AYPO PRINCIPLES OF REAL ESTATE 2
QUESTIONS AND CORRECT
ANSWERS
an applicant is allowed to use what electronic devices during the real estate exam?
ANSW✅✅hand-held calculator
a $288,000 loan(following $72,000 down) on a home purchased at $360,000 would be what loan to
value? ANSW✅✅80%
the term for an interest through a leasehold that continue for a definite period of time is which of
the following? ANSW✅✅an estate for years
a property owner took out a 20-year mortgage for $97,500 with a fixed 7.5% annual interest rate.
what does the property owner pay in mortgage payments every month? ANSW✅✅$785
Mold remediation for the state of Texas is managed by whom? ANSW✅✅texas department of
licensing and regulation(tdlr)
what is functional obsolescence? ANSW✅✅The loss of property value due to qualities of the
property that cannot be easily changed
what is the investment propertys market value, with debts subtracted? ANSW✅✅equity
the right of government to take ownership of privately helf real estate is called?
ANSW✅✅eminent domain
the sales contract form most frequently used in texas is the? ANSW✅✅trec promulgated one to
four family residential contract(resale)
what is the natural breakpoint on a commercial lease? ANSW✅✅when the percentage of sales(in
a percentage lease) equals the base rent
, Estates of indeterminable length, for example, those that exist for a lifetime or forever are:
ANSW✅✅freehold estates
a property owner borrows $490,000 at a 12% interest rate. how much interest accumulates in the
first year? ANSW✅✅$58,800
While they can happen at the same time, consummation is a legally distinct point in time where the
borrower: ANSW✅✅becomes contractually obligated to the lender(and not to the seller)
Certified General Appraiser is authorized to appraise: ANSW✅✅all types of real property
what is a federal program run by the u.s. department of the treasury which is intended to help
homeowners avoid foreclosure? ANSW✅✅the making home affordable program
the disclosure document that were required prior to 10.3.15 for closed-end credit transactions were
combined to create two new standardized documents commonly called which of these?
ANSW✅✅tila-respa integrated disclosures
in which type of payment plan does the borrower pay a lesser amount for the first years of the plan,
often scheduled at five years, and then higher monthly amount in the last portion of the loan?
ANSW✅✅flexible payment plan
which of the following replaced the initial truth-in-lending disclosure and the good faith estimate?
ANSW✅✅the loan estimate
objective value is not influenced by: ANSW✅✅personal feelings or opinions in considering and
representing facts.
7/8 converted to a decimal ANSW✅✅0.875
if two or more unrelated parties receive real property and the conveyance does not address the
character of the tenancy created, it is by law given as: ANSW✅✅a tenancy in common
QUESTIONS AND CORRECT
ANSWERS
an applicant is allowed to use what electronic devices during the real estate exam?
ANSW✅✅hand-held calculator
a $288,000 loan(following $72,000 down) on a home purchased at $360,000 would be what loan to
value? ANSW✅✅80%
the term for an interest through a leasehold that continue for a definite period of time is which of
the following? ANSW✅✅an estate for years
a property owner took out a 20-year mortgage for $97,500 with a fixed 7.5% annual interest rate.
what does the property owner pay in mortgage payments every month? ANSW✅✅$785
Mold remediation for the state of Texas is managed by whom? ANSW✅✅texas department of
licensing and regulation(tdlr)
what is functional obsolescence? ANSW✅✅The loss of property value due to qualities of the
property that cannot be easily changed
what is the investment propertys market value, with debts subtracted? ANSW✅✅equity
the right of government to take ownership of privately helf real estate is called?
ANSW✅✅eminent domain
the sales contract form most frequently used in texas is the? ANSW✅✅trec promulgated one to
four family residential contract(resale)
what is the natural breakpoint on a commercial lease? ANSW✅✅when the percentage of sales(in
a percentage lease) equals the base rent
, Estates of indeterminable length, for example, those that exist for a lifetime or forever are:
ANSW✅✅freehold estates
a property owner borrows $490,000 at a 12% interest rate. how much interest accumulates in the
first year? ANSW✅✅$58,800
While they can happen at the same time, consummation is a legally distinct point in time where the
borrower: ANSW✅✅becomes contractually obligated to the lender(and not to the seller)
Certified General Appraiser is authorized to appraise: ANSW✅✅all types of real property
what is a federal program run by the u.s. department of the treasury which is intended to help
homeowners avoid foreclosure? ANSW✅✅the making home affordable program
the disclosure document that were required prior to 10.3.15 for closed-end credit transactions were
combined to create two new standardized documents commonly called which of these?
ANSW✅✅tila-respa integrated disclosures
in which type of payment plan does the borrower pay a lesser amount for the first years of the plan,
often scheduled at five years, and then higher monthly amount in the last portion of the loan?
ANSW✅✅flexible payment plan
which of the following replaced the initial truth-in-lending disclosure and the good faith estimate?
ANSW✅✅the loan estimate
objective value is not influenced by: ANSW✅✅personal feelings or opinions in considering and
representing facts.
7/8 converted to a decimal ANSW✅✅0.875
if two or more unrelated parties receive real property and the conveyance does not address the
character of the tenancy created, it is by law given as: ANSW✅✅a tenancy in common
