ACEABLE AGENT - PRINCIPLES OF
REAL ESTATE II EXAM 2025/2026
QUESTIONS AND ANSWERS 100% PASS
Formulas to calculate commission? - ANS TOTAL = PART/PERCENTAGE
PART = TOTAL x PERCENTAGE
PERCENTAGE = PART/ TOTAL
What is the term that describes the money that is lent? - ANS PRINCIPAL
Down payment minus earnest money? - ANS CASH TO CLOSE
Loan payment + loan principal? - ANS TOTAL SALES PRICE
Loan points/fees charged 1% to compensate loan officers for underwriting and administering
the loan. - ANS ORIGINATION POINTS
Loan points/fees charged 1% in exchange for a lower interest rate on the loan. -
ANS DISCOUNT POINTS
When is the seller responsible for property taxes? - ANS DAY OF CLOSING
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Ethical code for appraisers? - ANS Uniform Standards of Professional Appraisal Practice
(USPAP)
Who regulates USPAP? - ANS Appraiser Qualifications Board (AQB)
Texas Appraiser Licensing & Certification Board acronym? - ANS TALCB
Qualified to appraise:
-1 to 4 family non-complex residential units, <1 mill
-1 to 4 family residential complex unit, <$250k
-75 add'l education hours
-2000 hours experience over min 1 year
-Assoc Degree or 30 course credit hours - ANS LICENSED RESIDENTIAL APPRAISER
Qualified to appraise:
-1 to 4 residential unit, any value okay
-125 add'l education hours
-2,500 hours experience over min 2 years
-Bach Degree or higher - ANS CERTIFIED RESIDENTIAL APPRAISER
Qualified to appraise:
-any type of property
-225 add'l education hours
-Bach Degree
-3000 hours experience over min 2.5 years
-1/2 experience must be non residential - ANS CERTIFIED GENERAL APPRAISER
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, The value of something is affected by the cost of getting a similar item elsewhere. Similar
properties should have fairly similar values. - ANS PRINCIPLE OF SUBSTITUTION
Values are highest when the houses in a neighborhood look roughly the same. -
ANS PRINCIPLE OF CONFORMITY
A property's overall value is made up of the combined value of each of its parts. The value
added by the improvement could be higher or lower than the expense. - ANS PRINCIPLE OF
CONTRIBUTION
The condition of a property, the desirability of its location, and the market in which it exists can
always change. Appraisals are only good for one month. - ANS PRINCIPLE OF CHANGE
1. state obj
2. list data
3. gather/record data
4. determine highest and best use
5. land value
6. estimate value using applicable approaches
7. final value estimate
8. complete and present report - ANS STEPS TO COMPLETE AN APPRAISEL
What is a "No-reserve" auction? An auction which a minimum acceptable sales price (reserve) is
set. - ANS MINIMUM BID AUCTION
What are 3 ways to calculate value? - ANS 1. SALES COMPARISON APPROACH
2. THE COST APPROACH
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
REAL ESTATE II EXAM 2025/2026
QUESTIONS AND ANSWERS 100% PASS
Formulas to calculate commission? - ANS TOTAL = PART/PERCENTAGE
PART = TOTAL x PERCENTAGE
PERCENTAGE = PART/ TOTAL
What is the term that describes the money that is lent? - ANS PRINCIPAL
Down payment minus earnest money? - ANS CASH TO CLOSE
Loan payment + loan principal? - ANS TOTAL SALES PRICE
Loan points/fees charged 1% to compensate loan officers for underwriting and administering
the loan. - ANS ORIGINATION POINTS
Loan points/fees charged 1% in exchange for a lower interest rate on the loan. -
ANS DISCOUNT POINTS
When is the seller responsible for property taxes? - ANS DAY OF CLOSING
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Ethical code for appraisers? - ANS Uniform Standards of Professional Appraisal Practice
(USPAP)
Who regulates USPAP? - ANS Appraiser Qualifications Board (AQB)
Texas Appraiser Licensing & Certification Board acronym? - ANS TALCB
Qualified to appraise:
-1 to 4 family non-complex residential units, <1 mill
-1 to 4 family residential complex unit, <$250k
-75 add'l education hours
-2000 hours experience over min 1 year
-Assoc Degree or 30 course credit hours - ANS LICENSED RESIDENTIAL APPRAISER
Qualified to appraise:
-1 to 4 residential unit, any value okay
-125 add'l education hours
-2,500 hours experience over min 2 years
-Bach Degree or higher - ANS CERTIFIED RESIDENTIAL APPRAISER
Qualified to appraise:
-any type of property
-225 add'l education hours
-Bach Degree
-3000 hours experience over min 2.5 years
-1/2 experience must be non residential - ANS CERTIFIED GENERAL APPRAISER
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, The value of something is affected by the cost of getting a similar item elsewhere. Similar
properties should have fairly similar values. - ANS PRINCIPLE OF SUBSTITUTION
Values are highest when the houses in a neighborhood look roughly the same. -
ANS PRINCIPLE OF CONFORMITY
A property's overall value is made up of the combined value of each of its parts. The value
added by the improvement could be higher or lower than the expense. - ANS PRINCIPLE OF
CONTRIBUTION
The condition of a property, the desirability of its location, and the market in which it exists can
always change. Appraisals are only good for one month. - ANS PRINCIPLE OF CHANGE
1. state obj
2. list data
3. gather/record data
4. determine highest and best use
5. land value
6. estimate value using applicable approaches
7. final value estimate
8. complete and present report - ANS STEPS TO COMPLETE AN APPRAISEL
What is a "No-reserve" auction? An auction which a minimum acceptable sales price (reserve) is
set. - ANS MINIMUM BID AUCTION
What are 3 ways to calculate value? - ANS 1. SALES COMPARISON APPROACH
2. THE COST APPROACH
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
