AYPO - Texas - Principles of Real Estate
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D) Texas Real Estate Commission (TREC) - answer What is the name of the governing
body for real estate in Texas?
A. Texas Real Estate Constitution (TREC)
B. Texas Real Estate Counselors (TREC)
C. Texas Real Estate Council (TREC)
D. Texas Real Estate Commission (TREC)
D) they conduct the unlawful practice of Law – answer TREC has the authority under
TRELA to suspend or even revoke a broker's license if:
A) they conduct the unauthorized practice of negotiation.
B) they conduct the unlicensed practice of property management.
C) they conduct the unlicensed practice of property development.
D) they conduct the unlawful practice of Law.
B) Education Standards Advisory Committee – answer ESAC stands for:
A) Education Systems Assistance Corporation
B) Education Standards Advisory Committee
C) Employment Standards Advisory Committee
D) Employment Standards Advisory Committee
A) Situs - answerWhat refers to a location from an economic rather than a geographic
standpoint?
A) Situs
B) Homogeneity
C) Immobility
D) Topography
C) 5th Amendment. - answerWhich amendment guarantees that a citizen will not be
deprived of property without due process of law?
A) 14th Amendment
B) 2nd Amendment.
C) 5th Amendment.
D) No amendment covers this eventuality.
A) Consumer Financial Protection Bureau - answerThe CFPB is the:
A) Consumer Financial Protection Bureau
B) Customer Financial Protection Bureau
C) Consumer Fiscal Protection Bureau
D) Client Financial Protection Bureau
,B) further a particular profession and the interests of individuals engaged in that
profession. - answerA professional organization or association is usually a not-for-profit
organization that seeks to:
A) find new revenue sources to grow the organization.
B) further a particular profession and the interests of individuals engaged in that
profession.
C) allow like-minded individuals to exclusively meet to discuss business issues with
each other.
D) hold educational seminars for the public to make them aware of the organization.
D) Future estimated value - answerWhich of these IS NOT a type of real property
value?
A) Assessed value
B) Estimated sales value
C) Replacement value
D) Future estimated value
A) Recession. - answerA contraction or generally slowing down of the economy is a:
A) Recession.
B) Expansion.
C) Depression.
D) Revival.
D) All of these answers are correct. - answerWhat is the primary purpose for real estate
licensing laws?
A) To protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
B) To set out minimum standards and qualifications for licensing brokers and sales
agents.
C) To protect licensed brokers and sales agents from unfair or improper competition.
D) All of these answers are correct.
B) to the respondent of the complaint. - answerPer 1101.2051(b), information or
material prepared or compiled by the commission in connection with a complaint,
investigation, or audit may be disclosed:
A) it may not be disclosed under any circumstances.
B) to the respondent of the complaint.
C) to a legal representative of the complainant.
D) to a citizen writing in a complaint against a licensee.
C) on the Internet. - answerAccording to Sec. 1101.159, the commission must ensure
that the public is able to interact with the commission:
A) in the Texas Legislature.
B) in TREC meetings.
C) on the Internet.
,D) in person.
C) Fixity - answerInvestment permanence is another term for:
A) Scarcity
B) Situs
C) Fixity
D) Modification
D) All of these - answerThe Real Estate License Act defines a broker as a person who
does which of these?
A) Negotiates or attempts to negotiate the listing, sale, exchange, purchase, or lease of
real estate
B) lists or offers, attempts, or agrees to list real estate for sale, lease, or exchange
C) procures or assists in procuring a prospect to effect the sale, exchange, or lease of
real estate
D) All of these
C) Amusement Park Management - answerA short list of types of specialized
brokerages in Texas, includes all of these, except:
A) Rental Properties
B) Property Management
C) Amusement Park Management
D) Farm and Ranch Properties
A) Forestry Maintenance - answerWhich of these is NOT a type of real property?
A) Forestry Maintenance
B) Agricultural
C) Mixed Use Property
D) Commercial
B) All of these. - answerReal property, often referred to as real estate, includes which of
the following?
