RealEstateU: Texas Real Estate Principles Part 1 Final
Exam| 90 questions| with complete solutions
supply - -The amount of goods offered for sale within a given market at a given price
during a given time period.
General Agent - -A property manager is an example of what type of agent?
Special Agent - -A real estate agent is an example of what type of agent?
Residential, Commercial, and Industrial - -The general uses of real property include
the following:
Market Comparison Approach - -A means of comparing similar type properties
would have recently sold to the subject property is known as:
Surface Rights - -Mineral rights are typically considered dominant to which of the
following rights
real estate - -Land and everything permanently attached to land is defined as
Personal Property - -All property that is not land and is not permanently attached to
land is known as
Bundle of Rights - -The right of exclusion which allows a landowner to prevent others
from entering or occupying their property is included in the
Kitchen cabinets - -Which of the following is an example of a fixture
Intentions of the party, adaption of the item, mold and permanence of house item was
attached - -Which of the following is considered a legal test for determining if an item
is a fixture or not
customer - -This refers to the party the agent brings to the principal as seller or buyer
of the property.
General Agent - -An agent with full authority over one property of the principal is
known as a
, RealEstateU: Texas Real Estate Principles Part 1 Final
Exam| 90 questions| with complete solutions
Special Agent - -An agent with limited authority to act on behalf of the principal is
referred to as a
The agent finds a buyer who is ready, willing, and able to purchase the property. - -A
seller's agent is entitled to a commission after
customer - -A broker will work for a client and with a
Care - -The "C" in the acronym COALD stands for which fiduciary duty?
Assisting with counteroffers. - -The fiduciary duty of care when representing a buyer
includes
loyalty - -A broker must always place his/her client's interests above their own. This
is an example of what fiduciary duty?
disclosure - -A seller's broker is required to tell their client any relationship they may
have with the buyer. This is an example of what fiduciary duty?
honesty - -Which of the following is owed to a customer by an agent?
condominium - -a form of ownership of real property recognized in all states that
consists of individual ownership of some aspects and co-ownership in other aspects of the
property is known as
cooperative - -Not a form of real property
Propietary Lease - -Owners of a cooperative apartment holds this type of lease.
Converted use property - -A local real estate developer bought an abandoned school
building with the intention of converting it to residential units. This is an example of...
$250,000 - -An individual is exempt from paying taxes on capital gains for up to how
much in profit if he/she lived in the house for at least 2 of the last 5 years.
Exam| 90 questions| with complete solutions
supply - -The amount of goods offered for sale within a given market at a given price
during a given time period.
General Agent - -A property manager is an example of what type of agent?
Special Agent - -A real estate agent is an example of what type of agent?
Residential, Commercial, and Industrial - -The general uses of real property include
the following:
Market Comparison Approach - -A means of comparing similar type properties
would have recently sold to the subject property is known as:
Surface Rights - -Mineral rights are typically considered dominant to which of the
following rights
real estate - -Land and everything permanently attached to land is defined as
Personal Property - -All property that is not land and is not permanently attached to
land is known as
Bundle of Rights - -The right of exclusion which allows a landowner to prevent others
from entering or occupying their property is included in the
Kitchen cabinets - -Which of the following is an example of a fixture
Intentions of the party, adaption of the item, mold and permanence of house item was
attached - -Which of the following is considered a legal test for determining if an item
is a fixture or not
customer - -This refers to the party the agent brings to the principal as seller or buyer
of the property.
General Agent - -An agent with full authority over one property of the principal is
known as a
, RealEstateU: Texas Real Estate Principles Part 1 Final
Exam| 90 questions| with complete solutions
Special Agent - -An agent with limited authority to act on behalf of the principal is
referred to as a
The agent finds a buyer who is ready, willing, and able to purchase the property. - -A
seller's agent is entitled to a commission after
customer - -A broker will work for a client and with a
Care - -The "C" in the acronym COALD stands for which fiduciary duty?
Assisting with counteroffers. - -The fiduciary duty of care when representing a buyer
includes
loyalty - -A broker must always place his/her client's interests above their own. This
is an example of what fiduciary duty?
disclosure - -A seller's broker is required to tell their client any relationship they may
have with the buyer. This is an example of what fiduciary duty?
honesty - -Which of the following is owed to a customer by an agent?
condominium - -a form of ownership of real property recognized in all states that
consists of individual ownership of some aspects and co-ownership in other aspects of the
property is known as
cooperative - -Not a form of real property
Propietary Lease - -Owners of a cooperative apartment holds this type of lease.
Converted use property - -A local real estate developer bought an abandoned school
building with the intention of converting it to residential units. This is an example of...
$250,000 - -An individual is exempt from paying taxes on capital gains for up to how
much in profit if he/she lived in the house for at least 2 of the last 5 years.
