Principles of Real Estate 1- Champions School of Real Estate Exam Questions With Correct Answers

Principles of Real Estate 1- Champions School of
Real Estate Exam Questions With Correct
Answers

a |freeway |has |made |commuting |to |a |distant |suburban |neighborhood |easier, |resulting |in |an |
increase |in |new |home |sales. |This |increase |in |sales |is |an |example |of |the |economic |
characteristic |of |

A.) |scarcity

B.) |Fixity |

C.) |Situs

D.) |Modification |- |CORRECT |ANSWER✔✔-D.) |Modification



The |supply |of |Real |Estate |is |affected |by |

A.) |Land |cost

B.) |Building |codes |

C.) |Government |regulations |

D.) |All |of |these |- |CORRECT |ANSWER✔✔-D.) |All |of |these



The |least |important |factor |affecting |demand |for |real |estate |is: |

A.) |Population |Growth |

B.) |Personal |Preference

C.) |Availability |of |Credit

D.) |Transportation |Systems |- |CORRECT |ANSWER✔✔-B.) |Personal |Preference

,A |lawsuit |was |tried |on |a |real |estate |matter. |The |judge |ruled |in |the |case, |citing |the |decision |of |
a |judge |in |a |similar |case |that |was |tried |ten |years |ago. |The |judges |decision |in |the |case |was |
most |likely |based |upon: |

A.) |Statutory |Law |

B.) |Civil |Law |

C.) |Common |Law |

D.) |Local |ordinance |- |CORRECT |ANSWER✔✔-C.) |Common |Law



A |license |holder |was |tried |in |a |state |district |court |on |a |complaint |arising |from |a |real |estate |
transaction. |The |court |ruled |that, |among |other |transgressions, |the |defendant |had |violated |the
|Texas |Real |Estate |License |Act. |This |decision |of |the |judge |was |based |upon:



A.) |Statutory |law |

B.) |Civil |Law |

C.) |Common |Law |

D.) |Local |Ordinance |- |CORRECT |ANSWER✔✔-A.) |Statutory |Law



RMLOs |in |Texas |are |licensed |through: |

A.) |Texas |Real |Estate |Commission |

B.) |National |Mortgage |Bankers |Association |

C.) |Texas |Department |of |Savings |and |Mortgage |Lending

D.) |Texas |savings |and |loan |board |- |CORRECT |ANSWER✔✔-C.) |Texas |Department |of |Savings |and
|Mortgage |Lending




A |Freeway |has |made |commuting |to |a |distant |suburban |neighborhood |easier, |resulting |in |an |
increase |in |new |home |sales. |This |increase |in |sales |is |an |example |of |the |economic |
characteristics |of: |

A.) |Scarcity

B.) |Fixity |

, C.) |Situs |

D.) |Modification |- |CORRECT |ANSWER✔✔-D.) |Modification



Air |Rights |are |commonly |leased |or |conveyed |in:

A.) |Cell |tower |leases |

B.) |Condominiums |

C.) |Outdoor |Advertising |

D.) |All |of |these |are |correct |- |CORRECT |ANSWER✔✔-D) |all |of |these



Building, |roads |and |fences |are |all |examples |of: |

A.) |Personal |Property

B.) |Private |Property |

C.) |Improvements |

D.) |Public |Property |- |CORRECT |ANSWER✔✔-C.) |Improvements



If |a |tenant |fails |to |remove |trade |fixtures |from |the |leased |premises, |the |fixtures |become |the |
property |of |the |landlord |through: |

A.) |Remediation |

B.) |Adverse |Possession |

C.) |Accession |

D.) |Descent |- |CORRECT |ANSWER✔✔-C.) |Accession



Effective |in |1976, |manufactured |homes |have |been |built |according |to |a |building |code |
administered |by: |

A.) |Local |building |departments |

B.) |State |code |enforcement |

C.) |HUD