Texas Real Estate Principles 1 Practice Test

These questions are part of the practice quiz. Start practicing

• What type of estate is beneficial in an easement situation?
• What term refers to each owner having a right of possession to the entire property?
• Which of the following is a potential consequence of price fixing among real estate brokers?
• What is the term for directing home seekers to specific neighborhoods based on protected classes?
• What happens to the land when a life tenant dies, according to reversionary interest?
• What increases the rollback tax amount annually after appraisal?
• The person whose life is the basis for a life's estate is known as what?
• Which listing type ensures that the broker will receive a commission if the property sells while the listing is in effect, regardless of who finds the buyer?
• When is an implied agency typically established?
• Which type of listing requires the seller to pay a commission if another party sells the property?
• What term refers to a lien placed on a property that must be satisfied when the property is sold?
• Who manages the business and is financially liable within a general partnership?
• What is the process called that separates the use of property?
• What is the aim of the Sherman Antitrust Act within the real estate industry?
• What does the term "reversionary interest" describe?
• What defines anything added to land with the intention of enhancing it?
• What type of contract is considered void and will never be enforceable?
• What is a flexible business structure that combines elements of a partnership and a corporation?
• Which lien is placed on a property by operation of law?
• What type of estate allows for the transfer of ownership with conditions placed on the use of the property?
• What is the main characteristic of an unenforceable contract?
• What term describes a contract that cannot be enforced in a court of law?
• Which agency can perform a wide range of functions on behalf of the principal?
• What is the primary difference between a special agency and a general agency?
• What is the primary purpose of using a datum in surveying?
• In property rights, what is the legal term for the share of rights held by an owner?
• Which lien is placed on the property by anyone who furnished labor or materials if payment has not been received?
• What effect does an exemption have on property taxes?
• In which type of agency can the agent represent the client in any matter?
• What legal principle governs the use of water flowing through a property?
• Which legislation is known as a landmark statute in competition law that prohibits certain anti-competitive business practices?
• What is the function of the Central Appraisal District (CAD)?
• What is the government's right to take privately owned property for public use called?
• Which party has the right to request specific performance if the other party fails to perform their obligations?
• What term describes the act of using or spending money that is mixed with funds from other sources?
• In an expressed agency, what do all parties to the agreements know?
• Which civil rights legislation prohibits racial discrimination in the context of real estate?
• Which of the following is NOT an essential element of a valid contract?
• What is a Real Estate Investment Trust commonly abbreviated as?
• Which of the following best describes a voidable contract?
• What are rights or privileges attached to land that transfer with ownership?
• What is the term for the taxation method that is based on property value?
• What is an easement by necessity?
• Which term describes land that has been created by the process of accretion?
• What is the amount of the homestead exemption for property owners living on their property?
• What term refers to something that is attached to a property under a commercial lease?
• Which concept ensures that owners cannot have unequal interests in the property?
• What age qualifies an individual for an age exemption in property taxes?
• Which practice involves selling homes by exploiting fears within a neighborhood?
• Which type of ownership arrangement prevents an owner from transferring their share upon death?
• How many square feet are there in one acre?
• What conveys an estate in land for the length of a person's life?
• What is the process of gradual wearing away of land or rock by water referred to as?
• What term describes an understanding between parties that is not formally expressed?
• What kind of estate is held by only one owner?
• What exemption is provided for individuals who are over 65 years old?
• What does an owner typically receive as compensation through Eminent Domain?
• Who is the person giving land as a gift while retaining control over its use?
• Which estate is tied to the lifetime of a specific individual?
• What is the term for when land is divided into plots?
• What is it called when an owner's property value decreases due to negative changes made by the government?
• What does a net listing involve?
• What is referred to as the mill rate?
• What describes ownership by more than one person where owners may have unequal shares?
• What type of lien is placed on the property for money damages?
• What does the Unity of Time indicate in property ownership?
• What is a lien called that is placed against a property when the owner borrows money?
