Texas Principles 2 Exam Practice Latest Questions and Answers Champions School
of Real Estate Verified.
Texas Principles 1 Exam Practice Questions -
... [Show More] Champions School of Real Estate
1. a: BOMA's major concern is advocacy on the part of:
(a) Building owners and managers (b) Landlords and tenants(c) Employment law and managers
(d) None of these are correct
2. a: The _________ combines the elements of the Good Faith Estimate form and the initial
Truth in Lending disclosure.
(a) Loan Estimate(b) Controlled Business Arrangement (c) Closing Disclosure(d) None of these is
correct
3. a: The quarterly interest payment on a loan is $4,000. The interest rate is 5%. What is the loan
amount?
(a) $320,000 (b) $32,000 (c) $80,000 (d) $800,000
4. a: Auctioneers who call at a real estate auction ______.
(a) may do so without a license(b) may not do so without a license(c) are known as foreclosure
specialists (d) none of the above
5. a: The assessed value of a property is $90,000. The tax rate is $3.42 per hundred. What are
the annual taxes? (a) $3,078.00 (b) $307.80 (c) $3,420.00 (d) $342.00
6. a: The ABR designation is especially useful for:
(a) Residential buyer's agents(b) Commercial property managers (c) Foreclosure specialists(d)
Industrial property specialists
7. a: Located in between incompatible uses, a _______ is an area of land separating one land
use from another, such as residential from commercial.
(a) buffer zone(b) forward condemnation (c) reverse condemnation (d) police power zone
8. a: The ________ is the central banking system of the United States.
(a) Federal Reserve(b) FHA(c) FOMC(d) Federal Credit Union
9. a: For tax purposes the _______ is determined by the taxing authority.
(a) assessed value (b) appraised value (c) market price(d) investment value
10. a: The market value of a property is $425,000. The appraised value is 95% of market value.
What is the appraised value of the property?
(a) $403,750 (b) $21,250 (c) $416,350 (d) $395,675. [Show Less]