ACEABLE AGENT PRINCIPLES OF REAL ESTATE
2 EXAMPREP 2026 FULL QUESTIONS AND
SOLUTIONS STUDY SET
◍ Tenant - one who possesses (rents) real property for a period of time,
usually under a lease. The property or estate is normally owned by the
landlord.
◍ Broker - Someone who assists in buying and selling to receive a
commission
◍ Client - The person that an agent is representing, made official
through a representation documents.
◍ Sales Agent Apprentice Education (SAE) - an educational
requirement for courses in the first two years of being licensed as a real
estate agent
◍ Consumer - A person or company that buys or leases any product or
service
,◍ Land - the surface of the earth, extending down to the center of the
earth and up into space.
◍ Real Estate - included the land and any natural or manmade
improvements attached to it.
◍ Real Property - items that can easily be removed from the land.
◍ Immobility - Characteristic of land stating that land has a particular
geographic location that will remain constant, barring erosion or slow,
geological changes.
◍ Real Estate Broker - A person or corporation who markets to find
buyers and sellers to put together in exchange for a commission.
◍ Broker's Price Opinion (BPO) - A broker' 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 - the completion of a real estate transaction in which the
buyer receives ownership and the seller received the contract amount.
◍ Comparative Market Analysis (CMA) - a report comparing the prices
of sold homes that are similar to the subject property; is created by a
license holder to help the seller or buyer determine the market price
, ◍ Misrepresentation - a false (spoken or written) that is made
unintentionally.
◍ Party - a person involved in a contract for sale, lease or agency.
◍ Commingle - an illegal act of a license holder who mixes their own
money with a client's or customers money.
◍ Promulgated Forms - forms prepared and authorized by TREC that
MUST be used by RE license holders.
◍ Approved Forms - forms prepared and authorized by TREC that CAN
be used by RE license holders.
◍ Cloud on the Title - An encumbrance that keeps the title to the
property from transferring easily
◍ Puffing - The exaggeration of opinions about real estate
◍ Nolo Contendere - a plea by which a defendant in a criminal
prosecution accepts conviction as though a guilty plea had been entered
but does not admit guilt.
2 EXAMPREP 2026 FULL QUESTIONS AND
SOLUTIONS STUDY SET
◍ Tenant - one who possesses (rents) real property for a period of time,
usually under a lease. The property or estate is normally owned by the
landlord.
◍ Broker - Someone who assists in buying and selling to receive a
commission
◍ Client - The person that an agent is representing, made official
through a representation documents.
◍ Sales Agent Apprentice Education (SAE) - an educational
requirement for courses in the first two years of being licensed as a real
estate agent
◍ Consumer - A person or company that buys or leases any product or
service
,◍ Land - the surface of the earth, extending down to the center of the
earth and up into space.
◍ Real Estate - included the land and any natural or manmade
improvements attached to it.
◍ Real Property - items that can easily be removed from the land.
◍ Immobility - Characteristic of land stating that land has a particular
geographic location that will remain constant, barring erosion or slow,
geological changes.
◍ Real Estate Broker - A person or corporation who markets to find
buyers and sellers to put together in exchange for a commission.
◍ Broker's Price Opinion (BPO) - A broker' 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 - the completion of a real estate transaction in which the
buyer receives ownership and the seller received the contract amount.
◍ Comparative Market Analysis (CMA) - a report comparing the prices
of sold homes that are similar to the subject property; is created by a
license holder to help the seller or buyer determine the market price
, ◍ Misrepresentation - a false (spoken or written) that is made
unintentionally.
◍ Party - a person involved in a contract for sale, lease or agency.
◍ Commingle - an illegal act of a license holder who mixes their own
money with a client's or customers money.
◍ Promulgated Forms - forms prepared and authorized by TREC that
MUST be used by RE license holders.
◍ Approved Forms - forms prepared and authorized by TREC that CAN
be used by RE license holders.
◍ Cloud on the Title - An encumbrance that keeps the title to the
property from transferring easily
◍ Puffing - The exaggeration of opinions about real estate
◍ Nolo Contendere - a plea by which a defendant in a criminal
prosecution accepts conviction as though a guilty plea had been entered
but does not admit guilt.
