Principles of Real Estate I Exam Questions
With Accurate Answers 2025\2026 A+ Grade.
3 Physical Characteristics of Land
- accurate answers-Indestructibility or durability
Immobility
Non homogeneity
Mortgage Lending
- accurate answers-business of providing money to individuals or
corporations for the conditional transfer or pledge of real estate as security
for payment of a debt
RMLO
- accurate answers-Residential Mortgage Lenders Originator
Property Management
- accurate answers-Management of residential and commercial properties on
behalf of owner/investor
Apartment Locators
- accurate answers-Locates rentals of tenants in multi-family complexes. Has
knowledge of amenities of all complexes in the market area. Paid a fee by
apartment complex for referals
Home Inspectors
- accurate answers-Inspects properties for habitability including HVAC,
Plumbing, electrical and construction methods
Real Estate Development
- accurate answers-Involves the acquisition of land for development into
residential subdivisions, retail center and commercial uses
Oil and Gas Landman
- accurate answers-Negotiates oil and gas leases with mineral owners. Title
work to determine mineral ownership
,TREC
- accurate answers-Texas Real Estate Commision
Education Standards Advisory Cmte
- accurate answers-12 members-7 brokers, 4 education board members, 1
public member. Reviews and revises curriculum standards, course
requirements.
NAR-National Association of Realtors
- accurate answers-Largest professional organization for RE profs. Divided
into State and Local boards. Operates the MLS
IREM-Institute of RE Mgmt
- accurate answers-Intl cmte of RE managers.
CCIM-Certified Commercial Investment Memeber
- accurate answers-Est 1954. Furthers business practices through education
and networking
SIOR-Society of Industrial and office realtors
- accurate answers-Professional affiliate of the NAR. Specializes in industrial,
office, sales managers, executive manager or advisory service
ICSC-International Council of Shopping Centers
- accurate answers-Purpose is to advance the shopping center industry.
Promotes commercial distribution of consumer goods and service
BOMA-Building Owners and Managers Assoc
- accurate answers-Member are building owners, managers, developers,
leasing professionals, corporate facility managers, asset managers, and
providers of products and services to operate commercial properties
Land is developed...
- accurate answers-by appearance, location and scenic value
Land is described...
- accurate answers-by utility and suitability for a specific use
, Land and Real Estate property
- accurate answers-must be described in a distinguishable manner from
personal property.
4 Economic Characteristics of Land
- accurate answers-Scarcity
Modification
Fixity
Situs
Indestructibility or durability
- accurate answers-Land cannot be destroyed
Immobility
- accurate answers-land cannot be moved, owner must go to the land
Non-homogeneity
- accurate answers-no 2 parcels of land is the same.
Scarcity
- accurate answers-supply and demand. Shortage of what people want price
goes up; less land price increases, more land price decreases
Modification
- accurate answers-value is affected by man-made changes to the land itself or
offsite improvements
Fixity
- accurate answers-land and addition to land take a long time to pay for
themselves.
Situs
- accurate answers-Location of property or land from and economic not
geographic viewpoint
value
- accurate answers-fair return in goods, services or money for something
exchanged. The monetary worth of something.
With Accurate Answers 2025\2026 A+ Grade.
3 Physical Characteristics of Land
- accurate answers-Indestructibility or durability
Immobility
Non homogeneity
Mortgage Lending
- accurate answers-business of providing money to individuals or
corporations for the conditional transfer or pledge of real estate as security
for payment of a debt
RMLO
- accurate answers-Residential Mortgage Lenders Originator
Property Management
- accurate answers-Management of residential and commercial properties on
behalf of owner/investor
Apartment Locators
- accurate answers-Locates rentals of tenants in multi-family complexes. Has
knowledge of amenities of all complexes in the market area. Paid a fee by
apartment complex for referals
Home Inspectors
- accurate answers-Inspects properties for habitability including HVAC,
Plumbing, electrical and construction methods
Real Estate Development
- accurate answers-Involves the acquisition of land for development into
residential subdivisions, retail center and commercial uses
Oil and Gas Landman
- accurate answers-Negotiates oil and gas leases with mineral owners. Title
work to determine mineral ownership
,TREC
- accurate answers-Texas Real Estate Commision
Education Standards Advisory Cmte
- accurate answers-12 members-7 brokers, 4 education board members, 1
public member. Reviews and revises curriculum standards, course
requirements.
NAR-National Association of Realtors
- accurate answers-Largest professional organization for RE profs. Divided
into State and Local boards. Operates the MLS
IREM-Institute of RE Mgmt
- accurate answers-Intl cmte of RE managers.
CCIM-Certified Commercial Investment Memeber
- accurate answers-Est 1954. Furthers business practices through education
and networking
SIOR-Society of Industrial and office realtors
- accurate answers-Professional affiliate of the NAR. Specializes in industrial,
office, sales managers, executive manager or advisory service
ICSC-International Council of Shopping Centers
- accurate answers-Purpose is to advance the shopping center industry.
Promotes commercial distribution of consumer goods and service
BOMA-Building Owners and Managers Assoc
- accurate answers-Member are building owners, managers, developers,
leasing professionals, corporate facility managers, asset managers, and
providers of products and services to operate commercial properties
Land is developed...
- accurate answers-by appearance, location and scenic value
Land is described...
- accurate answers-by utility and suitability for a specific use
, Land and Real Estate property
- accurate answers-must be described in a distinguishable manner from
personal property.
4 Economic Characteristics of Land
- accurate answers-Scarcity
Modification
Fixity
Situs
Indestructibility or durability
- accurate answers-Land cannot be destroyed
Immobility
- accurate answers-land cannot be moved, owner must go to the land
Non-homogeneity
- accurate answers-no 2 parcels of land is the same.
Scarcity
- accurate answers-supply and demand. Shortage of what people want price
goes up; less land price increases, more land price decreases
Modification
- accurate answers-value is affected by man-made changes to the land itself or
offsite improvements
Fixity
- accurate answers-land and addition to land take a long time to pay for
themselves.
Situs
- accurate answers-Location of property or land from and economic not
geographic viewpoint
value
- accurate answers-fair return in goods, services or money for something
exchanged. The monetary worth of something.
