Question 1
The land description N 1/2 of the S/W 1/4 of the NE 1/4 uses which survey system?
Correct Answer:
Rectangular Survey system
Explanation:
This description uses a grid-based way of dividing land into fixed parts: a section is broken down into quarters, and those quarters can be further divided into halves or quarters. That style of naming—NE 1/4, S/W 1/4, and then taking the north half of a quarter—is a hallmark of the Rectangular Survey system, also known as the Public Land Survey System. It describes parcels along straight grid lines established by meridians and baselines, not by natural boundaries or by plats. Metes and bounds would specify distances and natural features; Lot and Block would reference a recorded plat with lot and block numbers within a subdivision. So the language shown fits the rectangular survey model.
Question 2
The term describing no two land parcels are identical is:
Correct Answer:
Uniqueness
Explanation:
In real estate, land is described as unique because each parcel has its own exact combination of location, size, shape, boundaries, and legal encumbrances that set it apart from every other parcel. This one-of-a-kind quality is captured by the term uniqueness, making it the best fit since it directly states that no two parcels are identical. Variation and diversity refer to differences within a group rather than the singular, irreplaceable status of an individual parcel, and similariversity isn’t a real term. The idea you’re testing is that each parcel is distinct, which is why uniqueness is the appropriate concept.
Question 3
A significant difference between Texas brokers licensed before and after October 31, 1991 is that:
Correct Answer:
A Texas broker licensed before October 31, 1991 is exempt from continuing education requirements for license renewal.
Explanation:
The key idea is how a rule change about continuing education depends on when the license was issued. Texas added continuing education requirements for broker license renewal with a cutoff date of October 31, 1991. Brokers who were licensed before that date were grandfathered and do not have to complete continuing education to renew. Brokers licensed after the cutoff must complete continuing education as part of renewal. That’s why the statement about pre-1991 licensees being exempt from continuing education for renewal best captures the significant difference between those who were licensed before and after that date. The other options either describe the rule inaccurately or focus on aspects (like renewal fees) that aren’t the core change being tested.
Question 4
A landlocked parcel after surrounding property is sold; which scenario is MOST likely?
Correct Answer:
Carla would be granted an easement by necessity to access the property.
Explanation:
When a parcel becomes landlocked because the surrounding property has been sold, the owner needs a way to reach a public road to use and enjoy the land. The established remedy is an easement by necessity: a permanent right to cross the neighboring land to access a street, created because access is essential for meaningful use of the property. This type of easement is tied to the land itself (it runs with the land) and generally arises by operation of law at the time of severance, ensuring the landlocked parcel isn’t worthless. Easement by prescription requires long, open, adverse use of someone else’s land and isn’t triggered by the mere fact of severance. A license is a temporary, revocable permission and does not create a lasting property right. Purchasing the surrounding land could solve the problem, but it’s not the automatic or most typical remedy; the law prefers granting an easement by necessity to preserve access.
Question 5
In a net listing, the broker's commission is based on the difference between listing price and sale price.
Correct Answer:
True
Explanation:
Net listings tie the broker’s pay to the amount by which the final sale price exceeds the seller’s stated net amount, not to the difference between the listing price and the sale price. In this arrangement, the seller sets a net proceeds target, and the broker earns whatever amount the sale price adds above that net. For example, if the seller wants $200,000 net and the property sells for $260,000, the broker’s compensation would be $60,000, regardless of the listing price. The listing price merely starts the process; it does not determine the commission under a net listing. Because the broker’s interest can diverge from the seller’s net goal, net listings are restricted or illegal in many jurisdictions.
Question 1
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Prepare with the Real Estate Principles 1 Practice Exam practice quiz. This question bank includes 10 questions covering property, land, difference, listing, and price. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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Real Estate Principles 1 Practice Exam

This practice set contains 10 questions from the matching question bank and focuses on property, land, difference, listing, and price. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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