Texas Principles of Real Estate Final Exam Practice Questions with
Correct Verified Answers- Latest Update 2025
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
|
Listing |Contract |- |ANSWER |- |Listing |Contract
Properties |with |five |or |more |dwelling |units |are |considered...?
Special |Purpose |Property
|
Commercial |Property
pg. |1
,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...?
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...?
pg. |2
,Principal
All |of |the |above
Customer
|
Escrow |- |ANSWER |- |Principal
The |market |comparison |approach |is |commonly |used |for |this |property
type...? |Mixed-use
|
Industrial
Residentia
|
l
Commercial |- |ANSWER |- |Residential
Land |and |everything |permanently |attached |to |land |is |defined |as...?
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
pg. |3
, 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
Which |of |the |following |is |considered |a |legal |test |for |determining |if |an |item |is |a |fixture |or |not...?
Intention |of |the |parties
|
Mode |and |permanence |of |how |the |item |was |attached
Adaptation |of |the |item
|
All |of |the |above |- |ANSWER |- |All |of |the |Above
The |right |of |exclusion, |which |allows |a |landowner |to |prevent |others |from |entering |or |occupying
|their |property, |is |included |in |the...?
Riparian |Rights
Littoral |Rights
|
Air |Rights
|
Bundle |of |Rights |- |ANSWER |- |Bundle |of |Rights
The |landowner's |ability |to |take |minerals |from |the |earth |or |to |sell |or |lease |this |right |to |others |is
|known |as...?
Bundle |of |Rights
Land |Rights
|
Mineral |rights
|
Air |Rights |- |ANSWER |- |Mineral |Rights
The |transfer |of |personal |property |is |typically |done |using |a...?
Deed
|
Purchase |Contract
pg. |4
Correct Verified Answers- Latest Update 2025
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
|
Listing |Contract |- |ANSWER |- |Listing |Contract
Properties |with |five |or |more |dwelling |units |are |considered...?
Special |Purpose |Property
|
Commercial |Property
pg. |1
,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...?
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...?
pg. |2
,Principal
All |of |the |above
Customer
|
Escrow |- |ANSWER |- |Principal
The |market |comparison |approach |is |commonly |used |for |this |property
type...? |Mixed-use
|
Industrial
Residentia
|
l
Commercial |- |ANSWER |- |Residential
Land |and |everything |permanently |attached |to |land |is |defined |as...?
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
pg. |3
, 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
Which |of |the |following |is |considered |a |legal |test |for |determining |if |an |item |is |a |fixture |or |not...?
Intention |of |the |parties
|
Mode |and |permanence |of |how |the |item |was |attached
Adaptation |of |the |item
|
All |of |the |above |- |ANSWER |- |All |of |the |Above
The |right |of |exclusion, |which |allows |a |landowner |to |prevent |others |from |entering |or |occupying
|their |property, |is |included |in |the...?
Riparian |Rights
Littoral |Rights
|
Air |Rights
|
Bundle |of |Rights |- |ANSWER |- |Bundle |of |Rights
The |landowner's |ability |to |take |minerals |from |the |earth |or |to |sell |or |lease |this |right |to |others |is
|known |as...?
Bundle |of |Rights
Land |Rights
|
Mineral |rights
|
Air |Rights |- |ANSWER |- |Mineral |Rights
The |transfer |of |personal |property |is |typically |done |using |a...?
Deed
|
Purchase |Contract
pg. |4
