©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM
Texas Principles of Real Estate 1: Quiz
Questions with Correct Answers
A real estate agent is an example of what type of agent...?
Universal Agent
General Agent
Special Agent
Specific Agent - Answer✔️✔️-Special Agent
A means of comparing similar type properties, which have recently sold, to the subject
property is known as the...?
Cost Approach
Assessment Approach
Income Approach
Market Comparison Approach - Answer✔️✔️-Market Comparison Approach
A contract in which a property owner employs a real estate broker to market the
property described in the contract is known as the...
Agency Disclosure Contract
Purchase and Sales Contract
Closing Contract
Page | 1
, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM
Listing Contract - Answer✔️✔️-Listing Contract
Properties with five or more dwelling units are considered...?
Special Purpose Property
Commercial Property
Industrial Property
Residential Property - Answer✔️✔️-Commercial Property
The amount of goods offered for sale within a given market at a given price during a
given time period is known as...
Demand
GDP
Supply
None of the above - Answer✔️✔️-Supply
The general uses of real property include which of the following...?
Residential
Industrial
Commercial
All of the above - Answer✔️✔️-All of the Above
If a real estate salesperson closes on a transaction, who pays the salesperson their
commission...?
Page | 2
, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM
The Buyer
The salesperson's sponsoring broker
Whatever is stated in the listing agreement
The Seller - Answer✔️✔️-The Salesperson's Sponsoring Broker
A property manager is an example of what type of agent...?
Universal Agent
Specific Agent
General Agent
Special Agent - Answer✔️✔️-General Agent
The employer of an agent is known as the...?
Principal
All of the above
Customer
Escrow - Answer✔️✔️-Principal
The market comparison approach is commonly used for this property type...?
Mixed-use
Industrial
Residential
Commercial - Answer✔️✔️-Residential
Land and everything permanently attached to land is defined as...?
Page | 3
, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM
Bundle of Rights
Real Property
Fixture
Real Estate - Answer✔️✔️-Real Estate
A refrigerator is typically considered...?
Fixture
Real Property
Personal Property
Emblements - Answer✔️✔️-Personal Property
All property that is not land and is not permanently attached to land is known as...?
Personal Property
Real Property
Real Estate
Fixture - Answer✔️✔️-Personal Property
Mineral rights are typically considered dominant to which of the following rights...?
Sub-surface rights
None of the above
Air rights
Surface rights - Answer✔️✔️-Surface Rights
Page | 4
Texas Principles of Real Estate 1: Quiz
Questions with Correct Answers
A real estate agent is an example of what type of agent...?
Universal Agent
General Agent
Special Agent
Specific Agent - Answer✔️✔️-Special Agent
A means of comparing similar type properties, which have recently sold, to the subject
property is known as the...?
Cost Approach
Assessment Approach
Income Approach
Market Comparison Approach - Answer✔️✔️-Market Comparison Approach
A contract in which a property owner employs a real estate broker to market the
property described in the contract is known as the...
Agency Disclosure Contract
Purchase and Sales Contract
Closing Contract
Page | 1
, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM
Listing Contract - Answer✔️✔️-Listing Contract
Properties with five or more dwelling units are considered...?
Special Purpose Property
Commercial Property
Industrial Property
Residential Property - Answer✔️✔️-Commercial Property
The amount of goods offered for sale within a given market at a given price during a
given time period is known as...
Demand
GDP
Supply
None of the above - Answer✔️✔️-Supply
The general uses of real property include which of the following...?
Residential
Industrial
Commercial
All of the above - Answer✔️✔️-All of the Above
If a real estate salesperson closes on a transaction, who pays the salesperson their
commission...?
Page | 2
, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM
The Buyer
The salesperson's sponsoring broker
Whatever is stated in the listing agreement
The Seller - Answer✔️✔️-The Salesperson's Sponsoring Broker
A property manager is an example of what type of agent...?
Universal Agent
Specific Agent
General Agent
Special Agent - Answer✔️✔️-General Agent
The employer of an agent is known as the...?
Principal
All of the above
Customer
Escrow - Answer✔️✔️-Principal
The market comparison approach is commonly used for this property type...?
Mixed-use
Industrial
Residential
Commercial - Answer✔️✔️-Residential
Land and everything permanently attached to land is defined as...?
Page | 3
, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM
Bundle of Rights
Real Property
Fixture
Real Estate - Answer✔️✔️-Real Estate
A refrigerator is typically considered...?
Fixture
Real Property
Personal Property
Emblements - Answer✔️✔️-Personal Property
All property that is not land and is not permanently attached to land is known as...?
Personal Property
Real Property
Real Estate
Fixture - Answer✔️✔️-Personal Property
Mineral rights are typically considered dominant to which of the following rights...?
Sub-surface rights
None of the above
Air rights
Surface rights - Answer✔️✔️-Surface Rights
Page | 4
