TEXAS REAL ESTATE INVESTMENT EXAM ACTUAL EXAM
250 QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED AND CORRECT ANSWERS) |ALREADY
GRADED A
In order for a tenant to claim relief for constructive eviction: - ANSWER: the landlord
must have intentionally withheld required repairs or maintenance
A buyer purchases a furnished condominium apartment as an investment. The
document that evidences the buyer's ownership of the furniture is a: - ANSWER: bill
of sale
A broker who enters into a property management contract is considered a: -
ANSWER: fiduciary
A buyer's interest in real property, acquired at the moment the seller and the buyer
enter into a sales contract, is known as: - ANSWER: equitable interest
The appropriate time for a selling broker to explain the agency relationship to a
prospective buyer is: - ANSWER: at their initial meeting
A broker is asked to lease 1,200 square feet of warehouse space at $6 per square
foot per year. If the broker's commission will be 8 percent of the first year's rental
income, the MAXIMUM amount payable is: - ANSWER: $576
A geographic region in which similar properties compete with the subject property
for potential buyers is called a: - ANSWER: market area
In the absence of a formal appraisal report, which of the following choices is the
MOST appropriate for setting a listing price in a new, rapidly selling neighborhood? -
ANSWER: The price that willing buyers have recently paid for similar structures
Which of the following factors would be included in the description of replacement
cost? - ANSWER: Similar utility and current material
Under an exclusive right-to-sell listing, a broker has the authority to take which of
the following actions on behalf of a seller? - ANSWER: Advertise the property for
sale.
Under a lease for a commercial property, a tenant agrees to pay $4,000 per month
plus 3% of the gross monthly sales. This type of lease is called a: - ANSWER:
percentage
The agency that is charged with enforcing the Comprehensive Environmental
Response, Compensation, and Liability Act (CERCLA) in the case of an owner who
250 QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED AND CORRECT ANSWERS) |ALREADY
GRADED A
In order for a tenant to claim relief for constructive eviction: - ANSWER: the landlord
must have intentionally withheld required repairs or maintenance
A buyer purchases a furnished condominium apartment as an investment. The
document that evidences the buyer's ownership of the furniture is a: - ANSWER: bill
of sale
A broker who enters into a property management contract is considered a: -
ANSWER: fiduciary
A buyer's interest in real property, acquired at the moment the seller and the buyer
enter into a sales contract, is known as: - ANSWER: equitable interest
The appropriate time for a selling broker to explain the agency relationship to a
prospective buyer is: - ANSWER: at their initial meeting
A broker is asked to lease 1,200 square feet of warehouse space at $6 per square
foot per year. If the broker's commission will be 8 percent of the first year's rental
income, the MAXIMUM amount payable is: - ANSWER: $576
A geographic region in which similar properties compete with the subject property
for potential buyers is called a: - ANSWER: market area
In the absence of a formal appraisal report, which of the following choices is the
MOST appropriate for setting a listing price in a new, rapidly selling neighborhood? -
ANSWER: The price that willing buyers have recently paid for similar structures
Which of the following factors would be included in the description of replacement
cost? - ANSWER: Similar utility and current material
Under an exclusive right-to-sell listing, a broker has the authority to take which of
the following actions on behalf of a seller? - ANSWER: Advertise the property for
sale.
Under a lease for a commercial property, a tenant agrees to pay $4,000 per month
plus 3% of the gross monthly sales. This type of lease is called a: - ANSWER:
percentage
The agency that is charged with enforcing the Comprehensive Environmental
Response, Compensation, and Liability Act (CERCLA) in the case of an owner who
