Latest 2026 verified Texas Real Estate
National Exam Test Prep questions &
answers
Which type of estate is owned for an indefinite period of time?
A) Leasehold estate
☑️☑️ B) Fee simple absolute
C) Life estate
D) Estate for years
What document is primarily used to transfer ownership of real property?
A) Mortgage
☑️☑️ B) Deed
C) Lease
D) Appraisal report
Which contract element requires mutual agreement between parties?
☑️☑️ A) Mutual assent
B) Consideration
C) Capacity
D) Legality
What does “escrow” refer to in a real estate transaction?
A) A type of loan
☑️☑️ B) A neutral third party holding funds/documents
C) A property inspection
D) A tax obligation
Which term describes the right to possess, use, and transfer property?
☑️☑️ A) Bundle of rights
B) Easement
C) Encumbrance
D) Lien
Which agency regulates fair housing laws in the United States?
☑️☑️ A) HUD
B) IRS
C) SEC
D) FHA
What is a lien?
A) A property survey
1
,☑️☑️ B) A legal claim against property for a debt
C) A lease agreement
D) A zoning ordinance
Which loan type is insured by the Federal Housing Administration?
☑️☑️ A) FHA loan
B) VA loan
C) Conventional loan
D) Bridge loan
What is amortization?
A) Property depreciation
☑️☑️ B) Gradual loan repayment over time
C) Property appraisal
D) Title transfer
Which of the following is a fiduciary duty of an agent?
☑️☑️ A) Loyalty
B) Advertising
C) Financing
D) Surveying
What is a comparative market analysis used for?
☑️☑️ A) Estimating property value
B) Drafting contracts
C) Inspecting properties
D) Issuing loans
What type of property ownership involves two or more people with survivorship rights?
☑️☑️ A) Joint tenancy
B) Tenancy in common
C) Community property
D) Fee simple
Which clause allows a lender to demand full repayment upon sale of a property?
☑️☑️ A) Due-on-sale clause
B) Escalation clause
C) Contingency clause
D) Acceleration clause
What is the primary purpose of title insurance?
☑️☑️ A) Protect against title defects
B) Insure the building
C) Cover repairs
D) Guarantee property value
2
,Which principle states that value is influenced by nearby similar properties?
☑️☑️ A) Principle of conformity
B) Principle of substitution
C) Principle of anticipation
D) Principle of progression
What is a deed restriction?
☑️☑️ A) A limitation on property use
B) A mortgage clause
C) A tax rule
D) A zoning variance
What is the definition of a lease?
☑️☑️ A) A contract granting possession for a period
B) A property title document
C) A loan agreement
D) A deed transfer
Which appraisal approach compares similar properties sold recently?
☑️☑️ A) Sales comparison approach
B) Cost approach
C) Income approach
D) Residual approach
What is zoning?
☑️☑️ A) Regulation of land use by government
B) Property financing method
C) Ownership structure
D) Survey method
What is an easement?
☑️☑️ A) Right to use another’s land for a specific purpose
B) Ownership transfer
C) Lease contract
D) Mortgage type
Which term refers to legal ownership of property?
☑️☑️ A) Title
B) Deed
C) Escrow
D) Survey
What is earnest money?
☑️☑️ A) Deposit showing buyer’s good faith
B) Closing cost
3
, C) Loan interest
D) Property tax
What is a contingency in a contract?
☑️☑️ A) A condition that must be met for the contract to proceed
B) A penalty clause
C) A financing method
D) A title issue
Which entity enforces the Real Estate Settlement Procedures Act (RESPA)?
☑️☑️ A) CFPB
B) IRS
C) SEC
D) HUD
What is depreciation in real estate?
☑️☑️ A) Loss of value over time
B) Increase in value
C) Loan repayment
D) Property transfer
What is the purpose of a home inspection?
☑️☑️ A) Identify property defects
B) Set property taxes
C) Transfer title
D) Approve zoning
What is a mortgage?
☑️☑️ A) A loan secured by real property
B) A lease agreement
C) A property survey
D) A deed restriction
What is a promissory note?
☑️☑️ A) A written promise to repay a loan
B) A property deed
C) A title document
D) A zoning permit
Which clause in a mortgage allows foreclosure upon default?
