REE 3043 -Exam 1,3 And 4Curcio Final
Test Questions with Complete
Solutions 2026 Update.
The gravity that draws economic activity into clusters is - Answer demand for access or
proximity
The best example of a base economic activity would be a - Answer regional sales office
In a system of bid-rent curves, assuming that the households are identical except for the feature
noted, which of these prospective bidders will bid successfully for the sites nearest to the CBD?
- Answer Households with the greatest number of commuting workers
Rochester, Minnesota is home to the Mayo Clinic. People travel from all over the world to be
treated at the Mayo Clinic because of its renowned reputation. Some people stay for weeks at a
time with large groups of family and friends by their side. All these people spend money on
hotels, food and other things, locally. The hospital is an example of: - Answer an economic
base multiplier
In the past, each of the following has been a reason why cities developed Except - Answer
The availability of top entertainers
The set of activities that a city provides for the world beyond its boundaries is called: - Answer
Economic Base
The bid-rent curve is influenced by various factors but NOT : - Answer male vs. female
commuters
Calculate the location quotient for the healthcare industry of a certain city given the following
facts:
Total % of city population working in healthcare is: 30%
Total % of U.S. population working in healthcare is: 15% - Answer 2
What is the main determinant of the hierarchy of central place patterns? - Answer Population
required for market
A fishing company was formed in Juneau, Alaska. Within ten years a canning plant, a processing
plant, and a boat repair facility had also opened in Juneau. This is an example of: - Answer
Agglomeration economics
,Ten different car dealerships have opened their businesses along eight consecutive blocks on
Camelback Road in Phoenix, Arizona. This is an example of: - Answer Clustering
Amanda works downtown and pays $800 per month in rent for an apartment 25 miles from her
office. She has calculated that she spends 40 minutes per day driving each way to the office and
it costs her $9 per day in gas and lost productivity. Based on a 20 workday month, how much
would she be willing to pay for an apartment downtown? - Answer $980
Locating similar businesses in close proximity (such as clothing stores within a regional mall) is a
pattern used in ___________________ activities. - Answer Comparison
Which of the following statements is least correct? - Answer Cities with agglomeration
economies deter technological espionage and business encroachments.
A market where tenants negotiate rent and other terms with property owners or their
managers is referred to as a: - Answer User Market
The term "real estate" is used in three fundamental ways. These include all of the following
EXCEPT : - Answer To identify all types of properties
Real estate property taxes generate approximately _______ of local government revenue -
Answer 70%
What two elements are involved in every real estate investment decision? - Answer Initial
cost and value of future benefit
Approximately what portion of U.S. households owns their own home? - Answer
Approximately 2/3
The total value of owner-occupied housing and investible commercial real estate in the United
States is estimated to be approximately: - Answer $26 trillion
Judgment liens against an owner of real estate may be nullified or limited by: - Answer State
laws governing homesteads
In Florida, designating a principal residence as a homestead: - Answer Protects the residence
from bankruptcy sale
, Lien Priority in real estate is significant because of: - Answer the "all or nothing" treatment of
creditors in the event of a property sale.
Items that were formerly personal property but have been converted to real property are
called: - Answer fixtures
Which of the following marriage-related forms of co-ownership gives the surviving spouse, one-
third life estate in real property, but ignores personal property wealth, of the decedent? -
Answer Dower/courtesy
Which type of ownership combines estate in severalty and tenancy in common? - Answer
Condominium
Charles is 75 years old and has no heirs. While meeting with his lawyer about some estate
planning issues, the lawyer suggests that Charles donate his current home to his church under
condition that he be allowed to live there for the rest of his life. This is an example of what type
of ownership? - Answer Ordinary life estate with remainder interest.
Jeff owns 150 acres between a highway and a public beach. The state would like to build a road
directly from the highway to the beach across Jeff's property. The space for this road would be
considered: - Answer An easement in gross
Wording in a deed such as "does hereby grant, bargain, sell and convey unto ..." would satisfy
the required element of: - Answer words of conveyance
A seller can meet the requirement for "evidence of title" by - Answer Providing a title
abstract with attorneys opinion
Legal ownership of real property is evidenced by: - Answer a deed
Walt Disney World's Cinderella Castle is located in which of the following government
rectangular survey map places? - Answer On the 40 acres in the NW 1/4 of the N/E 1/4 of
Section 11, of the Township: Range 27E, Tier 24S
Involuntary conveyance of property without a deed, which can occur when others use the
property in a manner hostile to the owner's interest, involving actual natural use, which is open
and notorious, continuous and exclusive is called: - Answer Adverse Possession
Formula:
Rt = (EB - Io)/(VT - VX)
Test Questions with Complete
Solutions 2026 Update.
