Question 1

The term ________ is used to describe the nature of a person's ownership interest in real property.

Accepted Answer

A) tenancy 
B) fixture 
C) estate 
D) easement 
A) tenancy 
B) fixture 
C) estate 
D) easement

Question 2

The Fair Housing Act prevents discrimination in the housing market.Which of the following groups of people are not subject to its provisions?

Accepted Answer

A) Buyers 
B) Real estate brokers 
C) Appraisers 
D) Sellers 
A) Buyers 
B) Real estate brokers 
C) Appraisers 
D) Sellers

Question 3

Marcus executes a deed to the family farm and leaves it in his safe-deposit box for delivery to Beth when he dies.Marcus has died.Which of the following statements is true?

Accepted Answer

A) The attempted gift will not be valid because Marcus did not deliver the gift during his lifetime. 
B) Beth is the rightful owner of the farm because the deed was properly executed. 
C) The attempted gift will not be valid because Beth did not have possession of the deed at the time Marcus died. 
D) Marcus did not need to have intended to make a gift for the gift to be valid. 
A) The attempted gift will not be valid because Marcus did not deliver the gift during his lifetime. 
B) Beth is the rightful owner of the farm because the deed was properly executed. 
C) The attempted gift will not be valid because Beth did not have possession of the deed at the time Marcus died. 
D) Marcus did not need to have intended to make a gift for the gift to be valid.

Question 4

Which of the following factors is most significant in determining whether an item of personal property has become a fixture?

Accepted Answer

A) The extent of injury to the property by its removal. 
B) The value of the item. 
C) Actual physical attachment to real property. 
D) The buyer of the item. 
A) The extent of injury to the property by its removal. 
B) The value of the item. 
C) Actual physical attachment to real property. 
D) The buyer of the item.

Question 5

A deed that provides notice to the public at large about the grantee's property interest is called a recorded deed.

Accepted Answer

A) True 
 B)False

Question 6

Eminent domain:

Accepted Answer

A) allows the government to acquire private property for public use. 
B) allows a private citizen to sue his neighbors for nuisance. 
C) instructs private citizens to ensure reasonable security of their premises. 
D) prohibits discrimination in housing on the basis of race or disability. 
A) allows the government to acquire private property for public use. 
B) allows a private citizen to sue his neighbors for nuisance. 
C) instructs private citizens to ensure reasonable security of their premises. 
D) prohibits discrimination in housing on the basis of race or disability.

Question 7

An easement is a transfer of ownership of real property from one person to another.

Accepted Answer

A) True 
 B)False

Question 8

Real property includes land but does not include residential buildings and permanent structures.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is sufficient for a gift of real property to be valid?

Accepted Answer

A) Delivery of a properly executed deed 
B) Possession of the property 
C) Actual possession of the property 
D) An oral declaration 
A) Delivery of a properly executed deed 
B) Possession of the property 
C) Actual possession of the property 
D) An oral declaration

Question 10

The power of eminent domain enables a private citizen to sue neighbors for any kind of nuisance.

Accepted Answer

A) True 
 B)False

Exam 24: Real Property

The term ________ is used to describe the nature of a person's ownership interest in real property.

The Fair Housing Act prevents discrimination in the housing market.Which of the following groups of people are not subject to its provisions?

Marcus executes a deed to the family farm and leaves it in his safe-deposit box for delivery to Beth when he dies.Marcus has died.Which of the following statements is true?

Which of the following factors is most significant in determining whether an item of personal property has become a fixture?

A deed that provides notice to the public at large about the grantee's property interest is called a recorded deed.

Eminent domain:

An easement is a transfer of ownership of real property from one person to another.

Real property includes land but does not include residential buildings and permanent structures.

Which of the following is sufficient for a gift of real property to be valid?

The power of eminent domain enables a private citizen to sue neighbors for any kind of nuisance.

The Nature of Law

The Resolution of Private Disputes

Business and the Constitution

Business Ethics, Corporate Social Responsibility, Corporate Governance, and Critical Thinking

Criminal Law and Procedure

Intentional Torts

Negligence and Strict Liability

Intellectual Property and Unfair Competition

Introduction to Contracts

The Agreement: Offer

The Agreement: Acceptance

Consideration

Reality of Consent

Capacity to Contract

Illegality

Writing

Rights of Third Parties

Performance and Remedies

Formation and Terms of Sales Contracts

Product Liability

Performance of Sales Contracts

Remedies for Breach of Sales Contracts

Personal Property and Bailments

Landlord and Tenant

Estates and Trusts

Insurance Law

Introduction to Credit and Secured Transactions

Security Interests in Personal Property

Bankruptcy

Negotiable Instruments

Negotiation and Holder in Due Course

Liability of Parties

Checks and Electronic Transfers

The Agency Relationship

Third-Party Relations of the Principal and the Agent

Introduction to Forms of Business and Formation of Partnerships

Operation of Partnerships and Related Forms

Partners Dissociation and Partnerships Dissolution and Winding up

Limited Liability Companies, limited Partnerships, and Limited Liability Limited Partnerships

History and Nature of Corporations

Organization and Financial Structure of Corporations

Management of Corporations

Shareholders Rights and Liabilities

Securities Regulation

Legal and Professional Responsibilities of Auditors, Consultants, and Securities Professionals

Administrative Law

The Federal Trade Commission Act and Consumer Protection Laws

Antitrust: the Sherman Act

The Clayton Act, the Robinsonpatman Act, and Antitrust Exemptions and Immunities

Employment Law

Environmental Regulation

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