RE: 1 practice Q's

There are ___ members of the education standards advisory committee

12

A home inspector provides a report on a property's structure, systems, and site conditions. To whom is the report provided?

Buyer

Clarisse, your client is a traveling salesperson. What type of housing would she likely prefer?

Condominium, for its easy living

Which area of real estate law governs the use of contracts, explains the elements required to make a contract valid, and describes what happens if a breach of contract should occur?

Contract Law

If a license uses escrow funds belonging to one client to assist another client, that license could be found guilty of ____.

Conversion

Javier represents Marcus, who's selling his rental property to Ben. Ben is represented by another real estate licensee, Francis. What is Ben's relationship to Javier?

Customer

What's the point from which elevation is measured?

Datum

What type of involuntary lien is placed on a person's estate after their death if there are unpaid debts to creditors?

Deceased person's debt lien

Which of the following states that the person who committed the fraud, as well as anyone who knew about the fraud, failed to disclose it, and benefited from it, can be held liable for actual damages?

Fraud in real estate and stock transactions

To what type of estate does pur autre vie apply?

Freehold estate

Harmony is looking at the legal description on her purchase contract. It mentions that the plat of her property is recorded in Map Book 12, page 14, at the county courthouse. What type of legal description is this?

Lot and Block

Eric is a new licensee who wants to specialize in manufacturing and large office buildings. He is probably interested in which type of specialization?

Mixed use

Who are the parties to a property management agreement?

Owner and property manager

In the real estate business, whose primary role is it to make improvements to land?

Real estate developer

What's the name of a discriminatory lending practice whereby lenders limit the scope of their loans to exclude neighborhoods with certain ethnic or economic characteristics?

Redlining

Deed restrictions imposed by a developer who wants to maintain specific standards in a subdivision under development are often called _____.

Restrictive covenants

What's the term for the illegal practice of nudging buyers away from of toward a specific area based on the presence or absence of protected class members?

Steering

You are the Texas agent for the buyers, the Jansens. The Yothers are the sellers, and their mortgage holder is Richard Steele. To which of these parties must you disclose your agency status?

The Yothers Only.

Sherman is a listing agent. At what point is he no longer obligated to present offers to his seller client?

The sale has closed

Which of the following best describes a net listing?

The seller specifies a desired price for the property and agrees to pay the broker any amount received thats more than that price.

Which of the following best describes condominium ownership?

The space inside the unit itself belongs to the unit owner, and all owners also share in the ownership of the common elements.