Exam (elaborations)
Principles of Real Estate 1- Champions School of Real Estate Exam 2023
Principles of Real Estate 1- Champions School of Real Estate Exam 2023
[Show more]
Content preview
Principles of Real Estate 1- ChampionsSchool of Real Estate Exam 2023
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 - -D.) Modification
-The supply of Real Estate is affected by
A.) Land cost
B.) Building codes
C.) Government regulations
D.) All of these - -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 - -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 - -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 - -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 - -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 - -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 - -D) all of these
-Building, roads and fences are all examples of:
A.) Personal Property
B.) Private Property
C.) Improvements
D.) Public Property - -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 - -C.) Accession
-Effective in 1976, manufactured homes have been built according to a
building code administered by:
A.) Local building departments
B.) State code enforcement
C.) HUD
D.) FHA - -C.) HUD
-Homes that are built in sections according to local building codes and
assembled on the job site are known as:
A.) Trailers
B.) Mobile Homes
C.) Modular Homes
D.) Site built Homes - -C.) Modular Homes
-Manufactured home dealers and sales people in Texas are licensed by:
A.) TREC
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £8.55. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now