VANED PRINCIPLES OF REAL ESTATE 1
PRACTICE EXAM QUESTIONS AND
ANSWERS 100% PASS 2026/2027
Air space. - ANS What is the real estate rights above the ground surface called?
Real estate value - ANS The __________ represents an expected price that should result
under specific conditions.
Competent - ANS A broker or sales associate that is qualified to answer questions about a
specific real estate is said to be ____________.
Education; Ethics; Competence. - ANS The purpose of the real estate license is to ensure the
licensee meets the minimum standard of _____________ mandated by Texas Real Estate
Commission (TREC).
National Association of REALTORS (NAR) - ANS Which Professional real estate organization is
open to real estate professionals involved in residential, commercial, appraisal, counseling, and
even property management brokerage, and provides training, research, and idea exchange as
well as business networking?
@2026 ALLRIGHTS RESERVED 1
,Texas Association of REALTORS (TAR) - ANS What professional realtor association has a
mission of promoting and protecting private-property ownership and rights in order to keep
homeownership affordable?
The consumer; The practitioner. - ANS Real estate specialization offers benefits to
______________.
Housing for Older Persons Act of 1995 (HOPA) - ANS The _______________ law contains
requirements, provisions, and exemptions pertinent to senior (55 and older) house in.
An agreement between states that allows the agent to be licensed in another state. -
ANS Reciprocity is defined as _________.
A fixture. - ANS A moveable item that is permanently attached to the land by a bill of sale,
and which transfers with the property, is _______________.
Subsurface rights. - ANS What rights entitle the owner to material below the surface (e.g.:
minerals, water)?
Interstate Land Sales Full Disclosure Act (ILSFDA) - ANS What full disclosure Act requires
developers to file a statement of disclosures?
Market conditions. - ANS What information does a broker or sales associate typically market?
Education Standard Advisory Committee (ESAC) - ANS Which Texas Real Estate License Act
Committee is responsible for reviewing and revising real estate continuing ed. course curriculum
standards, content requirements, and instructor certification?
@2026 ALLRIGHTS RESERVED 2
, Its immobility - ANS What physical characteristics of land make it different from other
commodities that are bought and sold?
They are still considered real property. - ANS When mineral rights and air rights are sold
separately ____________.
Appurtenances - ANS Items that are attached to the land, made a part of the land, and that
include rights or privileges which lie outside the land, but which are attached to the land, are
______________.
To ensure senior housing has at least one person age 55 or older in its occupied units. -
ANS What is the purpose of Housing for Older Persons Act of 1995 (HOPA)?
Financial statements; Infrastructure developments; Property conditions. - ANS The Interstate
Land Sales Full Disclosure Act (ILSFDA) requires any developer selling more than 100 non-
exempt subdivided residential lots as part of a common promotional plan to file a statement
containing disclosures, which include _________.
Sale - ANS According to the Interstate Land Sales Full Disclosure Act (ILSFDA),
a(n)______________ occurs when a purchaser acquires an equitable interest in the property.
The sale of property to a government agency - ANS What types of property sales are exempt
from Interstate Land Sales Full Disclosure Act ( ILSFDA) disclosure and registration
requirements?
Service animals - ANS The "no pets" rule does not apply to _______________.
Texas Property Code. - ANS What laws are intended to regulate the rights and relations
between landlords nad tenants?
@2026 ALLRIGHTS RESERVED 3
PRACTICE EXAM QUESTIONS AND
ANSWERS 100% PASS 2026/2027
Air space. - ANS What is the real estate rights above the ground surface called?
Real estate value - ANS The __________ represents an expected price that should result
under specific conditions.
Competent - ANS A broker or sales associate that is qualified to answer questions about a
specific real estate is said to be ____________.
Education; Ethics; Competence. - ANS The purpose of the real estate license is to ensure the
licensee meets the minimum standard of _____________ mandated by Texas Real Estate
Commission (TREC).
National Association of REALTORS (NAR) - ANS Which Professional real estate organization is
open to real estate professionals involved in residential, commercial, appraisal, counseling, and
even property management brokerage, and provides training, research, and idea exchange as
well as business networking?
@2026 ALLRIGHTS RESERVED 1
,Texas Association of REALTORS (TAR) - ANS What professional realtor association has a
mission of promoting and protecting private-property ownership and rights in order to keep
homeownership affordable?
The consumer; The practitioner. - ANS Real estate specialization offers benefits to
______________.
Housing for Older Persons Act of 1995 (HOPA) - ANS The _______________ law contains
requirements, provisions, and exemptions pertinent to senior (55 and older) house in.
An agreement between states that allows the agent to be licensed in another state. -
ANS Reciprocity is defined as _________.
A fixture. - ANS A moveable item that is permanently attached to the land by a bill of sale,
and which transfers with the property, is _______________.
Subsurface rights. - ANS What rights entitle the owner to material below the surface (e.g.:
minerals, water)?
Interstate Land Sales Full Disclosure Act (ILSFDA) - ANS What full disclosure Act requires
developers to file a statement of disclosures?
Market conditions. - ANS What information does a broker or sales associate typically market?
Education Standard Advisory Committee (ESAC) - ANS Which Texas Real Estate License Act
Committee is responsible for reviewing and revising real estate continuing ed. course curriculum
standards, content requirements, and instructor certification?
@2026 ALLRIGHTS RESERVED 2
, Its immobility - ANS What physical characteristics of land make it different from other
commodities that are bought and sold?
They are still considered real property. - ANS When mineral rights and air rights are sold
separately ____________.
Appurtenances - ANS Items that are attached to the land, made a part of the land, and that
include rights or privileges which lie outside the land, but which are attached to the land, are
______________.
To ensure senior housing has at least one person age 55 or older in its occupied units. -
ANS What is the purpose of Housing for Older Persons Act of 1995 (HOPA)?
Financial statements; Infrastructure developments; Property conditions. - ANS The Interstate
Land Sales Full Disclosure Act (ILSFDA) requires any developer selling more than 100 non-
exempt subdivided residential lots as part of a common promotional plan to file a statement
containing disclosures, which include _________.
Sale - ANS According to the Interstate Land Sales Full Disclosure Act (ILSFDA),
a(n)______________ occurs when a purchaser acquires an equitable interest in the property.
The sale of property to a government agency - ANS What types of property sales are exempt
from Interstate Land Sales Full Disclosure Act ( ILSFDA) disclosure and registration
requirements?
Service animals - ANS The "no pets" rule does not apply to _______________.
Texas Property Code. - ANS What laws are intended to regulate the rights and relations
between landlords nad tenants?
@2026 ALLRIGHTS RESERVED 3
