Principles of Real Estate 1- Champions
School of Real Estate. Exam Questions With
Correct Answers.
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 affected by
(a) Land cost
(b) Building codes
(c) Government regulations
(d) All of these
B - answer✔✔The least important factor affecting demand for real estate is:
(a) Population Growth
(b) Personal Preference
(c) Availability of Credit
(d) Transportation Systems
C - answer✔✔A lawsuit was tried on a real estate matter. The judge ruled in the case, citing the
decision of a judge in a similar case that was tried ten years ago. The judges decision in the case
was most likely based upon:
(a) Statutory Law
(b) Civil Law
(c) Common Law
(d) Local ordinance
A - answer✔✔A license holder was tried in a state district court on a complaint arising from a
real estate transaction. The court ruled that, among other transgressions, the defendant had
violated the Texas Real Estate License Act. This decision of the judge was based upon:
(a) Statutory law
(b) Civil Law
(c) Common Law
(d) Local Ordinance
C - answer✔✔RMLOs in Texas are licensed through:
(a) Texas Real Estate Commission
(b) National Mortgage Bankers Association
(c) Texas Department of Savings and Mortgage Lending
(d) Texas savings and loan board
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
characteristics of:
C - answer✔✔Effective in 1976, manufactured homes have been built according to a building
code administered by:
(a) Local building departments
(b) State code enforcement
(c) HUD
(d) FHA
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