Texas Principles of Real Estate 1: Quiz Questions Flashcards

Texas Principles of Real Estate 1: Quiz Questions Flashcards

General AgentA property manager is an example of what type of agent...?Universal AgentSpecific AgentGeneral AgentSpecial Agent UnenforceableOral listing agreements between a seller and a broker are...?VoidUnenforceableExpressExecuted All of the AboveWhich of the following is one of the TREC canons of professional ethics...?FidelityCompetencyIntegrityAll of the above All of the AboveHUD fair housing complaints can be filed in which of the following ways...?MailPhoneOnlineAll of the above Refusing to Sell to a Protected ClassWhich of the following is considered illegal under the Fair Housing Act...?Refusing to show properties in neighborhoods based on racial criteriaRefusing to sell to a protected classRefusing to show properties in neighborhoods based on religious criteriaAll of the above Community Reinvestment ActThis federal law requires all federally regulated lenders to describe the geographic market area that they serve...?Community Reinvestment ActADACivil Rights Act of 1968Housing and Urban Development Act Licensed Texas AttorneysWhich of the following is exempt from holding a real estate license...?Real estate salespersonReal estate brokerAssociate brokerLicensed Texas attorneys FidelityIn addition to the loyalty owed by an agent to his/her client, the agent must also act fairly to other customers in the transaction. This is an example of...?ObedienceIntegrityFidelityCompetency Freehold EstateA fee simple estate is an example of which of the following estates...?Freehold EstateLeasehold EstateAll of the aboveLand Estate All of the AboveIf an agent does not abide by the TREC canons of professional ethics, which of the following may occur...?The agent may be placed on probationThe agent's license can be suspendedThe agent's license can be revokedAll of the above Equal Opportunity HousingThe laws governing fair housing are also referred to as...?Federal HousingEqual Opportunity HousingFree HousingCivil Rights Housing Consumer Information Form 1-1This form must be posted in brokerage offices...?Purchase Agreement FormHUD-1 FormConsumer Information Form 1-1All of the above

Physical ImpairmentAny medical disorder, condition, disfigurement or loss affecting one of the body systems is known as a...?Physical ImpairmentMental ImpairmentDisorderHandicap Express AgencyAn agency relationship created by oral or written agreement between the principal and the agent is known as...?General AgencyBrokerageImplied AgencyExpress Agency Bilateral ContractA listing contract is an example of a/an...?Bilateral contractUnilateral contractImplied contractVoid contract CompetencyExercising judgment and skill in the performance of an agent's practice is also known as...?ObedienceLoyaltyFidelityCompetency Metes and BoundsThis refers to a term used in describing the boundary lines of land, setting forth all the boundary lines together with their terminal points and angles...?Plot MapLot and BlockMetes and BoundsGovernment Survey Legal DescriptionMetes and bounds is an example of a...?Key PlanTownshipSite PlanLegal Description CompetencyAn agent should be informed on market conditions affecting the real estate business. This is an example of...?FidelityCompetencyLoyaltyAll of the above CooperativeWhich of the following is NOT a form of real property...?CooperativeCondominiumTownhouseSingle family house Personal PropertyA refrigerator is typically considered...?FixtureReal PropertyPersonal PropertyEmblements Surface RightsMineral rights are typically considered dominant to which of the following rights...?Sub-surface rightsNone of the aboveAir rightsSurface rights Buyer Representation AgreementWhen a real estate broker represents a buyer in a transaction, the broker and buyer are bound by which of the following contracts...?Buyer Representation AgreementListing AgreementAll of the abovePurchase Agreement CondominiumA form of ownership of real property recognized in all states that consists of individual ownership of some aspects and co-ownership in other aspects of the property is known as a...?CooperativePUDCondominiumTownhouse C.O.A.L.D.Which of the following acronyms summarizes the fiduciary duties a broker owes to his/her principal...?C.O.A.L.D.O.L.D.C.AW.B.V.A.C.A.T.T.L.Personal PropertyMobile homes not permanently attached to the land are generally considered...?Trade FixturesFixturesReal PropertyPersonal Property

End PointWhen using the metes and bounds method to describe property, the origin point is also the...?DatumEnd pointReference pointBase point CompetencyThe intricacies in marketing properties for others involves...?CompetencyFidelityObedienceLoyalty FiduciaryReal estate brokers have a ................... relationship with the principal?UniversalFiduciarySpecialGeneral Void ContractIf a contract is not for a legal purpose, it is considered a/an...?Void contractEnforceable contractExecuted contractExecutory contract 144 square inches1 square foot is equal to...?100 square inches144 square inches640 square inches1,000 square inches Easement in GrossWhich of the following easements is commonly used by utility companies...?Easement by necessityEasement by prescriptionEasement in grossEasement appurtenance Real Estate BrokerWho is legally entitled to receive a commission from a principal for a sale or rental of the principal's property...?Associate real estate salespersonReal estate brokerReal estate salespersonAll of the above Converted-Use PropertyA local real estate developer bought an abandoned school building with the intention of converting it to residential units. This is an example of a...?Planned Unit DevelopmentConverted-use propertyAll of the aboveCooperative ResidentialThe market comparison approach is commonly used for this property type...?Mixed-useIndustrialResidentialCommercial Eminent DomainA right of the government to acquire property for necessary public use by condemnation is known as...?EscheatNovationEminent DomainPolice Power A Homeowner Looking to Sell Their House on Their OwnWhich of the following is exempt from holding a real estate license...?A homeowner looking to sell their house on their ownReal estate brokerReal estate salespersonAssociate broker Specific PerformanceThe sale of a property as an alternative to damages is an example of...?Executed performanceSpecial performanceSpecific performanceGeneral performance SupplyThe amount of goods offered for sale within a given market at a given price during a given time period is known as...DemandGDPSupplyNone of the above Kitchen CabinetsWhich of the following is an example of a fixture...?CurtainsRemovable bookshelvesRugsKitchen cabinets Legal AdviceReal estate salespersons should not provide which of the following to their clients...?Market updatesMarketing

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