TEXAS PRINCIPLES OF REAL ESTATE
1 FINAL EXAM QUESTIONS &
VERIFIED COMPLETE SOLUTIONS
100%
Which choice describes "rubber hits the road" education that meets the education
requirements for license renewal? - correct answer ✔✔REALTORS Land Institute
What is the only scenario in which you do NOT need a real estate license to sell or lease a
property? - correct answer ✔✔If you are not receiving commission from the sale.
TRUE or FALSE: Employees working for a commercial firm do not have to have a real estate
license if they are selling property owned by their firm. - correct answer ✔✔True
Which of the following actions does NOT require a real estate license? - correct answer
✔✔Selling a portion of a joint ownership in a property
When does an inactive license become active? - correct answer ✔✔When the license holder
joins a brokerage
The following circumstances would make the license of a salesperson inactive EXCEPT: - correct
answer ✔✔Having a Recovery Fund payment as a result of an improper transaction.
The average number of months it will take to sell a house in a buyer's market is: - correct
answer ✔✔6 months or more
,When an appraisal report is not available, which of the following provides the BEST data for
setting a listing price? - correct answer ✔✔The Price willing buyers have recently paid similar
properties in the area
Which of the following actions is NOT grounds for disciplinary action, including revocation or
suspension of a license? - correct answer ✔✔Failing to obey a clients unlawful instruction
Commingling happens when: - correct answer ✔✔A license holder mixes their own money with
a client's money.
Which of the following acts is NOT necessarily wrong? - correct answer ✔✔The Buyer and Seller
both pay the commission.
Who requires sponsorship to practice real estate? - correct answer ✔✔sales agent
What is the difference between land and real estate? - correct answer ✔✔Land is a tract of
earth plus the resources above and below; real estate is land plus human-made improvements.
The bundle of right associated with property ownership include quiet enjoyment, possession,
disposition, and: - correct answer ✔✔Exclusion
When an individual owns the mineral rights, they own: - correct answer ✔✔Subsurface Rights
Ownership rights include surface rights (mineral rights), subsurface rights, air rights, and: -
correct answer ✔✔Water Rights
Can an agent assure a purchaser that they will acquire mineral rights with their sale? - correct
answer ✔✔No, questions about mineral rights are best left to an oil and gas attorney
, What is the name for water rights that govern the use of flowing water, like a stream or river? -
correct answer ✔✔Riparian Rights
Buyer Alex is looking at a lakefront property. He has questions about whether he would be
allowed to access and use the lake. What kind of rights is Alex wondering about? - correct
answer ✔✔Littoral Rights
What is another term for personalty? - correct answer ✔✔Chattel
Which of the these is transferred through a bill of sale rather than a conveyance instrument
such as a deed or will? - correct answer ✔✔Chattel
If an owner cuts down a tree, it becomes personal property by the act of: - correct answer
✔✔Severance
Seller Mandy has decided she's taking her hot tub with her when she sells the house. She
unbolts the tub from the deck and has it moved to her new home. What did this act of
severance do? - correct answer ✔✔Turned real property into personal property
What is the definition of a fixture? - correct answer ✔✔Personal property that has been
permanently attached to real estate
Ricky bought a ceiling fan. When he brought it home, it was personal property. Then, he
permanently installed it into his ceiling. Now it has become real property. What is this process
called? - correct answer ✔✔Affixing
Which of the following is a fixture? - correct answer ✔✔A ceiling fan attached to the ceiling
What is the definition of a trade fixture? - correct answer ✔✔Personal Property attached to real
property that is owned by and needed for a tenant's business
1 FINAL EXAM QUESTIONS &
VERIFIED COMPLETE SOLUTIONS
100%
Which choice describes "rubber hits the road" education that meets the education
requirements for license renewal? - correct answer ✔✔REALTORS Land Institute
What is the only scenario in which you do NOT need a real estate license to sell or lease a
property? - correct answer ✔✔If you are not receiving commission from the sale.
TRUE or FALSE: Employees working for a commercial firm do not have to have a real estate
license if they are selling property owned by their firm. - correct answer ✔✔True
Which of the following actions does NOT require a real estate license? - correct answer
✔✔Selling a portion of a joint ownership in a property
When does an inactive license become active? - correct answer ✔✔When the license holder
joins a brokerage
The following circumstances would make the license of a salesperson inactive EXCEPT: - correct
answer ✔✔Having a Recovery Fund payment as a result of an improper transaction.
The average number of months it will take to sell a house in a buyer's market is: - correct
answer ✔✔6 months or more
,When an appraisal report is not available, which of the following provides the BEST data for
setting a listing price? - correct answer ✔✔The Price willing buyers have recently paid similar
properties in the area
Which of the following actions is NOT grounds for disciplinary action, including revocation or
suspension of a license? - correct answer ✔✔Failing to obey a clients unlawful instruction
Commingling happens when: - correct answer ✔✔A license holder mixes their own money with
a client's money.
Which of the following acts is NOT necessarily wrong? - correct answer ✔✔The Buyer and Seller
both pay the commission.
Who requires sponsorship to practice real estate? - correct answer ✔✔sales agent
What is the difference between land and real estate? - correct answer ✔✔Land is a tract of
earth plus the resources above and below; real estate is land plus human-made improvements.
The bundle of right associated with property ownership include quiet enjoyment, possession,
disposition, and: - correct answer ✔✔Exclusion
When an individual owns the mineral rights, they own: - correct answer ✔✔Subsurface Rights
Ownership rights include surface rights (mineral rights), subsurface rights, air rights, and: -
correct answer ✔✔Water Rights
Can an agent assure a purchaser that they will acquire mineral rights with their sale? - correct
answer ✔✔No, questions about mineral rights are best left to an oil and gas attorney
, What is the name for water rights that govern the use of flowing water, like a stream or river? -
correct answer ✔✔Riparian Rights
Buyer Alex is looking at a lakefront property. He has questions about whether he would be
allowed to access and use the lake. What kind of rights is Alex wondering about? - correct
answer ✔✔Littoral Rights
What is another term for personalty? - correct answer ✔✔Chattel
Which of the these is transferred through a bill of sale rather than a conveyance instrument
such as a deed or will? - correct answer ✔✔Chattel
If an owner cuts down a tree, it becomes personal property by the act of: - correct answer
✔✔Severance
Seller Mandy has decided she's taking her hot tub with her when she sells the house. She
unbolts the tub from the deck and has it moved to her new home. What did this act of
severance do? - correct answer ✔✔Turned real property into personal property
What is the definition of a fixture? - correct answer ✔✔Personal property that has been
permanently attached to real estate
Ricky bought a ceiling fan. When he brought it home, it was personal property. Then, he
permanently installed it into his ceiling. Now it has become real property. What is this process
called? - correct answer ✔✔Affixing
Which of the following is a fixture? - correct answer ✔✔A ceiling fan attached to the ceiling
What is the definition of a trade fixture? - correct answer ✔✔Personal Property attached to real
property that is owned by and needed for a tenant's business
