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Texas Real Estate Principles 1 - Unit 10 Exam questions & answers.
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Texas Real Estate Principles 1 - Unit 10 Exam questions & answers.

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  • September 13, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • texas real estate principles 1 unit 10 exam ques

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  • Texas Principles of Real Estate 1
  • Texas Principles of Real Estate 1

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Texas Real Estate Principles 1 - Unit 10
Exam questions & answers.
All of the following are examples of boundary lines, except: ANS -homestead



The amount it will cost to rebuild the same structure if it is built today is known as: ANS -replacement
value.



A(n) __________ is a fund the lender may require the borrower to establish in order to pay mortgage
default insurance, property taxes, and/or hazard insurance as they become due on the property during
the year. ANS -escrow account



What removes a portion of the value of a person's primary residence from the calculation of what a
person owes for property taxes? ANS -A homestead exemption



Real property is taxed at the local level according to: ANS -property value.



Insurance that provides coverage for the upper part of a residential loan in the event of default is: ANS -
mortgage insurance



What gives an indication of a home's architectural style? ANS -Its shape



The most common detached home is the: ANS -single-family residence



To establish a homestead, which of the following is true? ANS -A person must both intend to use the
land as a permanent residence and overt acts consistent with usage of the land as a home.



Policies usually pay __________, which is the additional housing and living expenses if the owner must
move out of the home temporarily while it is being restored. ANS -loss of use coverage

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