A) Land.
B) All of these.
C) Natural resources like water, minerals, and crops.
D) Structures attached directly to the land.
A) harvestable plants, trees, and cultivated vegetation. - answer"Emblements" are best
described by which of the following?
A) harvestable plants, trees, and cultivated vegetation.
B) impediments to the free and clear ownership and use of property.
C) the unauthorized intrusion of vegetation onto another person's land.
D) fixtures.
B) All of the answers together are correct. - answerA manufactured home can be
considered real property if:
, A) both the Texas Department of Housing and Community Affairs and the home's
county's chief tax appraiser have been notified of the filing
B) All of the answers together are correct.
C) the owner of the home has elected to treat the home as their real property
D) a certified copy of the "Statement of ownership and location" for the home has been
filed by the owner in the real property records of the county where the home is located
C) Investment. - answerWhich of these is not a classification of real property?
A) Commercial.
B) Residential.
C) Investment.
D) Agricultural.
C) Cost of the object - answerWhich of these IS NOT a factor to consider in determining
if an object is a fixture?
A) Manner of Attachment
B) Intention of the installer
C) Cost of the object
D) Adaptation of the object
D) Permanency of the method of attachment - answerThe ____________ is a factor in
determining if something is a fixture
1) Age and Condition
B) Original cost and remaining balance
C) Previous ownership
D) Permanency of the method of attachment
A) The owner of the home has elected to treat the home as their real property -
answerWhich of the following is a major key to a manufactured home in Texas being
considered real property?
A) The owner of the home has elected to treat the home as their real property
B) The owner also owns the land beneath it, regardless of the owner's intent
C) The home was placed there prior to 1982
D) The home has been in the same place for more than two years
A) All of these are elements of location - answerWhich of these is an element of
location?
A) All of these are elements of location
B) Cultural opportunities
C) Employment opportunities
D) Transportation
D) Employment opportunity - answerThe number one reason that people move is:
A) Social Services
B) Education
C) Transportation
1
D) Texas Real Estate Commission (TREC) - answer What is the name of the governing
body for real estate in Texas?
A. Texas Real Estate Constitution (TREC)
B. Texas Real Estate Counselors (TREC)
C. Texas Real Estate Council (TREC)
D. Texas Real Estate Commission (TREC)
D) they conduct the unlawful practice of Law – answer TREC has the authority under
TRELA to suspend or even revoke a broker's license if:
A) they conduct the unauthorized practice of negotiation.
B) they conduct the unlicensed practice of property management.
C) they conduct the unlicensed practice of property development.
D) they conduct the unlawful practice of Law.
B) Education Standards Advisory Committee – answer ESAC stands for:
A) Education Systems Assistance Corporation
B) Education Standards Advisory Committee
C) Employment Standards Advisory Committee
D) Employment Standards Advisory Committee
A) Situs - answerWhat refers to a location from an economic rather than a geographic
standpoint?
A) Situs
B) Homogeneity
C) Immobility
D) Topography
C) 5th Amendment. - answerWhich amendment guarantees that a citizen will not be
deprived of property without due process of law?
A) 14th Amendment
B) 2nd Amendment.
C) 5th Amendment.
D) No amendment covers this eventuality.
A) Consumer Financial Protection Bureau - answerThe CFPB is the:
A) Consumer Financial Protection Bureau
B) Customer Financial Protection Bureau
C) Consumer Fiscal Protection Bureau
D) Client Financial Protection Bureau
,B) further a particular profession and the interests of individuals engaged in that
profession. - answerA professional organization or association is usually a not-for-profit
organization that seeks to:
A) find new revenue sources to grow the organization.
B) further a particular profession and the interests of individuals engaged in that
profession.
C) allow like-minded individuals to exclusively meet to discuss business issues with
each other.
D) hold educational seminars for the public to make them aware of the organization.
D) Future estimated value - answerWhich of these IS NOT a type of real property
value?
