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1. Which type of ownership allows a surviving owner to
automatically receive the deceased owner’s interest?
A. Tenancy in common
B. Community property
C. Joint tenancy
D. Leasehold estate
Answer: C. Joint tenancy
Rationale: Joint tenancy includes the right of survivorship, meaning
that when one owner dies, the deceased owner’s interest automatically
transfers to the surviving owner or owners. Tenancy in common does
not include survivorship rights, and leasehold estates involve renting
rather than ownership.
2. A legal description using lot and block numbers is commonly
associated with which system?
A. Metes and bounds
B. Government survey
,C. Rectangular survey
D. Recorded plat
Answer: D. Recorded plat
Rationale: The recorded plat system identifies property by lot and
block numbers within a subdivision map recorded in public records.
This method is widely used in urban and suburban developments.
3. Which of the following best describes an easement
appurtenant?
A. An easement that benefits a person rather than land
B. A temporary right granted orally
C. An easement attached to the land
D. A lien against real property
Answer: C. An easement attached to the land
Rationale: An easement appurtenant benefits a parcel of land and
transfers with ownership of that property. It involves both a dominant
tenement and a servient tenement.
4. What is the primary purpose of zoning regulations?
A. To increase mortgage rates
B. To control land use
C. To establish tax exemptions
D. To regulate brokerage commissions
Answer: B. To control land use
Rationale: Zoning regulations are established by local governments to
organize and control land use, such as residential, commercial,
, industrial, and agricultural areas. This promotes orderly community
development.
5. Which fiduciary duty requires a licensee to place the client’s
interests above their own?
A. Obedience
B. Accounting
C. Loyalty
D. Disclosure
Answer: C. Loyalty
Rationale: Loyalty requires real estate professionals to act in the best
interests of their clients and avoid conflicts of interest. This duty is one
of the most important obligations in agency relationships.
6. Which type of listing gives one broker the exclusive right to
earn a commission regardless of who finds the buyer?
A. Open listing
B. Net listing
C. Exclusive agency listing
D. Exclusive right-to-sell listing
Answer: D. Exclusive right-to-sell listing
Rationale: Under an exclusive right-to-sell listing, the broker earns a
commission no matter who procures the buyer, including the seller.
This listing offers the greatest protection for brokers.