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Principles of Real Estate 1- Champions School of Real Estate questions with actual answers.
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Principles of Real Estate 1- Champions School of Real Estate questions with actual answers.
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Principles of Real Estate 1- ChampionsSchool of Real Estate questions with
actual answers.
a freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in
new home sales. This increase in sales is an example of the economic characteristic of
A.) scarcity
B.) Fixity
C.) Situs
D.) Modification ANS - D.) Modification
The supply of Real Estate is affected by
A.) Land cost
B.) Building codes
C.) Government regulations
D.) All of these ANS - D.) All of these
The least important factor affecting demand for real estate is:
A.) Population Growth
B.) Personal Preference
C.) Availability of Credit
D.) Transportation Systems ANS - B.) Personal Preference
A lawsuit was tried on a real estate matter. The judge ruled in the case, citing the decision of a judge in a
similar case that was tried ten years ago. The judges decision in the case was most likely based upon:
A.) Statutory Law
B.) Civil Law
C.) Common Law
D.) Local ordinance ANS - C.) Common Law
,A license holder was tried in a state district court on a complaint arising from a real estate transaction.
The court ruled that, among other transgressions, the defendant had violated the Texas Real Estate
License Act. This decision of the judge was based upon:
A.) Statutory law
B.) Civil Law
C.) Common Law
D.) Local Ordinance ANS - A.) Statutory Law
RMLOs in Texas are licensed through:
A.) Texas Real Estate Commission
B.) National Mortgage Bankers Association
C.) Texas Department of Savings and Mortgage Lending
D.) Texas savings and loan board ANS - C.) Texas Department of Savings and Mortgage Lending
A Freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in
new home sales. This increase in sales is an example of the economic characteristics of:
A.) Scarcity
B.) Fixity
C.) Situs
D.) Modification ANS - D.) Modification
Air Rights are commonly leased or conveyed in:
A.) Cell tower leases
B.) Condominiums
C.) Outdoor Advertising
D.) All of these are correct ANS - D) all of these
Building, roads and fences are all examples of:
A.) Personal Property
, B.) Private Property
C.) Improvements
D.) Public Property ANS - C.) Improvements
If a tenant fails to remove trade fixtures from the leased premises, the fixtures become the property of
the landlord through:
A.) Remediation
B.) Adverse Possession
C.) Accession
D.) Descent ANS - C.) Accession
Effective in 1976, manufactured homes have been built according to a building code administered by:
A.) Local building departments
B.) State code enforcement
C.) HUD
D.) FHA ANS - C.) HUD
Homes that are built in sections according to local building codes and assembled on the job site are
known as:
A.) Trailers
B.) Mobile Homes
C.) Modular Homes
D.) Site built Homes ANS - C.) Modular Homes
Manufactured home dealers and sales people in Texas are licensed by:
A.) TREC
B.) The TDHCA
C.) The TALCB
D.) TRELA ANS - B.) The TDHCA
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