Texas Principles of Real Estate 1: Quiz Questions and Answers Latest 2024/2025 with complete solutions
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Course
Texas Principles of Real Estate
Institution
Texas Principles Of Real Estate
When an insured homeowner is covered and reimbursed for the actual cost of replacing the damaged
property, these costs are known as...?
Replacement Costs
Title Costs
Estimated Costs
Insurance Costs - Replacement Costs
All property that is not land and is not permanently attached to land is kn...
A contract in which a property owner employs a real estate broker to market the property described in
the contract is known as the...
,Agency Disclosure Contract
Purchase and Sales Contract
Closing Contract
Listing Contract - Listing Contract
Properties with five or more dwelling units are considered...?
Special Purpose Property
Commercial Property
Industrial Property
Residential Property - Commercial Property
The amount of goods offered for sale within a given market at a given price during a given time period is
known as...
Demand
GDP
Supply
None of the above - Supply
The general uses of real property include which of the following...?
Residential
Industrial
Commercial
All of the above - All of the Above
If a real estate salesperson closes on a transaction, who pays the salesperson their commission...?
,The Buyer
The salesperson's sponsoring broker
Whatever is stated in the listing agreement
The Seller - The Salesperson's Sponsoring Broker
A property manager is an example of what type of agent...?
Universal Agent
Specific Agent
General Agent
Special Agent - General Agent
The employer of an agent is known as the...?
Principal
All of the above
Customer
Escrow - Principal
A real estate agent is an example of what type of agent...?
Universal Agent
General Agent
Special Agent
Specific Agent - Special Agent
The market comparison approach is commonly used for this property type...?
, Mixed-use
Industrial
Residential
Commercial - Residential
Land and everything permanently attached to land is defined as...?
Bundle of Rights
Real Property
Fixture
Real Estate - Real Estate
A refrigerator is typically considered...?
Fixture
Real Property
Personal Property
Emblements - Personal Property
Mineral rights are typically considered dominant to which of the following rights...?
Sub-surface rights
None of the above
Air rights
Surface rights - Surface Rights
Which of the following is considered a legal test for determining if an item is a fixture or not...?
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