PRINCIPLES OF REAL ESTATE I (CH 1-
12 QUIZ QUESTIONS WITH COMPLETE
SOLUTION
j1. With regard to the Apartment Locator profession, which of the following statements is true? - -
Locators are typically on a fixed salary paid by the locator company.
-In Texas, a real estate license is not required to operate as a roommate locator.
♥Apartment locating has expanded to include condominiums and single family homes.
-Locator fees are ultimately paid by the tenants.
1. Opportunities abound in real estate education because - -nearly all states require the completion of
specified real estate courses before a real estate license can be issued.
-all states require continuing education for license renewal.
-people with experience in the industry and an ability to effectively teach are much sought after as
instructors.
♥all of the above are true
1. Which of the following statement is true regarding Farm Brokerage? - -There are seldom opportunities
to earn commissions from leasing and property management.
♥College training in agriculture is a definite advantage.
-Farm brokers need not focus on soil types, seeds, fertilizers and production methods.
-The farm brokers role has remain virtually the same throughout the years.
1. Which of the following would be true of a career in real estate appraisal? - -The job combines office
work and fieldwork.
-The income of an expert appraiser can match that of a top real estate salesperson.
-Most lenders require that their appraisers have some advanced credential designation to ensure an
adequate level of competence.
♥All of the above are true
1. The Education Standard Advisory Committee is a new statutory committee. Which of the following
statements is true regarding this committee? - -The TREC member on the committee has the final vote
on any issues.
-ESAC will not deal with delivery methodologies.
,-All members of the committee must be real estate instructors.
♥ESAC is in the process of revising curriculum for all required core courses.
1. Which of the following statements would be true concerning a career in commercial real estate
brokerage? - -Commercial brokers specialize in income producing properties such as office buildings and
retail stores but not apartments.
-Commercial brokers deal primarily with rental housing.
♥To be successful in commercial brokerage one must be very competent in mathematics, knowhow to
finance transactions, and be aware of current tax laws.
-The time required to break into the business is quite short.
1. Which of the following careers in real estate would involve primarily working with local governments
and civic groups for the purpose of anticipating future growth and land use changes? - ♥Urban planning.
-Land development.
-Consulting.
-Government service.
1. Most people who are considering a career in real estate think of becoming a real estate agent who
specializes in selling homes because - -home selling is the most visible segment of the real estate
industry.
-home selling is the area of business most people answer and the one in which most practicing real
estate licensees make their living.
-residential sales experience is a good way to find out whether real estate sales appeals to the individual.
♥all of the above are true
1. Dealing with the FHA, the VA, and the Federal Home Loan Bank would probably be associated with a
career in - -Consulting.
-Securities and Syndications.
♥Government Service.
-Commercial Brokerage.
1. To supervise every aspect of a property's operation so as to produce the highest possible financial
return over the longest period of time would best describe the role of - -the industrial broker.
♥the property manager.
-the apartment locator.
-the land developer.
,1. Real estate is now more than a career in 'marketing' and 'selling'. - ♥True
False
1. Most new residential real estate agents are salaried. - True
♥False
1. Property managers are usually paid a salary and must have a real estate license. - ♥True
False
1. The appraisal field is more complex requiring for some advanced credential designations. - ♥True
False
1. The U.S. government offers many jobs for real estate licensees. - ♥True
False
1. A real estate consultant does not need a real estate license. - True
♥False
1. Property owners who deal only with their own property are not required to have a real estate license.
- ♥True
False
1. A person who offers to sell, buy, negotiate for another person for compensation must have areal
estate license. - ♥True
False
1. To be in commercial real estate it is more important for the salesperson to have good sales skills than
to have competent mathematical skills. - True
♥False
1. Residential real estate is the most visible segment of the real estate industry. - ♥True
False
2. Bob is selling his property to Dorothy. If there is a house, garage, barn, fence and orange tree on the
property, what will be listed in the deed of conveyance? - ♥Only the land.
-The house and barn as well as the land.
-All of the items of realty must be listed.
-Everything but the orange tree must be listed.
2.An assessor's parcel number is - -the final authority for the legal description of a parcel of land.
