Exam (elaborations)
Principles of Real Estate 1- Champions School of Real Estate
Principles of Real Estate 1- Champions School of Real Estate
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Principles of Real Estate 1- ChampionsSchool of Real Estate
a freeway has made commuting to a distant suburban neighborhood easier,
resulting in an increase in new home sales. This increase in sales is an
example of the economic characteristic of
A.) scarcity
B.) Fixity
C.) Situs
D.) Modification Correct Ans - D.) Modification
The supply of Real Estate is affected by
A.) Land cost
B.) Building codes
C.) Government regulations
D.) All of these Correct Ans - D.) All of these
The least important factor affecting demand for real estate is:
A.) Population Growth
B.) Personal Preference
C.) Availability of Credit
D.) Transportation Systems Correct Ans - B.) Personal Preference
A lawsuit was tried on a real estate matter. The judge ruled in the case, citing
the decision of a judge in a similar case that was tried ten years ago. The
judges decision in the case was most likely based upon:
A.) Statutory Law
B.) Civil Law
C.) Common Law
D.) Local ordinance Correct Ans - C.) Common Law
A license holder was tried in a state district court on a complaint arising from
a real estate transaction. The court ruled that, among other transgressions, the
defendant had violated the Texas Real Estate License Act. This decision of the
judge was based upon:
A.) Statutory law
B.) Civil Law
, C.) Common Law
D.) Local Ordinance Correct Ans - A.) Statutory Law
RMLOs in Texas are licensed through:
A.) Texas Real Estate Commission
B.) National Mortgage Bankers Association
C.) Texas Department of Savings and Mortgage Lending
D.) Texas savings and loan board Correct Ans - C.) Texas Department
of Savings and Mortgage Lending
A Freeway has made commuting to a distant suburban neighborhood easier,
resulting in an increase in new home sales. This increase in sales is an
example of the economic characteristics of:
A.) Scarcity
B.) Fixity
C.) Situs
D.) Modification Correct Ans - D.) Modification
Air Rights are commonly leased or conveyed in:
A.) Cell tower leases
B.) Condominiums
C.) Outdoor Advertising
D.) All of these are correct Correct Ans - D) all of these
Building, roads and fences are all examples of:
A.) Personal Property
B.) Private Property
C.) Improvements
D.) Public Property Correct Ans - C.) Improvements
If a tenant fails to remove trade fixtures from the leased premises, the fixtures
become the property of the landlord through:
A.) Remediation
B.) Adverse Possession
C.) Accession
D.) Descent Correct Ans - C.) Accession
Effective in 1976, manufactured homes have been built according to a building
code administered by:
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