☑️☑️ A) Power of sale clause
B) Escrow clause
C) Contingency clause
D) Disclosure clause
4
National Exam Test Prep questions &
answers
Which type of estate is owned for an indefinite period of time?
A) Leasehold estate
☑️☑️ B) Fee simple absolute
C) Life estate
D) Estate for years
What document is primarily used to transfer ownership of real property?
A) Mortgage
☑️☑️ B) Deed
C) Lease
D) Appraisal report
Which contract element requires mutual agreement between parties?
☑️☑️ A) Mutual assent
B) Consideration
C) Capacity
D) Legality
What does “escrow” refer to in a real estate transaction?
A) A type of loan
☑️☑️ B) A neutral third party holding funds/documents
C) A property inspection
D) A tax obligation
Which term describes the right to possess, use, and transfer property?
☑️☑️ A) Bundle of rights
B) Easement
C) Encumbrance
D) Lien
Which agency regulates fair housing laws in the United States?
☑️☑️ A) HUD
B) IRS
C) SEC
D) FHA
What is a lien?
A) A property survey
1
,☑️☑️ B) A legal claim against property for a debt
C) A lease agreement
D) A zoning ordinance
Which loan type is insured by the Federal Housing Administration?
☑️☑️ A) FHA loan
B) VA loan
C) Conventional loan
D) Bridge loan
What is amortization?
A) Property depreciation
☑️☑️ B) Gradual loan repayment over time
C) Property appraisal
D) Title transfer
Which of the following is a fiduciary duty of an agent?
☑️☑️ A) Loyalty
B) Advertising
C) Financing
D) Surveying
What is a comparative market analysis used for?
☑️☑️ A) Estimating property value
B) Drafting contracts
C) Inspecting properties
D) Issuing loans
What type of property ownership involves two or more people with survivorship rights?
☑️☑️ A) Joint tenancy
B) Tenancy in common
C) Community property
D) Fee simple
Which clause allows a lender to demand full repayment upon sale of a property?
☑️☑️ A) Due-on-sale clause
B) Escalation clause
C) Contingency clause
D) Acceleration clause
What is the primary purpose of title insurance?
☑️☑️ A) Protect against title defects
B) Insure the building
C) Cover repairs
D) Guarantee property value
2
,Which principle states that value is influenced by nearby similar properties?
☑️☑️ A) Principle of conformity
B) Principle of substitution
C) Principle of anticipation
D) Principle of progression
What is a deed restriction?
☑️☑️ A) A limitation on property use
B) A mortgage clause
C) A tax rule
D) A zoning variance
What is the definition of a lease?
☑️☑️ A) A contract granting possession for a period
B) A property title document
C) A loan agreement
D) A deed transfer
Which appraisal approach compares similar properties sold recently?
☑️☑️ A) Sales comparison approach
B) Cost approach
C) Income approach
D) Residual approach
What is zoning?
☑️☑️ A) Regulation of land use by government
B) Property financing method
C) Ownership structure
D) Survey method
What is an easement?
☑️☑️ A) Right to use another’s land for a specific purpose
B) Ownership transfer
C) Lease contract
D) Mortgage type
Which term refers to legal ownership of property?
☑️☑️ A) Title
B) Deed
C) Escrow
D) Survey
What is earnest money?
☑️☑️ A) Deposit showing buyer’s good faith
B) Closing cost
3
, C) Loan interest
D) Property tax
What is a contingency in a contract?
☑️☑️ A) A condition that must be met for the contract to proceed
B) A penalty clause
C) A financing method
D) A title issue
Which entity enforces the Real Estate Settlement Procedures Act (RESPA)?
☑️☑️ A) CFPB
B) IRS
C) SEC
D) HUD
What is depreciation in real estate?
☑️☑️ A) Loss of value over time
B) Increase in value
C) Loan repayment
D) Property transfer
What is the purpose of a home inspection?
☑️☑️ A) Identify property defects
B) Set property taxes
C) Transfer title
D) Approve zoning
What is a mortgage?
☑️☑️ A) A loan secured by real property
B) A lease agreement
C) A property survey
D) A deed restriction
What is a promissory note?
☑️☑️ A) A written promise to repay a loan
B) A property deed
C) A title document
D) A zoning permit
Which clause in a mortgage allows foreclosure upon default?
☑️☑️ A) Power of sale clause
B) Escrow clause
C) Contingency clause
D) Disclosure clause
4
