Texas Real Estate Principles 1 (Practice Exam) QUESTIONS WITH COMPLETE SOLUTIONS
Courses for the renewal of an active real estate broker or sales agent license are called correct answer: continuing education (CE) What is the maximum amount that the Commission will pay from the real estate recovery trust account for claims against any one license holder, until the account has been repaid in full by the license holder? correct answer: $100,000 Which is owned by the tenant? correct answer: a trade fixture Which of the following terms refers not only to the surface of the earth but also below to the center of the earth, above to infinity, and natural things permanently attached but does NOT refer to artificial things permanently attached? correct answer: land If the court learns that the seller placed a sign that said "Not Included" on the stove every time a buyer looked at the property, the court will consider which of the following in determining whether the stove is a fixture, absent a written agreement? correct answer: Intention of the parties What type of estate is complete ownership and exists for an unlimited time? correct answer: fee
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