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Principles of real Estate 1 (30-hours) FINAL EXAM Texas questions & answers.
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Principles of real Estate 1 (30-hours)FINAL EXAM Texas questions &
answers.
emblements are best described by which of the following? ANS - Harveststable plants
what states that a party, or parties, associated with a contract will cover certain losses or expenses
incurred by another party under the contract? ANS - An indemnification clause
which of these is NOT one of the five duties owed by a fiduciary? ANS - infidelity
which of these is NOT associated with metes and bounds measurements? ANS - monuments
FTC&__ is a comprehensive consumer act and includes all violations of the Sherman and clayton Acts.
ANS - 15
multiple real estate brokerages establishing an across-the-board 6% commission for their agent would
be guilty of which of these? ANS - price fixing
which kind of easement not only allows access to another person's property but also allows the removal
of material resources contained in the property? ANS - A profit
under legal guidelines established by court precedent in contact law, law which of these statement is
false? ANS - printed agreement override signed and dated handwritten changes to the printed
agreement.
what is the name of the governing body for real estate in texas? ANS - Texas real Estate
Commission(TREC)
, Which of the following fulfills section 1101.806 of TRELA requirements fir compensation? ANS - the
agreement to pay was in writing and sighed by the party to be charged.
the commission may require a license suspension or revocation is "probated" to do which of these? ANS
- limit practice to an area prescribed by the commission.
"modifications" in real estate terms are also referred to as which of these? ANS - improvements
prior to introduction of the condominium concept, property ownership had been limited to ownership
had been limited to ownership if which of the following? ANS - land
The party possessing an encumbrance on another party's property has a/an __________ that property.
ANS - all of these are correct
The largest and most complete bundle of rights of ownership is which of these? ANS - Fee simple
absolute.
which amendment guarantees that a citizen will not be deprived of property without due process of
law? ANS - 5th Amendment
The practice wherein consumers of protected classes are directed to certain neighborhoods when
shopping for housing is called: ANS - Redlining
Which of the following is an element that will be found in nearly every kind of listing agreement? ANS -
The broker's commission and broker fee.
Which of these IS NOT one of the five cannons of ethics? ANS - cooperation
a subpoena may be issued throughout the estate and may be served by: ANS - any person designated
by the commsion.
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