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PRINCIPLES OF REAL ESTATE 1-
CHAMPIONS SCHOOL OF REAL
ESTATE EXAM GRADED A+
Question 1: 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
Question 2: The supply of Real Estate is affected by
A.) Land cost B.) Building codes C.) Government regulations D.) All of these
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CORRECT ANSWER: D.) All of these
Question 3: 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
Question 4: 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
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D.) Local ordinance
CORRECT ANSWER: C.) Common Law
Question 5: 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
Question 6: RMLOs in Texas are licensed through: A.) Texas Real Estate Commission B.) National Mortgage Bankers Association
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C.) Texas Department of Savings and Mortgage Lending D.) Texas savings and loan board
CORRECT ANSWER: C.) Texas Department of
Savings and Mortgage Lending
Question 7: 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
Question 8: Air Rights are commonly leased or conveyed
in:
A.) Cell tower leases