TEXAS PRINCIPLES OF REAL
ESTATE 1 FINAL EXAM,
PRACTICE EXAM AND STUDY
GUIDE NEWEST ALL IN ONE
DOCUMENT COMPLETE
COURSE 160 QUESTIONS AND
ANSWERS (2025/2026)
Abstract
This document covers the complete exam preparation material for Texas Principles of
Real Estate 1, including all 160 questions and their correct answers. It provides
definitions, key concepts, and exam-relevant terminology across agency, contracts,
finance, valuation, investment, and urban economics. The content functions as a full
study guide and practice exam designed to support comprehensive course review and
final-exam readiness. It is aligned with the newest 2024 material and structured to
support fast learning and self-testing.
Prof Morris
For more info:
,Question 1
Agent
Correct Answer
the party authorized to conduct business on the principal's behalf
Question 2
Agency
Correct Answer
a legal relationship between a principal and an agent
Question 3
Blockbusting
Correct Answer
the illegal practice of encouraging property owners to sell their homes when minorities
begin moving into an area
Question 4
Broker
Correct Answer
an intermediary who brings together buyers and sellers, assists in negotiating agreements
between them, executes their orders, and receives compensation for services rendered
Question 5
Buyer Representation Agreement
Correct Answer
the legal agreement between a buyer and a broker hired to represent the buyer's interest
Question 6
Buyer's Agent
Correct Answer
a broker who is legally obligated to represent a buyer's interest
Question 7
Commission Agreement
Correct Answer
an agreement between a seller and broker for the payment of a commission if the broker is
successful in locating a buyer for the seller's property
Question 8
Dual Agent
Correct Answer
an agent who attempts to work in the best interest of two parties on opposing sides of a
transaction
For more info:
, Question 9
Exclusive-Brokerage Listing
Correct Answer
an agreement between a property owner and a single broker authorizing that broker to seek
a buyer for the property in exchange for compensation
Question 10
Fair Housing Laws
Correct Answer
laws that protect the rights of certain citizens in housing transactions
Question 11
Fiduciary
Correct Answer
a person who is obligated to act in the best interest of another
Question 12
Fraud
Correct Answer
a false statement made with the intention to mislead, that is material to a transaction, that is
justifiably relied on by a client, and that results in injury to the client
Question 13
Limited-service listing
Correct Answer
an agreement between a property owner/seller that authorizes a broker to perform certain
tasks to seek a buyer for the property
Question 14
Listing Agreement
Correct Answer
the legal agreement between a broker and a property owner that authorizes the broker to
attempt to sell the property
Question 15
LISTING BROKER
Correct Answer
the broker who negotiates the listing agreement with the seller
Question 16
MISREPRESENTATION
Correct Answer
a false statement that is material to a transaction, that is justifiably relied upon by a client,
and that results in injury to the client
For more info:
ESTATE 1 FINAL EXAM,
PRACTICE EXAM AND STUDY
GUIDE NEWEST ALL IN ONE
DOCUMENT COMPLETE
COURSE 160 QUESTIONS AND
ANSWERS (2025/2026)
Abstract
This document covers the complete exam preparation material for Texas Principles of
Real Estate 1, including all 160 questions and their correct answers. It provides
definitions, key concepts, and exam-relevant terminology across agency, contracts,
finance, valuation, investment, and urban economics. The content functions as a full
study guide and practice exam designed to support comprehensive course review and
final-exam readiness. It is aligned with the newest 2024 material and structured to
support fast learning and self-testing.
Prof Morris
For more info:
,Question 1
Agent
Correct Answer
the party authorized to conduct business on the principal's behalf
Question 2
Agency
Correct Answer
a legal relationship between a principal and an agent
Question 3
Blockbusting
Correct Answer
the illegal practice of encouraging property owners to sell their homes when minorities
begin moving into an area
Question 4
Broker
Correct Answer
an intermediary who brings together buyers and sellers, assists in negotiating agreements
between them, executes their orders, and receives compensation for services rendered
Question 5
Buyer Representation Agreement
Correct Answer
the legal agreement between a buyer and a broker hired to represent the buyer's interest
Question 6
Buyer's Agent
Correct Answer
a broker who is legally obligated to represent a buyer's interest
Question 7
Commission Agreement
Correct Answer
an agreement between a seller and broker for the payment of a commission if the broker is
successful in locating a buyer for the seller's property
Question 8
Dual Agent
Correct Answer
an agent who attempts to work in the best interest of two parties on opposing sides of a
transaction
For more info:
, Question 9
Exclusive-Brokerage Listing
Correct Answer
an agreement between a property owner and a single broker authorizing that broker to seek
a buyer for the property in exchange for compensation
Question 10
Fair Housing Laws
Correct Answer
laws that protect the rights of certain citizens in housing transactions
Question 11
Fiduciary
Correct Answer
a person who is obligated to act in the best interest of another
Question 12
Fraud
Correct Answer
a false statement made with the intention to mislead, that is material to a transaction, that is
justifiably relied on by a client, and that results in injury to the client
Question 13
Limited-service listing
Correct Answer
an agreement between a property owner/seller that authorizes a broker to perform certain
tasks to seek a buyer for the property
Question 14
Listing Agreement
Correct Answer
the legal agreement between a broker and a property owner that authorizes the broker to
attempt to sell the property
Question 15
LISTING BROKER
Correct Answer
the broker who negotiates the listing agreement with the seller
Question 16
MISREPRESENTATION
Correct Answer
a false statement that is material to a transaction, that is justifiably relied upon by a client,
and that results in injury to the client
For more info:
