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Aceable Agent- Principles of Real Estate Exam 1 FINAL Texas Questions with Correct Answers
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Aceable Agent- Principles of Real Estate Exam 1FINAL Texas Questions with Correct Answers
Exclusive right to sell Correct Answer-agreement guarantees the agent's
brokerage receives a commission if the property is sold, regardless of
who brings the buyer
Lead based paint Correct Answer-An agent is listing a property built in
1964. The agent is required by federal law to provide the buyer with a
disclosure on which environmental hazard
In Writing Correct Answer-For a listing agreement to be enforceable in
court, it MUST be:
Trust Tenancy Correct Answer-Which one of the following is NOT a
type of co-ownership?
limited partnership Correct Answer-When a business has general
partners that oversee the day-to-day activities of the business and other
partners that are only investors and ONLY have liability up to the
amount of their investments
creditors Correct Answer-Texas homestead laws protect homeowners
from:
abstract of title Correct Answer-What is the history of the title to a
property called?
,Littoral rights Correct Answer-Buyer Alex is looking at a lakefront
property. He has questions about whether he would be allowed to access
and use the lake. What kind of rights is Alex wondering about?
Riparian Rights Correct Answer-Rights that govern the use of flowing
water, such as rivers and streams that pass through or border a property
are known as:
cloud on title Correct Answer-Winston and Ally purchased a home
together, but both remained on the title after their divorce, even though
Ally got the house to herself. While trying to sell the house, it is
discovered that Winston is still considered an owner.
This is an example of what type of encumbrance?
sue for compensatory damages, specific performance or both Correct
Answer-When there is a breach of contract, the non-breaching party can
rescind the contract, forfeit the contract, or:
Air Lot Correct Answer-space above a parcel of land called
contour maps Correct Answer-Where can developers find information
about the terrain and elevation for a given parcel
rectangular survey method Correct Answer-Choose the survey method
that could result in this legal description: "SW 1/4 of the NE 1/4 of the
NW 1/4 of Section 2, Township 8 South, Range 3
, bench mark Correct Answer-A monument used to establish the elevation
of the point, usually relative to Mean Sea Level. It is permanent.
government survey system Correct Answer-A method of specifying the
location of a parcel of land using prime meridians, base lines, standard
parallels, guide meridians, townships and sections is known as the...
range Correct Answer-A strip or column of land six miles wide,
determined by a government survey, running in a north-south direction,
lying east or west of a principal meridian is known as a
Metes and Bounds Correct Answer-Land in Texas was originally
identified by
all of the above Correct Answer-Which of the following is an example
of a monument...?A) A treeB) A postC) A streamD) All of the above
metes & bounds Correct Answer-Describes the perimeter of the subject
property in terms of boundaries directions and distance
what objects are used to mark surveys Correct Answer-A natural object
such as a Tree or stream in rural settings but generally they are manmade
like post, stakes, or iron pikes.
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