AYPO REAL ESTATE PRINCIPLES 1
QUESTIONS AND VERIFIED ANSWERS
Which of the following are common law fiduciary duties? ANSW✅✅Care
Disclosure
Loyalty
Accounting
Obedience
What is the remedy called when one party has good faith effort to perform their obligations but the
other party HAS NOT performed their obligations? ANSW✅✅Specific
Performance
Other word for Modifications ANSW✅✅Improvements
Easments that benefits the owner ANSW✅✅An Easement Appurtenant
When the relationship of a Sales Agent with the sales aget broker terminates ANSW✅✅Notify the
sponsoring broker, and commission in writing as well as any clients in any active transactions
A tenancy by the entirety between legally married spouses differs from joint tenancy because of
which of these ANSW✅✅A spouse cannot dispose of their interest without consent of the other
spouse
Most Common Listing Agreement ANSW✅✅Exclusive right to sell
Commissions trust to reimburse damages from which parties? ANSW✅✅-A license holder
-A person who does not hold a license or certificate and who is an employee or agent of a license or
certificate holder
- A certificate holder
, Purpose of licensing laws ANSW✅✅-Protect brokers and sales agents
- Set out minimum standards and qualifications
-To protect the general public during real estate transactions from dishonest or incompetent brokers
When does a broker need to report a change of address ANSW✅✅Not later than the 10th day
after the date the broker moves from the address designated on the brokers license
Joint tenancy is ended when which of the following unities is ended? ANSW✅✅Unity of Time
A contraction or Generally Slowing down of the economy is called ? ANSW✅✅Recession
Common encumbrances ANSW✅✅-Easement (use)
-Lien (title)
-Restrictive covenants (title and/or use)
Broker Lawyer Committee Consists of 13 members ANSW✅✅Six Members appointed by the
commission
Six memebers of the state bar of Texas appointed by the president of the state bar
one appointed by the governor
A subpoena may be issued throughout the state and may be served by: ANSW✅✅Any person
designated by the commission
Metes and bounds. measurements ANSW✅✅Call
Courses
Monuments
The IABS form is required to be given to: ANSW✅✅Tenants/prospective tenants
QUESTIONS AND VERIFIED ANSWERS
Which of the following are common law fiduciary duties? ANSW✅✅Care
Disclosure
Loyalty
Accounting
Obedience
What is the remedy called when one party has good faith effort to perform their obligations but the
other party HAS NOT performed their obligations? ANSW✅✅Specific
Performance
Other word for Modifications ANSW✅✅Improvements
Easments that benefits the owner ANSW✅✅An Easement Appurtenant
When the relationship of a Sales Agent with the sales aget broker terminates ANSW✅✅Notify the
sponsoring broker, and commission in writing as well as any clients in any active transactions
A tenancy by the entirety between legally married spouses differs from joint tenancy because of
which of these ANSW✅✅A spouse cannot dispose of their interest without consent of the other
spouse
Most Common Listing Agreement ANSW✅✅Exclusive right to sell
Commissions trust to reimburse damages from which parties? ANSW✅✅-A license holder
-A person who does not hold a license or certificate and who is an employee or agent of a license or
certificate holder
- A certificate holder
, Purpose of licensing laws ANSW✅✅-Protect brokers and sales agents
- Set out minimum standards and qualifications
-To protect the general public during real estate transactions from dishonest or incompetent brokers
When does a broker need to report a change of address ANSW✅✅Not later than the 10th day
after the date the broker moves from the address designated on the brokers license
Joint tenancy is ended when which of the following unities is ended? ANSW✅✅Unity of Time
A contraction or Generally Slowing down of the economy is called ? ANSW✅✅Recession
Common encumbrances ANSW✅✅-Easement (use)
-Lien (title)
-Restrictive covenants (title and/or use)
Broker Lawyer Committee Consists of 13 members ANSW✅✅Six Members appointed by the
commission
Six memebers of the state bar of Texas appointed by the president of the state bar
one appointed by the governor
A subpoena may be issued throughout the state and may be served by: ANSW✅✅Any person
designated by the commission
Metes and bounds. measurements ANSW✅✅Call
Courses
Monuments
The IABS form is required to be given to: ANSW✅✅Tenants/prospective tenants
