ACEABLE AGENT- PRINCIPLES OF
REAL ESTATE EXAM 1 FINAL TEXAS
QUESTIONS & ANSWERS RATED
100% COMPLETE
Exclusive right to sell - correct answer ✔✔agreement guarantees the agent's brokerage receives
a commission if the property is sold, regardless of who brings the buyer
Lead based paint - correct answer ✔✔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
In Writing - correct answer ✔✔For a listing agreement to be enforceable in court, it MUST be:
Trust Tenancy - correct answer ✔✔Which one of the following is NOT a type of co-ownership?
limited partnership - correct answer ✔✔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
creditors - correct answer ✔✔Texas homestead laws protect homeowners from:
abstract of title - correct answer ✔✔What is the history of the title to a property called?
Littoral rights - correct answer ✔✔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?
,Riparian Rights - correct answer ✔✔Rights that govern the use of flowing water, such as rivers
and streams that pass through or border a property are known as:
cloud on title - correct answer ✔✔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?
sue for compensatory damages, specific performance or both - correct answer ✔✔When there
is a breach of contract, the non-breaching party can rescind the contract, forfeit the contract,
or:
Air Lot - correct answer ✔✔space above a parcel of land called
contour maps - correct answer ✔✔Where can developers find information about the terrain
and elevation for a given parcel
rectangular survey method - correct answer ✔✔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
bench mark - correct answer ✔✔A monument used to establish the elevation of the point,
usually relative to Mean Sea Level. It is permanent.
government survey system - correct answer ✔✔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...
Metes and Bounds - correct answer ✔✔Land in Texas was originally identified by
, all of the above - correct answer ✔✔Which of the following is an example of a monument...?A)
A treeB) A postC) A streamD) All of the above
metes & bounds - correct answer ✔✔Describes the perimeter of the subject property in terms
of boundaries directions and distance
range - correct answer ✔✔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
what objects are used to mark surveys - correct answer ✔✔A natural object such as a Tree or
stream in rural settings but generally they are manmade like post, stakes, or iron pikes.
What is the rectangular survey system? Do we use it in Texas? - correct answer ✔✔The
rectangular 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
When do we use the rectangular system in Texas for descriptions? - correct answer ✔✔We use
them when we are doing section measurements
section - correct answer ✔✔Established by a government survey and contains 640 acres and is
one mile square.
43,560 sq.ft - correct answer ✔✔1 acre in sqft
50,000 - correct answer ✔✔max settlement amount you can receive from TREC
REAL ESTATE EXAM 1 FINAL TEXAS
QUESTIONS & ANSWERS RATED
100% COMPLETE
Exclusive right to sell - correct answer ✔✔agreement guarantees the agent's brokerage receives
a commission if the property is sold, regardless of who brings the buyer
Lead based paint - correct answer ✔✔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
In Writing - correct answer ✔✔For a listing agreement to be enforceable in court, it MUST be:
Trust Tenancy - correct answer ✔✔Which one of the following is NOT a type of co-ownership?
limited partnership - correct answer ✔✔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
creditors - correct answer ✔✔Texas homestead laws protect homeowners from:
abstract of title - correct answer ✔✔What is the history of the title to a property called?
Littoral rights - correct answer ✔✔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?
,Riparian Rights - correct answer ✔✔Rights that govern the use of flowing water, such as rivers
and streams that pass through or border a property are known as:
cloud on title - correct answer ✔✔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?
sue for compensatory damages, specific performance or both - correct answer ✔✔When there
is a breach of contract, the non-breaching party can rescind the contract, forfeit the contract,
or:
Air Lot - correct answer ✔✔space above a parcel of land called
contour maps - correct answer ✔✔Where can developers find information about the terrain
and elevation for a given parcel
rectangular survey method - correct answer ✔✔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
bench mark - correct answer ✔✔A monument used to establish the elevation of the point,
usually relative to Mean Sea Level. It is permanent.
government survey system - correct answer ✔✔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...
Metes and Bounds - correct answer ✔✔Land in Texas was originally identified by
, all of the above - correct answer ✔✔Which of the following is an example of a monument...?A)
A treeB) A postC) A streamD) All of the above
metes & bounds - correct answer ✔✔Describes the perimeter of the subject property in terms
of boundaries directions and distance
range - correct answer ✔✔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
what objects are used to mark surveys - correct answer ✔✔A natural object such as a Tree or
stream in rural settings but generally they are manmade like post, stakes, or iron pikes.
What is the rectangular survey system? Do we use it in Texas? - correct answer ✔✔The
rectangular 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
When do we use the rectangular system in Texas for descriptions? - correct answer ✔✔We use
them when we are doing section measurements
section - correct answer ✔✔Established by a government survey and contains 640 acres and is
one mile square.
43,560 sq.ft - correct answer ✔✔1 acre in sqft
50,000 - correct answer ✔✔max settlement amount you can receive from TREC
