, Champions - Principles of Real Estate I
EXAM QUESTIONS AND ANSWERS 100%
CORRECT!
Appraisal is the business of: - ANSWER Providing a professional opinion of the value of
real property
A professional association whose local affiliates own and operate MLS systems
throughout the United States is the: - ANSWER NAR
RMLOs in Texas are licensed through - ANSWER Texas Department of Savings and
Mortgage Lending
Indestructibility, a physical characteristic of land, is also known as: - ANSWER
Durability
A freeway has made commuting to a distant suburban neighborhood easier, resulting in
an increase in new home sales. The increase in sales is an example of the economic
characteristic of: - ANSWER Modification
The supply of real estate is affected by: - ANSWER land cost, building codes,
government regulation
The least important factor affecting demand for real estate is: - ANSWER Personal
preference
A lawsuit was tried on a real estate matter. The judge ruled in the case, citing the
decision of a judge in a similar case that was tried ten years ago. The judge's decision
in the case was most likely based upon: - ANSWER Common law
A license holder was tried in a state district court on a complaint arising from a real
estate transaction. The court ruled that, among other transgressions, the defendant had
violated the TRELA. This decision of the judge was based upon: - ANSWER Statutory
law
Rights that are associated with the ownership of real property are often referred to as
the owner's: - ANSWER Bundle of rights
EXAM QUESTIONS AND ANSWERS 100%
CORRECT!
Appraisal is the business of: - ANSWER Providing a professional opinion of the value of
real property
A professional association whose local affiliates own and operate MLS systems
throughout the United States is the: - ANSWER NAR
RMLOs in Texas are licensed through - ANSWER Texas Department of Savings and
Mortgage Lending
Indestructibility, a physical characteristic of land, is also known as: - ANSWER
Durability
A freeway has made commuting to a distant suburban neighborhood easier, resulting in
an increase in new home sales. The increase in sales is an example of the economic
characteristic of: - ANSWER Modification
The supply of real estate is affected by: - ANSWER land cost, building codes,
government regulation
The least important factor affecting demand for real estate is: - ANSWER Personal
preference
A lawsuit was tried on a real estate matter. The judge ruled in the case, citing the
decision of a judge in a similar case that was tried ten years ago. The judge's decision
in the case was most likely based upon: - ANSWER Common law
A license holder was tried in a state district court on a complaint arising from a real
estate transaction. The court ruled that, among other transgressions, the defendant had
violated the TRELA. This decision of the judge was based upon: - ANSWER Statutory
law
Rights that are associated with the ownership of real property are often referred to as
the owner's: - ANSWER Bundle of rights
