REAL ESTATE EXAM- PRINCIPLES OF
REAL ESTATE 1 QUESTIONS &
VERIFIED COMPLETE SOLUTIONS
RATED 100% CORRECT
The purpose of the TRELA is to... - correct answer ✔✔protect the public against unscrupulous
brokers and salespersons.
What is required to obtain a license in Texas? - correct answer ✔✔be a resident of Texas at least
18 yrs of age at the time of application, be of good moral character, must show competency by
passing the exam
How long does a consumer have to file a complaint with TREC against a licensee? - correct
answer ✔✔Four years
If the licensee pays a commission to any unlicensed person, places a sign offering a property
without the written permission of the owner, sells real estate by lottery this can happen.... -
correct answer ✔✔A license can be revoked or suspended by the TREC
Who promulgates real estate contract forms in Texas? - correct answer ✔✔The Broker Lawyer
Committee
Which economic characteristic of land describes location preference from an economic point of
view? - correct answer ✔✔situs
What is often considered the most important test of a fixture? - correct answer ✔✔Intentions
of the parties
, Which of the following is an example of an encroachment? - correct answer ✔✔The neighbor's
fence is on your land.
PETE: police power, eminent domain (gvt.takes private land for public use), Taxation, Escheat
(gvt. Takes title of land where owner has no heirs or will) - correct answer ✔✔The government's
rights in land
The highest priority lien against real property is - correct answer ✔✔property tax
A property description that is considered an informal reference is - correct answer ✔✔a street
address.
The type of ownership in which the person has the most rights is called - correct answer ✔✔fee
simple
Texas is a community property state. What is true about community property? - correct answer
✔✔Property inherited by one spouse can remain separate property of that spouse.
When property has only one owner it is called - correct answer ✔✔severalty
Property held by two or more owners with rights of survivorship is - correct answer ✔✔joint
tenancy
A lease with a specific starting and ending date is called - correct answer ✔✔an estate for years
or tenancy for years.
When the landlord pays all of the expenses of the property and then tenant pays only the rent,
this is called - correct answer ✔✔a gross lease
REAL ESTATE 1 QUESTIONS &
VERIFIED COMPLETE SOLUTIONS
RATED 100% CORRECT
The purpose of the TRELA is to... - correct answer ✔✔protect the public against unscrupulous
brokers and salespersons.
What is required to obtain a license in Texas? - correct answer ✔✔be a resident of Texas at least
18 yrs of age at the time of application, be of good moral character, must show competency by
passing the exam
How long does a consumer have to file a complaint with TREC against a licensee? - correct
answer ✔✔Four years
If the licensee pays a commission to any unlicensed person, places a sign offering a property
without the written permission of the owner, sells real estate by lottery this can happen.... -
correct answer ✔✔A license can be revoked or suspended by the TREC
Who promulgates real estate contract forms in Texas? - correct answer ✔✔The Broker Lawyer
Committee
Which economic characteristic of land describes location preference from an economic point of
view? - correct answer ✔✔situs
What is often considered the most important test of a fixture? - correct answer ✔✔Intentions
of the parties
, Which of the following is an example of an encroachment? - correct answer ✔✔The neighbor's
fence is on your land.
PETE: police power, eminent domain (gvt.takes private land for public use), Taxation, Escheat
(gvt. Takes title of land where owner has no heirs or will) - correct answer ✔✔The government's
rights in land
The highest priority lien against real property is - correct answer ✔✔property tax
A property description that is considered an informal reference is - correct answer ✔✔a street
address.
The type of ownership in which the person has the most rights is called - correct answer ✔✔fee
simple
Texas is a community property state. What is true about community property? - correct answer
✔✔Property inherited by one spouse can remain separate property of that spouse.
When property has only one owner it is called - correct answer ✔✔severalty
Property held by two or more owners with rights of survivorship is - correct answer ✔✔joint
tenancy
A lease with a specific starting and ending date is called - correct answer ✔✔an estate for years
or tenancy for years.
When the landlord pays all of the expenses of the property and then tenant pays only the rent,
this is called - correct answer ✔✔a gross lease
