CHAMPIONS REAL ESTATE
COMPREHENSIVE STUDY GUIDE 2026
FULLY SOLVED QUESTION SET
◉Supply and demand. Answer: high demand=low inventory, price
increases
Low Demand=high inventory, price decreases
◉Supply is restricted by. Answer: Land costs
construction
taxation
economics
building and zoning ordinances
Growth policies of cities
◉Demand is affected by. Answer: Growth in employment
transportation systems
personal preference
availability in credit
Federal Govt policy
,◉Value is affected by. Answer: Federal income Tax policy
supply of money
monetary policy of fed reserve
interest rates
◉Local economic cycles and RE values are affected by. Answer:
Availability of employment
population trends
availability of trained workforce
local govt policy
◉Agency Law. Answer: Relationship between parties to a
transaction-salesperson, brokers and others.
Level of service provided by presence or lack of agency agreement
with broker
◉Contract Law. Answer: License holder understands elements of a
contract
Assist in creation of a valid and enforceable agreement
Understand different forms of property ownership
◉Common Law. Answer: Law based on common sense and local
custom
, ◉Statutory law. Answer: Law and regulation enacted by federal and
state legislation
◉TRELA-Texas Real Estate Licencing Act. Answer: Protects public
against unscrupulous broker and agents
◉TREC Texas Real Estate Commission. Answer: created in 1949
9 member commission, appointed by governor, serves 6 year term, 6
members are RE brokers, 3 Members are public
◉Appraisal. Answer: Providing a professional opinion of the value of
real propery
◉RMLO's in TX are licensed through the. Answer: Texas Dept of
Savings and Mortgage Lending
◉Land. Answer: Surface of the earth extending to the center and
upward above the surface to infinity, includes natural things-trees,
crops and water
◉Real Estate. Answer: all that is encompassed in land, with the
addition of all man-made additions to the land, such as roads, houses
and commercial buildings
COMPREHENSIVE STUDY GUIDE 2026
FULLY SOLVED QUESTION SET
◉Supply and demand. Answer: high demand=low inventory, price
increases
Low Demand=high inventory, price decreases
◉Supply is restricted by. Answer: Land costs
construction
taxation
economics
building and zoning ordinances
Growth policies of cities
◉Demand is affected by. Answer: Growth in employment
transportation systems
personal preference
availability in credit
Federal Govt policy
,◉Value is affected by. Answer: Federal income Tax policy
supply of money
monetary policy of fed reserve
interest rates
◉Local economic cycles and RE values are affected by. Answer:
Availability of employment
population trends
availability of trained workforce
local govt policy
◉Agency Law. Answer: Relationship between parties to a
transaction-salesperson, brokers and others.
Level of service provided by presence or lack of agency agreement
with broker
◉Contract Law. Answer: License holder understands elements of a
contract
Assist in creation of a valid and enforceable agreement
Understand different forms of property ownership
◉Common Law. Answer: Law based on common sense and local
custom
, ◉Statutory law. Answer: Law and regulation enacted by federal and
state legislation
◉TRELA-Texas Real Estate Licencing Act. Answer: Protects public
against unscrupulous broker and agents
◉TREC Texas Real Estate Commission. Answer: created in 1949
9 member commission, appointed by governor, serves 6 year term, 6
members are RE brokers, 3 Members are public
◉Appraisal. Answer: Providing a professional opinion of the value of
real propery
◉RMLO's in TX are licensed through the. Answer: Texas Dept of
Savings and Mortgage Lending
◉Land. Answer: Surface of the earth extending to the center and
upward above the surface to infinity, includes natural things-trees,
crops and water
◉Real Estate. Answer: all that is encompassed in land, with the
addition of all man-made additions to the land, such as roads, houses
and commercial buildings
