REAL ESTATE STATE & NATIONAL
EXAM (TEXAS) KEY WORDS - ALL 6
UNITES
2025 ACTUAL EXAM COMPLETE 700+
QUESTIONS AND DETAILED ANSWERS
(VERIFIED ANSWERS ALREADY
GRADED A+ )
|| BRAND NEW !!!!!
…………………………………………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………………………………………
Regulation Z - = ANSWER =- >> the part of the Truth in Lending Act (TILA) that seeks to protect
consumers by requiring
proper disclosures and fair lending practices
real estate mortgage investment conduit (REMIC) - = ANSWER =- >> an investment vehicle that holds
commercial and residential mortgages in trust,
assembles said mortgages into pools based on risk, and then issues bonds (securities)
on these pools to sell to investors on the secondary mortgage market
subordination agreement - = ANSWER =- >> a legal document used to sort out situations when there are
two mortgages on a home,
and the homeowner wants to refinance the first mortgage
discount points - = ANSWER =- >> fees that the lender charges to lower the lending rate; one point is 1%
of the
loan amount
,verification of employment form - = ANSWER =- >> a form that requests the length of the applicant's
employment, gross salary, additional income, and the likelihood of continued employment
D.U.S.T. - = ANSWER =- >> an acronym for the characteristics of value (demand, utility, scarcity,
transferability)
adaptation - = ANSWER =- >> the use and modification of a particular item for a specific use in a
property
emblements - = ANSWER =- >> plants or crops intended for harvest and treated as personal property
living trust - = ANSWER =- >> a trust established by a living trustor in order to convey legal title of
property to a trustee
for the benefit of a named beneficiary
S corp - = ANSWER =- >> a corporation (that can only be formed with less than 100 shareholders) that is
similarly
taxed like a partnership to avoid double taxation
Fair Housing Act - = ANSWER =- >> a federal law that prohibits discrimination in housing based upon
race, color, religion, or
national origin and was amended to include sex, disability, and familial status
ownership interest - = ANSWER =- >> an undisputed right of an owner to their property
deed restriction - = ANSWER =- >> a provision in a deed that restricts the land use of a property
actual damages - = ANSWER =- >> monetary compensation given to an injured party for losses that were
a result of the
actions or omissions of another party
,eviction - = ANSWER =- >> the process by which a tenant is expelled from a property
conditional acceptance - = ANSWER =- >> acceptance based upon a specific condition or event
happening
defect - = ANSWER =- >> an item that was installed or is attached to the home and has an imperfection
Americans with Disabilities Act - = ANSWER =- >> identified and defined protected disabilities, as well as
required all new buildings
with employees or public access to provide reasonable access for people with
protected disabilities
Housing for Older Persons Act - = ANSWER =- >> established that a planned living community could
require a minimum age for
new residents
negotiable instrument - = ANSWER =- >> an unconditional written promise to pay a specified sum of
money upon demand of the holder
seller financing - = ANSWER =- >> a loan provided by the seller to the purchaser of the property
supply and demand - = ANSWER =- >> the existing inventory of a commodity, product, or service
available and the desire of consumers for it; factors that combine to influence price
dedication - = ANSWER =- >> the voluntary gift of one's land to the public
default - = ANSWER =- >> failure to fulfill an obligation by duty, contract, or law
effective date - = ANSWER =- >> the date a contract becomes binding between the parties
, legally competent - = ANSWER =- >> when a party can legally sign a binding contract; they have the age
of majority and have not been declared mentally incompetent by a judge
counteroffer - = ANSWER =- >> a contract proposal submitted in response to a previous offer, modifying
the terms of the
original offer; considered a rejection of the original offer
endorsement - = ANSWER =- >> additional coverage that can be added onto an insurance policy
Residential Real Property Affidavit (T-47) - = ANSWER =- >> a way for the seller to assure the buyer that
they haven't changed the boundaries of
the property
apartment locator - = ANSWER =- >> a real estate license holder who locates dwelling units for
prospective tenants
sales agent apprentice education (SAE) - = ANSWER =- >> an educational requirement that must be
completed in the first two years of being
licensed as a real estate agent
fixity - = ANSWER =- >> the economic principle that says that real estate exists in a fixed location and
cannot
be moved
land - = ANSWER =- >> the surface of the earth, including all permanently attached natural features,
extending downwards to the center of the earth and upwards to infinity
personal property - = ANSWER =- >> any unattached, movable asset on the property not considered real
estate (land plus improvements); aka chattel or personalty
real estate - = ANSWER =- >> land plus improvements
EXAM (TEXAS) KEY WORDS - ALL 6
UNITES
2025 ACTUAL EXAM COMPLETE 700+
QUESTIONS AND DETAILED ANSWERS
(VERIFIED ANSWERS ALREADY
GRADED A+ )
|| BRAND NEW !!!!!
