Principles Of Real Estate 1- Champions
School Of Real Estate Questions And
Answers With Verified Solutions 100%
Correct!!!
D - ANSWER✔✔ 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
D - ANSWER✔✔ The supply of Real Estate is affected by
(a) Land cost
(b) Building codes
(c) Government regulations
(d) All of these
B - ANSWER✔✔ The least important factor affecting demand for real estate is:
(a) Population Growth
(b) Personal Preference
(c) Availability of Credit
,(d) Transportation Systems
C - ANSWER✔✔ 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
A - ANSWER✔✔ 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
C - ANSWER✔✔ 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
,D - ANSWER✔✔ 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
D - ANSWER✔✔ Air Rights are commonly leased or conveyed in:
(a) Cell tower leases
(b) Condominiums
(c) Outdoor Advertising
(d) All of these are correct
C - ANSWER✔✔ Building, roads and fences are all examples of:
(a) Personal Property
(b) Private Property
(c) Improvements
(d) Public Property
C - ANSWER✔✔ If a tenant fails to remove trade fixtures from the leased
premises, the fixtures become the property of the landlord through:
C - ANSWER✔✔ 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
C - ANSWER✔✔ 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
B - ANSWER✔✔ Manufactured home dealers and sales people in Texas are
licensed by:
(a) TREC
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