Aceable Agent Exam Questions with 100% Correct Answers

Aceable Agent Exam Questions with 100% Correct Answers Apartment Locators - answera real estate license holder who locates dwelling units for prospective tenants Tenant - answerone who possesses a property under a lease without ownership Broker - answersomeone who assists in buying and selling to receive a commission Client - answera person or company that buys or leases any product or service Land - answerthe surface of the earth, extending down to the center of the earth and up into space Real Estate - answerincludes the land and any natural or manmade improvements attached to it Real Property - answerincludes land and any natural or manmade improvements attached to it, plus the bundle of legal rights of ownership Personal Property - answeritems that can easily be removed from the land Immobility - answercharacteristic of land stating that land has a particular geographical location that will remain constant, barring erosion or slow, geological changes Real Estate Broker - answera person or corporation who markets to find buyers and sellers to put together in exchange for a commission Broker's Price Opinion (BPO) - answera broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property Closing - answerthe completion of a real estate transaction in which the buyer receives ownership and the seller receives the contract amount Comparative Market Analysis (CMA) - answera report comparing the prices of sold homes that are similar to the subject property (called comparables); created by a license holder to help the seller or buyer determine the market price Misrepresentation - answera false statement (spoken or written) that is made unintentionally Party - answera person involved in a contract for sale, lease, or agency Commingle - answeran illegal act of a license holder who mixes their own money with a client's or customer's money Promulgated Forms - answerforms prepared and authorized by the Texas Real Estate Commission that MUST be used by real estate license holders Approved Forms - answerforms prepared and authorized by the Texas Real Estate Commission that CAN be used by real estate license holders Cloud on the Title - answeran encumbrance that keeps the title to the property from transferring easily Puffing - answerthe exaggeration of opinions about real estate Nolo Contendere - answera plea in a criminal court in which the defendant accepts the punishment without