Texas Principles Of Real Estate 1: Exam Prep Correct Questions And Answers!

Property inspections must be licensed by the Texas Real Estate Commission...? True False {Ans: True}Which of the following is an example of a taxing entity...? Water districts Hospital districts School districts All of the above {Ans: All of the Above}One of the three methods of the appraisal process generally applied to income producing property, and involves a three-step process - (1) find net annual income, (2) set an appropriate capitalization rate or "present worth" factor, and (3) capitalize the income dividing the net income by the capitalization rate. {Ans: Income Approach}The Texas Real Estate Broker Lawyer Committee consists of how many members...? 6 7 11 13 {Ans: 13}The business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate. {Ans: Brokerage}The sale of the property results in the ............................ of the agency relationship? Beginning Creation Termination The agency relationship is not contingent on the sale of the property {Ans: Termination}Real estate licenses are issued for a period not to exceed how many years...? 1 2 3 4 {Ans: 2}A contract in which a property owner employs a real estate broker to market the property described