THE CE SHOP: 30-HR. TX PRINCIPLES
OF REAL ESTATE II QUESTIONS WITH
CORRECT ANSWERS
nWhat happens when an appraisal comes back lower than the asking price? - 1. They can acknowledge a
fail
2. The buyer can increase the down payment
3. The seller can lower the asking price
4. They can compromise
Real Estate Broker - A person licensed as a broker who performs brokerage activities and collects
compensation
Real Estate Sales Agent - A person who performs real estate activities while associated with a licensed
real estate broker
Licensee - A person holding a valid license
Appraiser - A person holding certification to estimate the value of real property according to
standardized principles of valuation
Home Inspector - A person who is affiliated with a national nonprofit trade association, has passed the
appropriate exam, and evaluates properties for their condition
Lender - A person who arranges financing for the buyer of real property
Developer - A person who constructs improvements on raw land
Subdivider - A person who splits a single property into smaller parcels in preparation for development
Real Estate Investor - A person who puts money or property into a real estate project for profit
Real Estate Attorney - A person who holds a law degree and specializes in real estate; may legally broker
deals
Real Estate Counselor - A person who provides services to help determine viability of a real estate asset
or project
The Leisure Category - Hotels/motels
Golf courses
Resorts
Sporting arenas
, Movie theaters
Restaurants
The Industrial Category - Heavy manufacturing
Light manufacturing
Warehouse & distribution
The Healthcare Category - Hospitals
Urgent care centers
Doctor's offices
The Residential Category - Single-family
Multifamily
Apartment buildings
Condominiums, cooperatives
The Office Building Category - Class A - prestigious
Class B - fair to good
Class C - functional, below average rent
The Retail Category - Neighborhood shopping centers (strip malls)
Regional shopping malls
The Specialty Category - Mixed-Use
Combined retail/residential
Planned Unit
High-density, zoning mix
Transit-Oriented
Near transportation hub
Private Land Controls - Easements, Liens, and Deed Restrictions
Residential Zone - single-family or multi-family including a duplex or a high rise apartment
Accessory Apartment/Accessory Use - An additional property subordinate to the main use of the
property such as an equipment shed or mother-in-law suite
Home Occupation - A residential zone where the residents of the dwelling conduct business out of their
home.
OF REAL ESTATE II QUESTIONS WITH
CORRECT ANSWERS
nWhat happens when an appraisal comes back lower than the asking price? - 1. They can acknowledge a
fail
2. The buyer can increase the down payment
3. The seller can lower the asking price
4. They can compromise
Real Estate Broker - A person licensed as a broker who performs brokerage activities and collects
compensation
Real Estate Sales Agent - A person who performs real estate activities while associated with a licensed
real estate broker
Licensee - A person holding a valid license
Appraiser - A person holding certification to estimate the value of real property according to
standardized principles of valuation
Home Inspector - A person who is affiliated with a national nonprofit trade association, has passed the
appropriate exam, and evaluates properties for their condition
Lender - A person who arranges financing for the buyer of real property
Developer - A person who constructs improvements on raw land
Subdivider - A person who splits a single property into smaller parcels in preparation for development
Real Estate Investor - A person who puts money or property into a real estate project for profit
Real Estate Attorney - A person who holds a law degree and specializes in real estate; may legally broker
deals
Real Estate Counselor - A person who provides services to help determine viability of a real estate asset
or project
The Leisure Category - Hotels/motels
Golf courses
Resorts
Sporting arenas
, Movie theaters
Restaurants
The Industrial Category - Heavy manufacturing
Light manufacturing
Warehouse & distribution
The Healthcare Category - Hospitals
Urgent care centers
Doctor's offices
The Residential Category - Single-family
Multifamily
Apartment buildings
Condominiums, cooperatives
The Office Building Category - Class A - prestigious
Class B - fair to good
Class C - functional, below average rent
The Retail Category - Neighborhood shopping centers (strip malls)
Regional shopping malls
The Specialty Category - Mixed-Use
Combined retail/residential
Planned Unit
High-density, zoning mix
Transit-Oriented
Near transportation hub
Private Land Controls - Easements, Liens, and Deed Restrictions
Residential Zone - single-family or multi-family including a duplex or a high rise apartment
Accessory Apartment/Accessory Use - An additional property subordinate to the main use of the
property such as an equipment shed or mother-in-law suite
Home Occupation - A residential zone where the residents of the dwelling conduct business out of their
home.
