Principles of Real Estate 1 Final Exam Latest Update 2025-2026 65 Questions and 100% Verified Correct Answers Guaranteed A+
A broker's compensation is - CORRECT ANSWER: Negotiable
A division of real or personal property or the proceeds therefrom among co-owners is
known as? - CORRECT ANSWER: partition
A fee simple estate is an example of which of the following estates...? - CORRECT
ANSWER: Freehold estate
A form of ownership of real property recognized in all states that consists of individual ownership of some aspects and co-ownership in other aspects of the property is known
as a? - CORRECT ANSWER: Condominium
A joint tenancy is terminated when which of the following ceases to exist...? -
CORRECT ANSWER: Interest, Title, Posession
A lien imposed against property without consent of an owner is referred to as a/an...? -
CORRECT ANSWER: involuntary lien
A means of comparing similar type properties, which have recently sold, to the subject
property is known as the? - CORRECT ANSWER: Market Comparison Approach
A mortgage payment typically includes? - CORRECT ANSWER: Interest
Principal Insurance
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A real estate agent is an example of what type of agent? - CORRECT ANSWER:
Special agent
A real estate broker is authorized to perform which of the following acts...? - CORRECT
ANSWER: Identify properties for purchase or lease
Deal or sell options on real estate Auction off real estate
A refrigerator is typically considered? - CORRECT ANSWER: Personal Property
A right acquired by one party to use the land of another party for a special purpose is
known as a...? - CORRECT ANSWER: Easement
An agency relationship created by oral or written agreement between the principal and
the agent is known as? - CORRECT ANSWER: Express agency
An agent must be honest and truthful. This is an example of...? - CORRECT ANSWER: integrity
An individual who has not owned real property for at least the previous two years is
known as a? - CORRECT ANSWER: First-time homebuyer
Any medical disorder, condition, disfigurement or loss affecting one of the body systems
is known as a...? - CORRECT ANSWER: Physical impairment
Blockbusting is also known as? - CORRECT ANSWER: panic selling
Fidelity, on TRECs canons of professional ethics, implies? - CORRECT ANSWER:
Loyalty
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