TX REAL ESTATE STATE EXAM PRACTICE
LATEST 2025/2026 [A+] VERIFIED
QUESTIONS AND CORRECT ANSWERS
,TX REAL ESTATE STATE EXAM PRACTICE
INSURANCE COMPANIES NOT WILLING TO DEAL DIRECTLY WITH BORROWERS USUALLY PAY A LOAN
SERVICING AND PREPARATION FEE, AND MAKE REAL ESTATE MORTGAGE LOANS TO PURCHASE
INDIRECTLY THROUGH:
FHA OR THE VA MORTGAGE COMPANIES
SAVINGS AND LOAN ASSOCIATIONS
FREDDIE MAC ANS;MORTGAGE COMPANIES
FOR THE PAST 30 YEARS, THE STONE FAMILY HAS OPERATED A NEIGHBORHOOD GROCERY STORE.
LAST WEEK THE CITY COUNCIL PASSED A ZONING ORDINANCE THAT PROHIBITS PACKAGED FOOD SALES
IN THE AREA WHERE THE STONE'S GROCERY STORE IS LOCATED. THE
STORE IS NOW AN EXAMPLE OF
A/AN:
ILLEGAL ENTERPRISE NONCONFORMING USE VIOLATION OF EMINENT DOMAIN VARIANCE OF THE
ZONING LAWS -
ANS; -NON-CONFORMING USE
A MORTGAGE COMPANY MAKES A NUMBER OF LOANS TO BE ASSEMBLED INTO ONE PACKAGE AND
SOLD TO PERMANENT
INVESTORS. THIS PROCESS IS AN
EXAMPLE OF INTERIM FINANCING TO THE MORTGAGE COMPANY, AND IS CALLED:
BLANKET FINANCING WAREHOUSING DISCOUNTING
PACKAGE FINANCING ANS;WAREHOUSING
WAREHOUSING ANS;THE PROCESS WHEREBY BANKS AND
, OTHER LENDERS MAKE MORTGAGE
LOANS TO CONSUMERS FOR THE PURPOSE OF QUICKLY SELLING THOSE LOANS ON THE SECONDARY
MARKET.
THE ROSE FAMILY OWNS A HOME IN A SEMI-RURAL AREA WHICH IS ABOUT FIVE YEARS OLD. RECENTLY
ANNOUNCED PLANS FOR A NEW REGIONAL AIRPORT WILL PLACE THEIR HOME DIRECTLY IN LINE WITH A
MAIN RUNWAY THAT ENDS ONE MILE BEFORE THEIR HOME. IF THE
AIRPORT IS CONSTRUCTED, WILL THIS
DIMINISH THE VALUE OF THE ROSE HOME? ANS;YES, BECAUSE OF ECONOMIC OBSOLESCENCE
ECONOMIC OBSOLESE ANS;EXTERNAL- FACTORS UNRELATED TO THE PROPERTY ITSELF, AND OUTSIDE
OF THE OWNER'S CONTROL, DIMINISH ITS VALUE. A QUICK WAY TO JUDGE WHETHER OR NOT A
PROPERTY HAS BECOME ECONOMICALLY OBSOLETE IS TO ANALYZE WHETHER, UNDER
NEW CIRCUMSTANCES, THE
LOCATION WOULD STILL BE CHOSEN AS A HOME SITE AND, IF YES, AT WHAT VALUE COMPARED WITH
THE CURRENT PROPERTY.
THE RECORDING OF AN INSTRUMENT GIVES: ANS;CONSTRUCTIVE NOTICE
-ATTACHES ONCE A DOCUMENT IS RECORDED. ONCE RECORDED, SUBSEQUENT BUYERS WILL BE
DEEMED TO HAVE RECEIVED
"CONSTRUCTIVE NOTICE" REGARDING
THE DOCUMENT AND ITS EFFECT ON THE PROPERTY IN QUESTION. THIS COULD ALSO BE GIVEN BY
TAKING POSSESSION OF A PROPERTY
WHAT IS THE MOST COMMON METHOD OF MAKING SMALL CHANGES TO A REAL ESTATE CONTRACT?
ANS;MAKING CHANGES BY STRIKING, INSERTING AND INITIALING CHANGES IN PEN
4.
