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RealEstateU Texas Real Estate Principles Part 1 Final Exam questions with answers.
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RealEstateU Texas Real Estate Principles Part 1 Final Exam questions with answers.
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RealEstateU Texas Real EstatePrinciples Part 1 Final Exam questions
with answers.
supply ANS -The amount of goods offered for sale within a given market at a given price during a given
time period.
General Agent ANS -A property manager is an example of what type of agent?
Special Agent ANS -A real estate agent is an example of what type of agent?
Residential, Commercial, and Industrial ANS -The general uses of real property include the following:
Market Comparison Approach ANS -A means of comparing similar type properties would have recently
sold to the subject property is known as:
Surface Rights ANS -Mineral rights are typically considered dominant to which of the following rights
real estate ANS -Land and everything permanently attached to land is defined as
Personal Property ANS -All property that is not land and is not permanently attached to land is known as
Bundle of Rights ANS -The right of exclusion which allows a landowner to prevent others from entering
or occupying their property is included in the
Kitchen cabinets ANS -Which of the following is an example of a fixture
, Intentions of the party, adaption of the item, mold and permanence of house item was attached ANS -
Which of the following is considered a legal test for determining if an item is a fixture or not
customer ANS -This refers to the party the agent brings to the principal as seller or buyer of the
property.
General Agent ANS -An agent with full authority over one property of the principal is known as a
Special Agent ANS -An agent with limited authority to act on behalf of the principal is referred to as a
The agent finds a buyer who is ready, willing, and able to purchase the property. ANS -A seller's agent is
entitled to a commission after
customer ANS -A broker will work for a client and with a
Care ANS -The "C" in the acronym COALD stands for which fiduciary duty?
Assisting with counteroffers. ANS -The fiduciary duty of care when representing a buyer includes
loyalty ANS -A broker must always place his/her client's interests above their own. This is an example of
what fiduciary duty?
disclosure ANS -A seller's broker is required to tell their client any relationship they may have with the
buyer. This is an example of what fiduciary duty?
honesty ANS -Which of the following is owed to a customer by an agent?
condominium ANS -a form of ownership of real property recognized in all states that consists of
individual ownership of some aspects and co-ownership in other aspects of the property is known as
cooperative ANS -Not a form of real property
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