AYPO - Texas - Principles of Real Estate 1 Exam |
178 Questions and Answers
D) Texas Real Estate Commission (TREC) - -What is the name of the governing body for
real estate in Texas?
A. Texas Real Estate Constitution (TREC)
B. Texas Real Estate Counselors (TREC)
C. Texas Real Estate Council (TREC)
D. Texas Real Estate Commission (TREC)
-D) they conduct the unlawful practice of Law - -TREC has the authority under TRELA to
suspend or even revoke a broker's license if:
A) they conduct the unauthorized practice of negotiation.
B) they conduct the unlicensed practice of property management.
C) they conduct the unlicensed practice of property development.
D) they conduct the unlawful practice of Law.
-B) Education Standards Advisory Committee - -ESAC stands for:
A) Education Systems Assistance Corporation
B) Education Standards Advisory Committee
C) Employment Standards Advisory Committee
D) Employment Standards Advisory Committee
-A) Situs - -What refers to a location from an economic rather than a geographic
standpoint?
A) Situs
B) Homogeneity
C) Immobility
D) Topography
-C) 5th Amendment. - -Which amendment guarantees that a citizen will not be deprived of
property without due process of law?
A) 14th Amendment
B) 2nd Amendment.
C) 5th Amendment.
D) No amendment covers this eventuality.
-A) Consumer Financial Protection Bureau - -The CFPB is the:
A) Consumer Financial Protection Bureau
B) Customer Financial Protection Bureau
C) Consumer Fiscal Protection Bureau
D) Client Financial Protection Bureau
,-B) further a particular profession and the interests of individuals engaged in that
profession. - -A professional organization or association is usually a not-for-profit
organization that seeks to:
A) find new revenue sources to grow the organization.
B) further a particular profession and the interests of individuals engaged in that
profession.
C) allow like-minded individuals to exclusively meet to discuss business issues with each
other.
D) hold educational seminars for the public to make them aware of the organization.
-D) Future estimated value - -Which of these IS NOT a type of real property value?
A) Assessed value
B) Estimated sales value
C) Replacement value
D) Future estimated value
-A) Recession. - -A contraction or generally slowing down of the economy is a:
A) Recession.
B) Expansion.
C) Depression.
D) Revival.
-D) All of these answers are correct. - -What is the primary purpose for real estate
licensing laws?
A) To protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
B) To set out minimum standards and qualifications for licensing brokers and sales agents.
C) To protect licensed brokers and sales agents from unfair or improper competition.
D) All of these answers are correct.
-B) to the respondent of the complaint. - -Per 1101.2051(b), information or material
prepared or compiled by the commission in connection with a complaint, investigation, or
audit may be disclosed:
A) it may not be disclosed under any circumstances.
B) to the respondent of the complaint.
C) to a legal representative of the complainant.
D) to a citizen writing in a complaint against a licensee.
-C) on the Internet. - -According to Sec. 1101.159, the commission must ensure that the
public is able to interact with the commission:
A) in the Texas Legislature.
B) in TREC meetings.
C) on the Internet.
D) in person.
-C) Fixity - -Investment permanence is another term for:
,A) Scarcity
B) Situs
C) Fixity
D) Modification
-D) All of these - -The Real Estate License Act defines a broker as a person who does which
of these?
A) Negotiates or attempts to negotiate the listing, sale, exchange, purchase, or lease of real
estate
B) lists or offers, attempts, or agrees to list real estate for sale, lease, or exchange
C) procures or assists in procuring a prospect to effect the sale, exchange, or lease of real
estate
D) All of these
-C) Amusement Park Management - -A short list of types of specialized brokerages in
Texas, includes all of these, except:
A) Rental Properties
B) Property Management
C) Amusement Park Management
D) Farm and Ranch Properties
-A) Forestry Maintenance - -Which of these is NOT a type of real property?
A) Forestry Maintenance
B) Agricultural
C) Mixed Use Property
D) Commercial
-B) All of these. - -Real property, often referred to as real estate, includes which of the
following?
