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AYPO Real Estate Principles of Real Estate I Exam Study Guide questions with correct answers
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AYPO Real Estate Principles of Real Estate I Exam Study Guide questions with correct answers
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AYPO Real Estate Principles of Real Estate I ExamStudy Guide questions with correct answers
TREC has the authority under TRELA to suspend or even revoke a
broker's license if: Correct Answer-They conduct the unlawful practice
of law
ESAC stands for: Correct Answer-Education Standards Advisory
Committee
What refers to a location from an economic rather than a geographic
standpoint? Correct Answer-Situs.
Which amendment guarantees that a citizen will not be deprived of
property without due process of law? Correct Answer-5th Amendment.
The CFPB is the: Correct Answer-Consumer Financial Protection
Bureau
A professional organization or association is usually a not-for-profit
organization that seeks to: Correct Answer-further a particular
profession and the interests of individuals engaged in that profession.
A contraction or generally slowing down of the economy is a: Correct
Answer-Recession.
, What is the primary purpose for real estate licensing laws? Correct
Answer-1. To protect the general public during real estate transactions
from dishonest or incompetent brokers and sales agents.
2. To set out minimum standards and qualifications for licensing brokers
and sales agents.
3. To protect licensed brokers and sales agents from unfair or improper
competition.
Per 1101.2051(b), information or material prepared or compiled by the
commission in connection with a complaint, investigation, or audit may
be disclosed: Correct Answer-to the respondent of the complaint.
What type of property category includes churches, other places of
worship, schools and colleges, cemeteries and certain government-held
properties? Correct Answer-Special-purpose.
Emblements are best described by which of the following? Correct
Answer-Harvestable plants, trees, and uncultivated vegetation.
A manufactured home can be considered real property if: Correct
Answer-1. both the Texas Department of Housing and Community
Affairs and the home's county's chief tax appraiser have been notified of
the filing
2. a certified copy of the "Statement of ownership and location" for the
home has been filed by the owner in the real property records of the
county where the home is located
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