2025 update |AYPO Real Estate Principles of Real Estate I | latest
|COMPREHENSIVE MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS | GET
IT 100% ACCURATE!!
Sally Mae is a real estate licensee who would like to become a realtor, what must
she do? - ANSWER-Become a member of the NAR
What agency enforces fair housing laws? - ANSWER-FHEO. The Fair Housing and
Equal Opportunity administers and enforces fair housing laws.
Which type of anti-trust violation involves two or more businesses conspiring
against another? - ANSWER-Group boycotting
This type of housing is not considered real property: - ANSWER-Cooperative
When a fair housing complaint is received, how long does TWCCRD have to begin
investigating and attempt to resolve the issue? - ANSWER-100 days. Once the
complaint is received the TWCCRD has 100 days.
What does it mean when the buyer signs and dates the sellers disclosure notice? -
ANSWER-The buyer is acknowledging receipt of the disclosure.
,When a business is organized as a partnership, - ANSWER-General partners are
jointly and severally responsible for all business debts.
The payment of commission to a non-licensed individual for brokerage services is:
- ANSWER-Illegally only if the person is not exempt from licensing law. Individuals
who are exempt from licensing law (Such as attorneys) may receive commissions
for providing brokerage services.
What type of a lien is a specific lien? - ANSWER-Real property tax lien
In terms of encumbrances, what is a license? - ANSWER-Permission without
possession, interest or ownership.
Property ownership for an indeterminable length of time is an example of what
form of estate? - ANSWER-Freehold Estate
What is someone who evaluates the structures, systems and site conditions of
homes for potential buyers? - ANSWER-Home inspector
Under TRELA, it is considered a misdemeanor for an individual who does not have
a real estate license to perform activities that require a real estate license. Each
violation is punishable with a fine of up to a maximum of: - ANSWER-$5000.00
,Which of the following is a single-family home with attached walls where the
owner typically own the land on which the home sits? - ANSWER-A townhome
A sales agent or broker associate may perform duties as a real estate licensee
under what circumstance? - ANSWER-While associated with and supervised by a
broker.
What is the name of the part of the beach that is privately owned? - ANSWER-Dry
beach.
Real estate law covers general property law, real estate license law, the law of
contracts, landlord/tenant law, consumer protection, and: - ANSWER-The law of
agency
Which entity is charged with administering the laws of TRELA? - ANSWER-The
Texas Real Estate Commission
What is the most common homeowners policy? - ANSWER-The HO-B Policy
Which of the following is a right included with real property? - ANSWER-Exclusion
Which keyword can be used to describe real property? - ANSWER-Built-in. Built-in
would describe real property that is permanently affixed to the property.
, Once signed, the listing agreement is a legally binding contract between: -
ANSWER-The listing broker and the seller.
What is considered a passing grade for the state licensing exam for a real estate
professional who is seeking a brokers license? - ANSWER-A 75% or greater.
Land, plus all things permanently attached to it naturally or artificially is: -
ANSWER-Real estate
The exemption to the Fair Housing Act that would normally apply that is moot when
a real estate agent represents : - ANSWER-Owner occupied buildings with no more
than four units.
Your client is looking to buy her first home, she decides to make an offer on a
bungalo that belongs to another agents client. Your clients offer must be? -
ANSWER-In Writing
James creates a trust to hold a piece of real estate he owns, he directs a
corporate fiduciary to hold title to the real estate and provides instructions for
the management, control, and disposition of the real estate upon his death. Given
that the trust only holds real estate, James likely set up a: - ANSWER-
Testamentary
|COMPREHENSIVE MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS | GET
IT 100% ACCURATE!!
Sally Mae is a real estate licensee who would like to become a realtor, what must
she do? - ANSWER-Become a member of the NAR
What agency enforces fair housing laws? - ANSWER-FHEO. The Fair Housing and
Equal Opportunity administers and enforces fair housing laws.
Which type of anti-trust violation involves two or more businesses conspiring
against another? - ANSWER-Group boycotting
This type of housing is not considered real property: - ANSWER-Cooperative
When a fair housing complaint is received, how long does TWCCRD have to begin
investigating and attempt to resolve the issue? - ANSWER-100 days. Once the
complaint is received the TWCCRD has 100 days.
What does it mean when the buyer signs and dates the sellers disclosure notice? -
ANSWER-The buyer is acknowledging receipt of the disclosure.
,When a business is organized as a partnership, - ANSWER-General partners are
jointly and severally responsible for all business debts.
The payment of commission to a non-licensed individual for brokerage services is:
- ANSWER-Illegally only if the person is not exempt from licensing law. Individuals
who are exempt from licensing law (Such as attorneys) may receive commissions
for providing brokerage services.
What type of a lien is a specific lien? - ANSWER-Real property tax lien
In terms of encumbrances, what is a license? - ANSWER-Permission without
possession, interest or ownership.
Property ownership for an indeterminable length of time is an example of what
form of estate? - ANSWER-Freehold Estate
What is someone who evaluates the structures, systems and site conditions of
homes for potential buyers? - ANSWER-Home inspector
Under TRELA, it is considered a misdemeanor for an individual who does not have
a real estate license to perform activities that require a real estate license. Each
violation is punishable with a fine of up to a maximum of: - ANSWER-$5000.00
,Which of the following is a single-family home with attached walls where the
owner typically own the land on which the home sits? - ANSWER-A townhome
A sales agent or broker associate may perform duties as a real estate licensee
under what circumstance? - ANSWER-While associated with and supervised by a
broker.
What is the name of the part of the beach that is privately owned? - ANSWER-Dry
beach.
Real estate law covers general property law, real estate license law, the law of
contracts, landlord/tenant law, consumer protection, and: - ANSWER-The law of
agency
Which entity is charged with administering the laws of TRELA? - ANSWER-The
Texas Real Estate Commission
What is the most common homeowners policy? - ANSWER-The HO-B Policy
Which of the following is a right included with real property? - ANSWER-Exclusion
Which keyword can be used to describe real property? - ANSWER-Built-in. Built-in
would describe real property that is permanently affixed to the property.
, Once signed, the listing agreement is a legally binding contract between: -
ANSWER-The listing broker and the seller.
What is considered a passing grade for the state licensing exam for a real estate
professional who is seeking a brokers license? - ANSWER-A 75% or greater.
Land, plus all things permanently attached to it naturally or artificially is: -
ANSWER-Real estate
The exemption to the Fair Housing Act that would normally apply that is moot when
a real estate agent represents : - ANSWER-Owner occupied buildings with no more
than four units.
Your client is looking to buy her first home, she decides to make an offer on a
bungalo that belongs to another agents client. Your clients offer must be? -
ANSWER-In Writing
James creates a trust to hold a piece of real estate he owns, he directs a
corporate fiduciary to hold title to the real estate and provides instructions for
the management, control, and disposition of the real estate upon his death. Given
that the trust only holds real estate, James likely set up a: - ANSWER-
Testamentary
