REALESTATEU TEXAS REAL ESTATE
PRINCIPLES PART 1 PRACTICE SOLUTION
2026 TOTAL QUESTIONS FULLY RESOLVED
◉ Which of the following is considered a legal test for determining if
an item is a fixture or not...? Answer: Intention of the parties,
adaption of the item, & Mode and permanence of how the item was
attached
◉ The transfer of personal property is typically done using a...?
Answer: Bill of Sale
◉ Mineral rights are typically considered dominant to which of the
following rights...? Answer: Surface rights
◉ Mobile homes not permanently attached to the land are generally
considered...? Answer: Personal Property
◉ Which of the following is an advantage to owning a home...?
Answer: Tax benefits
Pride of ownership
Potential for asset appreciation
,◉ Which of the following is NOT a form of real property...? Answer:
Cooperative
◉ Owners of a cooperative apartment hold which of the following...?
Answer: Proprietary lease
◉ An individual who has not owned real property for at least the
previous two years is known as a...? Answer: First-time homebuyer
◉ An insurance policy protecting against a variety of hazards is
referred to as a...? Answer: Homeowners Policy
◉ A form of ownership of real property recognized in all states that
consists of individual ownership of some aspects and co-ownership
in other aspects of the property is known as a...? Answer: Condo
◉ An individual is exempt from paying taxes on capital gains for up
to how much in profit if he/she lived in the house for at least 2 of the
last 5 years...? Answer: $250,000
◉ A local real estate developer bought an abandoned school building
with the intention of converting it to residential units. This is an
example of a... Answer: Converted-use property
, ◉ An agency relationship created by oral or written agreement
between the principal and the agent is known as...? Answer: Express
Agency
◉ Real estate brokers have a ................... relationship with the
principal? Answer: Fiduciary
◉ The listing agreement is a contract between the real estate broker
and the...? Answer: Seller
◉ As a seller's agent in a transaction, the agent is required to do
which of the following...? Answer: Inform the seller of any material
information
Present all offers to the seller
Answer to the seller
◉ C.O.A.L.D Answer: care, obedience, accounting, loyalty, and
disclosure
◉ The Deceptive Trade Practices Act discourages agent from which
of the following acts...? Answer: Puffing
PRINCIPLES PART 1 PRACTICE SOLUTION
2026 TOTAL QUESTIONS FULLY RESOLVED
◉ Which of the following is considered a legal test for determining if
an item is a fixture or not...? Answer: Intention of the parties,
adaption of the item, & Mode and permanence of how the item was
attached
◉ The transfer of personal property is typically done using a...?
Answer: Bill of Sale
◉ Mineral rights are typically considered dominant to which of the
following rights...? Answer: Surface rights
◉ Mobile homes not permanently attached to the land are generally
considered...? Answer: Personal Property
◉ Which of the following is an advantage to owning a home...?
Answer: Tax benefits
Pride of ownership
Potential for asset appreciation
,◉ Which of the following is NOT a form of real property...? Answer:
Cooperative
◉ Owners of a cooperative apartment hold which of the following...?
Answer: Proprietary lease
◉ An individual who has not owned real property for at least the
previous two years is known as a...? Answer: First-time homebuyer
◉ An insurance policy protecting against a variety of hazards is
referred to as a...? Answer: Homeowners Policy
◉ A form of ownership of real property recognized in all states that
consists of individual ownership of some aspects and co-ownership
in other aspects of the property is known as a...? Answer: Condo
◉ An individual is exempt from paying taxes on capital gains for up
to how much in profit if he/she lived in the house for at least 2 of the
last 5 years...? Answer: $250,000
◉ A local real estate developer bought an abandoned school building
with the intention of converting it to residential units. This is an
example of a... Answer: Converted-use property
, ◉ An agency relationship created by oral or written agreement
between the principal and the agent is known as...? Answer: Express
Agency
◉ Real estate brokers have a ................... relationship with the
principal? Answer: Fiduciary
◉ The listing agreement is a contract between the real estate broker
and the...? Answer: Seller
◉ As a seller's agent in a transaction, the agent is required to do
which of the following...? Answer: Inform the seller of any material
information
Present all offers to the seller
Answer to the seller
◉ C.O.A.L.D Answer: care, obedience, accounting, loyalty, and
disclosure
◉ The Deceptive Trade Practices Act discourages agent from which
of the following acts...? Answer: Puffing
