Principles of Real Estate 1: Topics 1.1 & 1.2

Which term refers to working with the parties in negotiating the sale, rental or purchase of real estate?

• Appraisal

• Consulting

• Development

• Brokerage

Churches, government land, and schools are classified as which kind of property?

• Special purpose

• Industrial

• Commercial

• Agricultural

Theaters and parking lots are classified as which kind of property?

• Commercial

• Agricultural

• Industrial

• Special purpose

Warehouses, factories, and research facilities are classified as which kind of property?

• Commercial

• Special purpose

• Agricultural

• Industrial

The primary purpose of the U.S. Constitution and the individual state constitutions is to delineate the limits of governmental authority and establish citizens'

• rights

• limitations

• obligations

• responsibilities

The Texas Real Estate License Act is administered by

• the Texas Real Estate Commission

• the Texas Commission on Professional Business Licensure

• the U.S. Department of Housing and Urban Development

• the National Association of REALTORS®