TEXAS PRINCIPLES 1 EXAM PRACTICE QUESTIONS WITH ANSWERS - CHAMPIONS SCHOOL OF REAL ESTATE.VERIFIED(WITH COMPLETE SOLUTIONS)

TEXAS PRINCIPLES 1 EXAM PRACTICE QUESTIONS WITH ANSWERS - CHAMPIONS SCHOOL OF REAL ESTATE.VERIFIED(WITH COMPLETE SOLUTIONS) Texas Principles 1 Exam Practice Questions - Champions School of Real Estate 1. a: Townhomes and single-family homes differ in that ______a common wall. (a) townhomes share (b) single-family homes are sold as distinct living units within (c) owners of townhomes do not own the land because of (d) townhomes are retro-commissioned and share 2. a: Rights that are associated with the ownership of real property are often referred to as the owner's: (a) Bundle of rights (b) Constitutional rights (c) Statutory rights (d) Civil rights 3. a: The agreement between a broker and a client is most often a(n) __________ agency relationship. (a) Special (b) General (c) Universal (d) Sub 4. a: A professional association whose local affiliates own and operate MLS systems throughout the United States is the: (a) NAR (b) CCIM (c) BOMA (d) ICSC 5. a: The concept behind the government survey system is the ________ of a grid on top of the land. (a) overlay (b) metes and bounds (c) coordinates (d) leaps and bounds 6. a: You can use the acronym ____________ to remember the five essential elements of a valid and enforceable contract. (a) COLIC (contractual capacity, offer and acceptance, legality of object, In writing & signed, and Consideration) (b) COLLIE (c) EOVEC (d) OLDCAR (obedience, loyalty, disclosure, confidentiality, accountability, and Reasonable care/diligence) 7. a: Releases can terminate ________. (a) easements (b) prescriptions (c) implied grants (d) necessities