Practice Quiz

Texas Real Estate Exam - Question List

Select how would you like to study

Study Mode Free Daily Question Test Mode
66. A property is not listed for sale. A person who wants the property executes an offer to purchase it through a real estate agent and gives the broker a $5,000 check as a deposit. The broker:
  1. Can accept the check on behalf of the property owner provided he presents the offer directly to the seller as the seller’s agent
  2. Cannot accept the check
  3. Can accept the check as the exclusive agent of the buyer
  4. None of the above
See answer
67. Which of the following is required in a valid homestead:
  1. Statement that claimant is residing on the premises and desires to claim it as a homestead
  2. Statement giving the exact cost of the homestead at time of purchase
  3. A description of the property including a description of the improvements
  4. Signature of both husband and wife
See answer
68. Which of the following is the classic definition of the boundaries of real property?
  1. The surface area indicated on a map
  2. A reasonable use of airspace and extended to the center or the earth
  3. A reasonable distance down and unlimited airspace
  4. A practical or reasonable use of the earth and unlimited airspace
See answer
69. ________________ is the term applied to a mortgage in which you make the payments every two weeks, thereby making thirteen payments a year rather than twelve. This mortgage is paid off faster than a normal mortgage.
  1. Twice-monthly mortgage
  2. Accelerated mortgage
  3. Bi-weekly mortgage
  4. None of the above
See answer
70. During Broker Shaw’s preparation of the Exclusive Authorization and right to Sell on Seller Norman’s property, Norman asked that a clause be included which would require the buyer to accept primary liability in connection with the existing loan is transferred to the buyer. Shaw should enter with of the following in Paragraph 2 of the Exclusive Authorization and Right to Sell from:
  1. Buyer to take the property “subject to” the loan
  2. Buyer to “assume” existing loan
  3. Buyer to pay all cash
  4. Buyer to make a large down payment to preclude possibility of a foreclosure
See answer

Select how would you like to study

Study Mode Free Daily Question Test Mode