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TEXAS PRINCIPLES 1 EXAM
PRACTICE QUESTIONS W ITH
100%CORRECT ANSWERS -
CHAMPIONS SCHOOL OF REAL
ESTATE
Question 1: Courses for the renewal of an active real
estate broker or sales agent license are called
CORRECT ANSWER: continuing education (CE)
Question 2: What is the maximum amount that the
Commission will pay from the real estate recovery trust account for claims against any one license holder, until the account has been repaid in full by the license holder?
CORRECT ANSWER: $100,000
Question 3: Which is owned by the tenant?
CORRECT ANSWER: a trade fixture
Question 4: Which of the following terms refers not only
to the surface of the earth but also below to the center of
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the earth, above to infinity, and natural things permanently attached but does NOT refer to artificial things permanently attached?
CORRECT ANSWER: land
Question 5: If the court learns that the seller placed a sign
that said "Not Included" on the stove every time a buyer looked at the property, the court will consider which of the following in determining whether the stove is a fixture, absent a written agreement?
CORRECT ANSWER: Intention of the parties
Question 6: What type of estate is complete ownership
and exists for an unlimited time?
CORRECT ANSWER: fee simple
Question 7: If a condition of ownership is violated, title to
the subject property automatically reverts to the original owner in
CORRECT ANSWER: a determinable fee estate
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Question 8: An urban homestead is limited to a lot or lots
NOT to exceed how many acres?
CORRECT ANSWER : 10
Question 9: The method used to describe real estate by
distance, direction, and boundaries is
CORRECT ANSWER: metes-and-bounds method
Question 10: Which equals one square mile or 640 acres?
CORRECT ANSWER: section
Question 11: Under the federal Fair Housing Act, real
estate organizations, such as multiple listing services, may NOT do which because someone is in a protected group?
CORRECT ANSWER: refuse membership or put
conditions on participation
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Question 12: Which aspect of the Canons of Professional
Ethics and Conduct requires the broker or sales agent to be informed on market conditions and national, state, and local developments affecting the real estate business?
CORRECT ANSWER: competency
Question 13: A complaint of discrimination brought under
the Texas Fair Housing Act can be filed with the U.S.Department of Housing and Urban Development or with
CORRECT ANSWER: the Texas Workforce
Commission Civil Rights Division
Question 14: An aggrieved person who believes illegal
discrimination has occurred may file a complaint within what time frame following the alleged discriminatory act?