121 Principles of Real Estate Final Exam Review EXAM QUESTIONS AND ANSWERS 100% CORRECT!
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Course
121 Principles of Real Estate
Institution
121 Principles Of Real Estate
1. The listing is always taken in the name of the _________ and becomes the property of the
___________.
A. Broker—salesperson
B. Salesperson—seller
C. Broker—broker
D. Broker—seller - ANSWER C. Broker- broker
A deed is used to transfer ownership of real estate. A bill of sale w...
,121 Principles of Real Estate Final Exam
Review EXAM QUESTIONS AND
ANSWERS 100% CORRECT!
1. The listing is always taken in the name of the _________ and becomes the property
of the
___________.
A. Broker—salesperson
B. Salesperson—seller
C. Broker—broker
D. Broker—seller - ANSWER C. Broker- broker
A deed is used to transfer ownership of real estate. A bill of sale would be used to
transfer ownership
of:
A. A mortgage
B. Personal property
C. A deed of trust
D. A house and 2 acres of land - ANSWER B. Personal property
The life tenant in a life estate is not allowed to:
A. Pay the property tax on the property
B. Commit waste by destroying or harming the property
C. Lease the property and keep the rent
D. Improve the property - ANSWER B. Commit waste by destroying or harming the
property
The Education Standards Advisory Committee is made up of:
A. 12 members
B. 13 members
C. 9 members
D. 14 members - ANSWER A. 12 members
The government receives the authority to take the property of one who dies without a
will and without
heirs by virtue of:
, A. Laws of agency
B. Eminent domain
C. Police power
D. Escheat - ANSWER D. Escheat
When someone owns property to the exclusion of all other persons, this person is said
to hold the
property in:
A. Personality
B. Severalty
C. Common
D. Secret - ANSWER B. Severalty
One who is given a power-of-attorney that allows them to sign the name of a principal
to a contract of
sale is a(n):
A. Attorney-in-fact
B. Broker with a listing
C. Special agent
D. Attorney at law - ANSWER A. Attorney-in-fact
TRELA does not apply to:
A. An attorney licensed in this state
B. An on-site manager of an apartment complex
C. A public official while engaged in official duties
D. All of the above - ANSWER D. All of the above
The most widely recognized aspect of joint tenancy is the:
A. Right of equal interest
B. Right of equal use
C. Right of survivorship
D. Simultaneous creation of ownership - ANSWER C. Right of survivorship
An applicant who fails an examination:
A. May apply for reexamination but must wait 7 days before retaking the national portion
of the test.
B. Must retake and pass a 30-hour principles class before applying for reexamination.
C. Will only be allowed to retest after a six-month wait.
D. May apply for reexamination by filing a request accompanied by the proper fee. -
ANSWER D. May apply for reexamination by filing a request accompanied by the
proper fee.
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