PRINCIPLES OF REAL ESTATE 1- CHAMPIONS SCHOOL OF REAL ESTATE PRINCIPLES OF REAL ESTATE 1- CHAMPIONS SCHOOL OF REAL ESTATE

PRINCIPLES OF REAL ESTATE 1- CHAMPIONS SCHOOL OF
REAL ESTATE 2024-2025

A freeway has made commuting to a distant suburban
neighborhood easier, resulting in an increase in new home
sales. This increase in sales is an example of the economic
characteristic of
A.) scarcity
B.) Fixity
C.) Situs
D.) Modification - ANSWER ->D.) Modification

The supply of Real Estate is affected by
A.) Land cost
B.) Building codes
C.) Government regulations
D.) All of these - ANSWER ->D.) All of these

The least important factor affecting demand for real estate is:
A.) Population Growth
B.) Personal Preference
C.) Availability of Credit
D.) Transportation Systems - ANSWER ->B.) 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 judges decision in the case was most
likely based upon:
A.) Statutory Law

,B.) Civil Law
C.) Common Law
D.) Local ordinance - ANSWER ->C.) 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 Texas Real Estate License Act. This decision of the judge was
based upon:
A.) Statutory law
B.) Civil Law
C.) Common Law
D.) Local Ordinance - ANSWER ->A.) Statutory Law

RMLOs in Texas are licensed through:
A.) Texas Real Estate Commission
B.) National Mortgage Bankers Association
C.) Texas Department of Savings and Mortgage Lending
D.) Texas savings and loan board - ANSWER ->C.) Texas
Department of Savings and Mortgage Lending

A Freeway has made commuting to a distant suburban
neighborhood easier, resulting in an increase in new home
sales. This increase in sales is an example of the economic
characteristics of:
A.) Scarcity
B.) Fixity
C.) Situs
D.) Modification - ANSWER ->D.) Modification

, Air Rights are commonly leased or conveyed in:
A.) Cell tower leases
B.) Condominiums
C.) Outdoor Advertising
D.) All of these are correct - ANSWER ->D) all of these

Building, roads and fences are all examples of:
A.) Personal Property
B.) Private Property
C.) Improvements
D.) Public Property - ANSWER ->C.) Improvements

If a tenant fails to remove trade fixtures from the leased
premises, the fixtures become the property of the landlord
through:
A.) Remediation
B.) Adverse Possession
C.) Accession
D.) Descent - ANSWER ->C.) Accession

Effective in 1976, manufactured homes have been built
according to a building code administered by:
A.) Local building departments
B.) State code enforcement
C.) HUD
D.) FHA - ANSWER ->C.) HUD