AYPO Real Estate Principles of Real Estate II Exam Combined Questions Reviewed With Correct Answers
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Course
AYPO Principles Of Real Estate
Institution
AYPO Principles Of Real Estate
AYPO Real Estate Principles of
Real Estate II
Exam Combined Questions
Reviewed With Correct Answers
Who is permitted to prepare legal documents in
Texas? - ANSWER : Attorney
Which of the following combines and replaces the
final Truth-in- Lending disclosure and the HUD-1? -
ANSWER : ...
AYPO Real Estate Principles of
Real Estate II
Exam Combined Questions
Reviewed With Correct Answers
Who is permitted to prepare legal documents in
Texas? - ANSWER ✔ : Attorney
Which of the following combines and replaces the
final Truth-in- Lending disclosure and the HUD-1? -
ANSWER ✔ : The Closing Disclosure
In Texas, recording fees are paid to whom? -
ANSWER ✔ : The county clerk in the county where
the real property is located.
Participants in the primary mortgage market do
NOT include - ANSWER ✔ : seller-owners
When an offer to purchace real estate in Texas is
signed, a license holder shall advise each buyer, in
writing, that the buyer should do which of these -
ANSWER ✔ : 1. Purchase a title insurance policy
,2. Obtain an abstract covering the real estate that is
the subject of the
The minimum general requirements for an
instrument to qualify as a deed in Texas include: -
ANSWER ✔ : Contain words of conveyance
Which of the following is an area of real estate
broker's job that requires mathematics? - ANSWER
✔ : Mortgage loan evaluation
Commissions from Property Sales
Property Assessment
The rules for client trust accounts are ___ to those
used for real estate brokers - ANSWER ✔ : Very
similar, but not identical
What type of clause would the following be?
"Tenants shall not operate machinery which
produces a noise in excess of 100 decibels between
the hours of 9:00 pm and 9:00 am." - ANSWER ✔ :
Use clause
After a property is sold at an auction and the former
owner refuses to move, what action might they be
facing? - ANSWER ✔ : If the former property owner
does not move off the property after it is sold, they
,will be served with and eviction notice from the
sheriff's office.
A property owner borrows $490,000 at a 12%
interest rate. How much interest accumulates in the
first year. (Interest rate = Interest / Principle) -
ANSWER ✔ : $58,800
In what economic setting does the trading of
investment products like REMICs actually take
place? - ANSWER ✔ : Stock Market
Replacement Cost (the dollar amount it would cost
to construct, at current prices, a structure what might
not be exactly the same) is used as an element of
which of the following types of appraisals? -
ANSWER ✔ : Cost Approach
If two or more unrelated parties recieve real
property and the conveyance does not address the
character of the tenancy created, it is by law given
as: - ANSWER ✔ : A tenancy in common
Leverage refers to the balance between: -
ANSWER ✔ : Monies owed against borrowed funds
and income received as a return on investment.
, Who is permitted to prepare legal documents in
Texas - ANSWER ✔ : Attourney
The information in a certificate of title often has
several sections to it, including all of these,
EXCEPT: - ANSWER ✔ : Credit history of the
buyer
Included in the cost of most title insurance are all of
the following, EXCEPT - ANSWER ✔ : A closing
disclosure statement
There are two kinds of points: - ANSWER ✔ :
Discount points and origination points
If the sale, transfer, purchase, or acquisition
agreement transfers or sells and interest in land or in
a mortgage other than lien vested according to the
real property records is the failed depository
institution, which of the following is accurate? -
ANSWER ✔ : A recorder affidavit or memorandum
under this section is constructive notice of the
transfer or sale
While they can happen at the same time,
consummation is a legally distinct point in time
where the borrower: - ANSWER ✔ : Becomes
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