TX 30 Hour Principles Of Real Estate I Exam Questions With 100% Correct And Verified Answers
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TX 30 Hour Principles of Real Estate I
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TX 30 Hour Principles Of Real Estate I
TX 30 Hour Principles Of Real Estate I Exam Questions With 100% Correct And Verified Answers
A portion of Lance's property can be used by the local utility company to maintain its power lines. What is this an example of? - Correct Answer-Easement
Several brokerages in a certain area agree to st...
TX 30 Hour Principles Of Real Estate I
Exam Questions With 100% Correct And
Verified Answers
A portion of Lance's property can be used by the local utility
company to maintain its power lines. What is this an example of? -
Correct Answer-Easement
Several brokerages in a certain area agree to stop running
advertisements in a local publication. What type of antitrust
violation is this? - Correct Answer-Group boycotting
Homestead exemptions ______ property taxes for all homeowners
by protecting a certain amount of a Texas home's value from tax. -
Correct Answer-Decrease
What is the length of the statute of limitations to file a fair housing
complaint with HUD? - Correct Answer-One year
Lewis and Elliot started a real estate investment business together.
After much discussion with their attorney, they decided to
incorporate, but in such a way that they are treated like a
partnership and don't have to pay corporate taxes. What form of
business do they have? - Correct Answer-Subchapter S corporation
Which of the following is a true statement about the Texas seller's
disclosure of property condition law? - Correct Answer-It requires
sellers of single-family residential properties to disclose material
facts to buyers.
Novation is... - Correct Answer-the substitution of one or more of
the parties to a contract, creating a new contract.
,Rickie is a real estate licensee. She makes regular calls to customers
and past clients to market her services. If someone she calls asks to
be put on her internal "do not call" list, what is Rickie required to
do? - Correct Answer-Immediately place the customer's number on
her internal do not call list, and avoid making unsolicited calls from
that point forward
When does a buyer's market occur? - Correct Answer-When supply
is high and demand is low
Assignment of a contract is... - Correct Answer-the substitution of
one party for another, with the original party still being obligated
under the terms of the contract.
Which type of antitrust violation occurs when real estate firms agree
to divide their market so they don't compete with one another? -
Correct Answer-Market allocation
Which of the following is a possible outcome if a brokerage is found
guilty of violating antitrust law? - Correct Answer-The brokerage
may have to undergo court-ordered supervision for up to 10 years.
Net listings are... - Correct Answer-prohibited in several states, and
there's no guarantee of commission
A new business moves into town, significantly increasing the
availability of good paying jobs. How is this likely to affect the
town's housing market? - Correct Answer-Demand will go up,
creating a seller's market.
Which ownership type is defined by four unities: time, title, interest,
and possession? - Correct Answer-Joint tenancy
,Which of these statements best represents what happens after a
federal fair housing complaint is made? - Correct Answer-A fair
housing specialist will review the complaint.
Which of the following is a charge you would pay to your lender to arrange
the financing for your home loan? - Correct Answer-Origination fee
How many forms of ID are required when appearing for your Texas
licensing exam? - Correct Answer-Two
CAN-SPAM Act of 2003 - Correct Answer-Regulates
the distribution and content of unsolicited
commercial e-mail
Kelo v. City of New London was a court case that
focused on the power of ____________. - Correct
Answer-Eminent domain
Richard is interested in purchasing some rural land
and included outbuildings. When reviewing the
legal description, he sees the name of a principal
meridian. What type of legal description is this? -
Correct Answer-Rectangular government survey
Anastasia wants to get her real estate license and
bring together buyers and sellers. This means she
will be involved in which of the following? - Correct
Answer-Brokerage
Gloria has an option to purchase the cottage she
leases from her landlord. She can exercise the
option within the next two years. To gain that right,
Gloria paid the landlord $5,000. This is called
______. - Correct Answer-An option fee
, Which of the following expenses of home ownership
may be a tax deduction? - Correct Answer-Prepaid
interest
blockbusting - Correct Answer-Any attempt to
convince property owners that property values are
set to decline or sales will be difficult because of a
specific protected group moving into the area
Where can an agent report an antitrust violation? -
Correct Answer-Citizens Complaint Center of the
DOJ's Antitrust Division
Texas broker Clark has grown sick of the assumed
business name he's been using for the past few
years. What, if anything, must Clark do if he's
decided to stop using it? - Correct Answer-He must
notify the commission in writing by the 10th day
after the date the broker stops using the assumed
business name.
Is a license holder required to disclose information
surrounding a death at a property if that death
were a result of a defect on the property? - Correct
Answer-Yes. If a death occurred because of a defect
on the property, a licensee must disclose this
information when listing or selling that property.
What type of lien is defined as an involuntary lien
placed on all of the property received by a deceased
person's heirs? - Correct Answer-Estate/inheritance
lien
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