Texas Real Estate Study Questions and 100% Correct Answers
4 views 0 purchase
Course
Texas Real Estate
Institution
Texas Real Estate
A 1031 exchange is:
a. A tax-deferred exchange
b. A duty-free exchange
c. A tax-reduced exchange
d. A tax-free exchange - Answer A tax-deferred exchange
Texas Real Estate Study Questions and 100%
Correct Answers
A 1031 exchange is:
a. A tax-deferred exchange
b. A duty-free exchange
c. A tax-reduced exchange
d. A tax-free exchange - Answer A tax-deferred exchange
Another term for a title search is:
a. Research
b. Due diligence
c. Ratification
d. None of these - Answer Due diligence
When a loan is made on real property, the loan depends on what security?
a. The borrower's personal credit history and character
b. The amount of the earnest money
c. The value of the appreciation over time
,d. The value of the property being purchased - Answer The value of the property being
purchased
This limits the amount the interest rate can increase or decrease over the life of the
mortgage:
a. An interest limit
b. A mortgage cap
c. A fixed cap
d. A life cap - Answer A life cap
A section in real estate is:
a. 7,467 square feet
b. One square mile
c. Thirty six square miles
d. 1,280 acres - Answer One square mile
An agency relationship created by express agreement is created by:
a. Agreement lis pendens
b. Verbal agreement
c. None of these
d. Written agreement - Answer Verbal agreement
, If Leon has a mortgage and decides to transfer title to Derrick but fails to inform the
lender of the title transfer, the lender can demand payment by means of a clause in the
mortgage contract called a(n):
a. Due on instance
b. Acceleration clause
c. Due on transfer
d. Decrepitation clause - Answer Acceleration clause
In Texas, what is the date that salesperson's licenses expire?
a. Every two years on the licensee's birthday
b. Annually on October 31st
c. Annually on January 1st
d. Annually on April 15th - Answer Every two years on the licensee's birthday
A homeowner paid 4 points for a bank loan. The bank sold the loan to an insurance
company at 5-1/2 point discount and received a check for $15,000. The original amount
of the loan was:
a. $15,054.
b. $15,648.72.
c. $15,563.63.
d. $15,873.02. - Answer $15,873.02. Explanation: 100% - 5.5% = 94.5%. $15,000 divided
by 94.5% = $15,873.02.
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 or Stuvia-credit 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 Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
