TEXAS PRINCIPLES OF REAL ESTATE
1- QUIZ QUESTIONS & ANSWERS
RATED 100% CORRECT
Special Agent - correct answer ✔✔A real estate agent is an example of what type of agent...?
Universal Agent
General Agent
Special Agent
Specific Agent
Market Comparison Approach - correct answer ✔✔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
Listing Contract - correct answer ✔✔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
Commercial Property - correct answer ✔✔Properties with five or more dwelling units are
considered...?
Special Purpose Property
Commercial Property
Industrial Property
Residential Property
Supply - correct answer ✔✔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
All of the Above - correct answer ✔✔The general uses of real property include which of the
following...?
Residential
Industrial
Commercial
All of the above
,The Salesperson's Sponsoring Broker - correct answer ✔✔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
General Agent - correct answer ✔✔A property manager is an example of what type of agent...?
Universal Agent
Specific Agent
General Agent
Special Agent
Principal - correct answer ✔✔The employer of an agent is known as the...?
Principal
All of the above
Customer
Escrow
Residential - correct answer ✔✔The market comparison approach is commonly used for this
property type...?
Mixed-use
Industrial
, Residential
Commercial
Real Estate - correct answer ✔✔Land and everything permanently attached to land is defined
as...?
Bundle of Rights
Real Property
Fixture
Real Estate
Personal Property - correct answer ✔✔All property that is not land and is not permanently
attached to land is known as...?
Personal Property
Real Property
Real Estate
Fixture
Personal Property - correct answer ✔✔A refrigerator is typically considered...?
Fixture
Real Property
Personal Property
Emblements
1- QUIZ QUESTIONS & ANSWERS
RATED 100% CORRECT
Special Agent - correct answer ✔✔A real estate agent is an example of what type of agent...?
Universal Agent
General Agent
Special Agent
Specific Agent
Market Comparison Approach - correct answer ✔✔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
Listing Contract - correct answer ✔✔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
Commercial Property - correct answer ✔✔Properties with five or more dwelling units are
considered...?
Special Purpose Property
Commercial Property
Industrial Property
Residential Property
Supply - correct answer ✔✔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
All of the Above - correct answer ✔✔The general uses of real property include which of the
following...?
Residential
Industrial
Commercial
All of the above
,The Salesperson's Sponsoring Broker - correct answer ✔✔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
General Agent - correct answer ✔✔A property manager is an example of what type of agent...?
Universal Agent
Specific Agent
General Agent
Special Agent
Principal - correct answer ✔✔The employer of an agent is known as the...?
Principal
All of the above
Customer
Escrow
Residential - correct answer ✔✔The market comparison approach is commonly used for this
property type...?
Mixed-use
Industrial
, Residential
Commercial
Real Estate - correct answer ✔✔Land and everything permanently attached to land is defined
as...?
Bundle of Rights
Real Property
Fixture
Real Estate
Personal Property - correct answer ✔✔All property that is not land and is not permanently
attached to land is known as...?
Personal Property
Real Property
Real Estate
Fixture
Personal Property - correct answer ✔✔A refrigerator is typically considered...?
Fixture
Real Property
Personal Property
Emblements
