Principles of Real Estate Questions With Correct Answers.
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Course
CHAMPIONS School of Real Estate
Institution
CHAMPIONS School Of Real Estate
Principles of Real Estate Questions With Correct Answers.
All of the following are participants in the market except:
A. Owner
B. Renter
C. Developer
D. TREC
D. TREC
In order to apply for a broker's license in Texas, the applicant must have been licensed in Texas as a salesperson with a...
Principles of Real Estate Questions With
Correct Answers.
All of the following are participants in the market except:
A. Owner
B. Renter
C. Developer
D. TREC
D. TREC
In order to apply for a broker's license in Texas, the applicant must have been licensed in Texas as a
salesperson with an active license for:
A. 5 years of the previous 60 months
B. 3 years of the previous 48 months
C. 2 years of the previous 36 months
D. 4 years of the previous 60 months
D. 4 years of the previous 60 months
Professions that require a real estate license are:
A. Apartment locating, residential brokerage
B. Farm brokerage, commercial property manager
C. Inspector, appraiser
D. Both A and B
D. Both A and B
Easements, rights-of-way, and condominium parking stalls are examples of:
A. Emblements
B. Trade fixtures
C. Riparian rights
D. Appurtenances
D. Appurtenances
The tests of a fixture include the method of annexation to the real estate, adaptation to a particular
use of the premises, AND:
A. Seizin
B. The intention of the parties
C. Further assurance of the owner
D. Riparian rights
B. The intention of the parties
Which of the following would be considered a fixture because of the manner of it's attachment to the
property?
A. A fireplace grate
B. A set of fire tools for the fireplace
C. Entry area rug
D. Water heater
D. Water heater
Many homeowners' insurance policies can also cover:
A. Personal liability
B. Loss of Use
,C. Medical payments
D. All of the above
D. All of the above
The amount of capital gain exclusion on a residence for a single person is__________.
A. $500,000
B. $250,000
C. $100,000
D. There is no capital gains exclusion for single persons
B. $250,000
What is a "CLUE" report?
A. It is a report of all the insurance claims made on a property
B. It is a way for the appraiser to make an accurate valuation of the property
C. It is an acronym for Client Loan Underwriting Evaluation
D. It is the term used to convey title to the new owner
A. It is a report of all the insurance claims made on a property
The amount of commission to be paid to the broker for selling a property is:
A. Set by state law
B. Negotiated at the time a buyer is found
C. Set forth in the rules of the state Real Estate Commission
D. Stated in the listing contract
D. Stated in the listing contract
Fiduciary responsibilities of an agent to his principal include all of the following EXCEPT:
A. Obedience
B. Loyalty
C. Accounting for funds or property received
D. Legal advice
D. Legal advice
If the seller asks their listing agent to not disclose the fact that the septic system is not working and
that if the property goes under contract the seller will fix the septic, what should the agent do?
A. Explain to the seller that the seller is required to disclose that fact and should get the septic system
repaired now.
B. The agent should ignore the fact that the seller told him not to disclose that.
C. Not take the listing
D. Call the broker to see what the broker would do about the situation
A. Explain to the seller that the seller is required to disclose that fact and should get the septic system
repaired now.
All of the following are prohibited by the Fair Housing Act of 1968, as amended, EXCEPT:
A. Discrimination in advertising
B. Denial of availability of housing on the basis of religion
C. Discrimination in terms or conditions for sale or rent
D. Discrimination on the basis of age
D. Discrimination on the basis of age
, The Owner of a single-family house, in which he is currently living, decides he wants to sell. If he does
not use discriminatory language in advertising, has not sold any other house within the past two
years, and does not employ an agent, may he discriminate on the basis of race in selecting a
purchaser?
A. Yes, because the fair housing laws permit discrimination under these conditions.
B. Yes, because the law applies only to sales made by licensed agents.
C. No, because this would be prohibited by the Civil Rights Act of 1866
D. No, because this would be prohibited by the Fair Housing Act of 1968
C. No, because this would be prohibited by the Civil Rights Act of 1866
A licensed real estate agent is offered a listing by an owner who stipulates that she will not sell to any
person of a certain national origin. The agent should:
A. Accept the listing and leave it up to the owner to reject offers from these persons
B. Refuse the listing
C. Report the owner to the real estate department
D. File a complaint against the owner with HUD
B. Refuse the listing
After Jan has been an active salesperson for 4 years, she becomes a broker and has several sponsored
salespersons. She must do CE. Subchapter I requires:
A. She does 30 classroom hours of education every year
B. Her to have at least six classroom hours of broker responsibility education
C. No continuing education for a broker
D. To take another state test
B. Her to have at least six classroom hours of broker responsibility education
The Texas Real Estate Commission may suspend or revoke a license or take other disciplinary action
authorized by Chapter 1101 if the license holder, while acting as a broker or salesperson:
A. Acts negligently or incompetently
B. Commingles money that belongs to another person with the license holder's money
C. Solicits, sells or offers for sale real property by means of a lottery
D. All of the above
D. All of the above
Who does NOT need a license?
A. A person who offers to lease real estate for compensation
B. A person who offers to sell her own property
C. A person who offers to exchange real estate for compensation
D. An apartment finder for compensation
B. A person who offers to sell her own property
The Texas Real Estate Commission consists of _________. The commission members serve for
__________ terms.
A. 9 members — 6 year
B. 6 members — 9 year
C. 13 members — 6 year
D. 6 members — 13 year
A. 9 members - 6 years
An acre has how many square feet?
A. 24,970
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