A) Land.
B) All of these.
C) Natural resources like water, minerals, and crops.
D) Structures attached directly to the land.
-A) harvestable plants, trees, and cultivated vegetation. - -"Emblements" are best
described by which of the following?
A) harvestable plants, trees, and cultivated vegetation.
B) impediments to the free and clear ownership and use of property.
C) the unauthorized intrusion of vegetation onto another person's land.
D) fixtures.
-B) All of the answers together are correct. - -A manufactured home can be considered real
property if:
A) both the Texas Department of Housing and Community Affairs and the home's county's
chief tax appraiser have been notified of the filing
B) All of the answers together are correct.
, C) the owner of the home has elected to treat the home as their real property
D) 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
-C) Investment. - -Which of these is not a classification of real property?
A) Commercial.
B) Residential.
C) Investment.
D) Agricultural.
-C) Cost of the object - -Which of these IS NOT a factor to consider in determining if an
object is a fixture?
A) Manner of Attachment
B) Intention of the installer
C) Cost of the object
D) Adaptation of the object
-D) Permanency of the method of attachment - -The ____________ is a factor in determining if
something is a fixture
1) Age and Condition
B) Original cost and remaining balance
C) Previous ownership
D) Permanency of the method of attachment
-A) The owner of the home has elected to treat the home as their real property - -Which of
the following is a major key to a manufactured home in Texas being considered real
property?
A) The owner of the home has elected to treat the home as their real property
B) The owner also owns the land beneath it, regardless of the owner's intent
C) The home was placed there prior to 1982
D) The home has been in the same place for more than two years
-A) All of these are elements of location - -Which of these is an element of location?
A) All of these are elements of location
B) Cultural opportunities
C) Employment opportunities
D) Transportation
-D) Employment opportunity - -The number one reason that people move is:
A) Social Services
B) Education
C) Transportation
D) Employment opportunity
-A) $10,000 - -How much money can a first time homebuyer draw from his or her own IRA
without tax penalty for the purchase?
178 Questions and Answers
D) Texas Real Estate Commission (TREC) - -What is the name of the governing body for
real estate in Texas?
A. Texas Real Estate Constitution (TREC)
B. Texas Real Estate Counselors (TREC)
C. Texas Real Estate Council (TREC)
D. Texas Real Estate Commission (TREC)
-D) they conduct the unlawful practice of Law - -TREC has the authority under TRELA to
suspend or even revoke a broker's license if:
A) they conduct the unauthorized practice of negotiation.
B) they conduct the unlicensed practice of property management.
C) they conduct the unlicensed practice of property development.
D) they conduct the unlawful practice of Law.
-B) Education Standards Advisory Committee - -ESAC stands for:
A) Education Systems Assistance Corporation
B) Education Standards Advisory Committee
C) Employment Standards Advisory Committee
D) Employment Standards Advisory Committee
-A) Situs - -What refers to a location from an economic rather than a geographic
standpoint?
A) Situs
B) Homogeneity
C) Immobility
D) Topography
-C) 5th Amendment. - -Which amendment guarantees that a citizen will not be deprived of
property without due process of law?
A) 14th Amendment
B) 2nd Amendment.
C) 5th Amendment.
D) No amendment covers this eventuality.
-A) Consumer Financial Protection Bureau - -The CFPB is the:
A) Consumer Financial Protection Bureau
B) Customer Financial Protection Bureau
C) Consumer Fiscal Protection Bureau
D) Client Financial Protection Bureau
,-B) further a particular profession and the interests of individuals engaged in that
profession. - -A professional organization or association is usually a not-for-profit
organization that seeks to:
A) find new revenue sources to grow the organization.
B) further a particular profession and the interests of individuals engaged in that
profession.
C) allow like-minded individuals to exclusively meet to discuss business issues with each
other.
D) hold educational seminars for the public to make them aware of the organization.
-D) Future estimated value - -Which of these IS NOT a type of real property value?
