Texas Real Estate Principles 1 (Practice Exam) latest correct questions and answers, Exams of Real Estate Management

Download Texas Real Estate Principles 1 (Practice Exam) latest correct questions and answers and more Exams Real Estate Management in PDF only on Docsity! Texas Real Estate Principles 1 (Practice Exam) latest correct questions and answers Courses for the renewal of an active real estate broker or sales agent license are called - >>>continuing education (CE) What is the maximum amount that the Commission will pay from the real estate recovery trust account for claims against any one license holder, until the account has been repaid in full by the license holder? - >>>$100,000 Which is owned by the tenant? - >>>a trade fixture Which of the following terms refers not only to the surface of the earth but also below to the center of the earth, above to infinity, and natural things permanently attached but does NOT refer to artificial things permanently attached? - >>>land If the court learns that the seller placed a sign that said "Not Included" on the stove every time a buyer looked at the property, the court will consider which of the following in determining whether the stove is a fixture, absent a written agreement? - >>>Intention of the parties What type of estate is complete ownership and exists for an unlimited time? - >>>fee simple If a condition of ownership is violated, title to the subject property automatically reverts to the original owner in - >>>a determinable fee estate An urban homestead is limited to a lot or lots NOT to exceed how many acres? - >>>10 The method used to describe real estate by distance, direction, and boundaries is - >>>metes-and- bounds method Which equals one square mile or 640 acres? - >>>section Under the federal Fair Housing Act, real estate organizations, such as multiple listing services, may NOT do which because someone is in a protected group? - >>>refuse membership or put conditions on participation Which aspect of the Canons of Professional Ethics and Conduct requires the broker or sales agent to be informed on market conditions and national, state, and local developments affecting the real estate business? - >>>competency. A complaint of discrimination brought under the Texas Fair Housing Act can be filed with the U.S. Department of Housing and Urban Development or with - >>>the Texas Workforce Commission Civil Rights Division An aggrieved person who believes illegal discrimination has occurred may file a complaint within what time frame following the alleged discriminatory act? - >>>ONE YEAR Appurtenant easement rights transfer with - >>>the dominant tenement An owner sells part of his land that has no access to a public road but does have access over his remaining land. This creates an easement by - >>>necessity When there are two or more liens on a property, the order in which the liens will be satisfied when the property is sold will be determined by - >>>the priority of the liens Which of the following may be a natural object, such as a tree or a boulder, or an artificial object, such as a steel rod or a stake driven into the ground? - >>>Monument "I hear they're moving in. There goes the neighborhood! Better put your house on the market before values drop!" This is an example of - >>>blockbusting Where are subdivision plats filed? - >>>In the county clerk's office of the county in which the land is located The act of channeling homeseekers to a particular area either to maintain or to change the character of a neighborhood is - >>>steering The priority of a mechanic's lien is established from the date - >>>work was begun or materials were delivered, in whole or in part Randy has constructed a fence that extends 1 foot over his lot line onto the property of a neighbor. The fence is an example of - >>>an encroachment Encumbrances on real estate - >>>may include liens, easements, and deed restrictions Which of the following BEST refers to the type of lien that affects all real and personal property of a debtor? - >>>General lien The right of defaulted taxpayers to recover their property before its sale for unpaid taxes is the - >>>equitable right of redemption Which of the following is (are) considered a lien on real estate? - >>>Unpaid mortgage loans Which of the following is NOT included in the bundle of legal rights regarding real property? - >>>Right of first refusal What is a section of land? - >>>640 acres An acre consists of how many square feet? - >>>43,560