• What is it called when a group of brokers agree to not deal with a certain company?
• What unethical practice involves creating fear to prompt property owners to sell at a loss?
• Which of the following best describes a valid contract?
• Which surveying method uses latitude, longitude, standards, and baselines to divide the earth into areas?
• What is used to mark elevation in surveying?
• Which practice is considered illegal under the Sherman Antitrust Act?
• Each individual right within a property ownership is referred to as what?
• Which agency is responsible for appraising properties in a county for taxation purposes?
• What is the legal classification for water that is not subject to ownership?
• How is the tax rate calculated?
• What is a legal claim on someone's property as security for a debt?
• Which type of easement allows a utility company to manage infrastructure on private property?
• What are the conditions known as that must be present for Joint Tenancy?
• Which types of estates include Fee Simple Estates and life estates?
• How is implied agency created?
• What does the rectangular survey system primarily rely on for mapping land?
• How do exemptions generally affect the property tax burden of homeowners?
• What is an example of an easement that benefits one property at the expense of another?
• What term refers to land that increases in size due to natural deposits?
• What principle allows for the unrestricted right to use open beach areas?
• What type of water is publicly owned and governed by the state of Texas?
• What does "Pur Autre Vie" signify in property law?
• What conditions lead to an easement by prescription?
• How large is each township in the Rectangular Survey System?
• In what form of ownership do the four unities plus the unity of person exist?
• What act ensures the public has the right to use the open beach?
• What situation occurs when several brokers agree on a commission rate to be charged for services?
• Which form of ownership applies to married couples who do not have community property?
• Which act prohibits discrimination based on race, color, and receipt of public assistance income?
• In what type of property ownership do owners have unequal shares but may not specify their ownership arrangement?
• Which type of listing means no exclusive rights for the broker?
• What is the term for the right of the state to enforce order and protect the general welfare?
• What is the term used to describe the interest a remainderman has in a property?
• Which of the following best describes a general lien?
• What is the primary characteristic of a dominant estate?
• What is an easement appurtenant?
• Which term describes a contract that is currently in the process of being executed?
• Which term describes the sudden removal of land by water?
• What is the term for substituting one contract for another?
• What is a characteristic of an executed contract?
• What unit is equivalent to 1 square mile or 640 acres?
• What term describes the rights an owner has for their property?
• Which of the following accurately describes a recorded plat?
• What is the significance of metes and bounds in real estate?
• Which term is used for movable property that is not affixed to real estate?
• Which of the following is not a characteristic of Joint Tenancy?
• What term describes the right to use water in a river or stream?
• What is the term used for property rights that are extended from the state to local governments?
• What term refers to land, improvements, and the rights to own them in real estate?
• What is the primary purpose of zoning laws in real estate?
• What is defined as something that extends across a property line onto the property of another?
• What defines a unilateral contract?
• What type of agency has the power to bind the principal?
• Which type of agency allows the agent to do only specific acts for the client?
• What is meant by Undivided Interest in a property?
• What term describes a restriction put in place by a developer on a property?
• If a property is conveyed for a specific purpose and that purpose is not met, what is typically required for the grantor to regain the title?
• Which type of ownership interest is considered the greatest in real property?
• What is defined as a legal relationship involving a person and another who acts for the person?
• What is the doctrine that allows a landowner to pump water from under their property?
• Who is referred to as the person who will receive a property after the life tenant passes away?
• What term refers to the act of refusing to engage with other brokers or organizations?
• What term is used to describe the requirement for all owners to acquire title from the same source?
• A promise in exchange for an act describes which type of contract?
• What happens to property when a person dies without a will and without heirs?
• What term describes the process of taking land through Eminent Domain?
• Which rights allows a landowner to use water that touches their land without altering its course?
• What are the three tests to determine if an item is considered a fixture in real estate?
• Which type of partner contributes capital but has limited say in business operations?
• Which term describes an amendment or change to real property that adds value or utility?
• What is the term for a personal privilege given to someone to use the land?
