Principles of Real Estate Final Exam
Questions with Answers
The purpose of the TRELA is to... - ✔✔protect the public against unscrupulous brokers and
salespersons.
What is required to obtain a license in Texas? - ✔✔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
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.... -
✔✔A license can be revoked or suspended by the TREC
How long does a consumer have to file a complaint with TREC against a licensee? - ✔✔Four
years
Who promulgates real estate contract forms in Texas? - ✔✔The Broker Lawyer Committee
Which economic characteristic of land describes location preference from an economic point of
view? - ✔✔situs
What is often considered the most important test of a fixture? - ✔✔Intentions of the parties
Which of the following is an example of an encroachment? - ✔✔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) - ✔✔The government's rights in land
, A property description that is considered an informal reference is - ✔✔a street address.
The highest priority lien against real property is - ✔✔property tax
The type of ownership in which the person has the most rights is called - ✔✔fee simple
Texas is a community property state. What is true about community property? - ✔✔Property
inherited by one spouse can remain separate property of that spouse.
When property has only one owner it is called - ✔✔severalty
Property held by two or more owners with rights of survivorship is - ✔✔joint tenancy
A lease with a specific starting and ending date is called - ✔✔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 - ✔✔a gross lease
An easement can be terminated by - ✔✔merger
Deeds require the signature of - ✔✔the grantor
The deed that gives the buyer the greatest protection is called - ✔✔the general warranty deed
Title to real property transfers when - ✔✔the deed is delivered
Questions with Answers
The purpose of the TRELA is to... - ✔✔protect the public against unscrupulous brokers and
salespersons.
What is required to obtain a license in Texas? - ✔✔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
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.... -
✔✔A license can be revoked or suspended by the TREC
How long does a consumer have to file a complaint with TREC against a licensee? - ✔✔Four
years
Who promulgates real estate contract forms in Texas? - ✔✔The Broker Lawyer Committee
Which economic characteristic of land describes location preference from an economic point of
view? - ✔✔situs
What is often considered the most important test of a fixture? - ✔✔Intentions of the parties
Which of the following is an example of an encroachment? - ✔✔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) - ✔✔The government's rights in land
, A property description that is considered an informal reference is - ✔✔a street address.
The highest priority lien against real property is - ✔✔property tax
The type of ownership in which the person has the most rights is called - ✔✔fee simple
Texas is a community property state. What is true about community property? - ✔✔Property
inherited by one spouse can remain separate property of that spouse.
When property has only one owner it is called - ✔✔severalty
Property held by two or more owners with rights of survivorship is - ✔✔joint tenancy
A lease with a specific starting and ending date is called - ✔✔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 - ✔✔a gross lease
An easement can be terminated by - ✔✔merger
Deeds require the signature of - ✔✔the grantor
The deed that gives the buyer the greatest protection is called - ✔✔the general warranty deed
Title to real property transfers when - ✔✔the deed is delivered
