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Principles of Real Estate in TX I (answers 2024 latest update).
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Principles of Real Estate in TX I (answers 2024 latest update).
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Principles ofReal Estate in TX
I (answers 2024
latest update)
The initials NAR stand for:
a. National Rifle Association
b. National American Real Estate Owners
c. National Association of Realtors
d. Nonaligned Realtor PAC - answer c.
National Association of Realtors
A REALTOR is BEST described as an individual
who is
A. A real estate professional who acts as a
point of contact between two or more people
in negotiating the sale, purchase, or rental of
property
,B. Any real estate professional who assists
buyers, sellers, landlords, or tenants in any
real estate transaction
C. A member of the National Association of
Real Estate Brokers who specializes in
residential properties
D. A real estate licensee and a member of the
National Association of REALTORS (NAR) -
answer D. A real estate licensee and a
member of the National Association of
REALTORS (NAR)
Which term refers to working with the parties
in negotiating the sale, rental, or purchase of
real estate?
A. Appraisal
B. Consulting
C. Development
D. Brokerage - answer D. Brokerage
Which of the following is true of the NAR?
A. It is the largest trade association in the
real estate industry
,B. Membership is mandatory once licensed by
the state
C. Membership is included in a license
holder's benefits once licensed by the state
D. It is funded by state licensing fees -
answer A. It is the largest trade association
in the real estate industry
Members of the national association of real
estate brokers are called
A. REALTORS
B. Practitioners
C. Realtists
D. Associations - answer C. Realtists
What real estate discipline is represented by
BOMA?
A.BOMA represents real estate brokers in
Beaumont TX
B. BOMA represents brokerage managers
only (excluding brokers who also sell)
C. BOMA represents building owners and
managers
, D. BOMA represents masters-level
accountants who specialize in real estate
transactions - answer C. BOMA represents
building owners and managers
The purpose of the National Association of
REALTORS is to
A. Stop foreign nationals from buying
property in the US
B. keep members up to date on current
housing trends, legal issues, and brokerage
business practices
C. Make sure local zoning boards set
occupancy standards for rental dwellings
D. Bolster and enforce the Consumer
Products Safety Commission concerning
banned furniture, carpeting, and appliances -
answer B. Keep members up to date on
current housing trends, legal issues, and
brokerage business practices
Upon receiving a real estate license in TX,
which organization(s) are license holders
required to join?
A. The national association of REALTORS
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