THE CE SHOP PRINCIPLES OF REAL ESTATE
I EXAM REVIEW UPDATED QUESTIONS AND
ANSWERS
You represent a buyer in a transaction that includes a 2% cooperating
agent commission that will be paid by the seller. Who's your client? -
CORRECT ANSWER -Buyer
Pamela inherited a piece of property that has been in her family for
generations. She wants to find the property's exact boundaries. What
should contain this information? - CORRECT ANSWER -A legal
description of the property
Which area of real estate law covers the government's rights and
authority under eminent domain? - CORRECT ANSWER -General
property law
Which of these is something that is NOT requested in the initial fair
housing complaint form? - CORRECT ANSWER -A notarized copy of
the complaint description
Which of these statements most accurately represents existing federal
antitrust legislation? - CORRECT ANSWER -The Clayton Act
supports the Sherman Antitrust Act's purpose of prohibiting monopolies
by prohibiting mergers or acquisitions that would create a monopoly.
Which of the following is a true statement about single-family detached
homes vs. condos? - CORRECT ANSWER -All else being equal,
single-family homes typically cost more than condominiums.
,Which of the following describes a modular home? - CORRECT
ANSWER -Built using precise pieces and very energy efficient
Javier represents Marcus, who's selling his rental property to Ben. Ben is
represented by another real estate licensee, Francis. What is Ben's
relationship to Javier? - CORRECT ANSWER -Customer
Julian and Clara want to leave their real estate holdings to their children.
If at all possible, they'd like those holdings to avoid the probate process
after they're deceased. Their attorney recommends a land trust. Is there
a type of trust they could establish that would avoid probate? -
CORRECT ANSWER -Yes, a living trust would avoid probate.
In Texas, when is a licensee required to provide an agency disclosure? -
CORRECT ANSWER -At the time that the licensee is having the first
substantive dialogue about a specific property with the party whom they
are not representing in the transaction
Contracts may use the terminology ______ after the assignor's name to
make it clear that the contract is assignable. - CORRECT ANSWER -
"And/or assigns"
An agent who buys, sells, leases, or transfers easements is also known
as what kind of agent? - CORRECT ANSWER -Right-of-way agent
May listing agreements be terminated without penalty? - CORRECT
ANSWER -Yes, if both the listing broker and the seller's agree in
writing
Martha made an offer to buy Drake's home, and he accepted it. Under
the terms of the agreement, Martha was supposed to make an earnest
money deposit of $10,000, but she only put down $5,000. Drake
,accepted the lesser deposit, and the sale was ultimately finalized. This is
an example of ______. - CORRECT ANSWER -Accepting partial
performance
A lot measuring three-fourths of an acre is for sale. How many square
feet is this? - CORRECT ANSWER -32,670
(An acre is 43,560 square feet.)
What does the registration of an assumed business name with the
Secretary of State or county clerk's office in Texas show? - CORRECT
ANSWER -That the broker has the legal authority to use that name
What is a bound? - CORRECT ANSWER -A physical feature that
defines the boundaries of the land
Under TRELA, a broker is prohibited from paying someone a
commission unless what is true? - CORRECT ANSWER -The person
is a license holder.
When can specific performance be enforced under a sales contract? -
CORRECT ANSWER -One party didn't meet the terms of the
contract in the specified time frame, and is now being required to do
exactly what was agreed to in the contract.
A 4-bedroom, 4-bath 4,875 square feet house was listed at $445,000.
Andreas, the seller, accepted an offer that was 95% of the listing price.
What price per square foot did he get for the house? - CORRECT
ANSWER -$86.72
Clay is interested in purchasing a condo about a mile from the city
center. He went to the city records office to review everything that was
, filed by the condo developer. In the condominium declaration, he sees
how ownership of the common areas is shared among the ________. -
CORRECT ANSWER -Unit owners
Which of the following legal descriptions is not used in Texas? -
CORRECT ANSWER -Rectangular government survey
Texas broker Clark has grown sick of the assumed business name he's
been using for the past few years. What, if anything, must Clark do if
he's decided to stop using it? - CORRECT ANSWER -He must notify
the Commission in writing not later than the 10th day after the date the
broker stops using the assumed business name.
A landlord with a strict "no pets" policy won't rent to a woman who uses
a service animal to assist with her epilepsy. Which of the following is a
true statement about this situation? - CORRECT ANSWER -This is
discrimination based on disability.
