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AYPO Real Estate Principles of Real Estate
II Exam Study Guide; Latest Exam Questions
With Answers
Which of the following combines and replaces the final Truth-in- Lending
disclosure and the HUD-1? - Correct-answer-The Closing Disclosure
In Texas, recording fees are paid to whom? - Correct-answer-The county clerk in
the county where the real property is located.
Participants in the primary mortgage market do NOT include - Correct-answer-
seller-owners
When an offer to purchace real estate in Texas is signed, a license holder shall
advise each buyer, in writing, that the buyer should do which of these - Correct-
answer-1. Purchase a title insurance policy
2. Obtain an abstract covering the real estate that is the subject of the
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The minimum general requirements for an instrument to qualify as a deed in
Texas include: - Correct-answer-Contain words of conveyance
Which of the following is an area of real estate broker's job that requires
mathematics? - Correct-answer-Mortgage loan evaluation
Commissions from Property Sales
Property Assessment
The rules for client trust accounts are ___ to those used for real estate brokers -
Correct-answer-Very similar, but not identical
What type of clause would the following be?
"Tenants shall not operate machinery which produces a noise in excess of 100
decibels between the hours of 9:00 pm and 9:00 am." - Correct-answer-Use
clause
After a property is sold at an auction and the former owner refuses to move, what
action might they be facing? - Correct-answer-If the former property owner does
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not move off the property after it is sold, they will be served with and eviction
notice from the sheriff's office.
A property owner borrows $490,000 at a 12% interest rate. How much interest
accumulates in the first year. (Interest rate = Interest / Principle) - Correct-
answer-$58,800
In what economic setting does the trading of investment products like REMICs
actually take place? - Correct-answer-Stock Market
Replacement Cost (the dollar amount it would cost to construct, at current prices,
a structure what might not be exactly the same) is used as an element of which of
the following types of appraisals? - Correct-answer-Cost Approach
If two or more unrelated parties recieve real property and the conveyance does
not address the character of the tenancy created, it is by law given as: - Correct-
answer-A tenancy in common
Leverage refers to the balance between: - Correct-answer-Monies owed against
borrowed funds and income received as a return on investment.
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Who is permitted to prepare legal documents in Texas - Correct-answer-
Attourney
The information in a certificate of title often has several sections to it, including all
of these, EXCEPT: - Correct-answer-Credit history of the buyer
Included in the cost of most title insurance are all of the following, EXCEPT -
Correct-answer-A closing disclosure statement
There are two kinds of points: - Correct-answer-Discount points and origination
points
If the sale, transfer, purchase, or acquisition agreement transfers or sells and
interest in land or in a mortgage other than lien vested according to the real
property records is the failed depository institution, which of the following is
accurate? - Correct-answer-A recorder affidavit or memorandum under this
section is constructive notice of the transfer or sale
AYPO Real Estate Principles of Real Estate
II Exam Study Guide; Latest Exam Questions
With Answers
Which of the following combines and replaces the final Truth-in- Lending
disclosure and the HUD-1? - Correct-answer-The Closing Disclosure
In Texas, recording fees are paid to whom? - Correct-answer-The county clerk in
the county where the real property is located.
Participants in the primary mortgage market do NOT include - Correct-answer-
seller-owners
When an offer to purchace real estate in Texas is signed, a license holder shall
advise each buyer, in writing, that the buyer should do which of these - Correct-
answer-1. Purchase a title insurance policy
2. Obtain an abstract covering the real estate that is the subject of the
,2|Page
The minimum general requirements for an instrument to qualify as a deed in
Texas include: - Correct-answer-Contain words of conveyance
Which of the following is an area of real estate broker's job that requires
mathematics? - Correct-answer-Mortgage loan evaluation
Commissions from Property Sales
Property Assessment
The rules for client trust accounts are ___ to those used for real estate brokers -
Correct-answer-Very similar, but not identical
What type of clause would the following be?
"Tenants shall not operate machinery which produces a noise in excess of 100
decibels between the hours of 9:00 pm and 9:00 am." - Correct-answer-Use
clause
After a property is sold at an auction and the former owner refuses to move, what
action might they be facing? - Correct-answer-If the former property owner does
,3|Page
not move off the property after it is sold, they will be served with and eviction
notice from the sheriff's office.
A property owner borrows $490,000 at a 12% interest rate. How much interest
accumulates in the first year. (Interest rate = Interest / Principle) - Correct-
answer-$58,800
In what economic setting does the trading of investment products like REMICs
actually take place? - Correct-answer-Stock Market
Replacement Cost (the dollar amount it would cost to construct, at current prices,
a structure what might not be exactly the same) is used as an element of which of
the following types of appraisals? - Correct-answer-Cost Approach
If two or more unrelated parties recieve real property and the conveyance does
not address the character of the tenancy created, it is by law given as: - Correct-
answer-A tenancy in common
Leverage refers to the balance between: - Correct-answer-Monies owed against
borrowed funds and income received as a return on investment.
, 4|Page
Who is permitted to prepare legal documents in Texas - Correct-answer-
Attourney
The information in a certificate of title often has several sections to it, including all
of these, EXCEPT: - Correct-answer-Credit history of the buyer
Included in the cost of most title insurance are all of the following, EXCEPT -
Correct-answer-A closing disclosure statement
There are two kinds of points: - Correct-answer-Discount points and origination
points
If the sale, transfer, purchase, or acquisition agreement transfers or sells and
interest in land or in a mortgage other than lien vested according to the real
property records is the failed depository institution, which of the following is
accurate? - Correct-answer-A recorder affidavit or memorandum under this
section is constructive notice of the transfer or sale
