RealEstateU: Texas Real Estate Principles Part 1 Final Exam| 90 questions| with complete solutions
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Course
Texas Real Estate Principles
Institution
Texas Real Estate Principles
The amount of goods offered for sale within a given market at a given price during a given time period. correct answer: supply
A property manager is an example of what type of agent? correct answer: General Agent
A real estate agent is an example of what type of agent? correct answer: Spec...
RealEstateU: Texas Real Estate Principles Part 1 Final
Exam| 90 questions| with complete solutions
The amount of goods offered for sale within a given market at a given price during a given time period. correct answer: supply
A property manager is an example of what type of agent? correct answer: General Agent
A real estate agent is an example of what type of agent? correct answer: Special Agent
The general uses of real property include the following: correct answer: Residential, Commercial, and Industrial
A means of comparing similar type properties would have recently sold to the subject property is known as: correct answer:
Market Comparison Approach
Mineral rights are typically considered dominant to which of the
following rights correct answer: Surface Rights
Land and everything permanently attached to land is defined as correct answer: real estate
All property that is not land and is not permanently attached to land is known as correct answer: Personal Property
The right of exclusion which allows a landowner to prevent others from entering or occupying their property is included in the correct answer: Bundle of Rights Which of the following is an example of a fixture correct answer: Kitchen cabinets
Which of the following is considered a legal test for determining
if an item is a fixture or not correct answer: Intentions of the party, adaption of the item, mold and permanence of house item was attached
This refers to the party the agent brings to the principal as seller or buyer of the property. correct answer: customer
An agent with full authority over one property of the principal is
known as a correct answer: General Agent
An agent with limited authority to act on behalf of the principal is referred to as a correct answer: Special Agent
A seller's agent is entitled to a commission after correct answer: The agent finds a buyer who is ready, willing, and able to purchase the property.
A broker will work for a client and with a correct answer: customer
The "C" in the acronym COALD stands for which fiduciary duty? correct answer: Care
The fiduciary duty of care when representing a buyer includes correct answer: Assisting with counteroffers.
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