REAL ESTATE PRINCIPLES FINAL EXAM
EDUCATIONAL SUPPORT GUIDE
©The aspect of the real estate business that is concerned with bringing
together the parties and completing the transactions is: - brokerage
©An attorney from another state must have a Texas real estate license to
receive a commission for a real estate transaction in Texas. - true
©all of the following are true about a Texas homestead, except: -
homestead protection can be waived in writing
©ad valorem taxes: - Are according to value, Create the highest priority
lien on real property, Are always paid first at a foreclosure sale
©Which real estate contract is the exception to the Statute of Frauds? - a
lease for one year or less
©Factors that affect homeowners insurance premiums can include which
of the following? - age and condition of the home, location, the
policyholder's claims history
©Which of the following is required for a lot and block description of a
property? - a recorded plat
, ©integrity is best described as: - The duty of a licensee to employ
prudence and caution so as to avoid misrepresentation in any way
©When a holdover tenant refuses to leave and is not paying rent his
interest in the property is called: - tenancy at sufferance
©steering is: - Directing buyers to or away from a particular
neighborhood based on protected categories
©crops are: - emblements
©when a Texas real estate licensee is in inactive status: - he is
responsible for renewal fees
©permanent additions to land are called: - improvements
©When a property owner has the right to use water from a river or
stream that borders his land he is said to have: - riparian rights
©the recovery trust acount: - (a) Protects consumers who suffer a loss
due to the illegal acts of licensees, Has two maximum payment amounts:
$50,000 per transaction and $100,000 per licensee, Must transfer any
amount in excess of $3.5 million to the State's General Fund
EDUCATIONAL SUPPORT GUIDE
©The aspect of the real estate business that is concerned with bringing
together the parties and completing the transactions is: - brokerage
©An attorney from another state must have a Texas real estate license to
receive a commission for a real estate transaction in Texas. - true
©all of the following are true about a Texas homestead, except: -
homestead protection can be waived in writing
©ad valorem taxes: - Are according to value, Create the highest priority
lien on real property, Are always paid first at a foreclosure sale
©Which real estate contract is the exception to the Statute of Frauds? - a
lease for one year or less
©Factors that affect homeowners insurance premiums can include which
of the following? - age and condition of the home, location, the
policyholder's claims history
©Which of the following is required for a lot and block description of a
property? - a recorded plat
, ©integrity is best described as: - The duty of a licensee to employ
prudence and caution so as to avoid misrepresentation in any way
©When a holdover tenant refuses to leave and is not paying rent his
interest in the property is called: - tenancy at sufferance
©steering is: - Directing buyers to or away from a particular
neighborhood based on protected categories
©crops are: - emblements
©when a Texas real estate licensee is in inactive status: - he is
responsible for renewal fees
©permanent additions to land are called: - improvements
©When a property owner has the right to use water from a river or
stream that borders his land he is said to have: - riparian rights
©the recovery trust acount: - (a) Protects consumers who suffer a loss
due to the illegal acts of licensees, Has two maximum payment amounts:
$50,000 per transaction and $100,000 per licensee, Must transfer any
amount in excess of $3.5 million to the State's General Fund
