Question 1

A lessee of a book store may legally remove his bookshelves at any time before the lease expires.

Accepted Answer

A) True 
 B)False

Question 2

Timber on land becomes ____________________ property.

Accepted Answer

The answer of Timber on land becomes ____________________ property....

Question 3

Correction lines, which occur at intervals in the rectangular survey system, are necessary

Accepted Answer

A)  to correct the mistakes made by surveyors. 
B)  to allow for magnetic fields which interfere with compasses. 
C)  because of the curvature of the earth. 
D)  because of the gravitational pull of the moon. 
A)  to correct the mistakes made by surveyors. 
B)  to allow for magnetic fields which interfere with compasses. 
C)  because of the curvature of the earth. 
D)  because of the gravitational pull of the moon.

Question 4

Improvements made to real property become part of the real property because of

Accepted Answer

A)  reliction. 
B)  attachment. 
C)  devise. 
D)  descent 
A)  reliction. 
B)  attachment. 
C)  devise. 
D)  descent

Question 5

Choose the one most appropriate answer for each.
-manner in which a specific item is custom made to adapt to a certain piece of real estate

Accepted Answer

A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table 
A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table

Question 6

The most accurate way to uniquely locate and bound a parcel of real property is to use

Accepted Answer

A)  an aerial photograph. 
B)  a topographical map. 
C)  a full legal description. 
D)  latitude and longitude. 
A)  an aerial photograph. 
B)  a topographical map. 
C)  a full legal description. 
D)  latitude and longitude.

Question 7

If a listing agreement mentions a refrigerator as part of real estate offering it should still be mentioned in the ____________________.

Accepted Answer

The answer of If a listing agreement mentions a refrigerator...

Question 8

"That land bounded by Elk Lake and the western boundary of Ware County running from the lake to the southern boundary of said county" might be considered too vague, imprecise and subject to change to be a valid legal description.

Accepted Answer

A) True 
 B)False

Question 9

Choose the one most appropriate answer for each.
-easily understood but not precise method of land description

Accepted Answer

A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table 
A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table

Question 10

All of the following are acceptable means of describing real property EXCEPT

Accepted Answer

A)  metes and bounds. 
B)  lot and block. 
C)  allodial method. 
D)  rectangular survey method. 
A)  metes and bounds. 
B)  lot and block. 
C)  allodial method. 
D)  rectangular survey method.

Question 11

Choose the one most appropriate answer for each.
-fixed mark of known location and elevation

Accepted Answer

A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table 
A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table

Question 12

Any thing affixed to land with the intent of being permanent is considered real property.

Accepted Answer

A) True 
 B)False

Question 13

Choose the one most appropriate answer for each.
-upper limit of percolating water below the earth's surface

Accepted Answer

A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table 
A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table

Question 14

A farm, consisting of 160 acres of cultivated land, is sold. Which of the following requires an expressed agreement, in addition to the deed, in order to transfer ownership?

Accepted Answer

A)  Cultivated crops 
B)  Subsurface rights 
C)  Farm house 
D)  Detached garage 
A)  Cultivated crops 
B)  Subsurface rights 
C)  Farm house 
D)  Detached garage

Question 15

An easement for the adjacent property owner is appurtenant to real estate.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following are considered to be real estate?

Accepted Answer

A)  Trade Fixtures 
B)  Emblements 
C)  Mulberry bush 
D)  Garden hose 
A)  Trade Fixtures 
B)  Emblements 
C)  Mulberry bush 
D)  Garden hose

Question 17

If Mr.Howard paid $2,500 per acre for the W 1/2 of the SE 1/4 of the NW 1/4 of section 10, how much did he pay?

Accepted Answer

A)  $50,000 
B)  $100,000 
C)  $200,000 
D)  $680,000 
A)  $50,000 
B)  $100,000 
C)  $200,000 
D)  $680,000

Question 18

Choose the one most appropriate answer for each.
-the fact that land and buildings require long periods of time to pay for themselves

Accepted Answer

A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table 
A) acre 
B) adaptation 
C) agreement 
D) appurtenance 
E) base line
F)bench marks
G)datum
H)fixity
I)government survey
J)improvements
K)informal references
L)nonhomogenity
M)personal property
N)quadrangle
O)real estate
P)recorded plat
Q)scarcity
R)situs
S)vertical land descriptions
T)water table

Question 19

The littoral system is a valid way of describing real estate.

Accepted Answer

A) True 
 B)False

Exam 1: Nature and Description of Real Estate

A lessee of a book store may legally remove his bookshelves at any time before the lease expires.

Timber on land becomes ____________________ property.

Correction lines, which occur at intervals in the rectangular survey system, are necessary

Improvements made to real property become part of the real property because of

Choose the one most appropriate answer for each. -manner in which a specific item is custom made to adapt to a certain piece of real estate

The most accurate way to uniquely locate and bound a parcel of real property is to use

If a listing agreement mentions a refrigerator as part of real estate offering it should still be mentioned in the ____________________.

"That land bounded by Elk Lake and the western boundary of Ware County running from the lake to the southern boundary of said county" might be considered too vague, imprecise and subject to change to be a valid legal description.

Choose the one most appropriate answer for each. -easily understood but not precise method of land description

All of the following are acceptable means of describing real property EXCEPT

Choose the one most appropriate answer for each. -fixed mark of known location and elevation

Any thing affixed to land with the intent of being permanent is considered real property.

Choose the one most appropriate answer for each. -upper limit of percolating water below the earth's surface

A farm, consisting of 160 acres of cultivated land, is sold. Which of the following requires an expressed agreement, in addition to the deed, in order to transfer ownership?

An easement for the adjacent property owner is appurtenant to real estate.

Which of the following are considered to be real estate?

If Mr.Howard paid $2,500 per acre for the W 1/2 of the SE 1/4 of the NW 1/4 of section 10, how much did he pay?

Choose the one most appropriate answer for each. -the fact that land and buildings require long periods of time to pay for themselves

The littoral system is a valid way of describing real estate.

Rights and Interests in Land

Forms of Ownership

Transferring Title

Recordation Abstracts and Title Insurance

Contract Law

Real Estate Sales Contracts

Mortgage and Note

Deed of Trust

Lending Practices

The Loan and the Consumer

Sources of Financing

Types of Financing

Taxes and Assessments

Title Closing and Escrow

Real Estate Leases

Real Estate Appraisal

Licensing Laws and Professional Affiliation

The Principal-Broker Relationship: Employment

The Principal-Broker Relationship: Agency

Fair Housing, Ada, Equal Credit, and Community Reinvestment

Condominiums, Cooperatives, Puds, and Timeshares

Property Insurance

Land-Use Control

Real Estate and the Economy

Investing in Real Estate

Filters