The gravity that draws economic activity into clusters is - Answer demand for access or
proximity
The best example of a base economic activity would be a - Answer regional sales office
In a system of bid-rent curves, assuming that the households are identical except for the feature
noted, which of these prospective bidders will bid successfully for the sites nearest to the CBD?
- Answer Households with the greatest number of commuting workers
Rochester, Minnesota is home to the Mayo Clinic. People travel from all over the world to be
treated at the Mayo Clinic because of its renowned reputation. Some people stay for weeks at a
time with large groups of family and friends by their side. All these people spend money on
hotels, food and other things, locally. The hospital is an example of: - Answer an economic
base multiplier
In the past, each of the following has been a reason why cities developed Except - Answer
The availability of top entertainers
The set of activities that a city provides for the world beyond its boundaries is called: - Answer
Economic Base
The bid-rent curve is influenced by various factors but NOT : - Answer male vs. female
commuters
Calculate the location quotient for the healthcare industry of a certain city given the following
facts:
Total % of city population working in healthcare is: 30%
Total % of U.S. population working in healthcare is: 15% - Answer 2
What is the main determinant of the hierarchy of central place patterns? - Answer Population
required for market
A fishing company was formed in Juneau, Alaska. Within ten years a canning plant, a processing
plant, and a boat repair facility had also opened in Juneau. This is an example of: - Answer
Agglomeration economics
,Ten different car dealerships have opened their businesses along eight consecutive blocks on
Camelback Road in Phoenix, Arizona. This is an example of: - Answer Clustering
Amanda works downtown and pays $800 per month in rent for an apartment 25 miles from her
office. She has calculated that she spends 40 minutes per day driving each way to the office and
it costs her $9 per day in gas and lost productivity. Based on a 20 workday month, how much
would she be willing to pay for an apartment downtown? - Answer $980
Locating similar businesses in close proximity (such as clothing stores within a regional mall) is a
pattern used in ___________________ activities. - Answer Comparison
Which of the following statements is least correct? - Answer Cities with agglomeration
economies deter technological espionage and business encroachments.
A market where tenants negotiate rent and other terms with property owners or their
managers is referred to as a: - Answer User Market
The term "real estate" is used in three fundamental ways. These include all of the following
EXCEPT : - Answer To identify all types of properties
Real estate property taxes generate approximately _______ of local government revenue -
Answer 70%
What two elements are involved in every real estate investment decision? - Answer Initial
cost and value of future benefit
Approximately what portion of U.S. households owns their own home? - Answer
Approximately 2/3
The total value of owner-occupied housing and investible commercial real estate in the United
States is estimated to be approximately: - Answer $26 trillion
Judgment liens against an owner of real estate may be nullified or limited by: - Answer State
laws governing homesteads
In Florida, designating a principal residence as a homestead: - Answer Protects the residence
from bankruptcy sale
, Lien Priority in real estate is significant because of: - Answer the "all or nothing" treatment of
creditors in the event of a property sale.
Items that were formerly personal property but have been converted to real property are
called: - Answer fixtures
Which of the following marriage-related forms of co-ownership gives the surviving spouse, one-
third life estate in real property, but ignores personal property wealth, of the decedent? -
Answer Dower/courtesy
Which type of ownership combines estate in severalty and tenancy in common? - Answer
Condominium
Charles is 75 years old and has no heirs. While meeting with his lawyer about some estate
planning issues, the lawyer suggests that Charles donate his current home to his church under
condition that he be allowed to live there for the rest of his life. This is an example of what type
of ownership? - Answer Ordinary life estate with remainder interest.
Jeff owns 150 acres between a highway and a public beach. The state would like to build a road
directly from the highway to the beach across Jeff's property. The space for this road would be
considered: - Answer An easement in gross
Wording in a deed such as "does hereby grant, bargain, sell and convey unto ..." would satisfy
the required element of: - Answer words of conveyance
A seller can meet the requirement for "evidence of title" by - Answer Providing a title
abstract with attorneys opinion
Legal ownership of real property is evidenced by: - Answer a deed
Walt Disney World's Cinderella Castle is located in which of the following government
rectangular survey map places? - Answer On the 40 acres in the NW 1/4 of the N/E 1/4 of
Section 11, of the Township: Range 27E, Tier 24S
Involuntary conveyance of property without a deed, which can occur when others use the
property in a manner hostile to the owner's interest, involving actual natural use, which is open
and notorious, continuous and exclusive is called: - Answer Adverse Possession
Formula:
Rt = (EB - Io)/(VT - VX)
