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CHAMPIONS PRINCIPLES OF REAL ESTATE 2
(TEXAS) 2025| BRAND NEW ACTUAL EXAM
WITH 100% VERIFIED QUESTIONS AND
CORRECT SOLUTIONS| GUARANTEED VALUE
PACK| ACE YOUR GRADES.
Farm and Ranch brokerage - correct answer - specialize in
"working" farms and ranches.
• Mineral rights
• Water Rights
• Surface leases for grazing and other uses
• Easements
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• Farm and ranch equipment
Certified Commercial Investment Member (CCIM) - correct
answer - designation is a challenging program for commercial real
estate professionals that is regarded as the "gold standard" for
commercial designations.
REO - correct answer - is an acronym that stands for "Real Estate
Owned." When a lending institution becomes the owner of a
property through a foreclosure, the property becomes an asset of
the company.
Short Sale - correct answer - one in which a property with the
consent of the lender, is sold by an owner/borrower at a price that
is not sufficient to pay off the existing mortgage
SCOPE OF LICENSE HOLDER'S AUTHORITY AND BROKER'S
RESPONSIBILITY - correct answer - -A broker is required to
advise a sponsored sales agent of the scope of the sales agent's
authorized activities under the License Act.
-A sponsoring broker is required to create competency standards
for supervised license holders.
CHAMPIONS PRINCIPLES OF REAL ESTATE 2
(TEXAS) 2025| BRAND NEW ACTUAL EXAM
WITH 100% VERIFIED QUESTIONS AND
CORRECT SOLUTIONS| GUARANTEED VALUE
PACK| ACE YOUR GRADES.
Farm and Ranch brokerage - correct answer - specialize in
"working" farms and ranches.
• Mineral rights
• Water Rights
• Surface leases for grazing and other uses
• Easements
, Page | 2
• Farm and ranch equipment
Certified Commercial Investment Member (CCIM) - correct
answer - designation is a challenging program for commercial real
estate professionals that is regarded as the "gold standard" for
commercial designations.
REO - correct answer - is an acronym that stands for "Real Estate
Owned." When a lending institution becomes the owner of a
property through a foreclosure, the property becomes an asset of
the company.
Short Sale - correct answer - one in which a property with the
consent of the lender, is sold by an owner/borrower at a price that
is not sufficient to pay off the existing mortgage
SCOPE OF LICENSE HOLDER'S AUTHORITY AND BROKER'S
RESPONSIBILITY - correct answer - -A broker is required to
advise a sponsored sales agent of the scope of the sales agent's
authorized activities under the License Act.
-A sponsoring broker is required to create competency standards
for supervised license holders.
