First time homebuyer Study guides, Class notes & Summaries
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AYPO Real Estate Principles of Real Estate I Exam Study Guide 2024
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AYPO Real Estate Principles of Real 
Estate I Exam Study Guide 2024 
TREC has the authority under TRELA to suspend or even revoke a broker's license if: - 
Answer-They conduct the unlawful practice of law 
ESAC stands for: -Answer-Education Standards Advisory Committee 
What refers to a location from an economic rather than a geographic standpoint? - 
Answer-Situs. 
Which amendment guarantees that a citizen will not be deprived of property without due 
process of law? -Answer-5th Amendment. 
Th...
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Illinois Real Estate Licensee Practice Questions Verified Answers
- Exam (elaborations) • 24 pages • 2024
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Illinois Real Estate Licensee Practice Questions Verified Answers 
The final decision on the listing price for a property is made by the 
a) listing broker 
b) sponsoring broker 
c) seller 
d) appraiser ️c) seller 
A rectangular parcel of land is 260 feet deep and 50 yards wide. How many square feet does it contain? 
a) 13,000 sq. ft. 
b) 36,400 sq. ft. 
c) 39,000 sq. ft. 
d) 52,000 sq. ft. ️c) 39,000 sq. ft. 
A fee simple holder of a parcel of real estate grants a life estate to ...
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TEST: Understanding Niche Products Questions and Answer
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TEST: Understanding Niche Products 
Questions and Answer 
Repairs/renovations can begin AFTER the renovation loan closes. - Answer ️️ -ANSWER: 
True 
On a renovation loan, the LTV is based on the after-improved value of the home. - Answer ️️ - 
ANSWER: True 
On a FHA 203(k) Limited only structural repairs are allowed. - Answer ️️ -ANSWER: False 
Relief Refinance Program loans may only be manually underwritten. - Answer ️️ -ANSWER: 
False 
HomeOneSM and Home Possible® have medi...
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Xinnix Ground School Questions and Answers 100% Correct
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Xinnix Ground School Questions and 
Answers 100% Correct 
first-time homebuyer - Someone who has never owned a home 
Move-up homebuyer - Currently owns, or has previously owned a home 
and is looking to move up in price, location, size, etc. 
Relocation Homebuyer - Purchasing a new home in a different city or 
state due to job transfer or personal desire 
Affluent homebuyer - Well seasoned in home buying process. 
Knowledgeable, financially savvy, busy. 
Empty-nester homebuyer - Experienced home...
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AYPO Real Estate Principles of Real Estate I Exam Study Guide with Complete Solutions
- Exam (elaborations) • 6 pages • 2024
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AYPO Real Estate Principles of Real Estate I 
Exam Study Guide with Complete Solutions 
TREC has the authority under TRELA to suspend or even revoke a broker's license if: - 
answerThey conduct the unlawful practice of law 
ESAC stands for: - answerEducation Standards Advisory Committee 
What refers to a location from an economic rather than a geographic standpoint? - 
answerSitus. 
Which amendment guarantees that a citizen will not be deprived of property without due process 
of law? - answer5...
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AYPO Real Estate Principles 1 (2nd Try) Questions With 100% Correct Answers 2024
- Exam (elaborations) • 5 pages • 2024
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AYPO Real Estate Principles 1 (2nd Try) 
Questions With 100% Correct Answers 2024 
Trec has the authority under TRELA to suspend or even revoke a brokers license if - 
answerThe conduct the unlawful practice of law 
ESAC stands for - answerEducation Standards Advisory Committee 
What refers to a location from an economic rather than a geographic standpoint? - 
answerSitus 
Which amendment guarantees that a citizen will not be deprived of property without due process 
of law - answer5th Amendment...
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Xinnix Ground School Q&A 2022/2023
- Exam (elaborations) • 6 pages • 2022
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first-time homebuyer - Answer- Someone who has never owned a home 
 
Move-up homebuyer - Answer- Currently owns, or has previously owned a home and is looking to move up in price, location, size, etc. 
 
Relocation Homebuyer - Answer- Purchasing a new home in a different city or state due to job transfer or personal desire 
 
Affluent homebuyer - Answer- Well seasoned in home buying process. Knowledgeable, financially savvy, busy. 
 
Empty-nester homebuyer - Answer- Experienced homebuyers lookin...
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Xinnix Ground School Exam Questions With Answers
- Exam (elaborations) • 7 pages • 2024
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Xinnix Ground School Exam Questions With Answers 
first-time homebuyer 
Someone who has never owned a home 
 
 
Move-up homebuyer 
Currently owns, or has previously owned a home and is looking to move up in price, location, size, etc. 
 
 
Relocation Homebuyer 
Purchasing a new home in a different city or state due to job transfer or personal desire 
 
 
Affluent homebuyer 
Well seasoned in home buying process. Knowledgeable, financially savvy, busy. 
 
 
Empty-nester homebuyer 
Experienced home...
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Principles of Real Estate 1 Final Exam with Solutions 2024
- Exam (elaborations) • 5 pages • 2024
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Principles of Real Estate 1 Final Exam with Solutions 
If a real estate salesperson closes on a transaction, who pays the salesperson their commission? - 
Answer -The salesperson's sponsoring broker 
A means of comparing similar type properties, which have recently sold, to the subject property is 
known as the? - Answer -Market Comparison Approach 
The market comparison approach is commonly used for this property type? - Answer -Residential 
The amount of goods offered for sale within a given ...
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AYPO Real Estate Test 1 Questions with 100% Correct Answers | Verified | Updated 2024
- Exam (elaborations) • 4 pages • 2024
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AYPO Real Estate Test 1 Questions with 
100% Correct Answers | Verified | Updated 
2024 
one of the most powerful elements of the deceptive trade practices consumer protection act is its 
mandate to award which one? - answerAttorney's fees 
the party possessing an encumbrance on another partys property has a __________ that property. 
- answerall of these are correct 
- answerthe entity that wants to take your property must notify you that it wants to take your 
property 
a contraction or gener...
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