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Perry Real Estate College Final Exam Questions & Answers | Complete Real Estate Exam Practice 2026 Update

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Ace your real estate exams with this Perry Real Estate College Final Exam resource. It includes verified questions and answers to help students master all key concepts in property, finance, law, and real estate practices. Perfect for: Real Estate Licensing Exam Prep State and National Real Estate Exam Review Self-Testing & Practice Exams Accelerated Study for Real Estate Students Topics Covered: Property Ownership & Land Use Contracts & Agency Law Real Estate Finance & Mortgages Closing Procedures & Escrow Real Estate Ethics & Regulations

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Fixture


An item of personal property that has been converted to real property by being permanently affixed to the realty.


Special Purpose Real Estate


churches, schools, cemeteries, and government-held lands


Propriety lease


the lease given to shareholders in a cooperative


Disposition


Right to encumber


Control


Right to determine interest of property

,Accession


Acquiring title to additions or improvements to real property as a result of a lease ending


PITI


Principal, Interest, Taxes, Insurance


Exclusion


ability to legally refuse others interest


Yes


Are Fixtures real property?


third


Mortgage interest on a ____ home affects tax returns

,Improvement


any artificial thing attached on or below ground, such as a building, fence, water line or sewer pipe, as well as
growing things that are made part of the landscaping.


Deed


A document that transfers ownership of property from one party to another.


federally related transaction


Appraisals are required for


Condo


An individually owned unit in an apartment-style complex with shared ownership of common areas.Owned in fee
simple + undivided joint interests


monetary policy


factor in supply

, Old english law


Bundle of legal rights comes from


Fructus Industriales


An Emblements, considered real property, plant or crop that require annual cultivation


Enjoyment


possession without harassment or interference


Broker


Point of contact between 2 or more people in negotiating the sale, rental or purchase


FEMA


administers the national flood insurance program

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