Aceable Agent- Principles of Real Estate Exam 1 FINAL Texas
Study online at https://quizlet.com/_dg5nh2
1. Exclusive right to sell: agreement guarantees the agent's brokerage receives a
commission if the property is sold, regardless of who brings the buyer
2. Lead based paint: An agent is listing a property built in 1964. The agent is
required by federal law to provide the buyer with a disclosure on which environmental
hazard
3. In Writing: For a listing agreement to be enforceable in court, it MUST be:
4. Trust Tenancy: Which one of the following is NOT a type of co-ownership?
5. limited partnership: When a business has general partners that oversee the
day-to-day activities of the business and other partners that are only investors and
ONLY have liability up to the amount of their investments
6. creditors: Texas homestead laws protect homeowners from:
7. abstract of title: What is the history of the title to a property called?
8. Littoral rights: Buyer Alex is looking at a lakefront property. He has questions
about whether he would be allowed to access and use the lake. What kind of rights
is Alex wondering about?
9. Riparian Rights: Rights that govern the use of flowing water, such as rivers and
streams that pass through or border a property are known as:
10. cloud on title: Winston and Ally purchased a home together, but both remained
on the title after their divorce, even though Ally got the house to herself. While trying
to sell the house, it is discovered that Winston is still considered an owner.
This is an example of what type of encumbrance?
11. sue for compensatory damages, specific performance or both: When there
is a breach of contract, the non-breaching party can rescind the contract, forfeit the
contract, or:
12. Air Lot: space above a parcel of land called
13. contour maps: Where can developers find information about the terrain and
elevation for a given parcel
14. rectangular survey method: Choose the survey method that could result in this
legal description: "SW 1/4 of the NE 1/4 of the NW 1/4 of Section 2, Township 8
South, Range 3
15. bench mark: A monument used to establish the elevation of the point, usually
relative to Mean Sea Level. It is permanent.
16. government survey system: A method of specifying the location of a parcel
of land using prime meridians, base lines, standard parallels, guide meridians,
townships and sections is known as the...
17. range: A strip or column of land six miles wide, determined by a government
survey, running in a north-south direction, lying east or west of a principal meridian
is known as a
18. Metes and Bounds: Land in Texas was originally identified by
1/9
, Aceable Agent- Principles of Real Estate Exam 1 FINAL Texas
Study online at https://quizlet.com/_dg5nh2
19. all of the above: Which of the following is an example of a monument...?A) A
treeB) A postC) A streamD) All of the above
20. metes & bounds: Describes the perimeter of the subject property in terms of
boundaries directions and distance
21. what objects are used to mark surveys: A natural object such as a Tree or
stream in rural settings but generally they are manmade like post, stakes, or iron
pikes.
22. What is the rectangular survey system? Do we use it in Texas?: The rectan-
gular survey system is the government survey system created by congress in 1785
to standardize the description of the land that the government planned on acquiring
or that they did acquire.
NO
23. When do we use the rectangular system in Texas for descriptions?: We use
them when we are doing section measurements
24. section: Established by a government survey and contains 640 acres and is one
mile square.
25. 43,560 sq.ft: 1 acre in sqft
26. 50,000: max settlement amount you can receive from TREC
27. A township consists of how many sections: 36
28. Besides Metes and bounds are on: Recorded Subdivision plats
29. Which does Texas primarily for their legal descriptions: metes and bounds
30. What is a datum used for?: Determining the height of structure or establishing
the grate of a street
31. a parcel: Parcel is the break down number of a section.
32. 1 year: Once a license application is filed, how long does an applicant have to
satisfy the examination requirement?
