Principles of Real Estate 1 Final Exam
A broker's compensation is - Correct Answer Negotiable
A division of real or personal property or the proceeds therefrom among co-owners is known as? - Correct Answer
partition
A fee simple estate is an example of which of the following estates...? - Correct Answer Freehold estate
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 a? - Correct Answer Condominium
A joint tenancy is terminated when which of the following ceases to exist...? - Correct Answer Interest, Title,
Posession
A lien imposed against property without consent of an owner is referred to as a/an...? - Correct Answer involuntary
lien
A means of comparing similar type properties, which have recently sold, to the subject property is known as the? -
Correct Answer Market Comparison Approach
A mortgage payment typically includes? - Correct Answer Interest
Principal
Insurance
A real estate agent is an example of what type of agent? - Correct Answer Special agent
A real estate broker is authorized to perform which of the following acts...? - Correct Answer Identify properties for
purchase or lease
Deal or sell options on real estate
Auction off real estate
A refrigerator is typically considered? - Correct Answer Personal Property
A right acquired by one party to use the land of another party for a special purpose is known as a...? - Correct Answer
Easement
An agency relationship created by oral or written agreement between the principal and the agent is known as? -
Correct Answer Express agency
An agent must be honest and truthful. This is an example of...? - Correct Answer integrity
An individual who has not owned real property for at least the previous two years is known as a? - Correct Answer
First-time homebuyer
Any medical disorder, condition, disfigurement or loss affecting one of the body systems is known as a...? - Correct
Answer Physical impairment
Blockbusting is also known as? - Correct Answer panic selling
Fidelity, on TRECs canons of professional ethics, implies? - Correct Answer Loyalty
How is ownership in a community property between a husband and wife divided...? - Correct Answer Ownership is
divided equally among the owners
HUD fair housing complaints can be filed in which of the following ways/ - Correct Answer Online
Mail
A broker's compensation is - Correct Answer Negotiable
A division of real or personal property or the proceeds therefrom among co-owners is known as? - Correct Answer
partition
A fee simple estate is an example of which of the following estates...? - Correct Answer Freehold estate
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 a? - Correct Answer Condominium
A joint tenancy is terminated when which of the following ceases to exist...? - Correct Answer Interest, Title,
Posession
A lien imposed against property without consent of an owner is referred to as a/an...? - Correct Answer involuntary
lien
A means of comparing similar type properties, which have recently sold, to the subject property is known as the? -
Correct Answer Market Comparison Approach
A mortgage payment typically includes? - Correct Answer Interest
Principal
Insurance
A real estate agent is an example of what type of agent? - Correct Answer Special agent
A real estate broker is authorized to perform which of the following acts...? - Correct Answer Identify properties for
purchase or lease
Deal or sell options on real estate
Auction off real estate
A refrigerator is typically considered? - Correct Answer Personal Property
A right acquired by one party to use the land of another party for a special purpose is known as a...? - Correct Answer
Easement
An agency relationship created by oral or written agreement between the principal and the agent is known as? -
Correct Answer Express agency
An agent must be honest and truthful. This is an example of...? - Correct Answer integrity
An individual who has not owned real property for at least the previous two years is known as a? - Correct Answer
First-time homebuyer
Any medical disorder, condition, disfigurement or loss affecting one of the body systems is known as a...? - Correct
Answer Physical impairment
Blockbusting is also known as? - Correct Answer panic selling
Fidelity, on TRECs canons of professional ethics, implies? - Correct Answer Loyalty
How is ownership in a community property between a husband and wife divided...? - Correct Answer Ownership is
divided equally among the owners
HUD fair housing complaints can be filed in which of the following ways/ - Correct Answer Online
