Texas Real Estate Exam 2024/ 100 Quizzes &
Ans/ Already Graded A+
An insurance policy which combines personal liability insurance and hazard
insurance coverage for a dwelling and its contents is called - Answer:
homeowner's insurance
What is the status of a contract when all of the terms have been fulfilled and the
transaction has been closed? - Answer: fully executed
Surface Rights, Air Rights, and Subsurface Rights are all rights that can be sold by a
property owner while still retaining the property itself. These rights are known as:
- Answer: severable rights
Page 1 of 17
,When an easement allows the use of a neighboring property which automatically
transfers upon the sale of either dominant or servient property, it is called what
type of easement? - Answer: Easement Appurtenant
Linda purchased a fee simple interest for the private use of a residential property
for one week every single year. What did Linda purchase? - Answer: resort
timeshare
What is the highest form of land ownership which includes the full and complete
bundle of property rights? - Answer: fee simple absolute
What type of ownership would allow two or more owners to have various unequal
percentages of ownership? - Answer: Tenancy in common
Tenancy in Severalty is best described as: - Answer: One property owner
Which of the following is NOT one of the four land use controls? - Answer:
Intestate
What is the general purpose for cities to acquire building permits? - Answer: to
require a minimum level of construction standards
The interest rate banks charge to their preferred customers is called: - Answer:
the prime rate
Page 2 of 17
, The city of Brownwood plans to build a new water treatment facility but the land
that is required is privately owned. Eminent domain allows the city to: - Answer:
Take possession of the land against the owner's wishes, yet the owner must be
compensated
When the appraised value of a property is given, it is based on: - Answer:
Comparable sales
Agent Brook is preparing for a listing appointment and has gathered information
to prepare a report of recent market data for the seller to review. The report
agents reconcile to obtain a reasonable list price for a property based on current
listings, recent sales, and expireds would be called: - Answer: Comparative Market
Analysis
Paul owns an older residential property in an area now zoned for commercial use.
Paul decides to renovate the home into a laundry mat. The change in the
properties functionality for Paul's financial gain is an example of what: - Answer:
highest and best use
Jon's Tire Store is being built across the street from Big Bob's Tires. What appraisal
principle describes this situation? - Answer: competition
Buyer Sam purchased a run down residential home in a neighborhood with many
nice well kept properties. Sam intends to renovate the home and resell it for a
Page 3 of 17
Ans/ Already Graded A+
An insurance policy which combines personal liability insurance and hazard
insurance coverage for a dwelling and its contents is called - Answer:
homeowner's insurance
What is the status of a contract when all of the terms have been fulfilled and the
transaction has been closed? - Answer: fully executed
Surface Rights, Air Rights, and Subsurface Rights are all rights that can be sold by a
property owner while still retaining the property itself. These rights are known as:
- Answer: severable rights
Page 1 of 17
,When an easement allows the use of a neighboring property which automatically
transfers upon the sale of either dominant or servient property, it is called what
type of easement? - Answer: Easement Appurtenant
Linda purchased a fee simple interest for the private use of a residential property
for one week every single year. What did Linda purchase? - Answer: resort
timeshare
What is the highest form of land ownership which includes the full and complete
bundle of property rights? - Answer: fee simple absolute
What type of ownership would allow two or more owners to have various unequal
percentages of ownership? - Answer: Tenancy in common
Tenancy in Severalty is best described as: - Answer: One property owner
Which of the following is NOT one of the four land use controls? - Answer:
Intestate
What is the general purpose for cities to acquire building permits? - Answer: to
require a minimum level of construction standards
The interest rate banks charge to their preferred customers is called: - Answer:
the prime rate
Page 2 of 17
, The city of Brownwood plans to build a new water treatment facility but the land
that is required is privately owned. Eminent domain allows the city to: - Answer:
Take possession of the land against the owner's wishes, yet the owner must be
compensated
When the appraised value of a property is given, it is based on: - Answer:
Comparable sales
Agent Brook is preparing for a listing appointment and has gathered information
to prepare a report of recent market data for the seller to review. The report
agents reconcile to obtain a reasonable list price for a property based on current
listings, recent sales, and expireds would be called: - Answer: Comparative Market
Analysis
Paul owns an older residential property in an area now zoned for commercial use.
Paul decides to renovate the home into a laundry mat. The change in the
properties functionality for Paul's financial gain is an example of what: - Answer:
highest and best use
Jon's Tire Store is being built across the street from Big Bob's Tires. What appraisal
principle describes this situation? - Answer: competition
Buyer Sam purchased a run down residential home in a neighborhood with many
nice well kept properties. Sam intends to renovate the home and resell it for a
Page 3 of 17
