RealEstateU: Texas Real Estate Principles Part 1 Final Exam Questions & Answers(GRADED A+)
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Course
RealEstateU: Texas Real Estate Principles
Institution
RealEstateU: Texas Real Estate Principles
supply - ANSWER The amount of goods offered for sale within a given market at a given price during a given time period.
General Agent - ANSWER A property manager is an example of what type of agent?
Special Agent - ANSWER A real estate agent is an example of what type of agent?
Resident...
RealEstateU: Texas Real Estate
Principles Part 1 Final Exam Questions
& Answers(GRADED A+)
supply - ANSWER The amount of goods offered for sale within a given market at a given price during
a given time period.
General Agent - ANSWER A property manager is an example of what type of agent?
Special Agent - ANSWER A real estate agent is an example of what type of agent?
Residential, Commercial, and Industrial - ANSWER The general uses of real property include the
following:
Market Comparison Approach - ANSWER A means of comparing similar type properties would have
recently sold to the subject property is known as:
Surface Rights - ANSWER Mineral rights are typically considered dominant to which of the following
rights
real estate - ANSWER Land and everything permanently attached to land is defined as
Personal Property - ANSWER All property that is not land and is not permanently attached to land is
known as
Bundle of Rights - ANSWER The right of exclusion which allows a landowner to prevent others from
entering or occupying their property is included in the
Kitchen cabinets - ANSWER Which of the following is an example of a fixture
, Intentions of the party, adaption of the item, mold and permanence of house item was attached -
ANSWER Which of the following is considered a legal test for determining if an item is a fixture or
not
customer - ANSWER This refers to the party the agent brings to the principal as seller or buyer of the
property.
General Agent - ANSWER An agent with full authority over one property of the principal is known as
a
Special Agent - ANSWER An agent with limited authority to act on behalf of the principal is referred
to as a
The agent finds a buyer who is ready, willing, and able to purchase the property. - ANSWER A seller's
agent is entitled to a commission after
customer - ANSWER A broker will work for a client and with a
disclosure - ANSWER A seller's broker is required to tell their client any relationship they may have
with the buyer. This is an example of what fiduciary duty?
honesty - ANSWER Which of the following is owed to a customer by an agent?
condominium - ANSWER a form of ownership of real property recognized in all states that consists of
individual ownership of some aspects and co-ownership in other aspects of the property is known as
Care - ANSWER The "C" in the acronym COALD stands for which fiduciary duty?
Assisting with counteroffers. - ANSWER The fiduciary duty of care when representing a buyer
includes
loyalty - ANSWER A broker must always place his/her client's interests above their own. This is an
example of what fiduciary duty?
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