Package deal
CHAMPION REAL ESTATE TESTS COMPILATION BUNDLE
CHAMPION REAL ESTATE TESTS COMPILATION BUNDLE
[Show more]CHAMPION REAL ESTATE TESTS COMPILATION BUNDLE
[Show more]Contracts with a person who lacks mental capacity can be correct answer: either void or voidable 
 
Community property is a concept of correct answer: Spanish law, and marriage is regarded as a partnership. 
 
Intermediary Without Appointments. correct answer: an agent will have the opportunity t...
Preview 2 out of 10 pages
Add to cartContracts with a person who lacks mental capacity can be correct answer: either void or voidable 
 
Community property is a concept of correct answer: Spanish law, and marriage is regarded as a partnership. 
 
Intermediary Without Appointments. correct answer: an agent will have the opportunity t...
Search Engine Optimization (SEO) correct answer: The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. 
 
Fcebook Live correct answer: Video streaming through facebook. 
 
CoStar Database co...
Preview 4 out of 51 pages
Add to cartSearch Engine Optimization (SEO) correct answer: The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. 
 
Fcebook Live correct answer: Video streaming through facebook. 
 
CoStar Database co...
Buyer Representation Agreement correct answer: An employment contract obligating a broker to act as a fiduciary to a buyer 
 
Implied Agency correct answer: Agency as a result of customary, usual or typical conditions 
 
Broker correct answer: A properly licensed party who serves a principal in a...
Preview 3 out of 21 pages
Add to cartBuyer Representation Agreement correct answer: An employment contract obligating a broker to act as a fiduciary to a buyer 
 
Implied Agency correct answer: Agency as a result of customary, usual or typical conditions 
 
Broker correct answer: A properly licensed party who serves a principal in a...
Loan-to-Value Ratio (LTV) correct answer: The percentage of the lesser of the appraised value or sales price that the lender will lend. 
 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. 
 
Packag...
Preview 3 out of 27 pages
Add to cartLoan-to-Value Ratio (LTV) correct answer: The percentage of the lesser of the appraised value or sales price that the lender will lend. 
 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. 
 
Packag...
brokerage correct answer: the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships 
 
The role of a property manager correct answer: Generally responsible for the da...
Preview 3 out of 23 pages
Add to cartbrokerage correct answer: the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships 
 
The role of a property manager correct answer: Generally responsible for the da...
Champions School of Real Estate (Real Estate Salesperson State Prep Exam 1) Questions With Complete Solutions
Preview 3 out of 16 pages
Add to cartChampions School of Real Estate (Real Estate Salesperson State Prep Exam 1) Questions With Complete Solutions
In ______ the Texas Real Estate Commission was established to administer and enforce the TRELA. correct answer: 1949 
 
TREC has only _______ promulgated lease forms. correct answer: 2 
 
In the TAR® Seller's Disclosure the seller should _______. 
 
a. prepare the disclosure when the listing is ...
Preview 4 out of 87 pages
Add to cartIn ______ the Texas Real Estate Commission was established to administer and enforce the TRELA. correct answer: 1949 
 
TREC has only _______ promulgated lease forms. correct answer: 2 
 
In the TAR® Seller's Disclosure the seller should _______. 
 
a. prepare the disclosure when the listing is ...
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 
 
The supply of Real Estate is aff...
Preview 3 out of 28 pages
Add to cartA 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 
 
The supply of Real Estate is aff...
Chapter 4 National Real Estate Exam Prep (Champions School of Real estate) Questions With Complete Solutions
Preview 2 out of 5 pages
Add to cartChapter 4 National Real Estate Exam Prep (Champions School of Real estate) Questions With Complete Solutions
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 
 
The supply of Real ...
Preview 3 out of 17 pages
Add to carta 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 
 
The supply of Real ...
appurtenance correct answer: term used to describe rights, privileges or improvements that belong to and pass with the land 
 
improvements correct answer: man's additions to the land such as building and landscaping 
 
personal property correct answer: also called chattel or personalty; a right...
Preview 3 out of 19 pages
Add to cartappurtenance correct answer: term used to describe rights, privileges or improvements that belong to and pass with the land 
 
improvements correct answer: man's additions to the land such as building and landscaping 
 
personal property correct answer: also called chattel or personalty; a right...
The minimum downpayment on a VA loan is: 
 