33. what is the recovery fund used for?: to pay damages to a person from the
public who wins a court case against a license holder
34. The Real Estate License Act: Chapter 1101 of the Texas Occupations Code is
known as:
35. Preamble: The introduction to the National Association of REALTORS® Code
of Ethics is called the:
36. The Canons of Professional Ethics and Conduct require the agent to
practice:: fidelity, integrity and competency
37. Fair, honest & competent: The National Association of REALTORS® Code of
Ethics says REALTORS® should be:
38. Preamble & 17 Articles: The National Association of Realtors' Code of Ethics
consists of:
2/9
Study online at https://quizlet.com/_dg5nh2
1. Exclusive right to sell: agreement guarantees the agent's brokerage receives a
commission if the property is sold, regardless of who brings the buyer
2. Lead based paint: An agent is listing a property built in 1964. The agent is
required by federal law to provide the buyer with a disclosure on which environmental
hazard
3. In Writing: For a listing agreement to be enforceable in court, it MUST be:
4. Trust Tenancy: Which one of the following is NOT a type of co-ownership?
5. limited partnership: When a business has general partners that oversee the
day-to-day activities of the business and other partners that are only investors and
ONLY have liability up to the amount of their investments
6. creditors: Texas homestead laws protect homeowners from:
7. abstract of title: What is the history of the title to a property called?
8. Littoral rights: Buyer Alex is looking at a lakefront property. He has questions
about whether he would be allowed to access and use the lake. What kind of rights
is Alex wondering about?
9. Riparian Rights: Rights that govern the use of flowing water, such as rivers and
streams that pass through or border a property are known as:
10. cloud on title: Winston and Ally purchased a home together, but both remained
on the title after their divorce, even though Ally got the house to herself. While trying
to sell the house, it is discovered that Winston is still considered an owner.
This is an example of what type of encumbrance?
11. sue for compensatory damages, specific performance or both: When there
is a breach of contract, the non-breaching party can rescind the contract, forfeit the
contract, or:
12. Air Lot: space above a parcel of land called
13. contour maps: Where can developers find information about the terrain and
elevation for a given parcel
14. rectangular survey method: Choose the survey method that could result in this
legal description: "SW 1/4 of the NE 1/4 of the NW 1/4 of Section 2, Township 8
South, Range 3
15. bench mark: A monument used to establish the elevation of the point, usually
relative to Mean Sea Level. It is permanent.
16. government survey system: A method of specifying the location of a parcel
of land using prime meridians, base lines, standard parallels, guide meridians,
townships and sections is known as the...
17. range: A strip or column of land six miles wide, determined by a government
survey, running in a north-south direction, lying east or west of a principal meridian
is known as a
18. Metes and Bounds: Land in Texas was originally identified by
1/9
, Aceable Agent- Principles of Real Estate Exam 1 FINAL Texas
Study online at https://quizlet.com/_dg5nh2
19. all of the above: Which of the following is an example of a monument...?A) A
treeB) A postC) A streamD) All of the above
20. metes & bounds: Describes the perimeter of the subject property in terms of
boundaries directions and distance
21. what objects are used to mark surveys: A natural object such as a Tree or
stream in rural settings but generally they are manmade like post, stakes, or iron
pikes.
22. What is the rectangular survey system? Do we use it in Texas?: The rectan-
gular survey system is the government survey system created by congress in 1785
to standardize the description of the land that the government planned on acquiring
or that they did acquire.
NO
23. When do we use the rectangular system in Texas for descriptions?: We use
them when we are doing section measurements
24. section: Established by a government survey and contains 640 acres and is one
mile square.
25. 43,560 sq.ft: 1 acre in sqft
26. 50,000: max settlement amount you can receive from TREC
27. A township consists of how many sections: 36
28. Besides Metes and bounds are on: Recorded Subdivision plats
29. Which does Texas primarily for their legal descriptions: metes and bounds
30. What is a datum used for?: Determining the height of structure or establishing
the grate of a street
31. a parcel: Parcel is the break down number of a section.
32. 1 year: Once a license application is filed, how long does an applicant have to
satisfy the examination requirement?
33. what is the recovery fund used for?: to pay damages to a person from the
public who wins a court case against a license holder
34. The Real Estate License Act: Chapter 1101 of the Texas Occupations Code is
known as:
35. Preamble: The introduction to the National Association of REALTORS® Code
of Ethics is called the:
36. The Canons of Professional Ethics and Conduct require the agent to
practice:: fidelity, integrity and competency
37. Fair, honest & competent: The National Association of REALTORS® Code of
Ethics says REALTORS® should be:
38. Preamble & 17 Articles: The National Association of Realtors' Code of Ethics
consists of:
2/9
