Exam (elaborations)
TEXAS PRINCIPLES OF REAL ESTATE 1: QUIZ QUESTIONS
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TEXAS PRINCIPLES OF REAL ESTATE 1: QUIZ QUESTIONS
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TEXAS PRINCIPLESOF REAL ESTATE
1: QUIZ
QUESTIONS
Special Agent - Answers -A real estate agent is an example of what type of agent...?
Universal Agent
General Agent
Special Agent
Specific Agent
Market Comparison Approach - Answers -A means of comparing similar type properties,
which have recently sold, to the subject property is known as the...?
Cost Approach
Assessment Approach
Income Approach
Market Comparison Approach
Listing Contract - Answers -A contract in which a property owner employs a real estate
broker to market the property described in the contract is known as the...
Agency Disclosure Contract
Purchase and Sales Contract
Closing Contract
Listing Contract
Commercial Property - Answers -Properties with five or more dwelling units are
considered...?
,Special Purpose Property
Commercial Property
Industrial Property
Residential Property
Supply - Answers -The amount of goods offered for sale within a given market at a
given price during a given time period is known as...
Demand
GDP
Supply
None of the above
All of the Above - Answers -The general uses of real property include which of the
following...?
Residential
Industrial
Commercial
All of the above
The Salesperson's Sponsoring Broker - Answers -If a real estate salesperson closes on
a transaction, who pays the salesperson their commission...?
The Buyer
The salesperson's sponsoring broker
Whatever is stated in the listing agreement
The Seller
General Agent - Answers -A property manager is an example of what type of agent...?
Universal Agent
Specific Agent
General Agent
Special Agent
Principal - Answers -The employer of an agent is known as the...?
Principal
All of the above
Customer
Escrow
Residential - Answers -The market comparison approach is commonly used for this
property type...?
, Mixed-use
Industrial
Residential
Commercial
Real Estate - Answers -Land and everything permanently attached to land is defined
as...?
Bundle of Rights
Real Property
Fixture
Real Estate
Personal Property - Answers -A refrigerator is typically considered...?
Fixture
Real Property
Personal Property
Emblements
Personal Property - Answers -All property that is not land and is not permanently
attached to land is known as...?
Personal Property
Real Property
Real Estate
Fixture
Surface Rights - Answers -Mineral rights are typically considered dominant to which of
the following rights...?
Sub-surface rights
None of the above
Air rights
Surface rights
All of the Above - Answers -Which of the following is considered a legal test for
determining if an item is a fixture or not...?
Intention of the parties
Mode and permanence of how the item was attached
Adaptation of the item
All of the above
Bundle of Rights - Answers -The right of exclusion, which allows a landowner to prevent
others from entering or occupying their property, is included in the...?
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