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Texas Principles of Real Estate 1: Quiz Questions with accurate Answers
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Texas Principles of Real Estate 1: QuizQuestions with accurate Answers
Special Agent - -A real estate agent is an example of what type of agent...?
Universal Agent
General Agent
Special Agent
Specific Agent
-Market Comparison Approach - -A means of comparing similar type
properties, which have recently sold, to the subject property is known as
the...?
Cost Approach
Assessment Approach
Income Approach
Market Comparison Approach
-Listing Contract - -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
-Commercial Property - -Properties with five or more dwelling units are
considered...?
Special Purpose Property
Commercial Property
Industrial Property
Residential Property
-Supply - -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
, -All of the Above - -The general uses of real property include which of the
following...?
Residential
Industrial
Commercial
All of the above
-The Salesperson's Sponsoring Broker - -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
-General Agent - -A property manager is an example of what type of
agent...?
Universal Agent
Specific Agent
General Agent
Special Agent
-Principal - -The employer of an agent is known as the...?
Principal
All of the above
Customer
Escrow
-Residential - -The market comparison approach is commonly used for this
property type...?
Mixed-use
Industrial
Residential
Commercial
-Real Estate - -Land and everything permanently attached to land is defined
as...?
Bundle of Rights
Real Property
Fixture
Real Estate
, -Personal Property - -A refrigerator is typically considered...?
Fixture
Real Property
Personal Property
Emblements
-Personal Property - -All property that is not land and is not permanently
attached to land is known as...?
Personal Property
Real Property
Real Estate
Fixture
-Surface Rights - -Mineral rights are typically considered dominant to which
of the following rights...?
Sub-surface rights
None of the above
Air rights
Surface rights
-All of the Above - -Which of the following is considered a legal test for
determining if an item is a fixture or not...?
Intention of the parties
Mode and permanence of how the item was attached
Adaptation of the item
All of the above
-Bundle of Rights - -The right of exclusion, which allows a landowner to
prevent others from entering or occupying their property, is included in
the...?
Riparian Rights
Littoral Rights
Air Rights
Bundle of Rights
-Mineral Rights - -The landowner's ability to take minerals from the earth or
to sell or lease this right to others is known as...?
Bundle of Rights
Land Rights
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