Principles of Real Estate 1- Champions School of Real Estate Exam 2023/2024 Graded A+ a freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of A.) scarcity B.) Fixity C.) Situs D.) Modification - Correct Answer D.) Modification The supply of Real Estate is affected by A.) Land cost B.) Building codes C.) Government regulations D.) All of these - Correct Answer D.) All of these
The least important factor affecting demand for real estate is:
A.) Population Growth B.) Personal Preference C.) Availability of Credit D.) Transportation Systems - Correct Answer B.) Personal Preference A lawsuit was tried on a real estate matter. The judge ruled in the case, citing the decision of a judge in a similar case that was tried ten years ago. The judges decision in
the case was most likely based upon:
A.) Statutory Law B.) Civil Law C.) Common Law D.) Local ordinance - Correct Answer C.) Common Law A license holder was tried in a state district court on a complaint arising from a real estate transaction. The court ruled that, among other transgressions, the defendant had violated the Texas Real Estate License Act. This decision of the judge was based upon: A.) Statutory law B.) Civil Law C.) Common Law D.) Local Ordinance - Correct Answer A.) Statutory Law
RMLOs in Texas are licensed through:
A.) Texas Real Estate Commission B.) National Mortgage Bankers Association C.) Texas Department of Savings and Mortgage Lending 1 / 2
D.) Texas savings and loan board - Correct Answer C.) Texas Department of Savings and Mortgage Lending A Freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic
characteristics of:
A.) Scarcity B.) Fixity C.) Situs D.) Modification - Correct Answer D.) Modification
Air Rights are commonly leased or conveyed in:
A.) Cell tower leases B.) Condominiums C.) Outdoor Advertising D.) All of these are correct - Correct Answer D) all of these
Building, roads and fences are all examples of:
A.) Personal Property B.) Private Property C.) Improvements D.) Public Property - Correct Answer C.) Improvements If a tenant fails to remove trade fixtures from the leased premises, the fixtures become
the property of the landlord through:
A.) Remediation B.) Adverse Possession C.) Accession D.) Descent - Correct Answer C.) Accession Effective in 1976, manufactured homes have been built according to a building code
administered by:
A.) Local building departments B.) State code enforcement
C.) HUD
D.) FHA - Correct Answer C.) HUD Homes that are built in sections according to local building codes and assembled on the
job site are known as:
A.) Trailers B.) Mobile Homes C.) Modular Homes D.) Site built Homes - Correct Answer C.) Modular Homes
Manufactured home dealers and sales people in Texas are licensed by:
A.) TREC
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