A) Assessed value
B) Estimated sales value
C) Replacement value
D) Future estimated value
-A) Recession. - -A contraction or generally slowing down of the economy is a:
A) Recession.
B) Expansion.
C) Depression.
D) Revival.
-D) All of these answers are correct. - -What is the primary purpose for real estate
licensing laws?
A) To protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
B) To set out minimum standards and qualifications for licensing brokers and sales agents.
C) To protect licensed brokers and sales agents from unfair or improper competition.
D) All of these answers are correct.
-B) to the respondent of the complaint. - -Per 1101.2051(b), information or material
prepared or compiled by the commission in connection with a complaint, investigation, or
audit may be disclosed:
A) it may not be disclosed under any circumstances.
B) to the respondent of the complaint.
C) to a legal representative of the complainant.
D) to a citizen writing in a complaint against a licensee.
-C) on the Internet. - -According to Sec. 1101.159, the commission must ensure that the
public is able to interact with the commission:
A) in the Texas Legislature.
B) in TREC meetings.
C) on the Internet.
D) in person.
-C) Fixity - -Investment permanence is another term for:
,A) Scarcity
B) Situs
C) Fixity
D) Modification
-D) All of these - -The Real Estate License Act defines a broker as a person who does which
of these?
A) Negotiates or attempts to negotiate the listing, sale, exchange, purchase, or lease of real
estate
B) lists or offers, attempts, or agrees to list real estate for sale, lease, or exchange
C) procures or assists in procuring a prospect to effect the sale, exchange, or lease of real
estate
D) All of these
-C) Amusement Park Management - -A short list of types of specialized brokerages in
Texas, includes all of these, except:
A) Rental Properties
B) Property Management
C) Amusement Park Management
D) Farm and Ranch Properties
-A) Forestry Maintenance - -Which of these is NOT a type of real property?
A) Forestry Maintenance
B) Agricultural
C) Mixed Use Property
D) Commercial
-B) All of these. - -Real property, often referred to as real estate, includes which of the
following?
A) Land.
B) All of these.
C) Natural resources like water, minerals, and crops.
D) Structures attached directly to the land.
-A) harvestable plants, trees, and cultivated vegetation. - -"Emblements" are best
described by which of the following?
A) harvestable plants, trees, and cultivated vegetation.
B) impediments to the free and clear ownership and use of property.
C) the unauthorized intrusion of vegetation onto another person's land.
D) fixtures.
-B) All of the answers together are correct. - -A manufactured home can be considered real
property if:
A) both the Texas Department of Housing and Community Affairs and the home's county's
chief tax appraiser have been notified of the filing
B) All of the answers together are correct.
, C) the owner of the home has elected to treat the home as their real property
D) 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
-C) Investment. - -Which of these is not a classification of real property?
A) Commercial.
B) Residential.
C) Investment.
D) Agricultural.
-C) Cost of the object - -Which of these IS NOT a factor to consider in determining if an
object is a fixture?
A) Manner of Attachment
B) Intention of the installer
C) Cost of the object
D) Adaptation of the object
-D) Permanency of the method of attachment - -The ____________ is a factor in determining if
something is a fixture
1) Age and Condition
B) Original cost and remaining balance
C) Previous ownership
D) Permanency of the method of attachment
-A) The owner of the home has elected to treat the home as their real property - -Which of
the following is a major key to a manufactured home in Texas being considered real
property?
A) The owner of the home has elected to treat the home as their real property
B) The owner also owns the land beneath it, regardless of the owner's intent
C) The home was placed there prior to 1982
D) The home has been in the same place for more than two years
-A) All of these are elements of location - -Which of these is an element of location?
A) All of these are elements of location
B) Cultural opportunities
C) Employment opportunities
D) Transportation
-D) Employment opportunity - -The number one reason that people move is:
A) Social Services
B) Education
C) Transportation
D) Employment opportunity
-A) $10,000 - -How much money can a first time homebuyer draw from his or her own IRA
without tax penalty for the purchase?
