Exam (elaborations)
RealEstateU: Texas Real Estate Principles Part 1 Final Exam Questions & Answers
- Course
- Institution
RealEstateU: Texas Real Estate Principles Part 1 Final Exam Questions & Answers
[Show more]
Seller
Follow
Victorious23
Reviews received
Content preview
RealEstateU: Texas Real EstatePrinciples Part 1 Final Exam Questions &
Answers
supply - -The amount of goods offered for sale within a given market at a
given price during a given time period.
-General Agent - -A property manager is an example of what type of agent?
-Special Agent - -A real estate agent is an example of what type of agent?
-Residential, Commercial, and Industrial - -The general uses of real property
include the following:
-Market Comparison Approach - -A means of comparing similar type
properties would have recently sold to the subject property is known as:
-Surface Rights - -Mineral rights are typically considered dominant to which
of the following rights
-real estate - -Land and everything permanently attached to land is defined
as
-Personal Property - -All property that is not land and is not permanently
attached to land is known as
-Bundle of Rights - -The right of exclusion which allows a landowner to
prevent others from entering or occupying their property is included in the
-Kitchen cabinets - -Which of the following is an example of a fixture
-Intentions of the party, adaption of the item, mold and permanence of
house item was attached - -Which of the following is considered a legal test
for determining if an item is a fixture or not
-customer - -This refers to the party the agent brings to the principal as
seller or buyer of the property.
-General Agent - -An agent with full authority over one property of the
principal is known as a
-Special Agent - -An agent with limited authority to act on behalf of the
principal is referred to as a
, -The agent finds a buyer who is ready, willing, and able to purchase the
property. - -A seller's agent is entitled to a commission after
-customer - -A broker will work for a client and with a
-Care - -The "C" in the acronym COALD stands for which fiduciary duty?
-Assisting with counteroffers. - -The fiduciary duty of care when
representing a buyer includes
-loyalty - -A broker must always place his/her client's interests above their
own. This is an example of what fiduciary duty?
-disclosure - -A seller's broker is required to tell their client any relationship
they may have with the buyer. This is an example of what fiduciary duty?
-honesty - -Which of the following is owed to a customer by an agent?
-condominium - -a form of ownership of real property recognized in all
states that consists of individual ownership of some aspects and co-
ownership in other aspects of the property is known as
-cooperative - -Not a form of real property
-Propietary Lease - -Owners of a cooperative apartment holds this type of
lease.
-Converted use property - -A local real estate developer bought an
abandoned school building with the intention of converting it to residential
units. This is an example of...
-$250,000 - -An individual is exempt from paying taxes on capital gains for
up to how much in profit if he/she lived in the house for at least 2 of the last
5 years.
-principal - -The employer of an agent is referred to as the...
-Express Agency - -An agency relationship created by oral or written
agreement between principal and the agent is known as...
-Listing Contract - -A contract whereby a property owner employs a real
estate broker to market the property described in the contract is referred to
as the...
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
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!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
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.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76669 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now