AYPO REAL ESTATE PRINCIPLES OF REAL ESTATE I EXAM STUDY GUIDE
QUESTIONS AND 100% VERIFIED ANSWERS (NEWEST
Under TRELA, TREC can suspend or even cancel a broker's license if:
ANSWER They engage in the illegal practice of law
ESAC is an acronym for: The advisory committee for ANSWER Education
Standards
What does a place mean from an economic perspective instead of a geographic
one? ANSWER Situs.
Which amendment ensures that a citizen won't lose their property without
following the required legal procedures? The Fifth Amendment.
The ANSWER Consumer Financial Protection Bureau is the CFPB.
A professional association or organization is typically a non-profit entity that
aims to: ANSWER advance a specific profession and the interests of those
working in that profession.
ANSWER A recession is a contraction or general slowdown of the economy.
What is the main objective of regulations pertaining to real estate licensing?
ANSWER 1. To shield the public from dishonest or inept sales representatives
and brokers during real estate transactions.
2. To specify the minimal requirements and credentials for sales agents and
brokers with licenses.
3. To shield sales representatives and licensed brokers from unfair or
inappropriate competition.
Information or materials created or assembled by the commission in conjunction
with a complaint, investigation, or audit may be released in accordance with
1101.2051(b): - A response to the complaint's respondent.
Which kind of property category includes cemeteries, schools, colleges,
churches, and other places of worship, as well as some properties owned by the
government? Special-purpose, is the answer.
, Which of the following best describes an element? ANSWER Trees,
uncultivated vegetation, and plants that can be harvested.
A manufactured house may be regarded as real property if: ANSWER 1. The
filing has been reported to the chief tax appraiser for the residence's county as
well as the Texas Department of Housing and Community Affairs.
2. A certified copy of the home's "Statement of ownership and location" has
been submitted by the owner to the county's real estate records.
3. The home's owner has made the decision to consider it as their real estate.
The primary cause of relocation is: ANSWER Employment opportunity
How much may a first-time homebuyer take out of their own IRA to make the
purchase without incurring a tax penalty? $10,000 ANSWER
Which of the following coverages is included in the majority of Texas
homeowner's insurance plans, according to the Texas Department of Insurance?
The first response is loss of usage.
2. Payments for medical care.
3. Residency.
A consumer can learn about a property's claims history for up to seven years via
a C.L.U.E. report.
ANSWER Land was the only type of property that could be owned until the
condominium concept was introduced.
Which of the following describes the person to whom all definitions of the
terms agent and agency apply? (Best response.) ANSWER carries out a task or
series of tasks on behalf of another person.
Which of the following is required of an appointed licensee? ANSWER Not
revealing that a seller would take less than the asking price
Which of the following satisfies the compensation criteria of Section 1101.806
of the TRELA? ANSWER The party to be charged signed the written
commitment to pay.
Several real estate brokerages would be guilty of ANSWER price fixing if they
set a uniform 6% commission for their agents.
Which of the following describes fiduciary duties under common law?
ANSWER Accounting, obedience, loyalty, care, and disclosure
QUESTIONS AND 100% VERIFIED ANSWERS (NEWEST
Under TRELA, TREC can suspend or even cancel a broker's license if:
ANSWER They engage in the illegal practice of law
ESAC is an acronym for: The advisory committee for ANSWER Education
Standards
What does a place mean from an economic perspective instead of a geographic
one? ANSWER Situs.
Which amendment ensures that a citizen won't lose their property without
following the required legal procedures? The Fifth Amendment.
The ANSWER Consumer Financial Protection Bureau is the CFPB.
A professional association or organization is typically a non-profit entity that
aims to: ANSWER advance a specific profession and the interests of those
working in that profession.
ANSWER A recession is a contraction or general slowdown of the economy.
What is the main objective of regulations pertaining to real estate licensing?
ANSWER 1. To shield the public from dishonest or inept sales representatives
and brokers during real estate transactions.
2. To specify the minimal requirements and credentials for sales agents and
brokers with licenses.
3. To shield sales representatives and licensed brokers from unfair or
inappropriate competition.
Information or materials created or assembled by the commission in conjunction
with a complaint, investigation, or audit may be released in accordance with
1101.2051(b): - A response to the complaint's respondent.
Which kind of property category includes cemeteries, schools, colleges,
churches, and other places of worship, as well as some properties owned by the
government? Special-purpose, is the answer.
, Which of the following best describes an element? ANSWER Trees,
uncultivated vegetation, and plants that can be harvested.
A manufactured house may be regarded as real property if: ANSWER 1. The
filing has been reported to the chief tax appraiser for the residence's county as
well as the Texas Department of Housing and Community Affairs.
2. A certified copy of the home's "Statement of ownership and location" has
been submitted by the owner to the county's real estate records.
3. The home's owner has made the decision to consider it as their real estate.
The primary cause of relocation is: ANSWER Employment opportunity
How much may a first-time homebuyer take out of their own IRA to make the
purchase without incurring a tax penalty? $10,000 ANSWER
Which of the following coverages is included in the majority of Texas
homeowner's insurance plans, according to the Texas Department of Insurance?
The first response is loss of usage.
2. Payments for medical care.
3. Residency.
A consumer can learn about a property's claims history for up to seven years via
a C.L.U.E. report.
ANSWER Land was the only type of property that could be owned until the
condominium concept was introduced.
Which of the following describes the person to whom all definitions of the
terms agent and agency apply? (Best response.) ANSWER carries out a task or
series of tasks on behalf of another person.
Which of the following is required of an appointed licensee? ANSWER Not
revealing that a seller would take less than the asking price
Which of the following satisfies the compensation criteria of Section 1101.806
of the TRELA? ANSWER The party to be charged signed the written
commitment to pay.
Several real estate brokerages would be guilty of ANSWER price fixing if they
set a uniform 6% commission for their agents.
Which of the following describes fiduciary duties under common law?
ANSWER Accounting, obedience, loyalty, care, and disclosure
