Texas Real Estate Final Exam (2023/2024) 100% Correct

Texas Real Estate Final Exam (2023/2024) 100% Correct Personal property may become real property by the process of: a. devise. b. reliction. c. attachment. d. alienation. C. Attachment If a property generates a negative cash flow, in order to be an attractive investment to a prospective purchaser: a. there must be a substantial down payment. b. there must be a large depreciable base. c. there must be a substantial increase in property value. d. there must be little deferred maintenance. C. There must be a substantial increase in property value The closed sales price of an income property divided by its gross monthly rent equals the: a. estimated market value. b. capitalization rate. c. gross income multiplier. d. gross rent multiplier D. Gross rent multipier What is 75% of $250,000? a. $187,500 b. $182,500 c. $62,500 d. none of the above A. $187,000 Racial discrimination under the Civil Rights Act of 1866 is enforced by: a. local jurisdiction. b. state court. c. federal court. d. justice of the peace court. C. Federal court Under eminent domain, if the parties cannot agree to property value, which type of lawsuit will be filed by a city to take the property for public use? a. annexation b. injunction c. condemnation d. specific performance C. Condemnation The term that describes the percentage of the appraised value of a property that a lender will finance is called: a. loan-to-value ratio. b. owner's equity. c. certificate of reasonable value. d. capital investment A. Loan-to-Value Abby is purchasing a home with a mortgage loan and is paying for an appraisal of the property. The appraisal is made to determine: a. if Abby got a good deal. b. if the seller had the house priced right. c. if the value of the collateral satisfies the lender's underwriting guidelines for the loan.