AYPO Real Estate Principles
AYPO Real Estate Principles Of Real Estate Exam I
Questions & Answers New Edition
1. TREC has the authority under TRELA to suspend or even revoke a broker's license if: - ANSWER ✔ -
They conduct the unlawful practice of law
2. ESAC stands for: - ANSWER ✔ - Education Standards Advisory Committee
3. What refers to a location from an economic rather than a geographic standpoint? - ANSWER ✔ -
Situs.
4. Which amendment guarantees that a citizen will not be deprived of property without due process of
law? - ANSWER ✔ - 5th Amendment.
5. The CFPB is the: - ANSWER ✔ - Consumer Financial Protection Bureau
6. A professional organization or association is usually a not-for-profit organization that seeks to: -
ANSWER ✔ - further a particular profession and the interests of individuals engaged in that
profession.
7. A contraction or generally slowing down of the economy is a: - ANSWER ✔ - Recession.
8. What is the primary purpose for real estate licensing laws? - ANSWER ✔ - 1. To protect the general
public during real estate transactions from dishonest or incompetent brokers and sales agents.
2. To set out minimum standards and qualifications for licensing brokers and sales agents.
3. To protect licensed brokers and sales agents from unfair or improper competition.
1
AYPO Real Estate Principles
, AYPO Real Estate Principles
9. Per 1101.2051(b), information or material prepared or compiled by the commission in connection
with a complaint, investigation, or audit may be disclosed: - ANSWER ✔ - to the respondent of the
complaint.
10. What type of property category includes churches, other places of worship, schools and colleges,
cemeteries and certain government-held properties? - ANSWER ✔ - Special-purpose.
11. Emblements are best described by which of the following? - ANSWER ✔ - Harvestable plants, trees,
and uncultivated vegetation.
12. A manufactured home can be considered real property if: - ANSWER ✔ - 1. both the Texas
Department of Housing and Community Affairs and the home's county's chief tax appraiser have
been notified of the filing
2. a certified copy of the "Statement of ownership and location" for the home has been filed by
the owner in the real property records of the county where the home is located
3. the owner of the home has elected to treat the home as their real property
13. The number one reason that people move is: - ANSWER ✔ - Employment opportunity
14. How much money can a first time homebuyer draw from his or her own IRA without tax penalty for
the purchase? - ANSWER ✔ - $10,000
15. According to the Texas Department of Insurance, most homeowners policies in Texas include which
of the following coverages? - ANSWER ✔ - 1. Loss of use.
2. Medical payments.
3. Dwelling.
16. A C.L.U.E. report advises a consumer on: - ANSWER ✔ - up to seven years of claims history on a
property
2
AYPO Real Estate Principles
AYPO Real Estate Principles Of Real Estate Exam I
Questions & Answers New Edition
1. TREC has the authority under TRELA to suspend or even revoke a broker's license if: - ANSWER ✔ -
They conduct the unlawful practice of law
2. ESAC stands for: - ANSWER ✔ - Education Standards Advisory Committee
3. What refers to a location from an economic rather than a geographic standpoint? - ANSWER ✔ -
Situs.
4. Which amendment guarantees that a citizen will not be deprived of property without due process of
law? - ANSWER ✔ - 5th Amendment.
5. The CFPB is the: - ANSWER ✔ - Consumer Financial Protection Bureau
6. A professional organization or association is usually a not-for-profit organization that seeks to: -
ANSWER ✔ - further a particular profession and the interests of individuals engaged in that
profession.
7. A contraction or generally slowing down of the economy is a: - ANSWER ✔ - Recession.
8. What is the primary purpose for real estate licensing laws? - ANSWER ✔ - 1. To protect the general
public during real estate transactions from dishonest or incompetent brokers and sales agents.
2. To set out minimum standards and qualifications for licensing brokers and sales agents.
3. To protect licensed brokers and sales agents from unfair or improper competition.
1
AYPO Real Estate Principles
, AYPO Real Estate Principles
9. Per 1101.2051(b), information or material prepared or compiled by the commission in connection
with a complaint, investigation, or audit may be disclosed: - ANSWER ✔ - to the respondent of the
complaint.
10. What type of property category includes churches, other places of worship, schools and colleges,
cemeteries and certain government-held properties? - ANSWER ✔ - Special-purpose.
11. Emblements are best described by which of the following? - ANSWER ✔ - Harvestable plants, trees,
and uncultivated vegetation.
12. A manufactured home can be considered real property if: - ANSWER ✔ - 1. both the Texas
Department of Housing and Community Affairs and the home's county's chief tax appraiser have
been notified of the filing
2. a certified copy of the "Statement of ownership and location" for the home has been filed by
the owner in the real property records of the county where the home is located
3. the owner of the home has elected to treat the home as their real property
13. The number one reason that people move is: - ANSWER ✔ - Employment opportunity
14. How much money can a first time homebuyer draw from his or her own IRA without tax penalty for
the purchase? - ANSWER ✔ - $10,000
15. According to the Texas Department of Insurance, most homeowners policies in Texas include which
of the following coverages? - ANSWER ✔ - 1. Loss of use.
2. Medical payments.
3. Dwelling.
16. A C.L.U.E. report advises a consumer on: - ANSWER ✔ - up to seven years of claims history on a
property
2
AYPO Real Estate Principles
