Real Estate Principles FINAL EXAM BUNDLE (COMPLETE PACKAGE DEAL)QUESTIONS AND ANSWERS 100% CORRECT Real Estate Principles FINAL EXAM BUNDLE (COMPLETE PACKAGE DEAL)QUESTIONS AND ANSWERS 100% CORRECT Real Estate Principles FINAL EXAM BUNDLE (COMPLETE PACKAGE DEAL)QUESTIONS AND ANSWERS 100% CORRECT R...
[Show more]
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 ...
Preview 2 out of 7 pages
Add to cartIf 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 ...
1. With regard to the Apartment Locator profession, which of the following statements is true? - ANSWER -Locators are typically on a fixed salary paid by the locator company. -In Texas, a real estate license is not required to operate as a roommate locator. Apartment locating has expanded to includ...
Preview 4 out of 49 pages
Add to cart1. With regard to the Apartment Locator profession, which of the following statements is true? - ANSWER -Locators are typically on a fixed salary paid by the locator company. -In Texas, a real estate license is not required to operate as a roommate locator. Apartment locating has expanded to includ...
The real estate law is found in the - ANSWER Business and Professional Code The Real Estate Commissioner reports to the - ANSWER governor Salesperson Sam owns 25% of the outstanding shares of Rollo Realty, Inc., and broker Barbara Rollo owns the remaining shares. This division of ownership i...
Preview 2 out of 8 pages
Add to cartThe real estate law is found in the - ANSWER Business and Professional Code The Real Estate Commissioner reports to the - ANSWER governor Salesperson Sam owns 25% of the outstanding shares of Rollo Realty, Inc., and broker Barbara Rollo owns the remaining shares. This division of ownership i...
A "net listing" is a listing agreement in which the broker's commission... - ANSWER is the difference ("net") between the sales proceeds and an amount desired by the owner of the real property When must a broker report a change of address to the commission? - ANSWER Not later than the 10th ...
Preview 2 out of 12 pages
Add to cartA "net listing" is a listing agreement in which the broker's commission... - ANSWER is the difference ("net") between the sales proceeds and an amount desired by the owner of the real property When must a broker report a change of address to the commission? - ANSWER Not later than the 10th ...
Special Agent - ANSWER A real estate agent is an example of what type of agent...? Universal Agent General Agent Special Agent Specific Agent Market Comparison Approach - ANSWER A means of comparing similar type properties, which have recently sold, to the subject property is known as the....
Preview 3 out of 25 pages
Add to cartSpecial Agent - ANSWER A real estate agent is an example of what type of agent...? Universal Agent General Agent Special Agent Specific Agent Market Comparison Approach - ANSWER A means of comparing similar type properties, which have recently sold, to the subject property is known as the....
Broker - ANSWER intermediary b/w a buyer and a seller for sale, purchase or rental of a property -licensed to do so -hires agents Dual Agency - ANSWER broker represents both buyer and seller in the same deal -both sides need full knowledge Agent - ANSWER sales person/representative -ca...
Preview 3 out of 16 pages
Add to cartBroker - ANSWER intermediary b/w a buyer and a seller for sale, purchase or rental of a property -licensed to do so -hires agents Dual Agency - ANSWER broker represents both buyer and seller in the same deal -both sides need full knowledge Agent - ANSWER sales person/representative -ca...
Air space. - ANSWER What is the real estate rights above the ground surface called? Real estate value - ANSWER The __________ represents an expected price that should result under specific conditions. Competent - ANSWER A broker or sales associate that is qualified to answer questions about ...
Preview 3 out of 16 pages
Add to cartAir space. - ANSWER What is the real estate rights above the ground surface called? Real estate value - ANSWER The __________ represents an expected price that should result under specific conditions. Competent - ANSWER A broker or sales associate that is qualified to answer questions about ...
1. The listing is always taken in the name of the _________ and becomes the property of the ___________. A. Broker—salesperson B. Salesperson—seller C. Broker—broker D. Broker—seller - ANSWER C. Broker- broker A deed is used to transfer ownership of real estate. A bill of sale wo...
Preview 3 out of 18 pages
Add to cart1. The listing is always taken in the name of the _________ and becomes the property of the ___________. A. Broker—salesperson B. Salesperson—seller C. Broker—broker D. Broker—seller - ANSWER C. Broker- broker A deed is used to transfer ownership of real estate. A bill of sale wo...
Which of the following actions does not violate the Texas Real Estate License Act? - ANSWER Disclosing all known facts pertaining to a property to a client The aspect of real estate business that is concerned with bringing together the parties and completing the transactions is: - ANSWER `Brok...
Preview 2 out of 11 pages
Add to cartWhich of the following actions does not violate the Texas Real Estate License Act? - ANSWER Disclosing all known facts pertaining to a property to a client The aspect of real estate business that is concerned with bringing together the parties and completing the transactions is: - ANSWER `Brok...
