TEXAS PRINCIPLES OF REAL ESTATE 2 EXAM REAL EXAM TEST BANK WITH 450 QUESTIONS AND CORRECT ANSWERS (100 CORRECT ANSWERS) TX PRINCIPLES OF REAL ESTATE II EXAM (NEW)

TEXASgPRINCIPLESgOFgREALgESTATEg1gEXAMgWITHgOVERg2
00gQUESTIONSgANDgCORRECTgANSWERSg(VERIFIEDgANDgW
ELLgDETAILEDgANSWERS



Brokerageg-
gCORRECTgANSWERgThegbusinessgofgbringinggbuyersgandgsellersgtogethergandga

ssistinggingnegotiationsgforgthegtermsgofgsalegofgrealgestate.


RealgEstategBrokerg-
gCORRECTgANSWERgAgpersongorgangorganizationgactinggasgthegagentgforgothersgi

ngnegotiatinggthegpurchasegandgsalegofgrealgpropertygorgothergcommoditiesgforgagfee.


RealgEstategSalespersong-
gCORRECTgANSWERgAgpersongperformingganygofgthegactsgincludedgingthegdefinit

iongofgrealgestategbrokergbutgwhilegassociatedgwithgandgsupervisedgbygagbroker.


ResidentialgPropertyg-
gCORRECTgANSWERgAgtypegofgpropertygthatgincludesgonegtogfourgdwellinggunits

.


CommercialgPropertyg-
gCORRECTgANSWERgPropertygthatgproducesgrentalgincomegorgthatgisgusedgingbu

siness.gPropertiesgwithgfivegorgmoregdwellinggunitsgaregconsideredgcommercialgprop
erty.


SpecialgPurposegPropertyg-
gCORRECTgANSWERgAgcategorygofgrealgpropertygcreatedgasgagresultgofgcombini

nggtheglandgandgitsgimprovementsgforgagsingleghighestgandgbestguse.g(libraries,gcemet
eries,grecyclinggcenters)

,MixedgUsegPropertyg-
gCORRECTgANSWERgAnygurban,gsuburbangorgvillagegdevelopment,gorgevengagsi

nglegbuilding,gthatgblendsgagcombinationgofgresidential,gcommercial,gcultural,ginstitu
tional,gorgindustrialguses,gwheregthosegfunctionsgaregphysicallygandgfunctionallyginte
grated,gandgthatgprovidesgpedestriangconnections.


Improvementsg-
gCORRECTgANSWERgChangesgorgadditionalgmadegtogagproperty,gsuchgasgwallsga

ndgroads.gThesegtypicallygincreasegthegvaluegofgagproperty,gexceptgingsomegcasesgofg
overgimprovement.


Non-Homogeneityg-
gCORRECTgANSWERgAgphysicalgcharacteristicgofglandgdescribinggthatglandgasgag

uniquegcommodity.gOnegofgthegqualitiesglandghasgwhichgincreasesgit'sgvaluegalonggwi
thgindestructibilitygandgimmobility.


Valueg-gCORRECTgANSWERgPresentgworthgofgfuturegbenefits


Priceg-
gCORRECTgANSWERgAmountgagpurchasergagreesgtogpaygandgsellergagreesgtogsell

gfor.




Costg-
gCORRECTgANSWERgTotalgdollargexpendituregforglabor,gmaterials,gandgothergite

msgrelatedgtogconstruction.


Agentg-gCORRECTgANSWERgAgpersongauthorizedgtogactgongbehalfgofganother.


Principalg-
gCORRECTgANSWERgEmployergofgangagent.gEx.gclientgemployinggagrealgestatega

gent.


Customerg-

,gCORRECTgANSWERgPartygthegagentgbringsgtogthegprincipalgasgagsellergorgbuyer.g
Ex.gthegpersongthegrealgestategagentgfindsgtogbuygtheghousegtheygareglistinggforgtheirgc
lient.

, GeneralgAgentg-
gCORRECTgANSWERgAngagentgwithgfullgauthoritygovergonegpropertygofgthegprinc

ipal,gsuchgasgagpropertygmanager.


SpecialgAgentg-
gCORRECTgANSWERgAngagentgwithglimitedgauthoritygtogactgongbehalfgofgthegprin

cipal,gsuchgasgcreatedgbygaglisting.


ListinggContractg-
gCORRECTgANSWERgAgcontractgingwhichgagpropertygownergemploys gagrealgestat

egbrokergtogmarketgthegpropertygdescribedgingthegcontract.


FiduciarygDutyg-
gCORRECTgANSWERgThatgdutygowedgbygangagentgtogactgingtheghighestggoodgfait

hgtowardgthegprincipalgandgnotgtogobtainganygadvantagegovergtheglattergbygthegslighte
stgmisrepresentation,gconcealment,gduressgorgpressure.


Fiduciaryg-
gCORRECTgANSWERgAgpersongingagpositiongofgtrustgandgconfidence,gasgbetweeng

principalgandgbroker;gbrokergasgfiduciarygowesgcertaingloyaltygwhichgcannotgbegbrea
chedgundergthegrulesgofgagency.


CaveatgEmptorg-
gCORRECTgANSWERgLetgthegbuyergbeware.gThegbuyergmustgexaminegtheggoodsg

orgpropertygandgbuygatghisgorghergowngrisk


MarketgComparisongApproachg-
gCORRECTgANSWERgAgmeansgofgcomparinggsimilargtypegproperties,gwhichghave

grecentlygsold,gtogthegsubjectgproperty.

Commonlygusedgingcomparinggresidentialgproperties.


CostgApproachg-