(a) 2% of the sales price 
 
(b) 0% of the sales price 
 
(c) 3.75% of the sales price 
 
(d) 1% of the sales price correct answer: B 
 
_________ is the process of creating a new mortgage loan. 
 
(a) Origination 
 
(b) Funding 
 
(c) Underwriting...
Preview 3 out of 23 pages
Add to cartThe minimum downpayment on a VA loan is: 
 
(a) 2% of the sales price 
 
(b) 0% of the sales price 
 
(c) 3.75% of the sales price 
 
(d) 1% of the sales price correct answer: B 
 
_________ is the process of creating a new mortgage loan. 
 
(a) Origination 
 
(b) Funding 
 
(c) Underwriting...
The principal is also known as correct answer: client 
 
fiduciary relationship correct answer: a relationship founded on trust and confidence 
 
Agency Relationship correct answer: Exists when one person (the agent) acts for, or on 
behalf of another person (the principal). 
 
the principal corr...
Preview 2 out of 13 pages
Add to cartThe principal is also known as correct answer: client 
 
fiduciary relationship correct answer: a relationship founded on trust and confidence 
 
Agency Relationship correct answer: Exists when one person (the agent) acts for, or on 
behalf of another person (the principal). 
 
the principal corr...
if you are holding undeveloped land, your goal as an investment is: correct answer: appreciation 
 
land is referred to as _____ because it can be seen touched correct answer: tangible 
 
Formaldehyde gas is: correct answer: Colorless 
 
Local governments can use which of the following to enforce...
Preview 2 out of 8 pages
Add to cartif you are holding undeveloped land, your goal as an investment is: correct answer: appreciation 
 
land is referred to as _____ because it can be seen touched correct answer: tangible 
 
Formaldehyde gas is: correct answer: Colorless 
 
Local governments can use which of the following to enforce...
Appurtenance correct answer: rights, privilege or iimprovements that belong to and pass with the land 
 
Personal Property Synonyms correct answer: -Chattel 
-Personalty 
 
Annexation correct answer: -Fixtures are attached to property via _______ 
 
Emblements correct answer: -crops cultivated a...
Preview 4 out of 52 pages
Add to cartAppurtenance correct answer: rights, privilege or iimprovements that belong to and pass with the land 
 
Personal Property Synonyms correct answer: -Chattel 
-Personalty 
 
Annexation correct answer: -Fixtures are attached to property via _______ 
 
Emblements correct answer: -crops cultivated a...
Most common reason a property fails to sell is correct answer: price 
 
Matching human needs with goods or services to meet those needs is the process of correct answer: marketing 
 
_____________________ is a key personality trait of a successful agent correct answer: problem solving 
 
3 Ways S...
Preview 3 out of 17 pages
Add to cartMost common reason a property fails to sell is correct answer: price 
 
Matching human needs with goods or services to meet those needs is the process of correct answer: marketing 
 
_____________________ is a key personality trait of a successful agent correct answer: problem solving 
 
3 Ways S...
Buffer Zone correct answer: an area of land separating one land use from another 
 
Variance correct answer: permission to violate the rules 
 
Police Power correct answer: the right of the government to regulate and control the way land is used 
 
Downsizing correct answer: Changing the zoning ...
Preview 4 out of 46 pages
Add to cartBuffer Zone correct answer: an area of land separating one land use from another 
 
Variance correct answer: permission to violate the rules 
 
Police Power correct answer: the right of the government to regulate and control the way land is used 
 
Downsizing correct answer: Changing the zoning ...
Appraisal correct answer: an appraiser's opinion of value, used to determine market value property to secure the loan 
 
Loan to Value Ratio correct answer: Percentage of value or sales price that a lender is willing to finance 
 
Desk Review correct answer: an appraisal that simply reviews a ch...
Preview 2 out of 15 pages
Add to cartAppraisal correct answer: an appraiser's opinion of value, used to determine market value property to secure the loan 
 
Loan to Value Ratio correct answer: Percentage of value or sales price that a lender is willing to finance 
 
Desk Review correct answer: an appraisal that simply reviews a ch...
appraisal correct answer: value of a property maybe affected by social, economic, govt and environmental influences 
 
Loan-to-Value Ratio (LTV) correct answer: The percentage of value or sales price that a lender is willing to finance. 
 
limited appraisal report correct answer: exterior only/dr...
Preview 2 out of 11 pages
Add to cartappraisal correct answer: value of a property maybe affected by social, economic, govt and environmental influences 
 
Loan-to-Value Ratio (LTV) correct answer: The percentage of value or sales price that a lender is willing to finance. 
 
