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Texas Principles of Real Estate 1: Quiz Questions with Correct Answers CA$18.03   Add to cart

Exam (elaborations)

Texas Principles of Real Estate 1: Quiz Questions with Correct Answers

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  • Course
  • Texas Real estate
  • Institution
  • Texas Real Estate

Texas Principles of Real Estate 1: Quiz Questions with Correct Answers A real estate agent is an example of what type of agent...? Universal Agent General Agent Special Agent Specific Agent - Answer️️ -Special Agent A means of comparing similar type properties, which have recently sold, ...

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  • September 16, 2024
  • 34
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Texas Real estate
  • Texas Real estate
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©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM



Texas Principles of Real Estate 1: Quiz
Questions with Correct Answers


A real estate agent is an example of what type of agent...?




Universal Agent

General Agent

Special Agent

Specific Agent - Answer✔️✔️-Special Agent

A means of comparing similar type properties, which have recently sold, to the subject

property is known as the...?



Cost Approach

Assessment Approach

Income Approach

Market Comparison Approach - Answer✔️✔️-Market Comparison Approach

A contract in which a property owner employs a real estate broker to market the

property described in the contract is known as the...



Agency Disclosure Contract

Purchase and Sales Contract

Closing Contract

Page | 1

, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM


Listing Contract - Answer✔️✔️-Listing Contract

Properties with five or more dwelling units are considered...?



Special Purpose Property

Commercial Property

Industrial Property

Residential Property - Answer✔️✔️-Commercial Property

The amount of goods offered for sale within a given market at a given price during a

given time period is known as...



Demand

GDP

Supply

None of the above - Answer✔️✔️-Supply

The general uses of real property include which of the following...?



Residential

Industrial

Commercial

All of the above - Answer✔️✔️-All of the Above

If a real estate salesperson closes on a transaction, who pays the salesperson their

commission...?



Page | 2

, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM


The Buyer

The salesperson's sponsoring broker

Whatever is stated in the listing agreement

The Seller - Answer✔️✔️-The Salesperson's Sponsoring Broker

A property manager is an example of what type of agent...?



Universal Agent

Specific Agent

General Agent

Special Agent - Answer✔️✔️-General Agent

The employer of an agent is known as the...?



Principal

All of the above

Customer

Escrow - Answer✔️✔️-Principal

The market comparison approach is commonly used for this property type...?



Mixed-use

Industrial

Residential

Commercial - Answer✔️✔️-Residential

Land and everything permanently attached to land is defined as...?

Page | 3

, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM




Bundle of Rights

Real Property

Fixture

Real Estate - Answer✔️✔️-Real Estate

A refrigerator is typically considered...?



Fixture

Real Property

Personal Property

Emblements - Answer✔️✔️-Personal Property

All property that is not land and is not permanently attached to land is known as...?



Personal Property

Real Property

Real Estate

Fixture - Answer✔️✔️-Personal Property

Mineral rights are typically considered dominant to which of the following rights...?



Sub-surface rights

None of the above

Air rights

Surface rights - Answer✔️✔️-Surface Rights

Page | 4

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