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Texas Real Estate Principles 1 Exam Practice Questions, Exams of Real Estate Management

Tarleton State University (TSU)Real Estate Management

Practice questions for the texas real estate principles 1 exam. It covers various topics related to real estate, including property ownership, contracts, agency, appraisal, and more. The questions are multiple-choice and include correct answers, making it a valuable resource for students preparing for the exam.

Typology: Exams

2024/2025

Available from 03/17/2025

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2025 TEXAS PRINCIPLES 1 EXAM
PRACTICE/ACTUAL EXAM QUESTIONS WITH
CORRECT ANSWERS/LATEST UPDATE/A+ GRADE
1. a: Townhomes and single-family homes differ in that a common wall.
(a) townhomes share
(b) single-family homes are sold as distinct living units within
(c) owners of townhomes do not own the land because of
(d) townhomes are retro-commissioned and share
2. a: Rights that are associated with the ownership of real property are often
referred to as the owner's:
(a) Bundle of rights
(b) Constitutional rights
(c) Statutory rights
(d) Civil rights
3. a: The agreement between a broker and a client is most often a(n)
agency relationship.
(a) Special
(b) General
(c) Universal
(d) Sub
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Download Texas Real Estate Principles 1 Exam Practice Questions and more Exams Real Estate Management in PDF only on Docsity!

2025 TEXAS PRINCIPLES 1 EXAM

PRACTICE/ACTUAL EXAM QUESTIONS WITH

CORRECT ANSWERS/LATEST UPDATE/A+ GRADE

  1. a: Townhomes and single-family homes differ in that a common wall. (a) townhomes share (b)single-family homes are sold as distinct living units within (c) owners of townhomes do not own the land because of (d) townhomes are retro-commissioned and share
  2. a: Rights that are associated with the ownership of real property are often referred to as the owner's: (a) Bundle of rights (b)Constitutional rights (c) Statutory rights (d) Civil rights
  3. a: The agreement between a broker and a client is most often a(n) agency relationship. (a) Special (b) General (c) Universal (d) Sub
  1. a: A professional association whose local affiliates own and operate MLS systems throughout the United States is the: (a) NAR (b) CCIM (c) BOMA (d) ICSC
  2. a: The concept behind the government survey system is the of a grid on top of the land. (a) overlay (b)metes and bounds (c) coordinates (d) leaps and bounds
  3. a: You can use the acronym to remember the five essential elements of a valid and enforceable contract. (a) COLIC (contractual capacity, offer and acceptance, legality of object, In writing & signed, and Consideration) (b) COLLIE (c) EOVEC (d) OLDCAR (obedience, loyalty, disclosure, confidentiality, accountability,

(a) Steering (b) Blockbusting (c) Flipping (d) Channeling

  1. b: The practice of directing buyers or renters to or away from a particular area based upon a protected class is known as: (a) Blockbusting (b) (b) Steering (c) Profiteering (d) Panic pedaling
  2. b: The broker and his or her associates are most often in a(n) agency relationship. (a) Special (b) General (c) Universal (d) Sub
  3. b: The characteristics of value of land include all of the following except for... a) Demand b) Taxes c) Utility d) Scarcity e) Transferability
  1. b: When filing a complaint against a license holder, a consumer has from the date of the incident to file a complaint with TREC. (a) 5 years (b) 4 years (c) 2 years (d) 1 year
  2. b: Surface, subsurface and air rights are said to be: (a) Indivisible (b) Severable (c) Divisible (d) Unitary
  3. b: A legal description that contains the words "Beginning at a point" is a: (a) Lot and block description (b)Metes and bounds description (c) Informal reference (d) PLSS description
  4. b: A property contains 103,450 square feet of land. How many acres are in this tract? (a) 43.7 (b) 2.37 (c) 23.7 (d) 3.

(a) subagent (b)intermediary (c) client (d) associate

  1. c: Which of the following is not a factor that can affect insurance premiums? (a) Location (b)Policyholder's claims history (c) Policyholder's age (d)Age and condition of the property
  2. c: One acre of land contains: (a) 23,459 square feet (b) 640 square feet (c) 43,560 square feet (d) 1 square mile
  3. c: Dwayne and Beth, each single persons, own a parcel of land as joint tenants. Beth has a will leaving her entire estate to her brother, Jason. Upon Beth's death, her interest in the land passes to: (a) Jason, because he was named in the will (b) Jason, because he is her brother (c) Dwayne, because he is a joint tenant (d)None of these
  4. c: Jill and Adkins are married and live in Texas. They saved for a number

of years and purchased a home. In this case, the form of ownership is most likely to be: (a) Separate property (b) Joint property (c) Community property (d) Tenants in common

  1. c: 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
  2. c: Seller Steve listed his property with City Realty, Acme Realty and Countrywide Realty all at the same time. After signing the listing agreements, Steve continued to run for sale by owner ads on Craigslist. The type of listing agreement Steve signed with the various companies is a(n): (a) Exclusive Right to Sell (b)Exclusive Agency Agreement (c) (c) Open Listing (d) Net Listing
  3. c: Appraisal is the business of:

and/or: (a) A fine(b) A reprimand(c) License suspension or revocation (d) Any of these

  1. d: The commission shall maintain a recovery trust account that. (a) protects consumers who suffer a loss due to illegal acts of license holders (b) has two maximum payment amounts - $50,000 and $100,000(c) is funded by license holders and applicants(d) all of these are correct
  2. d: Air rights are commonly leased or conveyed in: (a) Cell tower leases(b) Condominiums(c) Outdoor advertising
  3. (d) All of these are correct
  4. d: Three co-owners wish to divide their undivided interests in a property into individually owned tracts of land. This process is known as a(n). (a) Alienation (b) Lawsuit (c) Waiver (d) Partition
  5. d: In order to be valid, a lease must have which of the following requirements? (a) Competent parties (lessor and lessee)

(b) Consideration (rent) (c) Legal purpose (d) All of these are correct

  1. d: Which of the following is required to obtain a real estate license in Texas? (a) An applicant must show competency by passing the exam (b) An applicant must be a resident of Texas at the time of application (c) An applicant must be of good moral character (d) All of the above
  2. d: Competence is the obligation of a real estate agent to: (a) Be informed on conditions affecting the real estate market(b) Be involved in continuing education courses in topics regarding real estate (c) Exercise judgment and skill in the performance of his or her work (d) All of these are correct
  3. d: A consideration is defined as. (a) an offer(b) a counteroffer(c) a bribe (d) something given in exchange for a promise
  4. d: While listing the property with you, the seller asks "Who sets real