limited appraisal report correct answer: exterior only/dr...
4 Phases of a Business cycle correct answer: 1. Prosperity 
2. Recession 
3. Contraction 
4. Recovery 
 
When is Equilibrium reached? correct answer: when demand equals supply 
 
General Business Economy and Real Estate Economy are _______? correct answer: Cyclical 
 
Does the Real Estate Cycle o...
Preview 2 out of 15 pages
Add to cart4 Phases of a Business cycle correct answer: 1. Prosperity 
2. Recession 
3. Contraction 
4. Recovery 
 
When is Equilibrium reached? correct answer: when demand equals supply 
 
General Business Economy and Real Estate Economy are _______? correct answer: Cyclical 
 
Does the Real Estate Cycle o...
Appraisal is the business of: correct answer: Providing a professional opinion of the value of real property 
 
A professional association whose local affiliates own and operate MLS systems throughout the United States is the: correct answer: NAR 
 
RMLOs in Texas are licensed through correct answ...
Preview 2 out of 14 pages
Add to cartAppraisal is the business of: correct answer: Providing a professional opinion of the value of real property 
 
A professional association whose local affiliates own and operate MLS systems throughout the United States is the: correct answer: NAR 
 
RMLOs in Texas are licensed through correct answ...
What are the 4 economic Characteristics of land correct answer: 1,Scarcity, 2, Modification, 3,Fixity 4, Situs 
 
Scarcity correct answer: Supply and demand, When there is shortage of something that and individual wants the price goes up. 
 
Situs correct answer: The location of the property or l...
Preview 2 out of 9 pages
Add to cartWhat are the 4 economic Characteristics of land correct answer: 1,Scarcity, 2, Modification, 3,Fixity 4, Situs 
 
Scarcity correct answer: Supply and demand, When there is shortage of something that and individual wants the price goes up. 
 
Situs correct answer: The location of the property or l...
The most significant type of value for 
real estate licensees is ____________ value. correct answer: market 
 
________________ is defined as the price a willing seller will sell for, and the price a willing buyer will pay, when neither is acting under exceptional pressure. correct answer: Market ...
Preview 2 out of 13 pages
Add to cartThe most significant type of value for 
real estate licensees is ____________ value. correct answer: market 
 
________________ is defined as the price a willing seller will sell for, and the price a willing buyer will pay, when neither is acting under exceptional pressure. correct answer: Market ...
Default of contract and types of damages correct answer: -In the event of default by the buyer, the seller may have several options, which include: 
-Liquidated damages. The seller can choose to accept the buyer's earnest money as liquidated damages, releasing all parties from any further obligati...
Preview 4 out of 47 pages
Add to cartDefault of contract and types of damages correct answer: -In the event of default by the buyer, the seller may have several options, which include: 
-Liquidated damages. The seller can choose to accept the buyer's earnest money as liquidated damages, releasing all parties from any further obligati...
brokerage correct answer: A business that pertains to overseeing the needs of the parties and completing a transaction they may or may not involve agency relationships 
 
Real Estate Development correct answer: Involves the acquisition of land for development into residential subdivisions, retail ...
Preview 2 out of 10 pages
Add to cartbrokerage correct answer: A business that pertains to overseeing the needs of the parties and completing a transaction they may or may not involve agency relationships 
 
Real Estate Development correct answer: Involves the acquisition of land for development into residential subdivisions, retail ...
Rights, privileges or improvements that belong to and pass with land. correct answer: Appurtenance 
 
Man made additions to the land such as buildings and landscaping. Also known as free standing correct answer: Improvements 
 
Right or interest in something that is temporary or movable by nature....
Preview 3 out of 17 pages
Add to cartRights, privileges or improvements that belong to and pass with land. correct answer: Appurtenance 
 
Man made additions to the land such as buildings and landscaping. Also known as free standing correct answer: Improvements 
 
Right or interest in something that is temporary or movable by nature....
Real Property correct answer: Consists or land, improvements attached to the land, benefits, rights and ownership interests that go with the land. 
 
Appurtenance correct answer: Used to describe rights, privileges or improvements that belong to and pass with the land. 
 
Personal Property correct...
Preview 2 out of 11 pages
Add to cartReal Property correct answer: Consists or land, improvements attached to the land, benefits, rights and ownership interests that go with the land. 
 
Appurtenance correct answer: Used to describe rights, privileges or improvements that belong to and pass with the land. 
 
Personal Property correct...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller Demetrius. Stuvia facilitates payment to the seller.
No, you only buy these notes for $35.49. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
76658 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now