pearson vue practice exam
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Texas Real Estate Exam (State) NATIONAL REAL ESTATE EXAM PRA... Texas Real Estate State Exam Nationa
32 terms 164 terms 163 terms 219 term
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Terms in this set (78) Hide definitions
In stating a seller's price and terms to a prospective a. included in the listing agreement
buyer, the seller's broker is required by the law of agency
to state ONLY those terms that are
a. included in the listing agreement
b. based on the brokers evaluation of prevailing prices
and terms
c. favorable for the seller, as determined by the broker
d. attractive to buyers, as determined by the broker
a lot measuring 110 feet wide by 140 feet deep has a c. 6,300 sq ft
required setback of 30 feet in front, 20 feet in the rear,
and 20 feet on each side. if a builder wants to put a one-
story building on the lot, the MAXIMUM square footage
it can contain is
a. 3,300 sq ft
b. 3,600 sq ft
c. 6,300 sq ft
d. 6,600 sq ft
,a house with a market value of $80,000 is located where c. $2,240
property is assessed at 70% of market value. if the tax rate
is $4 per $100 of assessed value, the property taxes are
a. $224
b. $960
c. $2,240
d. $3,200
a broker charges a leasing fee of one-half of the first b. $1,331
months rent and a management fee of 8% of all rents
collected. the broker negotiates a two-year lease at a
monthly rental of $550. which of the following amounts
will the broker earn on this lease
a. $1,378
b $1,331
c. $1,287
d. $1,056
a property manager works in the BEST interests of the b. owner
a. tenant
b. owner
c. agent
d. bank
in reviewing the deed to a listed property, a licensee D. Restricted covenants
noted a number of limitations regarding its use. these
limitations aare commonly known as:
A. Codicils
B. constraints
C. building codes
D. restricted covenants
the price at which a willing and informed buyer would d. market value
buy and a willing and informed seller would sell is called
the
a. assessed value
b. book value
c. income approach to value
d. market value
, the income approach is MOST likely to be used when b. office building
determining the value of a
A. vacant residential lot
b. office building
c. single-family home
d. cooperative apartment
the G's purchased a house from the T's. the G's agreed to d. contract for deed
the following terms: monthly payments of $650 to the T's
and the balance to be paid in full after 7 years. at the time
the balance is paid, the T's will give the G's a warranty
deed transferring title. in this situation, what type of
financing was used
a. fha loan
b. wrap around mortgage
c. package mortgage
d. contract for deed
the provision in a mortgage or deed of trust that gives a. acceleration clause
the lender the right to call the entire balance due upon a
default in any payment is called a:
a. acceleration clause
b. prepayment penalty clause
c. prepayment priveledge clause
d. right of redemption clause
a broker who represents a buyer is trying to negotiate on b. buyer
the buyer's behalf in a potential transaction. the broker
realizes that by negotiating a reduced price for the buyer,
the broker's commission will also be reduced. in this
situation, the broker is obligated to negotiate the BEST
price for the
A. buyer and broker
b. buyer
c. seller
d. brokerage
K and R bought a house as tenants in common. If K dies, B. it is divided, with R retaining R's original interest and the balance going to K's
which of the following statements about ownership of the estate
house is CORRECT?
a. it automatically becomes tenancy in severalty
b. it is divided, with R retaining R's original interest and
the balance going to K's estate
C. R holds fee simple ownership in k's share of the
property
d. R holds life estate ownership in K's share of the
property
50 studiers today 4.8 (65 reviews)
Students also studied
Flashcard sets Study guides
Texas Real Estate Exam (State) NATIONAL REAL ESTATE EXAM PRA... Texas Real Estate State Exam Nationa
32 terms 164 terms 163 terms 219 term
madelineesmithh Preview talyn_provo1 Preview raineyd770 Preview clai
Terms in this set (78) Hide definitions
In stating a seller's price and terms to a prospective a. included in the listing agreement
buyer, the seller's broker is required by the law of agency
to state ONLY those terms that are
a. included in the listing agreement
b. based on the brokers evaluation of prevailing prices
and terms
c. favorable for the seller, as determined by the broker
d. attractive to buyers, as determined by the broker
a lot measuring 110 feet wide by 140 feet deep has a c. 6,300 sq ft
required setback of 30 feet in front, 20 feet in the rear,
and 20 feet on each side. if a builder wants to put a one-
story building on the lot, the MAXIMUM square footage
it can contain is
a. 3,300 sq ft
b. 3,600 sq ft
c. 6,300 sq ft
d. 6,600 sq ft
,a house with a market value of $80,000 is located where c. $2,240
property is assessed at 70% of market value. if the tax rate
is $4 per $100 of assessed value, the property taxes are
a. $224
b. $960
c. $2,240
d. $3,200
a broker charges a leasing fee of one-half of the first b. $1,331
months rent and a management fee of 8% of all rents
collected. the broker negotiates a two-year lease at a
monthly rental of $550. which of the following amounts
will the broker earn on this lease
a. $1,378
b $1,331
c. $1,287
d. $1,056
a property manager works in the BEST interests of the b. owner
a. tenant
b. owner
c. agent
d. bank
in reviewing the deed to a listed property, a licensee D. Restricted covenants
noted a number of limitations regarding its use. these
limitations aare commonly known as:
A. Codicils
B. constraints
C. building codes
D. restricted covenants
the price at which a willing and informed buyer would d. market value
buy and a willing and informed seller would sell is called
the
a. assessed value
b. book value
c. income approach to value
d. market value
, the income approach is MOST likely to be used when b. office building
determining the value of a
A. vacant residential lot
b. office building
c. single-family home
d. cooperative apartment
the G's purchased a house from the T's. the G's agreed to d. contract for deed
the following terms: monthly payments of $650 to the T's
and the balance to be paid in full after 7 years. at the time
the balance is paid, the T's will give the G's a warranty
deed transferring title. in this situation, what type of
financing was used
a. fha loan
b. wrap around mortgage
c. package mortgage
d. contract for deed
the provision in a mortgage or deed of trust that gives a. acceleration clause
the lender the right to call the entire balance due upon a
default in any payment is called a:
a. acceleration clause
b. prepayment penalty clause
c. prepayment priveledge clause
d. right of redemption clause
a broker who represents a buyer is trying to negotiate on b. buyer
the buyer's behalf in a potential transaction. the broker
realizes that by negotiating a reduced price for the buyer,
the broker's commission will also be reduced. in this
situation, the broker is obligated to negotiate the BEST
price for the
A. buyer and broker
b. buyer
c. seller
d. brokerage
K and R bought a house as tenants in common. If K dies, B. it is divided, with R retaining R's original interest and the balance going to K's
which of the following statements about ownership of the estate
house is CORRECT?
a. it automatically becomes tenancy in severalty
b. it is divided, with R retaining R's original interest and
the balance going to K's estate
C. R holds fee simple ownership in k's share of the
property
d. R holds life estate ownership in K's share of the
property
