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ACEABLE REAL ESTATE PRINCIPALS 1 EXAM PRACTICE TEST 2024/ACTUAL EXAM QUESTIONS WITH CORRECT DETAILED AND VERIFIED ANSWERS/LATEST UPDATE /ALREADY GRADED A+$17.99
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ACEABLE REAL ESTATE PRINCIPALS 1 EXAM PRACTICE TEST 2024/ACTUAL EXAM QUESTIONS WITH CORRECT DETAILED AND VERIFIED ANSWERS/LATEST UPDATE /ALREADY GRADED A+
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ACEABLE REAL ESTATE PRINCIPALS 1
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ACEABLE REAL ESTATE PRINCIPALS 1
ACEABLE REAL ESTATE PRINCIPALS 1 EXAM PRACTICE TEST 2024/ACTUAL EXAM QUESTIONS WITH CORRECT DETAILED AND VERIFIED ANSWERS/LATEST UPDATE /ALREADY GRADED A+
What is a REALTOR®? - CORRECT ANS:->>>- a member of the National Association of Realtors®.
Which of the following is NOT a cate...
ACEABLE REAL ESTATE PRINCIPALS 1 EXAM
PRACTICE TEST 2024/ACTUAL EXAM QUESTIONS
WITH CORRECT DETAILED AND VERIFIED
ANSWERS/LATEST UPDATE 2024-2025/ALREADY
GRADED A+
What is a REALTOR®? - CORRECT ANS:->>>- a member of the National
Association of Realtors®.
Which of the following is NOT a category of the NAR® Code of Ethics? -
CORRECT ANS:->>>- Duties to lenders
Select the statement that describes why trade fixtures are considered personal
property.- CORRECT ANS:->>>- Trade fixtures are items that a tenant uses in
their business that will be removed at the end of the lease.
What is the word used to describe something valuable that each party exchanges
in order to demonstrate that they agree to the contract's terms? - CORRECT
ANS:->>>- consideration
In which type of residential property does a resident hold no actual ownership in
the property, but instead holds a proprietary lease as a stockholder? - CORRECT
ANS:->>>- co-op
,Where do the funds in the Real Estate Recovery Trust Account come from? -
CORRECT ANS:->>>-license holders
When a broker signs a listing agreement with a seller, under what classification of
agency are they operating? - CORRECT ANS:->>>- special agency
What does the ADA do? - CORRECT ANS:->>>- Prohibits discrimination
against people withdisabilities
For which of following things can an agent NOT discriminate? - CORRECT ANS:-
>>>- national origin
According to the Equal Credit Opportunity Act (ECOA), which of these factors
can a lender NOT take into consideration when approving or denying a loan? -
CORRECT ANS:->>>- whether or not a person uses public assistance
According the Rectangular Survey system, what is the acreage of an area of land
identified as the N 1/2 of the S/W 1/4 of the NE 1/4? - CORRECT ANS:->>>- 20
acres
, In Texas, mandatory membership to an HOA must be: - CORRECT ANS:->>>-
disclosed
A married couple purchased a primary residence for $600,000 in 2015. They lived
there for seven years. In 2022, they sold the property for $1,000,000. How much
profit will they owe capital gains tax on? - CORRECT ANS:->>>- 0
Which of the following best describes when a broker might act as an intermediary in
Texas? - CORRECT ANS:->>>- when both the seller and the buyer are clients of
the same broker
What is the term for a rejection of an offer to buy or sell made with the
simultaneous substitution of a new offer? - CORRECT ANS:->>>- counteroffer
The primary difference between an executory and an executed contract has to do
with :- CORRECT ANS:->>>- whether or not the terms of the contract have been
completely fulfilled by allparties
When land is in short supply and in high demand: - CORRECT ANS:->>>- it will
be more valuable
, What is required for a broker to act as an intermediary in a real estate
transaction? -CORRECT ANS:->>>- written consent from both parties
Which of these events is least likely to be covered by standard hazard (homeowners)
insurance? - CORRECT ANS:->>>- Jason's basement flooded in a hurricane
What type of property rights are limited to 10 acres of contiguous parcels (for
urbanproperty) or up to 200 acres of rural property? - CORRECT ANS:->>>-
homestead rights
Which of these would create constructive notice that you owned a property? -
CORRECT ANS:->>>-recording the deed with the county
Who does a listing agent usually represent? - CORRECT ANS:->>>- seller
Molly is part of a limited partnership. She does not handle the day-to-day business
of the partnership, and she is liable only for the money she has invested in the
partnership. Based on this description, what kind of partner is Molly most likely to
be? - CORRECT ANS:->>>- limited partner
The starting point for a metes and bounds legal description is called a: -
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