Texas Real Estate Finance Exam Questions with complete solutions

Which of the following is CHATTEL -ANSWER-A. Detached garage B. Attached satellite dish owned by the seller. C. WASHER/DRYER - CORRECT D. In-ground pool Allows for unequal shares of ownership. -ANSWER-A. TENANTS IN COMMON - CORRECT B. Joint Tenancy C. Tenancy by the entirety D. Freehold estates Defined as a social science that studies how individuals, governments, firms, and nations make choices on allocating scarce resources to satisfy their unlimited wants. -ANSWER-A. Finance B. Social Studies C. History D. ECONOMICS - CORRECT The Federal Open Market Committee is the Fed's: -ANSWER-A. MONETARY POLICY-MAKING BODY - CORRECT B. Supplies funds to member banks C. Is one of the 12 Federal Reserve Banks D. Provides general oversight for the Fed. Which of the following is NOT necessary for money to function well? -ANSWER-A. IT MUST BE IN U.S. CURRENCY - CORRECT b. It must be easily measured to determine its actual value. C. It must not deteriorate quickly D. It must be widely accepted by buyers and sellers.