Page | 1
TEXAS PRINCIPLES OF REAL
ESTATE 1 FINAL EXAM, PRACTICE
EXAM AND STUDY GUIDE NEWEST
2025 ALL IN ONE DOCUMENT
COMPLETE COURSE 160
QUESTIONS AND ANSWERS✓
A real estate agent is an example of what type of agent...?
Universal Agent
General Agent
Special Agent
Specific Agent
AnswerQuestion: :
Special Agent
Question: 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
, Page | 2
Question: 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
Question: Properties with five or more dwelling units are considered...?
Special Purpose Property
Commercial Property
Industrial Property
Residential Property
Answer:
Commercial Property
Question: 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
, Page | 3
Answer:
Supply
Question: The general uses of real property include which of the following...?
Residential
Industrial
Commercial
All of the above
Answer:
All of the Above
Question: 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
Question: A property manager is an example of what type of agent...?
Universal Agent
Specific Agent
General Agent
, Page | 4
Special Agent
Answer:
General Agent
Question: The employer of an agent is known as the...?
Principal
All of the above
Customer
Escrow
Answer:
Principal
Question: The market comparison approach is commonly used for this
property type...?
Mixed-use
Industrial
Residential
Commercial
Answer:
Residential
Question: Land and everything permanently attached to land is defined as...?
Bundle of Rights
Real Property
TEXAS PRINCIPLES OF REAL
ESTATE 1 FINAL EXAM, PRACTICE
EXAM AND STUDY GUIDE NEWEST
2025 ALL IN ONE DOCUMENT
COMPLETE COURSE 160
QUESTIONS AND ANSWERS✓
A real estate agent is an example of what type of agent...?
Universal Agent
General Agent
Special Agent
Specific Agent
AnswerQuestion: :
Special Agent
Question: 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
, Page | 2
Question: 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
Question: Properties with five or more dwelling units are considered...?
Special Purpose Property
Commercial Property
Industrial Property
Residential Property
Answer:
Commercial Property
Question: 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
, Page | 3
Answer:
Supply
Question: The general uses of real property include which of the following...?
Residential
Industrial
Commercial
All of the above
Answer:
All of the Above
Question: 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
Question: A property manager is an example of what type of agent...?
Universal Agent
Specific Agent
General Agent
, Page | 4
Special Agent
Answer:
General Agent
Question: The employer of an agent is known as the...?
Principal
All of the above
Customer
Escrow
Answer:
Principal
Question: The market comparison approach is commonly used for this
property type...?
Mixed-use
Industrial
Residential
Commercial
Answer:
Residential
Question: Land and everything permanently attached to land is defined as...?
Bundle of Rights
Real Property