Which of the following does not need a license? - ANSWER a person who offers to sell her own property The Texas Real Estate Commission consists of ______. The commission members serve for _______ terms - ANSWER 9 members --- 6 year When a broker discharges a salesperson, he should: - ANSWER...
Preview 2 out of 7 pages
Add to cartWhich of the following does not need a license? - ANSWER a person who offers to sell her own property The Texas Real Estate Commission consists of ______. The commission members serve for _______ terms - ANSWER 9 members --- 6 year When a broker discharges a salesperson, he should: - ANSWER...
a freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of A.) scarcity B.) Fixity C.) Situs D.) Modification - ANSWER D.) Modification The supply of Real Estate ...
Preview 2 out of 13 pages
Add to carta freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of A.) scarcity B.) Fixity C.) Situs D.) Modification - ANSWER D.) Modification The supply of Real Estate ...
Brokerage is the aspect of the real estate business that pertains to overseeing the needs of the parities and completing a transaction - ANSWER True Property managers are generally responsible for the _________of a property that they manage. - ANSWER (1) Day-to-day operations (2) Maintenance (...
Preview 2 out of 13 pages
Add to cartBrokerage is the aspect of the real estate business that pertains to overseeing the needs of the parities and completing a transaction - ANSWER True Property managers are generally responsible for the _________of a property that they manage. - ANSWER (1) Day-to-day operations (2) Maintenance (...
The purpose of the TRELA is to... - ANSWER protect the public against unscrupulous brokers and salespersons. What is required to obtain a license in Texas? - ANSWER be a resident of Texas at least 18 yrs of age at the time of application, be of good moral character, must show competency by passi...
Preview 2 out of 6 pages
Add to cartThe purpose of the TRELA is to... - ANSWER protect the public against unscrupulous brokers and salespersons. What is required to obtain a license in Texas? - ANSWER be a resident of Texas at least 18 yrs of age at the time of application, be of good moral character, must show competency by passi...
Which of the following is an example of a limited common element? - ANSWER Parking Space A married couple buys a home for $400,000. Five years later, they sell it for $550,000. How much of their sale is taxable capital gain? - ANSWER $0. They get a $500,000 capital gains tax exclusion, and t...
Preview 2 out of 11 pages
Add to cartWhich of the following is an example of a limited common element? - ANSWER Parking Space A married couple buys a home for $400,000. Five years later, they sell it for $550,000. How much of their sale is taxable capital gain? - ANSWER $0. They get a $500,000 capital gains tax exclusion, and t...
The real estate law is found in the - ANSWER buisness and professions code The real estate commisioner reports to the - ANSWER Governor Sam owns 25%, Barbara owns 75%: this division of ownership is: - ANSWER Acceptable Sam is part owner of X Realty. When broker is absent Sam reviews work...
Preview 3 out of 21 pages
Add to cartThe real estate law is found in the - ANSWER buisness and professions code The real estate commisioner reports to the - ANSWER Governor Sam owns 25%, Barbara owns 75%: this division of ownership is: - ANSWER Acceptable Sam is part owner of X Realty. When broker is absent Sam reviews work...
The purpose of the Texas Real Estate License Act is: A. to regulate the sale of real property in Texas B. to prevent commission splits among licensees C. To protect the public against unscrupulous brokers and salesmen D. to define the rule of agents in real estate transactions - ANSWER C C...
Preview 4 out of 48 pages
Add to cartThe purpose of the Texas Real Estate License Act is: A. to regulate the sale of real property in Texas B. to prevent commission splits among licensees C. To protect the public against unscrupulous brokers and salesmen D. to define the rule of agents in real estate transactions - ANSWER C C...
brokerage - ANSWER the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships The role of a property manager - ANSWER Generally responsible for the day to day operat...
Preview 2 out of 15 pages
Add to cartbrokerage - ANSWER the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships The role of a property manager - ANSWER Generally responsible for the day to day operat...
What are the 4 economic Characteristics of land - ANSWER 1,Scarcity, 2, Modification, 3,Fixity 4, Situs Scarcity - ANSWER Supply and demand, When there is shortage of something that and individual wants the price goes up. Situs - ANSWER The location of the property or land from an economic n...
Preview 2 out of 7 pages
Add to cartWhat are the 4 economic Characteristics of land - ANSWER 1,Scarcity, 2, Modification, 3,Fixity 4, Situs Scarcity - ANSWER Supply and demand, When there is shortage of something that and individual wants the price goes up. Situs - ANSWER The location of the property or land from an economic n...
Courses for the renewal of an active real estate broker or sales agent license are called - 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 been r...