AN APPEAL IS HEARD BY THE
LATEST 2025/2026 [A+] VERIFIED
QUESTIONS AND CORRECT ANSWERS
,TX REAL ESTATE STATE EXAM PRACTICE
INSURANCE COMPANIES NOT WILLING TO DEAL DIRECTLY WITH BORROWERS USUALLY PAY A LOAN
SERVICING AND PREPARATION FEE, AND MAKE REAL ESTATE MORTGAGE LOANS TO PURCHASE
INDIRECTLY THROUGH:
FHA OR THE VA MORTGAGE COMPANIES
SAVINGS AND LOAN ASSOCIATIONS
FREDDIE MAC ANS;MORTGAGE COMPANIES
FOR THE PAST 30 YEARS, THE STONE FAMILY HAS OPERATED A NEIGHBORHOOD GROCERY STORE.
LAST WEEK THE CITY COUNCIL PASSED A ZONING ORDINANCE THAT PROHIBITS PACKAGED FOOD SALES
IN THE AREA WHERE THE STONE'S GROCERY STORE IS LOCATED. THE
STORE IS NOW AN EXAMPLE OF
A/AN:
ILLEGAL ENTERPRISE NONCONFORMING USE VIOLATION OF EMINENT DOMAIN VARIANCE OF THE
ZONING LAWS -
ANS; -NON-CONFORMING USE
A MORTGAGE COMPANY MAKES A NUMBER OF LOANS TO BE ASSEMBLED INTO ONE PACKAGE AND
SOLD TO PERMANENT
INVESTORS. THIS PROCESS IS AN
EXAMPLE OF INTERIM FINANCING TO THE MORTGAGE COMPANY, AND IS CALLED:
BLANKET FINANCING WAREHOUSING DISCOUNTING
PACKAGE FINANCING ANS;WAREHOUSING
WAREHOUSING ANS;THE PROCESS WHEREBY BANKS AND
, OTHER LENDERS MAKE MORTGAGE
LOANS TO CONSUMERS FOR THE PURPOSE OF QUICKLY SELLING THOSE LOANS ON THE SECONDARY
MARKET.
THE ROSE FAMILY OWNS A HOME IN A SEMI-RURAL AREA WHICH IS ABOUT FIVE YEARS OLD. RECENTLY
ANNOUNCED PLANS FOR A NEW REGIONAL AIRPORT WILL PLACE THEIR HOME DIRECTLY IN LINE WITH A
MAIN RUNWAY THAT ENDS ONE MILE BEFORE THEIR HOME. IF THE
AIRPORT IS CONSTRUCTED, WILL THIS
DIMINISH THE VALUE OF THE ROSE HOME? ANS;YES, BECAUSE OF ECONOMIC OBSOLESCENCE
ECONOMIC OBSOLESE ANS;EXTERNAL- FACTORS UNRELATED TO THE PROPERTY ITSELF, AND OUTSIDE
OF THE OWNER'S CONTROL, DIMINISH ITS VALUE. A QUICK WAY TO JUDGE WHETHER OR NOT A
PROPERTY HAS BECOME ECONOMICALLY OBSOLETE IS TO ANALYZE WHETHER, UNDER
NEW CIRCUMSTANCES, THE
LOCATION WOULD STILL BE CHOSEN AS A HOME SITE AND, IF YES, AT WHAT VALUE COMPARED WITH
THE CURRENT PROPERTY.
THE RECORDING OF AN INSTRUMENT GIVES: ANS;CONSTRUCTIVE NOTICE
-ATTACHES ONCE A DOCUMENT IS RECORDED. ONCE RECORDED, SUBSEQUENT BUYERS WILL BE
DEEMED TO HAVE RECEIVED
"CONSTRUCTIVE NOTICE" REGARDING
THE DOCUMENT AND ITS EFFECT ON THE PROPERTY IN QUESTION. THIS COULD ALSO BE GIVEN BY
TAKING POSSESSION OF A PROPERTY
WHAT IS THE MOST COMMON METHOD OF MAKING SMALL CHANGES TO A REAL ESTATE CONTRACT?
ANS;MAKING CHANGES BY STRIKING, INSERTING AND INITIALING CHANGES IN PEN
4.
AN APPEAL IS HEARD BY THE
