PRINCIPLES OF REAL ESTATE 1 UPDATED
ACTUAL EXAM QUESTIONS AND CORRECT
ANSWERS COMPLETE STUDY GUIDE
●● The supply of Real Estate is affected by
A.) Land cost
B.) Building codes
C.) Government regulations
D.) All of these
Answer: D.) All of these
●● The least important factor affecting demand for real estate is:
A.) Population Growth
B.) Personal Preference
C.) Availability of Credit
D.) Transportation Systems
Answer: B.) Personal Preference
●● A lawsuit was tried on a real estate matter. The judge ruled in the
case, citing the decision of a judge in a similar case that was tried ten
years ago. The judges decision in the case was most likely based upon:
A.) Statutory Law
,B.) Civil Law
C.) Common Law
D.) Local ordinance
Answer: C.) Common Law
●● A license holder was tried in a state district court on a complaint
arising from a real estate transaction. The court ruled that, among other
transgressions, the defendant had violated the Texas Real Estate License
Act. This decision of the judge was based upon:
A.) Statutory law
B.) Civil Law
C.) Common Law
D.) Local Ordinance
Answer: A.) Statutory Law
●● RMLOs in Texas are licensed through:
A.) Texas Real Estate Commission
B.) National Mortgage Bankers Association
C.) Texas Department of Savings and Mortgage Lending
D.) Texas savings and loan board
Answer: C.) Texas Department of Savings and Mortgage Lending
, ●● A Freeway has made commuting to a distant suburban neighborhood
easier, resulting in an increase in new home sales. This increase in sales
is an example of the economic characteristics of:
A.) Scarcity
B.) Fixity
C.) Situs
D.) Modification
Answer: D.) Modification
●● Air Rights are commonly leased or conveyed in:
A.) Cell tower leases
B.) Condominiums
C.) Outdoor Advertising
D.) All of these are correct
Answer: D) all of these
●● Building, roads and fences are all examples of:
A.) Personal Property
B.) Private Property
C.) Improvements
D.) Public Property
Answer: C.) Improvements
ACTUAL EXAM QUESTIONS AND CORRECT
ANSWERS COMPLETE STUDY GUIDE
●● The supply of Real Estate is affected by
A.) Land cost
B.) Building codes
C.) Government regulations
D.) All of these
Answer: D.) All of these
●● The least important factor affecting demand for real estate is:
A.) Population Growth
B.) Personal Preference
C.) Availability of Credit
D.) Transportation Systems
Answer: B.) Personal Preference
●● A lawsuit was tried on a real estate matter. The judge ruled in the
case, citing the decision of a judge in a similar case that was tried ten
years ago. The judges decision in the case was most likely based upon:
A.) Statutory Law
,B.) Civil Law
C.) Common Law
D.) Local ordinance
Answer: C.) Common Law
●● A license holder was tried in a state district court on a complaint
arising from a real estate transaction. The court ruled that, among other
transgressions, the defendant had violated the Texas Real Estate License
Act. This decision of the judge was based upon:
A.) Statutory law
B.) Civil Law
C.) Common Law
D.) Local Ordinance
Answer: A.) Statutory Law
●● RMLOs in Texas are licensed through:
A.) Texas Real Estate Commission
B.) National Mortgage Bankers Association
C.) Texas Department of Savings and Mortgage Lending
D.) Texas savings and loan board
Answer: C.) Texas Department of Savings and Mortgage Lending
, ●● A Freeway has made commuting to a distant suburban neighborhood
easier, resulting in an increase in new home sales. This increase in sales
is an example of the economic characteristics of:
A.) Scarcity
B.) Fixity
C.) Situs
D.) Modification
Answer: D.) Modification
●● Air Rights are commonly leased or conveyed in:
A.) Cell tower leases
B.) Condominiums
C.) Outdoor Advertising
D.) All of these are correct
Answer: D) all of these
●● Building, roads and fences are all examples of:
A.) Personal Property
B.) Private Property
C.) Improvements
D.) Public Property
Answer: C.) Improvements
