
Emblements are best described by which of the following? - Correct Answer- Harvestable
plants, trees, and uncultivated vegetation.
A manufactured home can be considered real property if: - Correct Answer- 1. both the Texas
Department of Housing and Community Affairs and the home's county's chief tax appraiser
have been notified of the filing
2. a certified copy of the "Statement of ownership and location" for the home has been filed
by the owner in the real property records of the county where the home is located
3. the owner of the home has elected to treat the home as their real property
The number one reason that people move is: - Correct Answer- Employment opportunity
How much money can a first time homebuyer draw from his or her own IRA without tax
penalty for the purchase? - Correct Answer- $10,000
According to the Texas Department of Insurance, most homeowners policies in Texas include
which of the following coverages? - Correct Answer- 1. Loss of use.
2. Medical payments.
3. Dwelling.
A C.L.U.E. report advises a consumer on: - Correct Answer- up to seven years of claims
history on a property
Prior to the introduction of the condominium concept, property ownership had been limited to
ownership of... - Correct Answer- Land.
All the meanings of agent and agency refer to someone who does which of the following?
(Best answer.) - Correct Answer- Acts on behalf of someone else to perform a task or range of
tasks.
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