Texas Real Estate Exam 2025
An insurance policy which combines personal liability insurance and hazard insurance coverage for a
dwelling and its contents is called - Answer-homeowner's insurance
What is the status of a contract when all of the terms have been fulfilled and the transaction has been
closed? - Answer-fully executed
Surface Rights, Air Rights, and Subsurface Rights are all rights that can be sold by a property owner while
still retaining the property itself. These rights are known as: - Answer-severable rights
When an easement allows the use of a neighboring property which automatically transfers upon the
sale of either dominant or servient property, it is called what type of easement? - Answer-Easement
Appurtenant
Linda purchased a fee simple interest for the private use of a residential property for one week every
single year. What did Linda purchase? - Answer-resort timeshare
What is the highest form of land ownership which includes the full and complete bundle of property
rights? - Answer-fee simple absolute
What type of ownership would allow two or more owners to have various unequal percentages of
ownership? - Answer-Tenancy in common
, Tenancy in Severalty is best described as: - Answer-One property owner
Which of the following is NOT one of the four land use controls? - Answer-Intestate
What is the general purpose for cities to acquire building permits? - Answer-to require a minimum level
of construction standards
The interest rate banks charge to their preferred customers is called: - Answer-the prime rate
The city of Brownwood plans to build a new water treatment facility but the land that is required is
privately owned. Eminent domain allows the city to: - Answer-Take possession of the land against the
owner's wishes, yet the owner must be compensated
When the appraised value of a property is given, it is based on: - Answer-Comparable sales
Agent Brook is preparing for a listing appointment and has gathered information to prepare a report of
recent market data for the seller to review. The report agents reconcile to obtain a reasonable list price
for a property based on current listings, recent sales, and expireds would be called: - Answer-
Comparative Market Analysis
Paul owns an older residential property in an area now zoned for commercial use. Paul decides to
renovate the home into a laundry mat. The change in the properties functionality for Paul's financial
gain is an example of what: - Answer-highest and best use
Jon's Tire Store is being built across the street from Big Bob's Tires. What appraisal principle describes
this situation? - Answer-competition
An insurance policy which combines personal liability insurance and hazard insurance coverage for a
dwelling and its contents is called - Answer-homeowner's insurance
What is the status of a contract when all of the terms have been fulfilled and the transaction has been
closed? - Answer-fully executed
Surface Rights, Air Rights, and Subsurface Rights are all rights that can be sold by a property owner while
still retaining the property itself. These rights are known as: - Answer-severable rights
When an easement allows the use of a neighboring property which automatically transfers upon the
sale of either dominant or servient property, it is called what type of easement? - Answer-Easement
Appurtenant
Linda purchased a fee simple interest for the private use of a residential property for one week every
single year. What did Linda purchase? - Answer-resort timeshare
What is the highest form of land ownership which includes the full and complete bundle of property
rights? - Answer-fee simple absolute
What type of ownership would allow two or more owners to have various unequal percentages of
ownership? - Answer-Tenancy in common
, Tenancy in Severalty is best described as: - Answer-One property owner
Which of the following is NOT one of the four land use controls? - Answer-Intestate
What is the general purpose for cities to acquire building permits? - Answer-to require a minimum level
of construction standards
The interest rate banks charge to their preferred customers is called: - Answer-the prime rate
The city of Brownwood plans to build a new water treatment facility but the land that is required is
privately owned. Eminent domain allows the city to: - Answer-Take possession of the land against the
owner's wishes, yet the owner must be compensated
When the appraised value of a property is given, it is based on: - Answer-Comparable sales
Agent Brook is preparing for a listing appointment and has gathered information to prepare a report of
recent market data for the seller to review. The report agents reconcile to obtain a reasonable list price
for a property based on current listings, recent sales, and expireds would be called: - Answer-
Comparative Market Analysis
Paul owns an older residential property in an area now zoned for commercial use. Paul decides to
renovate the home into a laundry mat. The change in the properties functionality for Paul's financial
gain is an example of what: - Answer-highest and best use
Jon's Tire Store is being built across the street from Big Bob's Tires. What appraisal principle describes
this situation? - Answer-competition
