Texas Principles 1 Exam Practice Questions –
1.: Townhomes and single-family homes differ in that a common wall.
(a) townhomes share
(b) single-family homes are sold as distinct living units within
(c) owners of townhomes do notown the land because of (
d) townhomes are retro-commissioned and share
1. a: Rights that are associated with the ownership of real property are often referred to as the
owner's:
(a) Bundle of rights
(b) Constitutional rights (c) Statutory rights
(d) Civil rights
2. a: The agreement between a broker and a client is most often a(n) agency
relationship.
(a) Special
(b) General
(c) Universal
(d) Sub
3. a: A professional association whose local affiliates own and operate MLS systems throughout
the United States is the:
(a) NAR
(b) CCIM
(c) BOMA
(d) ICSC
4. a: The concept behind the government survey system is the of a grid on top of the
land.
(a) overlay
(b) metes and bounds (c) coordinates
(d) leaps and bounds
5. a: You can use the acronym to remember the five essential elements of a valid
and enforceable contract.
(a) COLIC (contractual capacity, offer and acceptance, legality of object, In writing & signed, and
Consideration)
(b) COLLIE
(c) EOVEC
(d) OLDCAR (obedience, loyalty, disclosure, confidentiality, accountability, and Reasonable
, care/diligence)
6. a: Releases can terminate .
(a) easements
(b) prescriptions
(c) implied grants
(d) necessities
7. a: Julie, a salesperson at Acme Realty, obtained a listing on Seller Sam's property on Oak
Street. The following week, Julie was found to be mentally incompetent and was admitted to
the state mental hospital in Rusk. Given Julie's unfortunate status, what is the effect on the
listing with Seller Sam?
(a) The listing agreement is unaffected because it is an agency agreement between Seller Sam
and the broker.
(b) The listing agreement is terminated because Julie is mentally impaired.
(c) The listing agreement is unaffected because mental impairment is never an issue in agency
agreements.
(d) The listing agreement is terminated because Seller Sam would not want to have an agent
that no longer lives in the local market area.
8. b: Attempting to induce panic selling in a neighborhood for financial gain is known as:
(a) Steering
(b) Blockbusting
(c) Flipping
(d) Channeling
9. b: The practice of directing buyers or renters to or away from a particular area based upon a
protected class is known as:
(a) Blockbusting
(b) Steering
(c) Profiteering
(d) Panic pedaling
10. b: The broker and his or her associates are most often in a(n) agency
relationship.
(a) Special
(b) General
(c) Universal
(d) Sub
11. b: The characteristics of value of land include all of the following except for...
a) Demand
b) Taxes
c) Utility
d) Scarcity
1.: Townhomes and single-family homes differ in that a common wall.
(a) townhomes share
(b) single-family homes are sold as distinct living units within
(c) owners of townhomes do notown the land because of (
d) townhomes are retro-commissioned and share
1. a: Rights that are associated with the ownership of real property are often referred to as the
owner's:
(a) Bundle of rights
(b) Constitutional rights (c) Statutory rights
(d) Civil rights
2. a: The agreement between a broker and a client is most often a(n) agency
relationship.
(a) Special
(b) General
(c) Universal
(d) Sub
3. a: A professional association whose local affiliates own and operate MLS systems throughout
the United States is the:
(a) NAR
(b) CCIM
(c) BOMA
(d) ICSC
4. a: The concept behind the government survey system is the of a grid on top of the
land.
(a) overlay
(b) metes and bounds (c) coordinates
(d) leaps and bounds
5. a: You can use the acronym to remember the five essential elements of a valid
and enforceable contract.
(a) COLIC (contractual capacity, offer and acceptance, legality of object, In writing & signed, and
Consideration)
(b) COLLIE
(c) EOVEC
(d) OLDCAR (obedience, loyalty, disclosure, confidentiality, accountability, and Reasonable
, care/diligence)
6. a: Releases can terminate .
(a) easements
(b) prescriptions
(c) implied grants
(d) necessities
7. a: Julie, a salesperson at Acme Realty, obtained a listing on Seller Sam's property on Oak
Street. The following week, Julie was found to be mentally incompetent and was admitted to
the state mental hospital in Rusk. Given Julie's unfortunate status, what is the effect on the
listing with Seller Sam?
(a) The listing agreement is unaffected because it is an agency agreement between Seller Sam
and the broker.
(b) The listing agreement is terminated because Julie is mentally impaired.
(c) The listing agreement is unaffected because mental impairment is never an issue in agency
agreements.
(d) The listing agreement is terminated because Seller Sam would not want to have an agent
that no longer lives in the local market area.
8. b: Attempting to induce panic selling in a neighborhood for financial gain is known as:
(a) Steering
(b) Blockbusting
(c) Flipping
(d) Channeling
9. b: The practice of directing buyers or renters to or away from a particular area based upon a
protected class is known as:
(a) Blockbusting
(b) Steering
(c) Profiteering
(d) Panic pedaling
10. b: The broker and his or her associates are most often in a(n) agency
relationship.
(a) Special
(b) General
(c) Universal
(d) Sub
11. b: The characteristics of value of land include all of the following except for...
a) Demand
b) Taxes
c) Utility
d) Scarcity
