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Principles Of Real Estate II Final Exam - Questions & Verified Answers
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Principles Of Real Estate II Final Exam - Questions & Verified Answers
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Principles Of Real Estate II Final Exam - Questions &Verified Answers
Written documents affecting title to real estate are recorded: Right Ans - A.
Where the titleholder resides
B. Where the titleholder has legal residence
C. At the county clerk's office where the property is located
D. At any county clerk's office in Texas
A person appointed by a court to settle the estate of a deceased person when
the executor cannot perform or refuses to perform is: Right Ans - A.
Another executor
B. A legatee
C. An administrator
D. A devisee
What is an abstract of title? Right Ans - A. Title insurance
B. A history of all recorded activity affecting a parcel of real estate
C. A judgement on real property
D. A patent
Property managers have a ____________________ relationship with the property
owner. Right Ans - A. Partership
B. Subagency
C. Binding
D. Fiduciary
A chain of title shows the linkage of property ownership that connects the
present owner to the original source of title. In most cases it starts with:
Right Ans - A. Ownership from 1955
B. Chattel
C. A suit in federal court
D. The original grant of the land from the government to a private citizen
A handwritten will signed by the testator but not witnessed is known as a(n):
Right Ans - A. Noncupative will
B. Holographic will
C. Oral will
,D. Formal will
A voluntary gift of private land to the public is known as: Right Ans - A.
Alienation
B. A dedication
C. Reliction
D. Annexation
The general warranty deed contains: Right Ans - A. The covenant of seisin
B. The covenant against encumbrances
C. Both A and B
D. Neither A or B
In order to convey title to real property, a deed must be signed by the:
Right Ans - A. Grantee
B. Grantor
C. Agent
D. Buyer
Sam has moved onto a property owned by Fred. Sam is not leasing the
property. If Sam holds possession of the property for a long period of time, he
will own the property through: Right Ans - A. Adverse possession
B. Eminent domain
C. Foreclosure
D. Erosion
The Act passed in1968 to protect the consumer from land scams is the:
Right Ans - A. Buyers Land Protection Act
B. Interstate Land Sales Full Disclosure Act (ILSFDA or ILSA)
C. Federal Land and Housing Act
D. Texas Public Ownership
The trustee in a deed of trust: Right Ans - A. Writes the contract for the
buyer
B. Shows the property to the buyer
C. Forecloses on the property in the event of default
D. Collects the monthly payments
, Removing the original borrower's name from the contract and substituting
the new buyers name is called: Right Ans - A. Novation
B. Substitute
C. Covenants
D. Subdividing
The right to redeem the property before a mortgage foreclosure sale is called:
Right Ans - A. Equitable redemption
B. Buyer redemption
C. Statutory redemption
D. This is never used in Texas
The right to redeem the property after a tax foreclosure sale is called: Right
Ans - A. Equitable redemption
B. Buyer redemption
C. Statutory redemption
D. Never used in Texas
The Texas Bootstrap Loan Program: Right Ans - A. Is a self-help housing
construction program for very low-income families
B. Is only for persons over 65
C. Must be built completely by the family
D. Is only for homes costing more than $300,000
The Federal Reserve Bank: Right Ans - A. Is the most common bank seen in
most cities
B. Was created to provide the nation with a more stable monetary and
financial system
C. Provides loans to most residential home buyers
D. Was created in 2013
FHA loans are ______________________ and VA loans are ______________________.
Right Ans - A. Insured by the Federal Housing Administration --- guaranteed
by the Department of Veteran Affairs
B. Backed by conventional banks --- backed by commercial banks
C. Only for people with children --- only for people without children
D. Farm loans --- lake loans
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