AYPO Real Estate Principles of Real Estate UPDATED ACTUAL
Questions and CORRECT Answers
TREC has the authority under TRELA to suspend or even They conduct the unlawful practice of law
revoke a broker's license if:
ESAC stands for: Education Standards Advisory Committee
What refers to a location from an economic rather than a Situs.
geographic standpoint?
Which amendment guarantees that a citizen will not be 5th Amendment.
deprived of property without due process of law?
The CFPB is the: Consumer Financial Protection Bureau
A professional organization or association is usually a further a particular profession and the interests of individuals engaged in that
not-for-profit organization that seeks to: profession.
A contraction or generally slowing down of the economy Recession.
is a:
, What is the primary purpose for real estate licensing 1. To protect the general public during real estate transactions from dishonest or
laws? incompetent brokers and sales agents.
2. To set out minimum standards and qualifications for licensing brokers and sales
agents.
3. To protect licensed brokers and sales agents from unfair or improper
competition.
Per 1101.2051(b), information or material prepared or to the respondent of the complaint.
compiled by the commission in connection with a
complaint, investigation, or audit may be disclosed:
What type of property category includes churches, other Special-purpose.
places of worship, schools and colleges, cemeteries and
certain government-held properties?
Emblements are best described by which of the Harvestable plants, trees, and uncultivated vegetation.
following?
A manufactured home can be considered real property 1. both the Texas Department of Housing and Community Affairs and the home's
if: county's chief tax appraiser have been notified of the filing
2. a certified copy of the "Statement of ownership and location" for the home has
been filed by the owner in the real property records of the county where the
home is located
3. the owner of the home has elected to treat the home as their real property
The number one reason that people move is: Employment opportunity
How much money can a first time homebuyer draw from $10,000
his or her own IRA without tax penalty for the purchase?
According to the Texas Department of Insurance, most 1. Loss of use.
homeowners policies in Texas include which of the 2. Medical payments.
following coverages? 3. Dwelling.
A C.L.U.E. report advises a consumer on: up to seven years of claims history on a property
Prior to the introduction of the condominium concept, Land.
property ownership had been limited to ownership of...
All the meanings of agent and agency refer to someone Acts on behalf of someone else to perform a task or range of tasks.
who does which of the following? (Best answer.)
An appointed licensee must do which of the following? Not disclose that an owner would accept a price lower than the asking price
Which of the following fulfills Section 1101.806 of TRELA The agreement to pay was in writing and signed by the party to be charged
requirements for compensation?
Questions and CORRECT Answers
TREC has the authority under TRELA to suspend or even They conduct the unlawful practice of law
revoke a broker's license if:
ESAC stands for: Education Standards Advisory Committee
What refers to a location from an economic rather than a Situs.
geographic standpoint?
Which amendment guarantees that a citizen will not be 5th Amendment.
deprived of property without due process of law?
The CFPB is the: Consumer Financial Protection Bureau
A professional organization or association is usually a further a particular profession and the interests of individuals engaged in that
not-for-profit organization that seeks to: profession.
A contraction or generally slowing down of the economy Recession.
is a:
, What is the primary purpose for real estate licensing 1. To protect the general public during real estate transactions from dishonest or
laws? incompetent brokers and sales agents.
2. To set out minimum standards and qualifications for licensing brokers and sales
agents.
3. To protect licensed brokers and sales agents from unfair or improper
competition.
Per 1101.2051(b), information or material prepared or to the respondent of the complaint.
compiled by the commission in connection with a
complaint, investigation, or audit may be disclosed:
What type of property category includes churches, other Special-purpose.
places of worship, schools and colleges, cemeteries and
certain government-held properties?
Emblements are best described by which of the Harvestable plants, trees, and uncultivated vegetation.
following?
A manufactured home can be considered real property 1. both the Texas Department of Housing and Community Affairs and the home's
if: county's chief tax appraiser have been notified of the filing
2. a certified copy of the "Statement of ownership and location" for the home has
been filed by the owner in the real property records of the county where the
home is located
3. the owner of the home has elected to treat the home as their real property
The number one reason that people move is: Employment opportunity
How much money can a first time homebuyer draw from $10,000
his or her own IRA without tax penalty for the purchase?
According to the Texas Department of Insurance, most 1. Loss of use.
homeowners policies in Texas include which of the 2. Medical payments.
following coverages? 3. Dwelling.
A C.L.U.E. report advises a consumer on: up to seven years of claims history on a property
Prior to the introduction of the condominium concept, Land.
property ownership had been limited to ownership of...
All the meanings of agent and agency refer to someone Acts on behalf of someone else to perform a task or range of tasks.
who does which of the following? (Best answer.)
An appointed licensee must do which of the following? Not disclose that an owner would accept a price lower than the asking price
Which of the following fulfills Section 1101.806 of TRELA The agreement to pay was in writing and signed by the party to be charged
requirements for compensation?
