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Texas Real Estate Principles Tests Compilation Bundle
Texas Real Estate Principles Tests Compilation Bundle
[Show more]Texas Real Estate Principles Tests Compilation Bundle
[Show more]1. The ______________ is the most active in the regulation of real estate licensees. correct answer: d) state government 
 
2. Which of the following is necessary for a deed of conveyance to be valid? correct answer: b) The deed must be in writing 
 
3. The primary distinction between the legal co...
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Add to cart1. The ______________ is the most active in the regulation of real estate licensees. correct answer: d) state government 
 
2. Which of the following is necessary for a deed of conveyance to be valid? correct answer: b) The deed must be in writing 
 
3. The primary distinction between the legal co...
Mixed Numbers correct answer: A number containing both a whole number and a fraction (examples: 1⅓; 9⅞) 
 
Improper Fractions correct answer: a fraction with its numerator equal to or greater than its denominator 
 
Commission Calculation correct answer: Sales price X rate of commission = tot...
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Add to cartMixed Numbers correct answer: A number containing both a whole number and a fraction (examples: 1⅓; 9⅞) 
 
Improper Fractions correct answer: a fraction with its numerator equal to or greater than its denominator 
 
Commission Calculation correct answer: Sales price X rate of commission = tot...
Trec Commision Membership correct answer: 9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. 
 
Texas Real Estate Borker Lawyer Committee correct answer: 13 Members (6 brokers, 6 lawyers, 1 public) 
 
General Eligibility Requirements to be Licensed by TREC cor...
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Add to cartTrec Commision Membership correct answer: 9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. 
 
Texas Real Estate Borker Lawyer Committee correct answer: 13 Members (6 brokers, 6 lawyers, 1 public) 
 
General Eligibility Requirements to be Licensed by TREC cor...
3x sold
The amount of goods offered for sale within a given market at a given price during a given time period. correct answer: supply 
 
A property manager is an example of what type of agent? correct answer: General Agent 
 
A real estate agent is an example of what type of agent? correct answer: Speci...
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Add to cartThe amount of goods offered for sale within a given market at a given price during a given time period. correct answer: supply 
 
A property manager is an example of what type of agent? correct answer: General Agent 
 
A real estate agent is an example of what type of agent? correct answer: Speci...
Amortization correct answer: The liquidation of a financial obligation on an installment basis; also, recovery over a period of cost or value. 
 
Area correct answer: Two dimensional surface of an object 
 
Interest and how its calculated correct answer: Total loan value * interest rate = Total I...
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Add to cartAmortization correct answer: The liquidation of a financial obligation on an installment basis; also, recovery over a period of cost or value. 
 
Area correct answer: Two dimensional surface of an object 
 
Interest and how its calculated correct answer: Total loan value * interest rate = Total I...
A person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee. correct answer: Real Estate Broker 
 
A person performing any of the acts included in the definition of real estate broker but while associated with and s...
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Add to cartA person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee. correct answer: Real Estate Broker 
 
A person performing any of the acts included in the definition of real estate broker but while associated with and s...
Apartment Locator correct answer: a real estate license holder who locates dwelling units for prospective tenants 
 
Tenant correct answer: one who possesses a property under lease without ownership 
 
Broker correct answer: someone who assists in buying and selling to receive a commission 
 
Cli...
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Add to cartApartment Locator correct answer: a real estate license holder who locates dwelling units for prospective tenants 
 
Tenant correct answer: one who possesses a property under lease without ownership 
 
Broker correct answer: someone who assists in buying and selling to receive a commission 
 
Cli...
The business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate is known as...? 
 
Agency 
Brokerage 
Trading 
Appraising correct answer: Brokerage 
 
Property that produces rental income or that is used in business is known as...? 
 
Commerci...
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Add to cartThe business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate is known as...? 
 
Agency 
Brokerage 
Trading 
Appraising correct answer: Brokerage 
 
Property that produces rental income or that is used in business is known as...? 
 
Commerci...
1x sold
Salesperson's Sponsoring Broker correct answer: a real estate salesperson closes on a transaction, who pays the salespersons commission? 
 
General Agent correct answer: An agent with full authority over one property of the principle. EX: Property Manager. 
 
Supply correct answer: Te amount of ...
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Add to cartSalesperson's Sponsoring Broker correct answer: a real estate salesperson closes on a transaction, who pays the salespersons commission? 
 
General Agent correct answer: An agent with full authority over one property of the principle. EX: Property Manager. 
 
