FREE REAL ESTATE EXAM
10 Typical Questions
(Principles of Real Estate I)
In order to convey title to real property, a deed must be signed by the:
A) buyer
B) seller
C) grantor
D) grantee
(Principles of Real Estate I)
The Texas Real Estate Commission is composed of:
A) 6 broker members and 3 public members
B) 5 broker members, 5 agent members, and 1 public member
C) 1 lawyer and 10 brokers
D) 5 broker members and 5 lawyers
(Principles of Real Estate II)
A lease under which the tenant pays a fixed rent and pays all the operating expenses is a:
A) gross lease
B) percentage lease
C) fixed lease
D) net lease
(Law of Agency)
The Civil Rights Act of 1968 was amended in 1974 to include:
A) age
B) race
C) sex
D) religion
(Law of Agency)
The listing agreement that MOST brokers prefer is the:
A) exclusive agency listing
B) net listing
C) exclusive right to sell listing
D) open listing
(Contracts)
This lease has a defined specific beginning and ending date.
A) Estate at sufferance
B) Estate at will
C) Estate from period to period
D) Estate for years
(Promulgated Contracts)
A contract must include all of these items except:
A) Legal Description
B) Sales Price
C) Names of parties
D) Type of loan
((Promulgated Contracts)
Within ____ days after the title company receives a copy of the contract, Seller shall furnish to Buyer a Commitment for title insurance.
A) 20
B) 10
C) 5
D) 30
(Finance)
Which act was passed in 2010 in an attempt to create accountability by regulating mortgage lenders and mortgage brokers?
A) Dodd-Frank
B) CRA
C) SAFE
D) Consumer Financial Protection Act
(Finance)
Insurance is $2800/year. Sales price $437,500. LTV is 95%. Insurance start date is December 5th. Close date is August 13th. Using a bankers year, calculate the monthly insurance payment. Assume no leap year.
A) $7.78
B) $233.33
C) $255.00
D) $1983.90