Champions School of Real Estate

This document features 100 fully solved real estate financing exam questions and answers, tailored for the 2025/2026 academic year. It offers a complete, well-organized study resource designed to help students master essential concepts in U.S. real estate finance. Structured in a Q&A format, the content provides detailed explanations that make complex financial topics accessible and exam-ready. Key topics include: Types of mortgages (e.g., fixed-rate, adjustable-rate, package, blanket, ope...

An agency relationship exists when one person, the ______________ acts for, or on the behalf of another person, the _____________________. Agent, principal Which of the following is ground for suspension or revocation of license by TREC? Splitting commission with a person other than a license holder The commission can deny licensure to an applicant based on the applicants? Moral character What form must an agent provide to a potential client at the first substantive discu...

Functional obsolescence Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison best indicator of value for existing properties highest and best use the legal use for property that gives the greatest return in money and/or amenities external obsolescence the loss in value of a property caused by factors outside the property itself principle of contribution suggests the value of a property is equal...