320 Terms in this set
Social Science Economics
The CE Shop Principles of Real Estate I Exam Review Questions &
Answers Latest Update
Terms in this set (320)
In most markets, in which month would a November
real estate downcycle typically start?
You have a listing agreement with Sam, Client
which makes him your _ _.
Who has the ultimate responsibility for the The sales agent, and the sales agent's broker
sales agent's actions in Texas?
Licensee Dionne pointed out to her buyer Permanently affixed to the property
client the items in the house she was
showing that would be considered real
property. One of the key determinants,
she explained, was whether the item were
_______.
The seller of property that may be subject Private transfer fee obligation
to a private transfer fee must provide the
prospective buyer with this written notice.
Which term would you most likely see Littoral
associated with a lake?
In order for a lease for real estate to be More than one year
enforceable, it must be in writing and
signed by the person to be charged with
the promise/agreement, or by someone
who is legally authorized to sign for that
person. This requirement applies to a
lease with a term of _ _.
,320 Terms in this set
Ginnie's Aunt Becca listed the old family Ginnie and Becca must mutually agree to terminate the agreement
mansion with Ginnie. Ginnie put it on the
market for Becca, but then she and her
cousins talked with Becca and decided
they wanted to keep the property in the
family. What's the best way to terminate
the agreement?
In Texas, a real estate licensee doesn't The licensee negotiates for the consumer while acting as the consumer's broker or
have to have any additional licenses to sales agent
sell manufactured homes as long as
_________________.
The ESAC makes recommendations to The Texas Real Estate Commission
which agency?
What must a licensee do regarding Disclose the interest to all parties to the transaction.
property the licensee holds directly or
indirectly if it becomes the subject of a
real estate transaction?
Which of the following is NOT a Corporations are tangible and nontaxable
characteristic of a corporation?
When working with a client on a real Special
estate sale, a real estate licensee is
usually acting as which type of agent?
Your client submits an application to rent Fair Housing Amendments Act of 1988
a condo unit. He has excellent credit and
been in the same job for a long time. He
uses a cane to help him with mobility.
When his application is rejected, he feels
it's due to his disability. He is protected
under ___ _.
Homestead exemptions ___ property Decrease
taxes for all homeowners by protecting a
certain amount of a Texas home's value
from tax.
Which stage of the real estate cycle is Depression
considered the bottom?
According to the Uniform Electronic Both parties agree to conduct the transaction electronically
Transactions Act and the Uniform Real
Property Electronic Recording Act of
2005, when are electronic transactions
legally enforceable?
To protect the public by requiring certain education, training, and standards of
What is the purpose of licensing?
licensees
Juan has decided to invest his small Improvements
inheritance in real estate. He is drawn to
the fact that he can add a building where
there wasn't one previously and
immediately increase the value of his
investment. Which economic
characteristic of real property is this?
, 320 Terms in this set
A legally competent party means that an Mentally
individual has the capacity, legally and
_ _ , to enter into a contract.
Social Science Economics
The CE Shop Principles of Real Estate I Exam Review Questions &
Answers Latest Update
Terms in this set (320)
In most markets, in which month would a November
real estate downcycle typically start?
You have a listing agreement with Sam, Client
which makes him your _ _.
Who has the ultimate responsibility for the The sales agent, and the sales agent's broker
sales agent's actions in Texas?
Licensee Dionne pointed out to her buyer Permanently affixed to the property
client the items in the house she was
showing that would be considered real
property. One of the key determinants,
she explained, was whether the item were
_______.
The seller of property that may be subject Private transfer fee obligation
to a private transfer fee must provide the
prospective buyer with this written notice.
Which term would you most likely see Littoral
associated with a lake?
In order for a lease for real estate to be More than one year
enforceable, it must be in writing and
signed by the person to be charged with
the promise/agreement, or by someone
who is legally authorized to sign for that
person. This requirement applies to a
lease with a term of _ _.
,320 Terms in this set
Ginnie's Aunt Becca listed the old family Ginnie and Becca must mutually agree to terminate the agreement
mansion with Ginnie. Ginnie put it on the
market for Becca, but then she and her
cousins talked with Becca and decided
they wanted to keep the property in the
family. What's the best way to terminate
the agreement?
In Texas, a real estate licensee doesn't The licensee negotiates for the consumer while acting as the consumer's broker or
have to have any additional licenses to sales agent
sell manufactured homes as long as
_________________.
The ESAC makes recommendations to The Texas Real Estate Commission
which agency?
What must a licensee do regarding Disclose the interest to all parties to the transaction.
property the licensee holds directly or
indirectly if it becomes the subject of a
real estate transaction?
Which of the following is NOT a Corporations are tangible and nontaxable
characteristic of a corporation?
When working with a client on a real Special
estate sale, a real estate licensee is
usually acting as which type of agent?
Your client submits an application to rent Fair Housing Amendments Act of 1988
a condo unit. He has excellent credit and
been in the same job for a long time. He
uses a cane to help him with mobility.
When his application is rejected, he feels
it's due to his disability. He is protected
under ___ _.
Homestead exemptions ___ property Decrease
taxes for all homeowners by protecting a
certain amount of a Texas home's value
from tax.
Which stage of the real estate cycle is Depression
considered the bottom?
According to the Uniform Electronic Both parties agree to conduct the transaction electronically
Transactions Act and the Uniform Real
Property Electronic Recording Act of
2005, when are electronic transactions
legally enforceable?
To protect the public by requiring certain education, training, and standards of
What is the purpose of licensing?
licensees
Juan has decided to invest his small Improvements
inheritance in real estate. He is drawn to
the fact that he can add a building where
there wasn't one previously and
immediately increase the value of his
investment. Which economic
characteristic of real property is this?
, 320 Terms in this set
A legally competent party means that an Mentally
individual has the capacity, legally and
_ _ , to enter into a contract.
