Exam Prep Texas Real Estate

Real Property owned by the husband and wife prior to marriage is?
Community property
Separate property
Personal property
Tenancy in common
The tax on a given piece of real estate is determined by multiplying the tax rate of the assessing body by the?
Selling price
Appraised value of the property
Assessed valuation
Market value less depreciation
The law which requires certain contracts to be in writing to be enforceable is called the?
Written instruments act
Statue of limitations
Statue of fraud
License act
The amount of deposit money is fixed by?
Agreement of the parties
The real estate license act
A minimum percentage of the selling price
A broker
A contract which provides for the payment of a commission to a broker even though the owner makes the sale without the aid of the broker is called an?
Exclusive listing
Open listing
Option
Exclusive right to sell
The person who borrows the money and gives the mortgage is known as the?
Mortgagee
Assignor
Mortgagor
Payee
A person who has real property willed to him by a relative is said to acquire the title by
Descent
Adverse possession
Devise
Escheat
A mortgage insured by the FHA is usually borrowed from?
The seller
A lending institution
The US gov.
Fannie Mae
When a notary public or other qualified official attests to the signature on a mortgage, its called?
Authorization
Acknowledgement
Execution
Authentication
A judgement is?
A court decree
Jurisdiction of the court
An illegibility
Decision of a jury
All listings shall be taken in the name of the
Buyer
Sponsoring broker
Escrow holder
Sales agent who listed the property
Express means?
Written and enforcable
Written and unenforceable
Written or spoken
Spoken and unenforceable
Title for real prop. May be insured for the grantee by securing a?
Policy of title insurance
Recording of the deed
Certificate of title
Guarantee of title
Deed restrictions are created by the?
Grantor
Trustee
Grantee
Statutory power of local ordinance
An appurtenance is?
Comparability to the sales price of similar projects
A building which intrudes upon another property
A utility lien charged by the gov. For sewers etc...
Something which passes with the land, such as a right of way
RESPA stands for?
Real estate recovery fund
Real estate settlement procedures act
Real estate standards and practices association
Which of the following loans would NOT be subject to the provisions of RESPA
A loan made from deficits insured by the FDIC
An FHA loan
A loan from a private investor who invites more than 1 million dollars per year in such mortgages
A loan on a 6 unit apartment house
Punitive damages for a single violation in a suit brought under the Federal Fair Housing Law are limited to which of the following?
10,000
25,000
75,000
150,000
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