Real Estate Exam #4

In Texas, Delinquency in real estate terms means:

In Texas, A title plant is a duplicate set of title records maintained at title insurance companies for use in:

In Texas, A real estate broker is typically considered:

In Texas, If a person who works for a private corporation wants to participate in an employer-sponsored investment plan that allows them to set aside tax-deferred income for retirement or emergency purposes, they would enroll in a:

In Texas, A non-conforming loan is a loan amount over:

In Texas, A man paid $9,500 for the stock in trade of a retail business. He sold it for 25% more than he paid for it. If he lost 15% of the gross sale price because of credit risks, the net profit on his original investment would be:

In Texas, This is a decision made by a court of law:

In Texas, When Jared, a licensed real estate agent, obtains an exclusive listing for a property in his own neighborhood, Jared has obtained:

In Texas, An unlicensed assistant in a real estate office cannot:

In Texas, This will cover repairs to certain items like air conditioning or heating during the coverage period:

In Texas, If a dispute over ownership of a property occurs, a property owner would likely be protected from loss if they had purchased:

In Texas, When a real estate transaction occurs, which of these typically earn the highest commissions, barring any other contractual agreements?

In Texas, Which of these is a congressionally chartered, shareholder owned company that is the nation’s largest supplier of home mortgage funds?

In Texas, Retaining a property while at the same time using it as collateral to secure a loan is called:

In Texas, A fiduciary relationship requires these elements:

In Texas, Which of these is an example of a general agent that has the authority to make binding decisions on behalf of the principal:

In Texas, A lease constitutes in part an ______________ contract between the ________________ and the __________________.

In Texas, When a value is placed on a property for the purpose of taxation, this is called a(n):

In Texas, The difference between the interest rate and the index on an adjustable rate mortgage is best known as:

In Texas, A purchase money transaction is:

In Texas, Method of attachment, adaptability of the attached item, relationship of the parties, intent of the person attaching the item, and agreement between parties are:

In Texas, The Federal National Mortgage Association is also known as:

In Texas, The Government National Mortgage Association, that provides funds for government loans like FHA and VA, is also known as:

In Texas, Which of these would have the most percentage of their funds invested in real estate mortgages?

In Texas, The “original principal balance” is best defined as:

In Texas, Uniqueness in real estate properties is sometimes called:

In Texas, A technique in which a seller deeds property to a buyer for consideration, and the buyer simultaneously leases the property back to the seller is called:

In Texas, What does the Real Estate Settlements Procedures Act cover?

In Texas, If Jonas is a person who is licensed in his state who negotiates and transacts the sale of real property, Jonas is:

In Texas, If Jonathan lists his property with Julian, a broker in his hometown, and subsequently is killed in a tragic car accident before the listing is sold or expired, what happens with the listing?

In Texas, Which of these are considered a protected class under the Fair Housing Amendments Act of 1988?

In Texas, What happens if the principal is incapacitated or suffers death according to the laws of agency?

In Texas, If a minority person is looking to purchase a home and the lender refuses to lend to them based on their creditworthiness, this is:

In Texas, Any encumbrance placed on a property without the owner’s consent is considered:

In Texas, The appraised value of a property is intended to estimate the:

In Texas, When a lender makes a “firm commitment”, the lender has:

In Texas, An unconditional unlimited estate of inheritance that represents the greatest estate and most extensive interest in land that can be enjoyed and is of perpetual duration is called a:

In Texas, In order for a loan to be insured through the FHA, the property must:

In Texas, An agreement in which the owner of a property provides financing, often in combination with an assumable mortgage, is called:

In Texas, This limits the amount the interest rate can increase or decrease over the life of the mortgage:

In Texas, An “acceleration clause” is most closely related to:

In Texas, Real property where all the owners own the property, common areas, and building together but with the exception of the interior of the unit to which they have title is called:

In Texas, If a person agrees to pay a certain sum for a service deed to be done on a property while the other person simply agrees to do the service if their schedule permits for it, this kind of contract would be called:

In Texas, A decline in the value of property and an accounting term showing the declining monetary value of an asset is called:

In Texas, The interest rate that is stated on a mortgage note is called the:

In Texas, If you obtain liability insurance, which is usually part of a homeowner’s insurance policy, it will:

In Texas, Commissions in real estate are generally the largest for realtors (agents and brokers). Which of the following earn the second largest commissions?

In Texas, If a married couple acquires property during their marriage, the property is considered to be:

In Texas, A property’s bundle of rights can include which of the following:

In Texas, What occurs in a “bi-weekly” mortgage?