Exam (elaborations)
The CE Shop: 30-HR. TX PRINCIPLES OF REAL ESTATE II
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The CE Shop: 30-HR. TX PRINCIPLES OF REAL ESTATE II
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THE CE SHOP: 30-HR. TX PRINCIPLESOF REAL ESTATE II QUESTIONS WITH
CORRECT ANSWERS
nWhat happens when an appraisal comes back lower than the asking price? - 1. They can acknowledge a
fail
2. The buyer can increase the down payment
3. The seller can lower the asking price
4. They can compromise
Real Estate Broker - A person licensed as a broker who performs brokerage activities and collects
compensation
Real Estate Sales Agent - A person who performs real estate activities while associated with a licensed
real estate broker
Licensee - A person holding a valid license
Appraiser - A person holding certification to estimate the value of real property according to
standardized principles of valuation
Home Inspector - A person who is affiliated with a national nonprofit trade association, has passed the
appropriate exam, and evaluates properties for their condition
Lender - A person who arranges financing for the buyer of real property
Developer - A person who constructs improvements on raw land
Subdivider - A person who splits a single property into smaller parcels in preparation for development
Real Estate Investor - A person who puts money or property into a real estate project for profit
Real Estate Attorney - A person who holds a law degree and specializes in real estate; may legally broker
deals
Real Estate Counselor - A person who provides services to help determine viability of a real estate asset
or project
The Leisure Category - Hotels/motels
Golf courses
Resorts
Sporting arenas
, Movie theaters
Restaurants
The Industrial Category - Heavy manufacturing
Light manufacturing
Warehouse & distribution
The Healthcare Category - Hospitals
Urgent care centers
Doctor's offices
The Residential Category - Single-family
Multifamily
Apartment buildings
Condominiums, cooperatives
The Office Building Category - Class A - prestigious
Class B - fair to good
Class C - functional, below average rent
The Retail Category - Neighborhood shopping centers (strip malls)
Regional shopping malls
The Specialty Category - Mixed-Use
Combined retail/residential
Planned Unit
High-density, zoning mix
Transit-Oriented
Near transportation hub
Private Land Controls - Easements, Liens, and Deed Restrictions
Residential Zone - single-family or multi-family including a duplex or a high rise apartment
Accessory Apartment/Accessory Use - An additional property subordinate to the main use of the
property such as an equipment shed or mother-in-law suite
Home Occupation - A residential zone where the residents of the dwelling conduct business out of their
home.
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