Which of the following defines the term 'lis pendens'? - CORRECT
ANSWER -A legal notice that a lawsuit is pending that affects the title
of a property
In several states, married couples usually hold property as ______. -
CORRECT ANSWER -Community property
What term refers to the dimensions, physical features, and contours of
the land? - CORRECT ANSWER -Topography
What is a plat map? - CORRECT ANSWER -A detailed map of a
subdivision that includes boundaries, measurements, and distances
between points
I EXAM REVIEW UPDATED QUESTIONS AND
ANSWERS
You represent a buyer in a transaction that includes a 2% cooperating
agent commission that will be paid by the seller. Who's your client? -
CORRECT ANSWER -Buyer
Pamela inherited a piece of property that has been in her family for
generations. She wants to find the property's exact boundaries. What
should contain this information? - CORRECT ANSWER -A legal
description of the property
Which area of real estate law covers the government's rights and
authority under eminent domain? - CORRECT ANSWER -General
property law
Which of these is something that is NOT requested in the initial fair
housing complaint form? - CORRECT ANSWER -A notarized copy of
the complaint description
Which of these statements most accurately represents existing federal
antitrust legislation? - CORRECT ANSWER -The Clayton Act
supports the Sherman Antitrust Act's purpose of prohibiting monopolies
by prohibiting mergers or acquisitions that would create a monopoly.
Which of the following is a true statement about single-family detached
homes vs. condos? - CORRECT ANSWER -All else being equal,
single-family homes typically cost more than condominiums.
,Which of the following describes a modular home? - CORRECT
ANSWER -Built using precise pieces and very energy efficient
Javier represents Marcus, who's selling his rental property to Ben. Ben is
represented by another real estate licensee, Francis. What is Ben's
relationship to Javier? - CORRECT ANSWER -Customer
Julian and Clara want to leave their real estate holdings to their children.
If at all possible, they'd like those holdings to avoid the probate process
after they're deceased. Their attorney recommends a land trust. Is there
a type of trust they could establish that would avoid probate? -
CORRECT ANSWER -Yes, a living trust would avoid probate.
In Texas, when is a licensee required to provide an agency disclosure? -
CORRECT ANSWER -At the time that the licensee is having the first
substantive dialogue about a specific property with the party whom they
are not representing in the transaction
Contracts may use the terminology ______ after the assignor's name to
make it clear that the contract is assignable. - CORRECT ANSWER -
"And/or assigns"
An agent who buys, sells, leases, or transfers easements is also known
as what kind of agent? - CORRECT ANSWER -Right-of-way agent
May listing agreements be terminated without penalty? - CORRECT
ANSWER -Yes, if both the listing broker and the seller's agree in
writing
Martha made an offer to buy Drake's home, and he accepted it. Under
the terms of the agreement, Martha was supposed to make an earnest
money deposit of $10,000, but she only put down $5,000. Drake
,accepted the lesser deposit, and the sale was ultimately finalized. This is
an example of ______. - CORRECT ANSWER -Accepting partial
performance
A lot measuring three-fourths of an acre is for sale. How many square
feet is this? - CORRECT ANSWER -32,670
(An acre is 43,560 square feet.)
What does the registration of an assumed business name with the
Secretary of State or county clerk's office in Texas show? - CORRECT
ANSWER -That the broker has the legal authority to use that name
What is a bound? - CORRECT ANSWER -A physical feature that
defines the boundaries of the land
Under TRELA, a broker is prohibited from paying someone a
commission unless what is true? - CORRECT ANSWER -The person
is a license holder.
When can specific performance be enforced under a sales contract? -
CORRECT ANSWER -One party didn't meet the terms of the
contract in the specified time frame, and is now being required to do
exactly what was agreed to in the contract.
A 4-bedroom, 4-bath 4,875 square feet house was listed at $445,000.
Andreas, the seller, accepted an offer that was 95% of the listing price.
What price per square foot did he get for the house? - CORRECT
ANSWER -$86.72
Clay is interested in purchasing a condo about a mile from the city
center. He went to the city records office to review everything that was
, filed by the condo developer. In the condominium declaration, he sees
how ownership of the common areas is shared among the ________. -
CORRECT ANSWER -Unit owners
Which of the following legal descriptions is not used in Texas? -
CORRECT ANSWER -Rectangular government survey
Texas broker Clark has grown sick of the assumed business name he's
been using for the past few years. What, if anything, must Clark do if
he's decided to stop using it? - CORRECT ANSWER -He must notify
the Commission in writing not later than the 10th day after the date the
broker stops using the assumed business name.
A landlord with a strict "no pets" policy won't rent to a woman who uses
a service animal to assist with her epilepsy. Which of the following is a
true statement about this situation? - CORRECT ANSWER -This is
discrimination based on disability.
Which of the following defines the term 'lis pendens'? - CORRECT
ANSWER -A legal notice that a lawsuit is pending that affects the title
of a property
In several states, married couples usually hold property as ______. -
CORRECT ANSWER -Community property
What term refers to the dimensions, physical features, and contours of
the land? - CORRECT ANSWER -Topography
What is a plat map? - CORRECT ANSWER -A detailed map of a
subdivision that includes boundaries, measurements, and distances
between points
