Exam (elaborations)
RealEstateU Texas Real Estate Principles Part 1 Final Exam questions with answers.
- Course
- Institution
RealEstateU Texas Real Estate Principles Part 1 Final Exam questions with answers.
[Show more]
Seller
Follow
Content preview
RealEstateU Texas Real EstatePrinciples Part 1 Final Exam questions
with answers.
supply ANS -The amount of goods offered for sale within a given market at a given price during a given
time period.
General Agent ANS -A property manager is an example of what type of agent?
Special Agent ANS -A real estate agent is an example of what type of agent?
Residential, Commercial, and Industrial ANS -The general uses of real property include the following:
Market Comparison Approach ANS -A means of comparing similar type properties would have recently
sold to the subject property is known as:
Surface Rights ANS -Mineral rights are typically considered dominant to which of the following rights
real estate ANS -Land and everything permanently attached to land is defined as
Personal Property ANS -All property that is not land and is not permanently attached to land is known as
Bundle of Rights ANS -The right of exclusion which allows a landowner to prevent others from entering
or occupying their property is included in the
Kitchen cabinets ANS -Which of the following is an example of a fixture
, Intentions of the party, adaption of the item, mold and permanence of house item was attached ANS -
Which of the following is considered a legal test for determining if an item is a fixture or not
customer ANS -This refers to the party the agent brings to the principal as seller or buyer of the
property.
General Agent ANS -An agent with full authority over one property of the principal is known as a
Special Agent ANS -An agent with limited authority to act on behalf of the principal is referred to as a
The agent finds a buyer who is ready, willing, and able to purchase the property. ANS -A seller's agent is
entitled to a commission after
customer ANS -A broker will work for a client and with a
Care ANS -The "C" in the acronym COALD stands for which fiduciary duty?
Assisting with counteroffers. ANS -The fiduciary duty of care when representing a buyer includes
loyalty ANS -A broker must always place his/her client's interests above their own. This is an example of
what fiduciary duty?
disclosure ANS -A seller's broker is required to tell their client any relationship they may have with the
buyer. This is an example of what fiduciary duty?
honesty ANS -Which of the following is owed to a customer by an agent?
condominium ANS -a form of ownership of real property recognized in all states that consists of
individual ownership of some aspects and co-ownership in other aspects of the property is known as
cooperative ANS -Not a form of real property
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Professorkaylee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
85651 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now