Preview 2 out of 6 pages
Add to cartCourses for the renewal of an active real estate broker or sales agent license are called - 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 been r...
In most markets, in which month would a real estate downcycle typically start? - ANSWER November You have a listing agreement with Sam, which makes him your ______. - ANSWER Client Who has the ultimate responsibility for the sales agent's actions in Texas? - ANSWER The sales agent, and the ...
Preview 4 out of 31 pages
Add to cartIn most markets, in which month would a real estate downcycle typically start? - ANSWER November You have a listing agreement with Sam, which makes him your ______. - ANSWER Client Who has the ultimate responsibility for the sales agent's actions in Texas? - ANSWER The sales agent, and the ...
a market where tenants negotiate rent and other terms with property owners of their managers is referred to as - ANSWER user market the market in which required rate of return on available investment opportunities are determined is refereed to as - ANSWER capital market the actions of local ...
Preview 1 out of 4 pages
Add to carta market where tenants negotiate rent and other terms with property owners of their managers is referred to as - ANSWER user market the market in which required rate of return on available investment opportunities are determined is refereed to as - ANSWER capital market the actions of local ...
emblements are best described by which of the following? - ANSWER Harvestable plants what states that a party, or parties, associated with a contract will cover certain losses or expenses incurred by another party under the contract? - ANSWER An indemnification clause which of these is NOT o...
Preview 2 out of 6 pages
Add to cartemblements are best described by which of the following? - ANSWER Harvestable plants what states that a party, or parties, associated with a contract will cover certain losses or expenses incurred by another party under the contract? - ANSWER An indemnification clause which of these is NOT o...
A portion of Lance's property can be used by the local utility company to maintain its power lines. What is this an example of? -ANSWER Easement Several brokerages in a certain area agree to stop running advertisements in a local publication. What type of antitrust violation is this? -ANSWER ...
Preview 3 out of 26 pages
Add to cartA portion of Lance's property can be used by the local utility company to maintain its power lines. What is this an example of? -ANSWER Easement Several brokerages in a certain area agree to stop running advertisements in a local publication. What type of antitrust violation is this? -ANSWER ...
D - ANSWER A freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of (a) scarcity (b) Fixity (c) Situs (d) Modification D - ANSWER The supply of Real Estate is...
Preview 3 out of 21 pages
Add to cartD - ANSWER A freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of (a) scarcity (b) Fixity (c) Situs (d) Modification D - ANSWER The supply of Real Estate is...
Contracts with a person who lacks mental capacity can be - ANSWER either void or voidable Community property is a concept of - ANSWER Spanish law, and marriage is regarded as a partnership. Intermediary Without Appointments. - ANSWER an agent will have the opportunity to sell their own listi...
Preview 2 out of 8 pages
Add to cartContracts with a person who lacks mental capacity can be - ANSWER either void or voidable Community property is a concept of - ANSWER Spanish law, and marriage is regarded as a partnership. Intermediary Without Appointments. - ANSWER an agent will have the opportunity to sell their own listi...
Anything that is fastened or attached to real property permanently is considered to be: - ANSWER Real Property A quitclaim deed releases all present claims, rights and title of the: - ANSWER Grantor When a creditor wants to satisfy a judgement which was levied against another person, the cre...
Preview 2 out of 9 pages
Add to cartAnything that is fastened or attached to real property permanently is considered to be: - ANSWER Real Property A quitclaim deed releases all present claims, rights and title of the: - ANSWER Grantor When a creditor wants to satisfy a judgement which was levied against another person, the cre...
Appraisal is the business of: - ANSWER Providing a professional opinion of the value of real property A professional association whose local affiliates own and operate MLS systems throughout the United States is the: - ANSWER NAR RMLOs in Texas are licensed through - ANSWER Texas Department ...
Preview 2 out of 11 pages
Add to cartAppraisal is the business of: - ANSWER Providing a professional opinion of the value of real property A professional association whose local affiliates own and operate MLS systems throughout the United States is the: - ANSWER NAR RMLOs in Texas are licensed through - ANSWER Texas Department ...
1. The _____ oversees, regulates, administers and enforces the real estate law. - ANSWER b) Department of Real Estate (DRE) 2. To be eligible for an agent license, the applicant needs to complete mandatory education, pass the qualifying exam and _____ : - ANSWER d) make the application on the pr...
Preview 2 out of 10 pages
Add to cart1. The _____ oversees, regulates, administers and enforces the real estate law. - ANSWER b) Department of Real Estate (DRE) 2. To be eligible for an agent license, the applicant needs to complete mandatory education, pass the qualifying exam and _____ : - ANSWER d) make the application on the pr...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller Luckyexams. Stuvia facilitates payment to the seller.
No, you only buy these notes for $125.58. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
81239 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