Supply correct answer: Te amount of ...
The approach used as the best indicator of value for existing properties. 
 
a. functional obsolescence 
b. sales comparison 
c. highest and best use 
d. market value 
e. external obsolescence correct answer: B 
 
Refers to the loss in desirability of the style, layout, or function of an element of...
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Add to cartThe approach used as the best indicator of value for existing properties. 
 
a. functional obsolescence 
b. sales comparison 
c. highest and best use 
d. market value 
e. external obsolescence correct answer: B 
 
Refers to the loss in desirability of the style, layout, or function of an element of...
The business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate. correct answer: brokerage 
 
A person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee corre...
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Add to cartThe business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate. correct answer: brokerage 
 
A person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee corre...
Under what conditions can a supervising broker appoint a license holder associated with the broker to represent one party to a real estate transaction? correct answer: With written consent of all parties 
 
When must a seller's agent provide a written statement about brokerage services to a party?...
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Add to cartUnder what conditions can a supervising broker appoint a license holder associated with the broker to represent one party to a real estate transaction? correct answer: With written consent of all parties 
 
When must a seller's agent provide a written statement about brokerage services to a party?...
If a real estate salesperson closes on a transaction, who pays the salesperson their commission? correct 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? correct answer: Market Compariso...
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Add to cartIf a real estate salesperson closes on a transaction, who pays the salesperson their commission? correct 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? correct answer: Market Compariso...
Which act was passed to regulate appraisal? correct answer: in 1989, Congress passed the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) in response to the savings and loan crisis. 
 
What does Title XI of FIRREA require? correct answer: competent individuals whose professiona...
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Add to cartWhich act was passed to regulate appraisal? correct answer: in 1989, Congress passed the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) in response to the savings and loan crisis. 
 
What does Title XI of FIRREA require? correct answer: competent individuals whose professiona...
Courses for the renewal of an active real estate broker or sales agent license are called correct answer: continuing education (CE) 
 
What is the maximum amount that the Commission will pay from the real estate recovery trust account for claims against any one license holder, until the account has...
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Add to cartCourses for the renewal of an active real estate broker or sales agent license are called correct answer: continuing education (CE) 
 
What is the maximum amount that the Commission will pay from the real estate recovery trust account for claims against any one license holder, until the account has...
1. Real property can be acquired or conveyed via correct answer: transfer 
wills and trust 
intestate succession 
adverse possession 
by natural causes 
 
The transfer of the title to real property and possession of lands, tenements, or other things, from one person to another. correct answer: Ali...
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Add to cart1. Real property can be acquired or conveyed via correct answer: transfer 
wills and trust 
intestate succession 
adverse possession 
by natural causes 
 
The transfer of the title to real property and possession of lands, tenements, or other things, from one person to another. correct answer: Ali...
The liquidation of a financial obligation on an installment basis is referred to as...? 
Buy-down 
Discounting 
Amortization 
None of the above correct answer: Amortization 
 
Which of the following is used by lenders to increase the lender's yield on the loan without increasing the annual interes...
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Add to cartThe liquidation of a financial obligation on an installment basis is referred to as...? 
Buy-down 
Discounting 
Amortization 
None of the above correct answer: Amortization 
 
Which of the following is used by lenders to increase the lender's yield on the loan without increasing the annual interes...
Simple Interest Formula correct answer: = principal x rate x time 
Example: interest on $3k loan at 7% for one year = 
3000 x .07 x 1 
 
Simple Interest correct answer: Simple interest is money that is paid only for the amount of principal the borrower still owes. When the money is repaid to the l...
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Add to cartSimple Interest Formula correct answer: = principal x rate x time 
Example: interest on $3k loan at 7% for one year = 
3000 x .07 x 1 
 
Simple Interest correct answer: Simple interest is money that is paid only for the amount of principal the borrower still owes. When the money is repaid to the l...
A mixed number has both a fraction and a: correct answer: whole number 
 
Which of the following must be prorated or divided proportionately between the buyer and the seller? correct answer: Taxes, insurance, utilities 
 
Convert fractions to decimals when doing a real estate math problem by corre...
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Add to cartA mixed number has both a fraction and a: correct answer: whole number 
 
Which of the following must be prorated or divided proportionately between the buyer and the seller? correct answer: Taxes, insurance, utilities 
 
Convert fractions to decimals when doing a real estate math problem by corre...
Which of the following is an area of a real estate brokers job that requires mathematics 
A. Commissions from Property Sales 
B. Mortgage interest 
C. All of these are correct 
D. Property Taxes correct answer: All of the following 
 
If the base side of the triangular play measures 45' and th...
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Add to cartWhich of the following is an area of a real estate brokers job that requires mathematics 
A. Commissions from Property Sales 
B. Mortgage interest 
C. All of these are correct 
D. Property Taxes correct answer: All of the following 
 
If the base side of the triangular play measures 45' and th...
What does the denominator show? correct answer: Tells how many total parts there are 
 
What should you do to convert fractions to decimals? correct answer: Divide the numerator by the denominator 
 
Landlords base rents on what criteria? correct answer: Landlords decide what their rents will be,...
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Add to cartWhat does the denominator show? correct answer: Tells how many total parts there are 
 
What should you do to convert fractions to decimals? correct answer: Divide the numerator by the denominator 
 
Landlords base rents on what criteria? correct answer: Landlords decide what their rents will be,...
Appraiser must be aware of? correct answer: market cycles economic force political actions 
 
The principle of appraisal that states "value is influenced by the cost of acquiring a comparable replacement" is: correct answer: principle of substitution 
 
The presence of a higher-priced property i...
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Add to cartAppraiser must be aware of? correct answer: market cycles economic force political actions 
 
The principle of appraisal that states "value is influenced by the cost of acquiring a comparable replacement" is: correct answer: principle of substitution 
 
The presence of a higher-priced property i...
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