, -often used as a legal description in a deed.
♥used extensively by real estate brokers, appraisers, and investors to assist in identifying real properties.
-assigned by the Texas Land Department.
2. Which of the following would likely be considered trade fixtures? - -Meat and dairy coolers.
-Checkout stands.
-Frozen food counters.
♥All jof jthe jabove.
2. jThe jmajor jdrawbacks jof jthe jearly jland jdescriptions jwere j- j-the jpossible jlack jof jconvenient
jmonuments jor jboundaries.
-the jpossibility jthat jmonuments jor jboundaries jcould jbe jmoved jor jmight jdisappear.
-fences jcould jbe jremoved jand junused jroads jcould jbecome jovergrown jwith jvegetation.
♥all jof jthe jabove jare jdrawbacks.
2. jWater jrights jare jalways jan jimportant jissue. jWhich jof jthe jfollowing jis jtrue jregarding jthis jfar
jreaching jconcern? j- j-Texas jhas jadopted jthe jappropriative jsystem jwith jrespect jto jgroundwater jrights.
♥If jwater jappropriation jhas jtwo jconflicting jclaimants, jthe jfirst jin jtime jis jfirst jin jright.
-The jWater jCode jbasically jvests jwater jrights jin jthe jFederal jGovernment.
-The jterm jwater jtable jrefers jto jthe jlower jlimit jof jpercolating jwater jbelow jthe jearth's jsurface.
2. jWhich jof jthe jfollowing jhave jbeen jused jas jmonuments jto jdesignate jthe jcorner jof ja jparcel jof jland
jin jthe jmetes jand jbounds jdescription jof jthe jland j- j-a jpile jof jrocks.
-a jfence.
-a jmonument.
♥any jof jthe jabove.
2. jOf jthe jfollowing, jwhich jwould jbe jconsidered jan j"Economic jCharacteristic jof jLand"? j-
j♥Modification.
-Non jhomogeneity.
-Immobility.
-Indestructibility.
2. jThe jterm jreal jestate jincludes j- j-rights jto jsubsurface jminerals.
-right jto juse jland.
12 QUIZ QUESTIONS WITH COMPLETE
SOLUTION
j1. With regard to the Apartment Locator profession, which of the following statements is true? - -
Locators are typically on a fixed salary paid by the locator company.
-In Texas, a real estate license is not required to operate as a roommate locator.
♥Apartment locating has expanded to include condominiums and single family homes.
-Locator fees are ultimately paid by the tenants.
1. Opportunities abound in real estate education because - -nearly all states require the completion of
specified real estate courses before a real estate license can be issued.
-all states require continuing education for license renewal.
-people with experience in the industry and an ability to effectively teach are much sought after as
instructors.
♥all of the above are true
1. Which of the following statement is true regarding Farm Brokerage? - -There are seldom opportunities
to earn commissions from leasing and property management.
♥College training in agriculture is a definite advantage.
-Farm brokers need not focus on soil types, seeds, fertilizers and production methods.
-The farm brokers role has remain virtually the same throughout the years.
1. Which of the following would be true of a career in real estate appraisal? - -The job combines office
work and fieldwork.
-The income of an expert appraiser can match that of a top real estate salesperson.
-Most lenders require that their appraisers have some advanced credential designation to ensure an
adequate level of competence.
♥All of the above are true
1. The Education Standard Advisory Committee is a new statutory committee. Which of the following
statements is true regarding this committee? - -The TREC member on the committee has the final vote
on any issues.
-ESAC will not deal with delivery methodologies.
,-All members of the committee must be real estate instructors.
♥ESAC is in the process of revising curriculum for all required core courses.
1. Which of the following statements would be true concerning a career in commercial real estate
brokerage? - -Commercial brokers specialize in income producing properties such as office buildings and
retail stores but not apartments.
-Commercial brokers deal primarily with rental housing.
♥To be successful in commercial brokerage one must be very competent in mathematics, knowhow to
finance transactions, and be aware of current tax laws.
-The time required to break into the business is quite short.
1. Which of the following careers in real estate would involve primarily working with local governments
and civic groups for the purpose of anticipating future growth and land use changes? - ♥Urban planning.
