Texas Real Estate Exam Module 1 with all Correct & 100%
Verified Answers |Actual Complete Update |Already
Graded A+
What are the various brokerage specializations within real estate? ✔Correct Answer-
residential, commercial, industrial, agricultural, and mixed-use.
Price ✔Correct Answer-the amount paid for a property (sales price)
Value ✔Correct Answer-based on objective and subjective factors. Subjective value is affected
by the perception of the individual
The business of bringing together people interested in making a real estate transaction is known
as a ✔Correct Answer-brokerage
The broker acts as an ____________ of the buyer or the seller (or both) in negotiating the sale,
purchase, or rental of a property ✔Correct Answer-agent
A ___________ is a license holder employed by or associated with a broker who conducts
brokerage activities on behalf of the broker. ✔Correct Answer-sales agent
The main objective of the Education Standards Advisory Committee (ESAC) is to _____________
curriculum standards, course content requirements, and instructor certification requirements.
✔Correct Answer-review and revise
The committee consists of ________ members who have been actively practicing real estate for
at least five years before appointment. ✔Correct Answer-seven
Real estate market cycles ✔Correct Answer-1. Expansion equals growth 2. Recession equals
slowdown 3. Depression equals the bottom 4. Revival equals recovery
Demand factors that influence real estate ✔Correct Answer-a) Population b) Demographics c)
Employment levels d) Wage levels
Economic characteristics of Real Estate ✔Correct Answer-Relative Scarcity, Improvements,
Permanence of Investment, Area Preference
Area Preference is also known as... ✔Correct Answer-situs
Physical Characteristics of Real Estate ✔Correct Answer-Immobility, Indestructibility, and
Nonhomogeneity
, Sources of law that affect the ownership and transfer of real estate ✔Correct Answer-US
Constitution, Laws passed by Congress, state, and local legislative bodies, Common law based
on past court cases, laws affecting real estate practice
NAR ✔Correct Answer-largest real estate trade organization is the National Association of
REALTORS® (NAR), founded in 1908. Only members of NAR may be called REALTORS
T/F The first real estate license law was passed in California in 1919 ✔Correct Answer-True
TREC is composed of ✔Correct Answer-nine members (six brokers and three public members)
The TREC term length is ✔Correct Answer-six-year staggered terms
Land is defined as ✔Correct Answer-the earth's surface extending downward to the center of
the earth and upward to infinity
Land includes the following ✔Correct Answer-Surface rights, Sub-Surface rights, air rights,
vertical lease
Vertical lease ✔Correct Answer-would allow the property owner to lease all three rights
(mineral, surface, and air) to different tenants
Personal property (chattel) ✔Correct Answer-All property that is not real property is movable,
is not permanently attached to the land, and must be included in the purchase contract to
transfer with the property.
Trees, perennial shrubbery, and grasses that do not require annual cultivation and are
considered real estate are known as ✔Correct Answer-fructus naturales
Emblements, also known as Fructus industrials are ✔Correct Answer-annually cultivated crops
such as fruit, vegetables, and grain. considered personal property
An object that was once personal property that has been attached to an improvement to
become real property ✔Correct Answer-A fixture
Residential ✔Correct Answer-Single family, duplex, triplex, and fourplex
Town houses ✔Correct Answer-Similar to single-family houses, Separated by a party wall (fire
wall), breezeway (air space), Ownership of the land
Condominium ✔Correct Answer-Ownership of the unit (cube of air), Undivided interest in the
land, Shared interest in common elements, halls, and elevator
Verified Answers |Actual Complete Update |Already
Graded A+
What are the various brokerage specializations within real estate? ✔Correct Answer-
residential, commercial, industrial, agricultural, and mixed-use.
Price ✔Correct Answer-the amount paid for a property (sales price)
Value ✔Correct Answer-based on objective and subjective factors. Subjective value is affected
by the perception of the individual
The business of bringing together people interested in making a real estate transaction is known
as a ✔Correct Answer-brokerage
The broker acts as an ____________ of the buyer or the seller (or both) in negotiating the sale,
purchase, or rental of a property ✔Correct Answer-agent
A ___________ is a license holder employed by or associated with a broker who conducts
brokerage activities on behalf of the broker. ✔Correct Answer-sales agent
The main objective of the Education Standards Advisory Committee (ESAC) is to _____________
curriculum standards, course content requirements, and instructor certification requirements.
✔Correct Answer-review and revise
The committee consists of ________ members who have been actively practicing real estate for
at least five years before appointment. ✔Correct Answer-seven
Real estate market cycles ✔Correct Answer-1. Expansion equals growth 2. Recession equals
slowdown 3. Depression equals the bottom 4. Revival equals recovery
Demand factors that influence real estate ✔Correct Answer-a) Population b) Demographics c)
Employment levels d) Wage levels
Economic characteristics of Real Estate ✔Correct Answer-Relative Scarcity, Improvements,
Permanence of Investment, Area Preference
Area Preference is also known as... ✔Correct Answer-situs
Physical Characteristics of Real Estate ✔Correct Answer-Immobility, Indestructibility, and
Nonhomogeneity
, Sources of law that affect the ownership and transfer of real estate ✔Correct Answer-US
Constitution, Laws passed by Congress, state, and local legislative bodies, Common law based
on past court cases, laws affecting real estate practice
NAR ✔Correct Answer-largest real estate trade organization is the National Association of
REALTORS® (NAR), founded in 1908. Only members of NAR may be called REALTORS
T/F The first real estate license law was passed in California in 1919 ✔Correct Answer-True
TREC is composed of ✔Correct Answer-nine members (six brokers and three public members)
The TREC term length is ✔Correct Answer-six-year staggered terms
Land is defined as ✔Correct Answer-the earth's surface extending downward to the center of
the earth and upward to infinity
Land includes the following ✔Correct Answer-Surface rights, Sub-Surface rights, air rights,
vertical lease
Vertical lease ✔Correct Answer-would allow the property owner to lease all three rights
(mineral, surface, and air) to different tenants
Personal property (chattel) ✔Correct Answer-All property that is not real property is movable,
is not permanently attached to the land, and must be included in the purchase contract to
transfer with the property.
Trees, perennial shrubbery, and grasses that do not require annual cultivation and are
considered real estate are known as ✔Correct Answer-fructus naturales
Emblements, also known as Fructus industrials are ✔Correct Answer-annually cultivated crops
such as fruit, vegetables, and grain. considered personal property
An object that was once personal property that has been attached to an improvement to
become real property ✔Correct Answer-A fixture
Residential ✔Correct Answer-Single family, duplex, triplex, and fourplex
Town houses ✔Correct Answer-Similar to single-family houses, Separated by a party wall (fire
wall), breezeway (air space), Ownership of the land
Condominium ✔Correct Answer-Ownership of the unit (cube of air), Undivided interest in the
land, Shared interest in common elements, halls, and elevator
