RMLO CHAMPIONS SCHOOL OF REAL ESTATE
EXAM SCRIPT 2026 QUESTIONS WITH
ANSWERS GRADED A+
◉ Common Law. Answer: Law based on common sense and local
custom
◉ Statutory law. Answer: Law and regulation enacted by federal and
state legislation
◉ TRELA-Texas Real Estate Licencing Act. Answer: Protects public
against unscrupulous broker and agents
◉ TREC Texas Real Estate Commission. Answer: created in 1949
9 member commission, appointed by governor, serves 6 year term, 6
members are RE brokers, 3 Members are public
◉ Appraisal. Answer: Providing a professional opinion of the value
of real propery
◉ RMLO's in TX are licensed through the. Answer: Texas Dept of
Savings and Mortgage Lending
,◉ Land. Answer: Surface of the earth extending to the center and
upward above the surface to infinity, includes natural things-trees,
crops and water
◉ Real Estate. Answer: all that is encompassed in land, with the
addition of all man-made additions to the land, such as roads, houses
and commercial buildings
◉ Real Property. Answer: includes the rights that a person has in the
land, goes beyond physical real estate
◉ Severable. Answer: common for different individuals to own
different rights of the same piece of land; surface owners do not own
the subsurface rights to their property.
◉ Surface rights. Answer: owner has right to improve or develop the
surface and use resources extracted from or near the surface,
including stone, gravel, water and limestone
◉ subsurface rights. Answer: include the rights to oil, gas and other
minerals, commonly conveyed through a lease, mineral deed or by
reservation
, ◉ Air rights. Answer: extend above the surface without limitation,
can be leased, sold or mortgaged. prohibit any activity that blocks
the view of a building, cell phone transmitter tower or billboard
◉ Solar access. Answer: property owners have a right to reasonable
amount of sunlight for heating. roman law dating back 2000 years
◉ Surface rights. Answer: transferred to new owners in total
◉ Royalty rights. Answer: right to collect a royalty for oil and gas
production
◉ Executive Rights. Answer: right to execute a contract or lease for
the exploration of oil and gas
◉ Bundle of Rights. Answer: Rights that are associated with the
ownership of real property are often referred to as the owners.
◉ homeowner's costs of ownership includes. Answer: Mortgage,
taxes, repairs and maintenance, interest, insurance, utlilites
◉ Capital Gain. Answer: Gain on the sale of an asset for the seller
EXAM SCRIPT 2026 QUESTIONS WITH
ANSWERS GRADED A+
◉ Common Law. Answer: Law based on common sense and local
custom
◉ Statutory law. Answer: Law and regulation enacted by federal and
state legislation
◉ TRELA-Texas Real Estate Licencing Act. Answer: Protects public
against unscrupulous broker and agents
◉ TREC Texas Real Estate Commission. Answer: created in 1949
9 member commission, appointed by governor, serves 6 year term, 6
members are RE brokers, 3 Members are public
◉ Appraisal. Answer: Providing a professional opinion of the value
of real propery
◉ RMLO's in TX are licensed through the. Answer: Texas Dept of
Savings and Mortgage Lending
,◉ Land. Answer: Surface of the earth extending to the center and
upward above the surface to infinity, includes natural things-trees,
crops and water
◉ Real Estate. Answer: all that is encompassed in land, with the
addition of all man-made additions to the land, such as roads, houses
and commercial buildings
◉ Real Property. Answer: includes the rights that a person has in the
land, goes beyond physical real estate
◉ Severable. Answer: common for different individuals to own
different rights of the same piece of land; surface owners do not own
the subsurface rights to their property.
◉ Surface rights. Answer: owner has right to improve or develop the
surface and use resources extracted from or near the surface,
including stone, gravel, water and limestone
◉ subsurface rights. Answer: include the rights to oil, gas and other
minerals, commonly conveyed through a lease, mineral deed or by
reservation
, ◉ Air rights. Answer: extend above the surface without limitation,
can be leased, sold or mortgaged. prohibit any activity that blocks
the view of a building, cell phone transmitter tower or billboard
◉ Solar access. Answer: property owners have a right to reasonable
amount of sunlight for heating. roman law dating back 2000 years
◉ Surface rights. Answer: transferred to new owners in total
◉ Royalty rights. Answer: right to collect a royalty for oil and gas
production
◉ Executive Rights. Answer: right to execute a contract or lease for
the exploration of oil and gas
◉ Bundle of Rights. Answer: Rights that are associated with the
ownership of real property are often referred to as the owners.
◉ homeowner's costs of ownership includes. Answer: Mortgage,
taxes, repairs and maintenance, interest, insurance, utlilites
◉ Capital Gain. Answer: Gain on the sale of an asset for the seller
