Principles Of Real Estate 1 Exam Questions (60 Terms) With Verified Definitions Updated 2024

The Civil Rights Act of ________ offers protection from discrimination based on race, religion and national origin. {Ans: 1968}The aspect of real estate business that is concerned with bringing together the parties and completing the transactions is: {Ans: `Brokerage}Which of the following methods of describing land does not qualify as a legal description in a deed? {Ans: Street address}Agency agreements such as listings and buyer representation agreement: {Ans: -Are employment contracts -Should be in writing -Established the principal client relationship}A record plat is required for which method of legal description? {Ans: Lot ans block}The organization that has the authority to issue and revoke real estate license is: {Ans: TREC}Ad valorem taxes: {Ans: -Are according to value -Create the highest priority lien on real property -Are always paid first at a foreclosure sale}Fidelity is best described as : {Ans: The duty of a license holder to represent the best interests of his or her client}Which of the following is required for a Government Survey description of land? {Ans: -Townships -Sections -Ranges}When a holdover tenant refuses to leave and is not paying rent, his interest in the property is called: {Ans: Tenancy