AYPO REAL ESTATE UPDATED TEST PAPER QUESTIONS
AND SOLUTIONS GUARANTEE A+
✔✔A manufactured home can be considered real property if: - ✔✔1. both the Texas
Department of Housing and Community Affairs and the home's county's chief tax
appraiser have been notified of the filing
2. a certified copy of the "Statement of ownership and location" for the home has been
filed by the owner in the real property records of the county where the home is located
3. the owner of the home has elected to treat the home as their real property
✔✔The number one reason that people move is: - ✔✔Employment opportunity
✔✔How much money can a first time homebuyer draw from his or her own IRA without
tax penalty for the purchase? - ✔✔$10,000
✔✔According to the Texas Department of Insurance, most homeowners policies in
Texas include which of the following coverages? - ✔✔1. Loss of use.
2. Medical payments.
3. Dwelling.
✔✔A C.L.U.E. report advises a consumer on: - ✔✔up to seven years of claims history
on a property
✔✔Prior to the introduction of the condominium concept, property ownership had been
limited to ownership of... - ✔✔Land.
✔✔All the meanings of agent and agency refer to someone who does which of the
following? (Best answer.) - ✔✔Acts on behalf of someone else to perform a task or
range of tasks.
✔✔An appointed licensee must do which of the following? - ✔✔Not disclose that an
owner would accept a price lower than the asking price
✔✔Which of the following fulfills Section 1101.806 of TRELA requirements for
compensation? - ✔✔The agreement to pay was in writing and signed by the party to be
charged
✔✔Multiple real estate brokerages establishing an across-the-board 6% commission for
their agents would be guilty of... - ✔✔price fixing.
✔✔Which of the following are common law fiduciary duties? - ✔✔Care, disclosure,
loyalty, accounting, & obedience
, ✔✔Which of the following is not used as a test to determine whether a statement is
mere "puffing"? - ✔✔The cost of the good or service
✔✔The term "false, misleading, or deceptive acts or practices" includes, but is not
limited to which of the following acts? - ✔✔1. Using deceptive representations or
designations of geographic origin in connection with goods or services
2. Passing off goods or services as those of another
3. Disparaging the goods, services, or business of another by false or misleading
representation of facts
✔✔Changes to the Fair Housing Act include: - ✔✔Public and common areas must be
accessible to persons with disabilities
✔✔An aggrieved party may bring a private enforcement action in a state or federal
district court : - ✔✔within two years of the stated discriminatory action and can even be
filed if an administrative proceeding through TWCCRD is in process
✔✔The practice wherein consumers of protected classes are directed to certain
neighborhoods when shopping for housing is called: - ✔✔Steering.
✔✔Applicants who are rejected for credit must be notified in writing of the basic reasons
for the denial of their application, and the reason for their credit rating when? - ✔✔within
30 days
✔✔Each year the CRA requires federally supervised financial institutions to prepare
annual statements that include which of the following information? - ✔✔any comments
from the public about the specific financial institution's performance in meeting their
community's needs
✔✔The commission may require a license holder whose license suspension or
revocation is probated to: - ✔✔limit practice to an area prescribed by the commission
✔✔Which of these IS NOT one of the five canons of ethics? - ✔✔Cooperation
✔✔No real estate license holder shall discriminate against an owner based upon which
of the following: - ✔✔Ancestry
✔✔Which of these IS NOT a subchapter subject matter addressed by TRELA? -
✔✔How to attract and maintain a real estate client
✔✔The real estate math section of the exam includes questions on which topics: - ✔✔1.
Depreciation
2. Amortization
AND SOLUTIONS GUARANTEE A+
✔✔A manufactured home can be considered real property if: - ✔✔1. both the Texas
Department of Housing and Community Affairs and the home's county's chief tax
appraiser have been notified of the filing
2. a certified copy of the "Statement of ownership and location" for the home has been
filed by the owner in the real property records of the county where the home is located
3. the owner of the home has elected to treat the home as their real property
✔✔The number one reason that people move is: - ✔✔Employment opportunity
✔✔How much money can a first time homebuyer draw from his or her own IRA without
tax penalty for the purchase? - ✔✔$10,000
✔✔According to the Texas Department of Insurance, most homeowners policies in
Texas include which of the following coverages? - ✔✔1. Loss of use.
2. Medical payments.
3. Dwelling.
✔✔A C.L.U.E. report advises a consumer on: - ✔✔up to seven years of claims history
on a property
✔✔Prior to the introduction of the condominium concept, property ownership had been
limited to ownership of... - ✔✔Land.
✔✔All the meanings of agent and agency refer to someone who does which of the
following? (Best answer.) - ✔✔Acts on behalf of someone else to perform a task or
range of tasks.
✔✔An appointed licensee must do which of the following? - ✔✔Not disclose that an
owner would accept a price lower than the asking price
✔✔Which of the following fulfills Section 1101.806 of TRELA requirements for
compensation? - ✔✔The agreement to pay was in writing and signed by the party to be
charged
✔✔Multiple real estate brokerages establishing an across-the-board 6% commission for
their agents would be guilty of... - ✔✔price fixing.
✔✔Which of the following are common law fiduciary duties? - ✔✔Care, disclosure,
loyalty, accounting, & obedience
, ✔✔Which of the following is not used as a test to determine whether a statement is
mere "puffing"? - ✔✔The cost of the good or service
✔✔The term "false, misleading, or deceptive acts or practices" includes, but is not
limited to which of the following acts? - ✔✔1. Using deceptive representations or
designations of geographic origin in connection with goods or services
2. Passing off goods or services as those of another
3. Disparaging the goods, services, or business of another by false or misleading
representation of facts
✔✔Changes to the Fair Housing Act include: - ✔✔Public and common areas must be
accessible to persons with disabilities
✔✔An aggrieved party may bring a private enforcement action in a state or federal
district court : - ✔✔within two years of the stated discriminatory action and can even be
filed if an administrative proceeding through TWCCRD is in process
✔✔The practice wherein consumers of protected classes are directed to certain
neighborhoods when shopping for housing is called: - ✔✔Steering.
✔✔Applicants who are rejected for credit must be notified in writing of the basic reasons
for the denial of their application, and the reason for their credit rating when? - ✔✔within
30 days
✔✔Each year the CRA requires federally supervised financial institutions to prepare
annual statements that include which of the following information? - ✔✔any comments
from the public about the specific financial institution's performance in meeting their
community's needs
✔✔The commission may require a license holder whose license suspension or
revocation is probated to: - ✔✔limit practice to an area prescribed by the commission
✔✔Which of these IS NOT one of the five canons of ethics? - ✔✔Cooperation
✔✔No real estate license holder shall discriminate against an owner based upon which
of the following: - ✔✔Ancestry
✔✔Which of these IS NOT a subchapter subject matter addressed by TRELA? -
✔✔How to attract and maintain a real estate client
✔✔The real estate math section of the exam includes questions on which topics: - ✔✔1.
Depreciation
2. Amortization
