TEXAS PRINCIPLES OF REAL ESTATE FINAL EXAM 2024 AND STUDY
GUIDE QUESTIONS WITH DETAILED VERIFIED SOLUTIONS (100% CORRECT)
/A+ GRADE ASSURED
Joint tenancy is ended when which of the following unities is ended - (correct
answer) Unity of time
Which of these IS NOT associated with metes and bounds measurements? - (correct
answer) Statues
Applicants who are rejected for credit must be notified in writing of the basic reasons
of their application, and the reason for their credit rating when? - (correct answer)
within 30 days
Which of these IS NOT one of the five canons of ethics? - (correct answer)
Cooperation
Multiple real estate brokerages establishing an across-the-board 6% commission for
their agents would be guilty of: - (correct answer) price fixing
What causes great harm or substantially lessens the value of the contract for the non-
breaching party? - (correct answer) Material breach
A counteroffer is: - (correct answer) a rejection of the original offer
A person is not engaged in real estate brokerage, regardless of whether the person is
licensed under this chapter, based solely on engaging in the following activities: -
(correct answer) constructing, remodeling, or repairing a home or other building
What is the name of the governing body for real estate in Texas? - (correct answer)
texas real estate commission (TREC)
A subdivision plat description is: - (correct answer) a legal description that does
not describe each boundary line, but instead refers to a plat, survey, deed, or other
instrument that does show the full particular legal description
The largest and most complete bundle of rights of wonership is which of these? -
(correct answer) Fee simple absolute
Emblements are... - (correct answer) harvestable plants, trees, and uncultivated
vegetation
What is the purpose of real estate licensing law? - (correct answer) All of these
answers are correct.
, to protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
to set out minimum standatds and qulifications for licensing brokers and sales agents.
to protect licenses brokers and sales agents from unfair and improper competition.
The commissioin may require a license holder whose licenst suspension or revocation
is "probated" to do which of these? - (correct answer) Limit practice to an area
prescribed by the commission
Which of the following is one of the components of the NFIP? - (correct answer) All
of these answers are correct.
subsidization
risk identification
risk mitigation
Which of the following is NOT a type of depreciation? - (correct answer) market
value obsolescense
Which of the following fulfills Section 1101.806 of TRELA requirements for
compensation? - (correct answer) the agreement to pay was in writing and signed
by the party to be charged
When the relationship of a sales agent with the sales agent's sponsoring broker
terminates, the terminating party shall immediately notify: - (correct answer) in
writing both the other party and the commission
The Texas definition of consumer good (as clarified through judicial decisions) includes
just anout everything except which of these? - (correct answer) intangibles like
stocks
Which of these fair housing exemptions apply(ies) when a real estate licensee is
involved in a transaction? - (correct answer) there are no exemptions to fair
housing laws when a real estate licensee is involved in a transaction
The party possessing an encumbrance on another party's property has a/an ___________
that property. - (correct answer) All of these are correct
right to use of
GUIDE QUESTIONS WITH DETAILED VERIFIED SOLUTIONS (100% CORRECT)
/A+ GRADE ASSURED
Joint tenancy is ended when which of the following unities is ended - (correct
answer) Unity of time
Which of these IS NOT associated with metes and bounds measurements? - (correct
answer) Statues
Applicants who are rejected for credit must be notified in writing of the basic reasons
of their application, and the reason for their credit rating when? - (correct answer)
within 30 days
Which of these IS NOT one of the five canons of ethics? - (correct answer)
Cooperation
Multiple real estate brokerages establishing an across-the-board 6% commission for
their agents would be guilty of: - (correct answer) price fixing
What causes great harm or substantially lessens the value of the contract for the non-
breaching party? - (correct answer) Material breach
A counteroffer is: - (correct answer) a rejection of the original offer
A person is not engaged in real estate brokerage, regardless of whether the person is
licensed under this chapter, based solely on engaging in the following activities: -
(correct answer) constructing, remodeling, or repairing a home or other building
What is the name of the governing body for real estate in Texas? - (correct answer)
texas real estate commission (TREC)
A subdivision plat description is: - (correct answer) a legal description that does
not describe each boundary line, but instead refers to a plat, survey, deed, or other
instrument that does show the full particular legal description
The largest and most complete bundle of rights of wonership is which of these? -
(correct answer) Fee simple absolute
Emblements are... - (correct answer) harvestable plants, trees, and uncultivated
vegetation
What is the purpose of real estate licensing law? - (correct answer) All of these
answers are correct.
, to protect the general public during real estate transactions from dishonest or
incompetent brokers and sales agents.
to set out minimum standatds and qulifications for licensing brokers and sales agents.
to protect licenses brokers and sales agents from unfair and improper competition.
The commissioin may require a license holder whose licenst suspension or revocation
is "probated" to do which of these? - (correct answer) Limit practice to an area
prescribed by the commission
Which of the following is one of the components of the NFIP? - (correct answer) All
of these answers are correct.
subsidization
risk identification
risk mitigation
Which of the following is NOT a type of depreciation? - (correct answer) market
value obsolescense
Which of the following fulfills Section 1101.806 of TRELA requirements for
compensation? - (correct answer) the agreement to pay was in writing and signed
by the party to be charged
When the relationship of a sales agent with the sales agent's sponsoring broker
terminates, the terminating party shall immediately notify: - (correct answer) in
writing both the other party and the commission
The Texas definition of consumer good (as clarified through judicial decisions) includes
just anout everything except which of these? - (correct answer) intangibles like
stocks
Which of these fair housing exemptions apply(ies) when a real estate licensee is
involved in a transaction? - (correct answer) there are no exemptions to fair
housing laws when a real estate licensee is involved in a transaction
The party possessing an encumbrance on another party's property has a/an ___________
that property. - (correct answer) All of these are correct
right to use of