-Land development.
-Consulting.
-Government service.
1. Most people who are considering a career in real estate think of becoming a real estate agent who
specializes in selling homes because - -home selling is the most visible segment of the real estate
industry.
-home selling is the area of business most people answer and the one in which most practicing real
estate licensees make their living.
-residential sales experience is a good way to find out whether real estate sales appeals to the individual.
♥all of the above are true
1. Dealing with the FHA, the VA, and the Federal Home Loan Bank would probably be associated with a
career in - -Consulting.
-Securities and Syndications.
♥Government Service.
-Commercial Brokerage.
1. To supervise every aspect of a property's operation so as to produce the highest possible financial
return over the longest period of time would best describe the role of - -the industrial broker.
♥the property manager.
-the apartment locator.
-the land developer.
,1. Real estate is now more than a career in 'marketing' and 'selling'. - ♥True
False
1. Most new residential real estate agents are salaried. - True
♥False
1. Property managers are usually paid a salary and must have a real estate license. - ♥True
False
1. The appraisal field is more complex requiring for some advanced credential designations. - ♥True
False
1. The U.S. government offers many jobs for real estate licensees. - ♥True
False
1. A real estate consultant does not need a real estate license. - True
♥False
1. Property owners who deal only with their own property are not required to have a real estate license.
- ♥True
False
1. A person who offers to sell, buy, negotiate for another person for compensation must have areal
estate license. - ♥True
False
1. To be in commercial real estate it is more important for the salesperson to have good sales skills than
to have competent mathematical skills. - True
♥False
1. Residential real estate is the most visible segment of the real estate industry. - ♥True
False
2. Bob is selling his property to Dorothy. If there is a house, garage, barn, fence and orange tree on the
property, what will be listed in the deed of conveyance? - ♥Only the land.
-The house and barn as well as the land.
-All of the items of realty must be listed.
-Everything but the orange tree must be listed.
2.An assessor's parcel number is - -the final authority for the legal description of a parcel of land.
, -often used as a legal description in a deed.
♥used extensively by real estate brokers, appraisers, and investors to assist in identifying real properties.
-assigned by the Texas Land Department.
2. Which of the following would likely be considered trade fixtures? - -Meat and dairy coolers.
-Checkout stands.
-Frozen food counters.
♥All jof jthe jabove.
2. jThe jmajor jdrawbacks jof jthe jearly jland jdescriptions jwere j- j-the jpossible jlack jof jconvenient
jmonuments jor jboundaries.
-the jpossibility jthat jmonuments jor jboundaries jcould jbe jmoved jor jmight jdisappear.
-fences jcould jbe jremoved jand junused jroads jcould jbecome jovergrown jwith jvegetation.
♥all jof jthe jabove jare jdrawbacks.
2. jWater jrights jare jalways jan jimportant jissue. jWhich jof jthe jfollowing jis jtrue jregarding jthis jfar
jreaching jconcern? j- j-Texas jhas jadopted jthe jappropriative jsystem jwith jrespect jto jgroundwater jrights.
♥If jwater jappropriation jhas jtwo jconflicting jclaimants, jthe jfirst jin jtime jis jfirst jin jright.
-The jWater jCode jbasically jvests jwater jrights jin jthe jFederal jGovernment.
-The jterm jwater jtable jrefers jto jthe jlower jlimit jof jpercolating jwater jbelow jthe jearth's jsurface.
2. jWhich jof jthe jfollowing jhave jbeen jused jas jmonuments jto jdesignate jthe jcorner jof ja jparcel jof jland
jin jthe jmetes jand jbounds jdescription jof jthe jland j- j-a jpile jof jrocks.
-a jfence.
-a jmonument.
♥any jof jthe jabove.
2. jOf jthe jfollowing, jwhich jwould jbe jconsidered jan j"Economic jCharacteristic jof jLand"? j-
j♥Modification.
-Non jhomogeneity.
-Immobility.
-Indestructibility.
2. jThe jterm jreal jestate jincludes j- j-rights jto jsubsurface jminerals.
-right jto juse jland.