…………………………………………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………………………………………
Regulation Z - = ANSWER =- >> the part of the Truth in Lending Act (TILA) that seeks to protect
consumers by requiring
proper disclosures and fair lending practices
real estate mortgage investment conduit (REMIC) - = ANSWER =- >> an investment vehicle that holds
commercial and residential mortgages in trust,
assembles said mortgages into pools based on risk, and then issues bonds (securities)
on these pools to sell to investors on the secondary mortgage market
subordination agreement - = ANSWER =- >> a legal document used to sort out situations when there are
two mortgages on a home,
and the homeowner wants to refinance the first mortgage
discount points - = ANSWER =- >> fees that the lender charges to lower the lending rate; one point is 1%
of the
loan amount
,verification of employment form - = ANSWER =- >> a form that requests the length of the applicant's
employment, gross salary, additional income, and the likelihood of continued employment
D.U.S.T. - = ANSWER =- >> an acronym for the characteristics of value (demand, utility, scarcity,
transferability)
adaptation - = ANSWER =- >> the use and modification of a particular item for a specific use in a
property
emblements - = ANSWER =- >> plants or crops intended for harvest and treated as personal property
living trust - = ANSWER =- >> a trust established by a living trustor in order to convey legal title of
property to a trustee
for the benefit of a named beneficiary
S corp - = ANSWER =- >> a corporation (that can only be formed with less than 100 shareholders) that is
similarly
taxed like a partnership to avoid double taxation
Fair Housing Act - = ANSWER =- >> a federal law that prohibits discrimination in housing based upon
race, color, religion, or
national origin and was amended to include sex, disability, and familial status
ownership interest - = ANSWER =- >> an undisputed right of an owner to their property
deed restriction - = ANSWER =- >> a provision in a deed that restricts the land use of a property
actual damages - = ANSWER =- >> monetary compensation given to an injured party for losses that were
a result of the
actions or omissions of another party
,eviction - = ANSWER =- >> the process by which a tenant is expelled from a property
conditional acceptance - = ANSWER =- >> acceptance based upon a specific condition or event
happening
defect - = ANSWER =- >> an item that was installed or is attached to the home and has an imperfection
Americans with Disabilities Act - = ANSWER =- >> identified and defined protected disabilities, as well as
required all new buildings
with employees or public access to provide reasonable access for people with
protected disabilities
Housing for Older Persons Act - = ANSWER =- >> established that a planned living community could
require a minimum age for
new residents
negotiable instrument - = ANSWER =- >> an unconditional written promise to pay a specified sum of
money upon demand of the holder
seller financing - = ANSWER =- >> a loan provided by the seller to the purchaser of the property
supply and demand - = ANSWER =- >> the existing inventory of a commodity, product, or service
available and the desire of consumers for it; factors that combine to influence price
dedication - = ANSWER =- >> the voluntary gift of one's land to the public
default - = ANSWER =- >> failure to fulfill an obligation by duty, contract, or law
effective date - = ANSWER =- >> the date a contract becomes binding between the parties
, legally competent - = ANSWER =- >> when a party can legally sign a binding contract; they have the age
of majority and have not been declared mentally incompetent by a judge
counteroffer - = ANSWER =- >> a contract proposal submitted in response to a previous offer, modifying
the terms of the
original offer; considered a rejection of the original offer
endorsement - = ANSWER =- >> additional coverage that can be added onto an insurance policy
Residential Real Property Affidavit (T-47) - = ANSWER =- >> a way for the seller to assure the buyer that
they haven't changed the boundaries of
the property
apartment locator - = ANSWER =- >> a real estate license holder who locates dwelling units for
prospective tenants
sales agent apprentice education (SAE) - = ANSWER =- >> an educational requirement that must be
completed in the first two years of being
licensed as a real estate agent
fixity - = ANSWER =- >> the economic principle that says that real estate exists in a fixed location and
cannot
be moved
land - = ANSWER =- >> the surface of the earth, including all permanently attached natural features,
extending downwards to the center of the earth and upwards to infinity
personal property - = ANSWER =- >> any unattached, movable asset on the property not considered real
estate (land plus improvements); aka chattel or personalty
real estate - = ANSWER =- >> land plus improvements
