PRINCIPLES OF REAL ESTATE 2
CHAMPIONS EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2025 - 2026
A tenant who fails to move out when the lease expires, -
ANSWERS-Holdover tenant -
An estate where there is possession, but not ownership -
ANSWERS-Leasehold estate -
defines the rights and obligations of both landlord and
tenant in the leasing of residential and commercial
properties. - ANSWERS-The Landlord and Tenant Act
,Which of the following defines the rights and obligations of
both landlord and tenant in the leasing of residential and
commercial properties?
a. Statute of Frauds
b. Landlord and Tenant Act
c. Federal Fair Housing Act
d. TREC statutes - ANSWERS-b. Landlord and Tenant Act
A(n) _______ is a lease of property where the landlord pays
charges regularly incurred in ownership, such as taxes,
insurance, utilities, and repairs. The tenant pays only rent.
a. Graduated lease
b. Net lease
c. Lease and take back
d. Gross lease - ANSWERS-d. Gross lease
A _______ is an agreement that conveys the right to use
property for a period of time.
a. Deed
,b. Warranty deed
c. Lease
d. Life estate - ANSWERS-c. Lease
A building certification program for properties
that are "green" - ANSWERS-LEED
Servicing a property and its equipment in order
to prevent mechanical failure and keep property
values high - ANSWERS-Preventive maintenance
value is maximized when there is a reasonable degree of
homogeneity, or sameness, in a neighborhood. - ANSWERS-
principle of conformity
reduction in value of property from causes such as
deterioration or obsolescence. - ANSWERS-Depreciation
1. Physical deterioration
2. functional obsolesce
3. external obsolesce - ANSWERS-Types of depreciation
, the loss in a property's value due to daily wear and tear. -
ANSWERS-Physical deterioration
The legal procedure under which property
may be sold to satisfy an unpaid promissory
note - ANSWERS-Foreclosure
the value of a commodity is influenced by the cost of
acquiring a substitute or comparable item. - ANSWERS-
principle of substitution
appraisal - ANSWERS-someones opinion of value.
The actual age of the property in years. - ANSWERS-
Chronological Age
The appraiser's estimate of the age of the house based upon
its ongoing maintenance and upgrades. - ANSWERS-Effective
Age
TYPES OF APPRAISAL REVIEWS - ANSWERS-1. Desk Review
CHAMPIONS EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2025 - 2026
A tenant who fails to move out when the lease expires, -
ANSWERS-Holdover tenant -
An estate where there is possession, but not ownership -
ANSWERS-Leasehold estate -
defines the rights and obligations of both landlord and
tenant in the leasing of residential and commercial
properties. - ANSWERS-The Landlord and Tenant Act
,Which of the following defines the rights and obligations of
both landlord and tenant in the leasing of residential and
commercial properties?
a. Statute of Frauds
b. Landlord and Tenant Act
c. Federal Fair Housing Act
d. TREC statutes - ANSWERS-b. Landlord and Tenant Act
A(n) _______ is a lease of property where the landlord pays
charges regularly incurred in ownership, such as taxes,
insurance, utilities, and repairs. The tenant pays only rent.
a. Graduated lease
b. Net lease
c. Lease and take back
d. Gross lease - ANSWERS-d. Gross lease
A _______ is an agreement that conveys the right to use
property for a period of time.
a. Deed
,b. Warranty deed
c. Lease
d. Life estate - ANSWERS-c. Lease
A building certification program for properties
that are "green" - ANSWERS-LEED
Servicing a property and its equipment in order
to prevent mechanical failure and keep property
values high - ANSWERS-Preventive maintenance
value is maximized when there is a reasonable degree of
homogeneity, or sameness, in a neighborhood. - ANSWERS-
principle of conformity
reduction in value of property from causes such as
deterioration or obsolescence. - ANSWERS-Depreciation
1. Physical deterioration
2. functional obsolesce
3. external obsolesce - ANSWERS-Types of depreciation
, the loss in a property's value due to daily wear and tear. -
ANSWERS-Physical deterioration
The legal procedure under which property
may be sold to satisfy an unpaid promissory
note - ANSWERS-Foreclosure
the value of a commodity is influenced by the cost of
acquiring a substitute or comparable item. - ANSWERS-
principle of substitution
appraisal - ANSWERS-someones opinion of value.
The actual age of the property in years. - ANSWERS-
Chronological Age
The appraiser's estimate of the age of the house based upon
its ongoing maintenance and upgrades. - ANSWERS-Effective
Age
TYPES OF APPRAISAL REVIEWS - ANSWERS-1. Desk Review
