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AYPO Real Estate Principles of Real Estate I Exam Study Guide Questions with Accurate Answers
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AYPO Real Estate Principles of Real Estate I Exam Study Guide
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AYPO Real Estate Principles of RealEstate I Exam Study Guide
TREC has the authority under TRELA to suspend or even revoke a broker's license if: -
answer They conduct the unlawful practice of law
ESAC stands for: - answer Education Standards Advisory Committee
What refers to a location from an economic rather than a geographic standpoint? -
answers Tus.
Which amendment guarantees that a citizen will not be deprived of property without due
process of law? - answer5th Amendment.
The CFPB is the: - answer Consumer Financial Protection Bureau
A professional organization or association is usually a not-for-profit organization that
seeks to: - 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: - answer Recession.
What is the primary purpose for real estate licensing laws? - answer1. 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: - answerto 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? - answerSpecial-
purpose.
Emblements are best described by which of the following? - answerHarvestable plants,
trees, and uncultivated vegetation.
, A manufactured home can be considered real property if: - answer1. 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: - answerEmployment opportunity
How much money can a first time homebuyer draw from his or her own IRA without tax
penalty for the purchase? - answer$10,000
According to the Texas Department of Insurance, most homeowners policies in Texas
include which of the following coverages? - answer1. Loss of use.
2. Medical payments.
3. Dwelling.
A C.L.U.E. report advises a consumer on: - answerup 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... - answerLand.
All the meanings of agent and agency refer to someone who does which of the
following? (Best answer.) - answerActs on behalf of someone else to perform a task or
range of tasks.
An appointed licensee must do which of the following? - answerNot disclose that an
owner would accept a price lower than the asking price
Which of the following fulfills Section 1101.806 of TRELA requirements for
compensation? - answerThe agreement to pay was in writing and signed by the party to
be charged
Multiple real estate brokerages establishing an across-the-board 6% commission for
their agents would be guilty of... - answerprice fixing.
Which of the following are common law fiduciary duties? - answerCare, disclosure,
loyalty, accounting, & obedience
Which of the following is not used as a test to determine whether a statement is mere
"puffing"? - answerThe cost of the good or service
The term "false, misleading, or deceptive acts or practices" includes, but is not limited to
which of the following acts? - answer1. Using deceptive representations or designations
of geographic origin in connection with goods or services
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