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Texas Principles Of Real Estate 1 Practice Exam (2023/2024) Newest Questions and Answers (Verified Answers) $12.00   Add to cart

Exam (elaborations)

Texas Principles Of Real Estate 1 Practice Exam (2023/2024) Newest Questions and Answers (Verified Answers)

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Texas Principles Of Real Estate 1 Practice Exam (2023/2024) Newest Questions and Answers (Verified Answers)

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  • November 30, 2023
  • 26
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
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Real Estate Principles 1 Practice Exam

1.Homestead rights don't offer protections from .....: tax liens

2.Which of the following is NOT one of the physical characteristics of land?-

: Density

3.Which of these is an example of emblements?: an annually cultivated

crop

4.Which of the following serves as the basis of all real estate law in the

United States?: US Constitution

5.For which of following things can an agent NOT discriminate:: National

Origin

6.A plat is used in which method of land description?: Lot and Block

7.Wesley just bought a house with a creek that flows along the south

bound- ary. He wants to use the water to irrigate his garden. Through which

set of rights is he entitled to use this water?: Riparian


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,8.What is the name of the law that requires a commission to examine

state agencies every 12 years to see if they're still needed?: Sunset Act

9.What does the term real property NOT include?: chattel

10.Mutual assent, legally competent parties, consideration, lawful

objective, and adherence to the statute of frauds are:: the five components

of a valid contract

11.The National Association of Realtor's ethical guidelines are known as:: -

First adopted in 1913, the National Association of Realtor's ethical

standard is laid out in the Code of Ethics.

12.How many TREC promulgated contract forms are there?: The six TREC

promulgated contract forms are: One to Four Family Residential

Contract (Resale), Unimproved Property Contract, New Home Contract

(Incomplete Construction), New Home Contract (Completed

Construction), Farm and Ranch Contract, and Residential Condominium

Contract (Resale).

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, 13.Which land description is used for elevated areas such as in a condo?: -

Vertical land description

14.Texas homestead laws would protect a primary residence from

being seized and used as collateral by:: Credit card companies

15.Can the original offer be reconsidered and accepted by a party after

they have already extended a counteroffer?: No. A counteroffer is a

rejection of the original offer, therefore, the original offer can no longer

be accepted.

16.A detailed description that uniquely identifies the property in such a

way that a surveyor would be able to locate it is called a(n):: legal

description

17.Surface, subsurface, and air rights are all parts of:: land

18.Which real estate body is made up of 9 members and which is made up

of 13 members?: The Texas Real Estate Commission is comprised of 9

members and the Broker Lawyer Committee is comprised of 13

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