A) Assessed value
B) Estimated sales value
C) Replacement value
D) Future estimated value
A) Recession. - answerA contraction or generally slowing down of the economy is a:
A) Recession.
B) Expansion.
C) Depression.
D) Revival.
D) All of these answers are correct. - answerWhat is the primary purpose for real estate
licensing laws?
A) To protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
B) To set out minimum standards and qualifications for licensing brokers and sales
agents.
C) To protect licensed brokers and sales agents from unfair or improper competition.
D) All of these answers are correct.
B) to the respondent of the complaint. - answerPer 1101.2051(b), information or
material prepared or compiled by the commission in connection with a complaint,
investigation, or audit may be disclosed:
A) it may not be disclosed under any circumstances.
B) to the respondent of the complaint.
C) to a legal representative of the complainant.
D) to a citizen writing in a complaint against a licensee.
C) on the Internet. - answerAccording to Sec. 1101.159, the commission must ensure
that the public is able to interact with the commission:
A) in the Texas Legislature.
B) in TREC meetings.
C) on the Internet.
,D) in person.
C) Fixity - answerInvestment permanence is another term for:
A) Scarcity
B) Situs
C) Fixity
D) Modification
D) All of these - answerThe Real Estate License Act defines a broker as a person who
does which of these?
A) Negotiates or attempts to negotiate the listing, sale, exchange, purchase, or lease of
real estate
B) lists or offers, attempts, or agrees to list real estate for sale, lease, or exchange
C) procures or assists in procuring a prospect to effect the sale, exchange, or lease of
real estate
D) All of these
C) Amusement Park Management - answerA short list of types of specialized
brokerages in Texas, includes all of these, except:
A) Rental Properties
B) Property Management
C) Amusement Park Management
D) Farm and Ranch Properties
A) Forestry Maintenance - answerWhich of these is NOT a type of real property?
A) Forestry Maintenance
B) Agricultural
C) Mixed Use Property
D) Commercial
B) All of these. - answerReal property, often referred to as real estate, includes which of
the following?
A) Land.
B) All of these.
C) Natural resources like water, minerals, and crops.
D) Structures attached directly to the land.
A) harvestable plants, trees, and cultivated vegetation. - answer"Emblements" are best
described by which of the following?
A) harvestable plants, trees, and cultivated vegetation.
B) impediments to the free and clear ownership and use of property.
C) the unauthorized intrusion of vegetation onto another person's land.
D) fixtures.
B) All of the answers together are correct. - answerA manufactured home can be
considered real property if:
, A) both the Texas Department of Housing and Community Affairs and the home's
county's chief tax appraiser have been notified of the filing
B) All of the answers together are correct.
C) the owner of the home has elected to treat the home as their real property
D) a certified copy of the "Statement of ownership and location" for the home has been
filed by the owner in the real property records of the county where the home is located
C) Investment. - answerWhich of these is not a classification of real property?
A) Commercial.
B) Residential.
C) Investment.
D) Agricultural.
C) Cost of the object - answerWhich of these IS NOT a factor to consider in determining
if an object is a fixture?
A) Manner of Attachment
B) Intention of the installer
C) Cost of the object
D) Adaptation of the object
D) Permanency of the method of attachment - answerThe ____________ is a factor in
determining if something is a fixture
1) Age and Condition
B) Original cost and remaining balance
C) Previous ownership
D) Permanency of the method of attachment
A) The owner of the home has elected to treat the home as their real property -
answerWhich of the following is a major key to a manufactured home in Texas being
considered real property?
A) The owner of the home has elected to treat the home as their real property
B) The owner also owns the land beneath it, regardless of the owner's intent
C) The home was placed there prior to 1982
D) The home has been in the same place for more than two years
A) All of these are elements of location - answerWhich of these is an element of
location?
A) All of these are elements of location
B) Cultural opportunities
C) Employment opportunities
D) Transportation
D) Employment opportunity - answerThe number one reason that people move is:
A) Social Services
B) Education
C) Transportation