• What is an encroachment primarily associated with?
• Which of the following can be classified under Freehold Estates?
• What does the acronym PITI stand for in relation to loan payments?
• Which type of contract is binding against one party but not the other?
• What does the term 'Severance Damages' refer to in the context of property law?
• Which type of listing allows the broker to retain all amounts above a stated minimum amount required by the seller?
• Which term best describes the permanence of an investment in land improvements?
• What do investors buy in a Real Estate Investment Trust?
• What does CLUE stand for in relation to insurance claims?
• Which estate is burdened by the easement?
• What situation necessitates the establishment of an easement by necessity?
• What term best describes the act of splitting up customers among competing companies?
• What happens to land during the process of reliction?
• What type of lien is considered superior and applies to property taxes?
• What act reduced several federal income taxes on Capital Gains?
• Which element is NOT required for Unity of Title?
• What is the term for an item that was once personal property but has become real estate due to attachment?
• What do you call a contract that has not been fulfilled by one or more parties?
• What practice involves companies dividing markets and agreeing not to compete against each other?
• What consequence does puffing have on real estate transactions?
• What is an easement?
• What is the purpose of special assessment taxes?
• In a Real Estate Investment Trust, what are the investors typically referred to?
• Which type of contract is characterized by a promise in exchange for a promise?
• Which legal remedy compels a party to perform their obligations under a contract?
• Which type of contract involves parties explicitly stating the terms and conditions?
• Which of the following terms refers to the concept of personal property when discussing real estate?
• In which type of tenancy do the remaining owners own the property upon the death of one of the owners?
• What is the estate that benefits from an easement?
• What type of listing allows a seller to sell the property themselves and not pay a commission to the broker?
• Which power gives the government authority to regulate property use and enforce compliance?
• What is the practice of exaggerating praise of a property to influence potential buyers?
• In the context of real estate, what does fiduciary duty primarily encompass?
• What is an encumbrance in relation to property?
• What term refers to the ownership of real property that is independent of any superior landlord?
• What is a gift of land called when the giver wishes to control its future use?
• Which act attempts to ensure equal opportunity in credit regardless of income from public assistance?
• What does the principle of Unity of Possession imply for property owners?
• What kind of contract requires both parties to fulfill agreed-upon duties?
• If gifted land is not used for its intended purpose, which right does the grantor have?
• What process occurs when the parties to a contract accept partial completion despite not fulfilling all terms?
• What reflects an agreement where one party has not completed their obligations but is accepted by the other party?
• What is the value of the disability exemption?
• What must be demonstrated for an easement by prescription to be recognized?
• What is the primary characteristic of limited partners in a partnership?
• Which method uses distance and directions to define and describe the shape and boundaries of a property?
• What unethical practice can occur when a broker exaggerates a property's features to entice buyers?
• What does equitable title provide the buyer in a property transaction?
• Which of the following is not considered a legal description of property?
• What acronym represents the four governmental rights over property?
• What term refers to individuals who invest in real estate?
• What type of lien is applicable against only one specific property?
• What type of lien is against all properties owned by a person?
• Who provides the most comprehensive financial responsibility and management in a partnership?
• Which type of legislation allows state rights to be passed to counties?
• Which of the following best describes the role of general partners?
• What type of taxes are charged to property owners who benefit from improvements?
• What is a rollback tax?
• What is the definition of a valid contract?
• What does an easement of gross allow?
• What type of relationship is built on trust and requires loyalty in real estate transactions?
• What causes land to be formed by the natural deposit of soil and rock?
• Which contract is most commonly used in real estate transactions?
• How many essential elements are needed to make a contract valid?
• What concept describes the fact that improvements to the land will take a long time to pay for?
• Which process involves the transfer of property use regulation from general law to specific local law?
• Which type of lien is placed on a property by the owner?
• What type of lien is superior to any other lien and is placed on all properties at the beginning of the year?
• What defines a corporation in terms of business management?