Texas real estate exam 2 - Study guides, Class notes & Summaries

Texas Principles of Real Estate II (2024 / 2025) Exam | Guide with Questions and Verified Answers | 100% Correct Q: Principle of Contribution? Answer: A component part of a property is valued in proportion to its contribution to the value of the whole. Holds that maximum values are achieved when the improvements on a site produce the highest (net) return, commensurate with the investment. Q: Principle of Competition? Answer: Holds that profits tend to breed competition and excess profits tend to...

1. The real estate market is local in nature what does that mean? - ANSWER Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in the performance of specified services of real estate C. Following up wi...

Texas Principles of Real Estate 1 Final Exam | Questions and Verified Answers | Grade A | 2024 / 2025 Update Q: An insurance policy protecting against a variety of hazards is referred to as a...? Homestead Policy Individual Policy Homeowners Policy Package Policy Answer: Homeowners Policy Q: Which of the following is an advantage to owning a home...? Tax benefits Pride of ownership Potential for asset appreciation All of the above Answer: All of the Above Q: An individual is exempt from paying t...

Law of Contracts - Champions School of Real Estate Latest Version Graded A+ TERLA - Texas Real Estate License Act - Created in 1939 TREC - Texas Real Estate Commission - Created in 1949 to administer/enforce TERLA Real Estate Center - Located at Texas A&M University - Created in 1970 TREC-Promulgated Forms/Leases (Residential): - One-to-Four Family Residential Contract (Resale) - New Home Contract (Completed Construction) - Residential Condo Contract (Resale) - Ne...

TEXAS REAL ESTATE FINANCE EXAM 2024| REAL EXAM QUESTIONS WITH 100% CORRECT ANSWERS

TEXAS PRINCIPLES 2 EXAM PRACTICE 2024 QUESTIONS WITH ANSWERS - CHAMPIONS SCHOOL OF REAL ESTATE

Texas Property Tax Consultant Exam Review Questions with Complete Solutions What is the primary purpose of property taxes in Texas? A) To fund state government operations B) To support public education and local services C) To promote economic development D) To provide tax breaks for businesses Which entity is responsible for appraising properties in Texas? A) The Texas Comptroller B) The county appraisal district C) The Texas Department of Revenue D) The local municipality ...

1. 1. The insured carries a BOP policy with protective systems such as a sprinkler system. If the system becomes inoperative, the insured must advise the insurance company of the problem within if the system cannot be restored to working order: 48 hours Your Answer 2. 2. Tina has two policies (Policy X and Policy Y) that cover the same risk on a pro rata basis. Policy X has a limit of $100,000 and Policy Y has a limit of $25,000. When Tina suffers a loss totaling $75,000, how will the two pol...

How many members in TREC? - ANSWER - 9: 3 general public, 6 brokers Who appoints, confirms TREC members? - ANSWER - Governor appoints, senate approves How many members on the Broker-Lawyer Committee? - ANSWER - 13: 6 brokers, 6 lawyers, 1 public member Who appoints Broker-Lawyer committee members? - ANSWER - Brokers/TREC, Lawyers/Pres of State Bar, Public Member/Governor Where is the Real Estate Advisory Committee? - ANSWER - Texas A & M Who is on the Real Estate Advisory Committe...