TEXAS PRINCIPLES OF REAL ESTATE QUESTIONS AND
CORRECT ANSWERS LATEST GRADE A+
Special Agent - Answer A real estate agent is an example of what type of agent...?
a. Universal Agent
b. General Agent
c. Special Agent
d. Specific Agent
Market Comparison Approach - Answer A means of comparing similar type properties,
which have recently sold, to the subject property is known as the...?
a. Cost Approach
b. Assessment Approach
c. Income Approach
d. Market Comparison Approach
Listing Contract - Answer A contract in which a property owner employs a real estate
broker to market the property described in the contract is known as the...
a. Agency Disclosure Contract
b. Purchase and Sales Contract
c. Closing Contract
d. Listing Contract
Commercial Property - Answer Properties with five or more dwelling units are
considered...?
,a. Special Purpose Property
b. Commercial Property
c. Industrial Property
d. Residential Property
Supply - Answer The amount of goods offered for sale within a given market at a given
price during a given time period is known as...
a. Demand
b. GDP
c. Supply
d. None of the above
All of the Above - Answer The general uses of real property include which of the
following...?
a. Residential
b. Industrial
c. Commercial
d. All of the above
The Salesperson's Sponsoring Broker - Answer If a real estate salesperson closes on a
transaction, who pays the salesperson their commission...?
a. The Buyer
b. The salesperson's sponsoring broker
c. Whatever is stated in the listing agreement
d. The Seller
General Agent - Answer A property manager is an example of what type of agent...?
,a. Universal Agent
b. Specific Agent
c. General Agent
d. Special Agent
Principal - Answer The employer of an agent is known as the...?
a. Principal
b. All of the above
c. Customer
d. Escrow
Residential - Answer The market comparison approach is commonly used for this
property type...?
a. Mixed-use
b. Industrial
c. Residential
d. Commercial
Real Estate - Answer Land and everything permanently attached to land is defined as...?
a. Bundle of Rights
b. Real Property
c. Fixture
d. Real Estate
Personal Property - Answer A refrigerator is typically considered...?
a. Fixture
b. Real Property
, c. Personal Property
d. Emblements
Personal Property - Answer All property that is not land and is not permanently attached
to land is known as...?
a. Personal Property
b. Real Property
c. Real Estate
d. Fixture
Surface Rights - Answer Mineral rights are typically considered dominant to which of the
following rights...?
a. Sub-surface rights
b. None of the above
c. Air rights
d. Surface rights
All of the Above - Answer Which of the following is considered a legal test for
determining if an item is a fixture or not...?
a. Intention of the parties
b. Mode and permanence of how the item was attached
c. Adaptation of the item
d. All of the above
Bundle of Rights - Answer The right of exclusion, which allows a landowner to prevent
others from entering or occupying their property, is included in the...?
a. Riparian Rights
CORRECT ANSWERS LATEST GRADE A+
Special Agent - Answer A real estate agent is an example of what type of agent...?
a. Universal Agent
b. General Agent
c. Special Agent
d. Specific Agent
Market Comparison Approach - Answer A means of comparing similar type properties,
which have recently sold, to the subject property is known as the...?
a. Cost Approach
b. Assessment Approach
c. Income Approach
d. Market Comparison Approach
Listing Contract - Answer A contract in which a property owner employs a real estate
broker to market the property described in the contract is known as the...
a. Agency Disclosure Contract
b. Purchase and Sales Contract
c. Closing Contract
d. Listing Contract
Commercial Property - Answer Properties with five or more dwelling units are
considered...?
,a. Special Purpose Property
b. Commercial Property
c. Industrial Property
d. Residential Property
Supply - Answer The amount of goods offered for sale within a given market at a given
price during a given time period is known as...
a. Demand
b. GDP
c. Supply
d. None of the above
All of the Above - Answer The general uses of real property include which of the
following...?
a. Residential
b. Industrial
c. Commercial
d. All of the above
The Salesperson's Sponsoring Broker - Answer If a real estate salesperson closes on a
transaction, who pays the salesperson their commission...?
a. The Buyer
b. The salesperson's sponsoring broker
c. Whatever is stated in the listing agreement
d. The Seller
General Agent - Answer A property manager is an example of what type of agent...?
,a. Universal Agent
b. Specific Agent
c. General Agent
d. Special Agent
Principal - Answer The employer of an agent is known as the...?
a. Principal
b. All of the above
c. Customer
d. Escrow
Residential - Answer The market comparison approach is commonly used for this
property type...?
a. Mixed-use
b. Industrial
c. Residential
d. Commercial
Real Estate - Answer Land and everything permanently attached to land is defined as...?
a. Bundle of Rights
b. Real Property
c. Fixture
d. Real Estate
Personal Property - Answer A refrigerator is typically considered...?
a. Fixture
b. Real Property
, c. Personal Property
d. Emblements
Personal Property - Answer All property that is not land and is not permanently attached
to land is known as...?
a. Personal Property
b. Real Property
c. Real Estate
d. Fixture
Surface Rights - Answer Mineral rights are typically considered dominant to which of the
following rights...?
a. Sub-surface rights
b. None of the above
c. Air rights
d. Surface rights
All of the Above - Answer Which of the following is considered a legal test for
determining if an item is a fixture or not...?
a. Intention of the parties
b. Mode and permanence of how the item was attached
c. Adaptation of the item
d. All of the above
Bundle of Rights - Answer The right of exclusion, which allows a landowner to prevent
others from entering or occupying their property, is included in the...?
a. Riparian Rights
