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AYPORealEstate Test 1 WITH 100- SURE ANSWERS
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AYPORealEstate Test 1 WITH 100- SURE ANSWERS
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EUNICEAYPORealEstate Test 1 WITH 100% SURE ANSWERS
Terms in this set (68)
A set of criteria which are not directly targeted at a specific group but will
Disparate impact
disproportionately affect that group.
1. prtect the eneral public during real estate transactions from dishonest or
incompetent brokers and sales agents.
What purpose is served by regulating real
2. maintain high standards or the real estate profession
estate licensing?
3. set out minimum standards and qualifications for licensing brokers and sales
agents.
The seller must provide the buyer with a 1. Underground storage tanks
disclosure statement in the statutorily 2. the condition of all major appliances, systems, and services
required form, which includes? 3. the general condition of the property, including basement and roof leaks
Mortgages are a common type of ________ consensual
lein.
1. Care
2. Discosure, confidenciality
What are the five duties owned by a
3. Loyalty
fiduciary?
4. accounting
5. obedience
1. adequate compensation if your property is condemned
2. your property can only be condemned for a public use.
3. your property can only be condemned by a gov entity
4. entity must notify you
6. said entity must provide you written appraisal
Texas Landowners Bill of Rights includes. 6. You can file a written complaint to trec
7. must make. a bona fide offer.
8. you may hire your own appraiser
9. you may hire an attorney
10. you're entitlled to a hearing
11. you've a right to trial
Joint tenancy is ended when Unity of time ends
The commission may require a license Limit practice to an area prescribed by the commission
holder whose license suspension or
revocation is probated to do what
After racial discrimination in housing was Restrictive covenant
ruled unconstitutional, a mechanism used
to get around this ruling was ?
1/5
, 1. to set out minimum standards and qualifications for licensing brokers and sales
agents
what is the purpose of real estate licensing
2. to protect licensed brokers and sales agents from unfair or improper competition.
laws?
3. To protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
An estimate of the amount of money that Liquidation value.
could be gained if the property was quickly
sold in a low-demand market is called
what?
Which of the following is a general term for Platted
properties involving an approved survey
map and plans that describe each lot or
unit and that is recorded with the country?
An appointed licensee must Not disclose that an owner would accept a price lower than the asking price.
Which of these is the legal remedy that Reliance damages
returns the nonbreaching party to the
position that they would have been in if the
contract had not been made?
A tenancy by the entirety between legally A spouse cannot dispose of their interest without consent of the other spouse.
married spouses differs from joint tenancy
because of which of
What defines a condominium? The form of ownership
Each year the Community Reinvestment Act Any comments from the public about the specific financial institutions performance
require federally supervised financial in meeting their communities needs.
institutions to prepare annual statements
that include
The assessed value of a property is the value established for tax purposes by local municipalities.
What is associated with metes and bounds Call, Courses, monuments
measurements
What is the remedy called when one party Specific performance.
has made a good faith effort to perform
their obliations under a contract and the
other party has NOT perfored their
obliations?
What is the term for the ability of the states Police power
to regulate the citizen's behavior and
enforce order within their jurisdictions for
the betterment of the health, safety, morals,
and general welfare of their inhabitants?
1. The owner of the home has elected to treat the home as their real property.
2. both the texas department of housing and community affairs and the homes
A manufactured home can be considered county's chief tax appraiser have been notified of the filing
real property under which circumstances 3. A certified copy of the "Statement of ownership and location" for the home has
ben filed by the owner in thee real property records of the county where the home
is located.
Who determines the salaries of the The commission.
executive director, officers, and employees
of the commission?
2/5
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