AYPO REAL ESTATE TEST 1QUESTIONS & ANSWERS
Disparate impact - Answers-A set of criteria which are not directly targeted at a specific
group but will disproportionately affect that group.
What purpose is served by regulating real estate licensing? - Answers-1. prtect the
eneral public during real estate transactions from dishonest or incompetent brokers and
sales agents.
2. maintain high standards or the real estate profession
3. set out minimum standards and qualifications for licensing brokers and sales agents.
The seller must provide the buyer with a disclosure statement in the statutorily required
form, which includes? - Answers-1. Underground storage tanks
2. the condition of all major appliances, systems, and services
3. the general condition of the property, including basement and roof leaks
Mortgages are a common type of ________ lein. - Answers-consensual
What are the five duties owned by a fiduciary? - Answers-1. Care
2. Discosure, confidenciality
3. Loyalty
4. accounting
5. obedience
Texas Landowners Bill of Rights includes. - Answers-1. adequate compensation if your
property is condemned
2. your property can only be condemned for a public use.
3. your property can only be condemned by a gov entity
4. entity must notify you
6. said entity must provide you written appraisal
6. You can file a written complaint to trec
7. must make. a bona fide offer.
8. you may hire your own appraiser
9. you may hire an attorney
10. you're entitlled to a hearing
11. you've a right to trial
Joint tenancy is ended when - Answers-Unity of time ends
The commission may require a license holder whose license suspension or revocation
is probated to do what - Answers-Limit practice to an area prescribed by the
commission
After racial discrimination in housing was ruled unconstitutional, a mechanism used to
get around this ruling was ? - Answers-Restrictive covenant
.
, What is associated with metes and bounds measurements - Answers-Call, Courses,
monuments
What is the remedy called when one party has made a good faith effort to perform their
obliations under a contract and the other party has NOT perfored their obliations? -
Answers-Specific performance.
What is the term for the ability of the states to regulate the citizen's behavior and
enforce order within their jurisdictions for the betterment of the health, safety, morals,
and general welfare of their inhabitants? - Answers-Police power
A manufactured home can be considered real property under which circumstances -
Answers-1. The owner of the home has elected to treat the home as their real property.
2. both the texas department of housing and community affairs and the homes county's
chief tax appraiser have been notified of the filing
3. A certified copy of the "Statement of ownership and location" for the home has ben
filed by the owner in thee real property records of the county where the home is located.
Who determines the salaries of the executive director, officers, and employees of the
commission? - Answers-The commission.
Applicants who are rejected for credit must be notified in writing of the basic reasons for
the denial of their application, and the reason for their credit rating when? - Answers-
within 30 days
Which kind of easement not only allows access to anothe persons property but also
allows the removal of aterial resources contained in the property? - Answers-A profit
An educational institution shall maintain a corporate surety bond or other security
acceptable to the commission that is in the amount of - Answers-20,000
What type of property category includes churches, other places of worship, schools and
colleges, cemeteries and certain government-held properties? - Answers-Special-
Purpose
The practice wherein consumers of protected classes are directed to certain
neighborhoods when shopping for housing is called - Answers-Steering
what is the purpose of real estate licensing laws? - Answers-1. to set out minimum
standards and qualifications for licensing brokers and sales agents
2. to protect licensed brokers and sales agents from unfair or improper competition.
3. To protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
Disparate impact - Answers-A set of criteria which are not directly targeted at a specific
group but will disproportionately affect that group.
What purpose is served by regulating real estate licensing? - Answers-1. prtect the
eneral public during real estate transactions from dishonest or incompetent brokers and
sales agents.
2. maintain high standards or the real estate profession
3. set out minimum standards and qualifications for licensing brokers and sales agents.
The seller must provide the buyer with a disclosure statement in the statutorily required
form, which includes? - Answers-1. Underground storage tanks
2. the condition of all major appliances, systems, and services
3. the general condition of the property, including basement and roof leaks
Mortgages are a common type of ________ lein. - Answers-consensual
What are the five duties owned by a fiduciary? - Answers-1. Care
2. Discosure, confidenciality
3. Loyalty
4. accounting
5. obedience
Texas Landowners Bill of Rights includes. - Answers-1. adequate compensation if your
property is condemned
2. your property can only be condemned for a public use.
3. your property can only be condemned by a gov entity
4. entity must notify you
6. said entity must provide you written appraisal
6. You can file a written complaint to trec
7. must make. a bona fide offer.
8. you may hire your own appraiser
9. you may hire an attorney
10. you're entitlled to a hearing
11. you've a right to trial
Joint tenancy is ended when - Answers-Unity of time ends
The commission may require a license holder whose license suspension or revocation
is probated to do what - Answers-Limit practice to an area prescribed by the
commission
After racial discrimination in housing was ruled unconstitutional, a mechanism used to
get around this ruling was ? - Answers-Restrictive covenant
.
, What is associated with metes and bounds measurements - Answers-Call, Courses,
monuments
What is the remedy called when one party has made a good faith effort to perform their
obliations under a contract and the other party has NOT perfored their obliations? -
Answers-Specific performance.
What is the term for the ability of the states to regulate the citizen's behavior and
enforce order within their jurisdictions for the betterment of the health, safety, morals,
and general welfare of their inhabitants? - Answers-Police power
A manufactured home can be considered real property under which circumstances -
Answers-1. The owner of the home has elected to treat the home as their real property.
2. both the texas department of housing and community affairs and the homes county's
chief tax appraiser have been notified of the filing
3. A certified copy of the "Statement of ownership and location" for the home has ben
filed by the owner in thee real property records of the county where the home is located.
Who determines the salaries of the executive director, officers, and employees of the
commission? - Answers-The commission.
Applicants who are rejected for credit must be notified in writing of the basic reasons for
the denial of their application, and the reason for their credit rating when? - Answers-
within 30 days
Which kind of easement not only allows access to anothe persons property but also
allows the removal of aterial resources contained in the property? - Answers-A profit
An educational institution shall maintain a corporate surety bond or other security
acceptable to the commission that is in the amount of - Answers-20,000
What type of property category includes churches, other places of worship, schools and
colleges, cemeteries and certain government-held properties? - Answers-Special-
Purpose
The practice wherein consumers of protected classes are directed to certain
neighborhoods when shopping for housing is called - Answers-Steering
what is the purpose of real estate licensing laws? - Answers-1. to set out minimum
standards and qualifications for licensing brokers and sales agents
2. to protect licensed brokers and sales agents from unfair or improper competition.
3. To protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
