AYPO Real Estate Principles of Real Estate I Exam Questions with 100%
Questions with Correct Answers
Question 1:
The definition of brokerage is the business of bringing parties together who are interested in
conducting a real estate transaction.
Answer:
Brokerage
Question 2:
a person who, in exchange for a commission or other valuable consideration or with the
expectation of receiving a commission or other valuable consideration, performs for another
person one of the following acts, including helping another person to conduct a real estate
transaction
Answer:
Broker
Question 3:
(TRELA)
Answer:
The Real Estate License Act
Question 4:
There are other types of specialized brokerages. This is a short list of other brokerages in Texas:
property management, rental properties, and farm and ranch properties. To be a specialist in
other brokerages, such as these, additional education and experience often are require TREC
Answer:
The Texas Real Estate Commission, TREC, has the authority under TRELA to suspend or even
revoke a broker's license if they conduct the unlawful practice of law.
While brokers deal with legal sales contracts daily, licensees (brokers or sales agents) should
advise their clients, buyers or sellers, that if there are provisions in those contracts that they do
not understand, the clients should seek legal counsel.
, Question 5:
Education Standards Advisory Committee
Answer:
In 2011, the Texas Legislature created the Education Standard Advisory Committee (ESAC)
under TRELA (Section 535.75). The stated purpose of ESAC is to approve and regulate
continuing education providers and accredited schools offering real estate courses (qualifying
courses and real estate
Question 6:
The committee consists of 12 members appointed by the commission as follows:
Seven members who have been engaged in the practice of real estate for at least five years
before the member's appointment and who are actively engaged in that practice;
Four members who are real estate instructors or owners of real estate schools accredited by
the commission that provide core or continuing education;
One member who represents the public.
The Commission may appoint a non-voting member from the commission.
Appointments to the committee shall be made without regard to the race, color, disability, sex,
religion, age, or national origin of the appointee.
Members of the committee serve two-year terms, expiring on December 31 of each
even-numbered year. A member may serve up to three consecutive terms on the committee,
and may be reappointed after a break in service of at least two years. A member whose term
has expired holds office until the member's successor is appointed. If a vacancy occurs during a
member's term, the commission shall appoint a person to fill the unexpired term.
At a regular meeting in January of each odd-numbered year, the committee shall elect from its
members a presiding officer, assistant presiding officer, and secretary.
Economic Characteristics of Land
Answer:
There are generally four economic characteristics of land: Scarcity Modification Fixity
Situs
Question 7:
Modification
Answer:
Modifications, also called improvements, are man-made developments made to real property.
Modifications greatly influence land use and value. They can be anything from apartments to
airports, schools to sewers, farms to factories.
Questions with Correct Answers
Question 1:
The definition of brokerage is the business of bringing parties together who are interested in
conducting a real estate transaction.
Answer:
Brokerage
Question 2:
a person who, in exchange for a commission or other valuable consideration or with the
expectation of receiving a commission or other valuable consideration, performs for another
person one of the following acts, including helping another person to conduct a real estate
transaction
Answer:
Broker
Question 3:
(TRELA)
Answer:
The Real Estate License Act
Question 4:
There are other types of specialized brokerages. This is a short list of other brokerages in Texas:
property management, rental properties, and farm and ranch properties. To be a specialist in
other brokerages, such as these, additional education and experience often are require TREC
Answer:
The Texas Real Estate Commission, TREC, has the authority under TRELA to suspend or even
revoke a broker's license if they conduct the unlawful practice of law.
While brokers deal with legal sales contracts daily, licensees (brokers or sales agents) should
advise their clients, buyers or sellers, that if there are provisions in those contracts that they do
not understand, the clients should seek legal counsel.
, Question 5:
Education Standards Advisory Committee
Answer:
In 2011, the Texas Legislature created the Education Standard Advisory Committee (ESAC)
under TRELA (Section 535.75). The stated purpose of ESAC is to approve and regulate
continuing education providers and accredited schools offering real estate courses (qualifying
courses and real estate
Question 6:
The committee consists of 12 members appointed by the commission as follows:
Seven members who have been engaged in the practice of real estate for at least five years
before the member's appointment and who are actively engaged in that practice;
Four members who are real estate instructors or owners of real estate schools accredited by
the commission that provide core or continuing education;
One member who represents the public.
The Commission may appoint a non-voting member from the commission.
Appointments to the committee shall be made without regard to the race, color, disability, sex,
religion, age, or national origin of the appointee.
Members of the committee serve two-year terms, expiring on December 31 of each
even-numbered year. A member may serve up to three consecutive terms on the committee,
and may be reappointed after a break in service of at least two years. A member whose term
has expired holds office until the member's successor is appointed. If a vacancy occurs during a
member's term, the commission shall appoint a person to fill the unexpired term.
At a regular meeting in January of each odd-numbered year, the committee shall elect from its
members a presiding officer, assistant presiding officer, and secretary.
Economic Characteristics of Land
Answer:
There are generally four economic characteristics of land: Scarcity Modification Fixity
Situs
Question 7:
Modification
Answer:
Modifications, also called improvements, are man-made developments made to real property.
Modifications greatly influence land use and value. They can be anything from apartments to
airports, schools to sewers, farms to factories.
