Champions Texas Real Estate NationalState Exam Flashcards

Champions Texas Real Estate National/State Exam Flashcards

invalidA contract which has no force or effect is said to be:

Regulation of coastal properties, floodplains, and wetlandsWhich of the following would NOT be an example of police power?Real PropertyLand, improvements attached to the land, benefits, rights, and ownership interests that go with the land.43,560How many square feet in an acre?When the license holder meets face to face with a party concerning a proposed real estate The statutory information statement about agency must be

provided:

house numberThe description of real estate in a deed is NOT adequate if

described by:

A tractorThe only item of "chattel" among the following is:

EasementsAllows limited use or enjoyment of another's land. It is a right in land and should be created in writing and recorded.It is use without possession.

a power of attorneyAn attorney in fact is the holder of:

housing projectsOne of the following types of real estate which is NOT

considered commercial property is:

A Write of ExecutionA court order directing the county sheriff to seize and sell property of a debtor to satisfy a lien to remove a defect in the titleA quitclaim deed is generally used under which of the following conditions?Market ValueThe selling price of residential property is most often

determined by:

the person whose property rights are transferred The person who executes a deed is: remains binding on the new owner unless otherwise stipulated in the lease itself

When real estate under lease is sold, the lease:

Real Estate Settlement Procedures ActRESPA stands for:

EscheatWhen dying intestate and leaving no heirs, a person's

property passes to the state by:

EncroachmentWhen a structure or improvement overlaps onto another's property.Protects the buyerThe standard policy of title insurance AppurtenanceIs often used to describe rights, privileges or improvements that belong to and pass with the land.

liquidation of debts by installmentsAmortization is the process of:

a lienTaxes on real estate automatically become:

Lends money to mortgagorA mortgagee is a person who:

Voluntary alienationA person who transfers title to another by deed is said to

have divested title by:

Withdraw from the transactionThe broker must obey all instructions made to him by his principal. Should the principal instruct the broker to violate

the law, the broker should:

Statue of FraudsThe law which requires certain contracts to be in writing to be enforceable is called the

A lienRecording a mortgage creates:

Personal Propertya right or interest in things of a temporary or movable nature; anything not classified as real property.Rescissionthe termination of a contract by mutual agreement of the parties AnnexationThe process of attaching personal property so that it becomes real property thus creating a fixture A release of lienWhen there is a mortgage on your home and you pay it off,

you receive:

no cause of actionBreach of an oral agreement of sale results in

invalidAn option given without actual consideration is:

on commercial and investment property rented to tenantsIncome approach for an appraisal would be most widely

used:

Improvementsman's additions to the land such as buildings and landscaping.power of attorneyThe authorization for a person to act for and in behalf of

another is called:

Land has four economic characteristics:scarcity, modification, fixity, situs

a net listingA listing to sell property and obtain a fixed specific price for

the owner:

Functional ObsolescenceThe loss of value of a home due to it being considered out

of date is called:

Survey, with corners staked, by a licensed surveyorTo ascertain the exact boundary lines of property, one should obtain a discrimination on the basis of ageAll of the following acts are forbidden by the Federal Fair Housing Law except PrescriptionWhich of the following would NOT terminate an easement?

An appraisalA report setting forth the estimate of value of real estate is:

deviseA person who has real property willed to her by a relative is

said to acquire title by:

Written or spokenExpress means:

broker and principalAn example of a fiduciary relationship is that which exists between Assesed Valuationthe tax on a given piece of real estate is determined by

multiplying the tax rate of the assessing body by the:

subject to disciplinary actionA broker who acts for more than one party in a real estate transaction without the knowledge and consent of all

parties is:

SellerTo be enforceable, a listing agreement must be signed by

the:

a lending institutionA mortgage insured by the FHA is usually borrowed from:

A Blanket MortgageThe owner of 5 parcels of property desires a mortgage loan and offers all 5 parcels as security. The mortgage he will

generally be required to execute is called: