Aceable Agent Exam Questions With Complete
Solutions
Apartment |Locators |- |CORRECT |ANSWER✔✔-a |real |estate |license |holder |who |locates |dwelling |
units |for |prospective |tenants
Tenant |- |CORRECT |ANSWER✔✔-one |who |possesses |a |property |under |a |lease |without |
ownership
Broker |- |CORRECT |ANSWER✔✔-someone |who |assists |in |buying |and |selling |to |receive |a |
commission
Client |- |CORRECT |ANSWER✔✔-a |person |or |company |that |buys |or |leases |any |product |or |
service
Land |- |CORRECT |ANSWER✔✔-the |surface |of |the |earth, |extending |down |to |the |center |of |the |
earth |and |up |into |space
Real |Estate |- |CORRECT |ANSWER✔✔-includes |the |land |and |any |natural |or |manmade |
improvements |attached |to |it
Real |Property |- |CORRECT |ANSWER✔✔-includes |land |and |any |natural |or |manmade |
improvements |attached |to |it, |plus |the |bundle |of |legal |rights |of |ownership
Personal |Property |- |CORRECT |ANSWER✔✔-items |that |can |easily |be |removed |from |the |land
, Immobility |- |CORRECT |ANSWER✔✔-characteristic |of |land |stating |that |land |has |a |particular |
geographical |location |that |will |remain |constant, |barring |erosion |or |slow, |geological |changes
Real |Estate |Broker |- |CORRECT |ANSWER✔✔-a |person |or |corporation |who |markets |to |find |
buyers |and |sellers |to |put |together |in |exchange |for |a |commission
Broker's |Price |Opinion |(BPO) |- |CORRECT |ANSWER✔✔-a |broker's |price |opinion |is |the |process |
used |by |a |hired |sales |agent |to |determine |the |potential |selling |price |or |estimated |value |of |a |
real |estate |property
Closing |- |CORRECT |ANSWER✔✔-the |completion |of |a |real |estate |transaction |in |which |the |
buyer |receives |ownership |and |the |seller |receives |the |contract |amount
Comparative |Market |Analysis |(CMA) |- |CORRECT |ANSWER✔✔-a |report |comparing |the |prices |of
|sold |homes |that |are |similar |to |the |subject |property |(called |comparables); |created |by |a |license
|holder |to |help |the |seller |or |buyer |determine |the |market |price
Misrepresentation |- |CORRECT |ANSWER✔✔-a |false |statement |(spoken |or |written) |that |is |made |
unintentionally
Party |- |CORRECT |ANSWER✔✔-a |person |involved |in |a |contract |for |sale, |lease, |or |agency
Commingle |- |CORRECT |ANSWER✔✔-an |illegal |act |of |a |license |holder |who |mixes |their |own |
money |with |a |client's |or |customer's |money
Promulgated |Forms |- |CORRECT |ANSWER✔✔-forms |prepared |and |authorized |by |the |Texas |Real
|Estate |Commission |that |MUST |be |used |by |real |estate |license |holders
Approved |Forms |- |CORRECT |ANSWER✔✔-forms |prepared |and |authorized |by |the |Texas |Real |
Estate |Commission |that |CAN |be |used |by |real |estate |license |holders
Solutions
Apartment |Locators |- |CORRECT |ANSWER✔✔-a |real |estate |license |holder |who |locates |dwelling |
units |for |prospective |tenants
Tenant |- |CORRECT |ANSWER✔✔-one |who |possesses |a |property |under |a |lease |without |
ownership
Broker |- |CORRECT |ANSWER✔✔-someone |who |assists |in |buying |and |selling |to |receive |a |
commission
Client |- |CORRECT |ANSWER✔✔-a |person |or |company |that |buys |or |leases |any |product |or |
service
Land |- |CORRECT |ANSWER✔✔-the |surface |of |the |earth, |extending |down |to |the |center |of |the |
earth |and |up |into |space
Real |Estate |- |CORRECT |ANSWER✔✔-includes |the |land |and |any |natural |or |manmade |
improvements |attached |to |it
Real |Property |- |CORRECT |ANSWER✔✔-includes |land |and |any |natural |or |manmade |
improvements |attached |to |it, |plus |the |bundle |of |legal |rights |of |ownership
Personal |Property |- |CORRECT |ANSWER✔✔-items |that |can |easily |be |removed |from |the |land
, Immobility |- |CORRECT |ANSWER✔✔-characteristic |of |land |stating |that |land |has |a |particular |
geographical |location |that |will |remain |constant, |barring |erosion |or |slow, |geological |changes
Real |Estate |Broker |- |CORRECT |ANSWER✔✔-a |person |or |corporation |who |markets |to |find |
buyers |and |sellers |to |put |together |in |exchange |for |a |commission
Broker's |Price |Opinion |(BPO) |- |CORRECT |ANSWER✔✔-a |broker's |price |opinion |is |the |process |
used |by |a |hired |sales |agent |to |determine |the |potential |selling |price |or |estimated |value |of |a |
real |estate |property
Closing |- |CORRECT |ANSWER✔✔-the |completion |of |a |real |estate |transaction |in |which |the |
buyer |receives |ownership |and |the |seller |receives |the |contract |amount
Comparative |Market |Analysis |(CMA) |- |CORRECT |ANSWER✔✔-a |report |comparing |the |prices |of
|sold |homes |that |are |similar |to |the |subject |property |(called |comparables); |created |by |a |license
|holder |to |help |the |seller |or |buyer |determine |the |market |price
Misrepresentation |- |CORRECT |ANSWER✔✔-a |false |statement |(spoken |or |written) |that |is |made |
unintentionally
Party |- |CORRECT |ANSWER✔✔-a |person |involved |in |a |contract |for |sale, |lease, |or |agency
Commingle |- |CORRECT |ANSWER✔✔-an |illegal |act |of |a |license |holder |who |mixes |their |own |
money |with |a |client's |or |customer's |money
Promulgated |Forms |- |CORRECT |ANSWER✔✔-forms |prepared |and |authorized |by |the |Texas |Real
|Estate |Commission |that |MUST |be |used |by |real |estate |license |holders
Approved |Forms |- |CORRECT |ANSWER✔✔-forms |prepared |and |authorized |by |the |Texas |Real |
Estate |Commission |that |CAN |be |used |by |real |estate |license |holders
