PERRY REAL ESTATE PAPER ACTUAL QUESTIONS
AND ANSWERS SET A+
✔✔The principal difference between an estate for years and an estate from year to year
is that
-an estate from year to year has no expiration date
-an estate for years cannot be terminated
-an estate for years is a life estate
-an estate from year to year must be in writing - ✔✔an estate from year to year has no
expiration date
✔✔a tenant's lease has expired, but the tenant has not vacated the premise or
negotiated a renewal lease. The landlord has declared that the tenant is not to remain in
the building. This situation is an example of
-an estate for years
-tenancy at will
-an estate from year to year
-tenancy at sufferance - ✔✔tenancy at suffereance
✔✔The Governor appoints Commissioners - ✔✔from a list provided by the Kentucky
Association of REALTORS
✔✔A standard rectangular survey system section contains
-160 acres
-640 acres
-160 government lots
-36 townships - ✔✔640 acres
✔✔Which of the following is NOT required for the broker to remove money from his or
her escrow account?
-court order
-a mutual release
-performance on the contract
, -signed affidavit - ✔✔signed affidavit
✔✔all of the following are essential to the formation of a contract EXCEPT
-performance
-consideration
-offer
-acceptance - ✔✔performance
✔✔Broker Janna was accused of violating antitrust laws. Of the following, she was
MOST likely accused of
-not having an equal housing opportunity sign in her office window
-dealing in unlicensed exchange services
-price fixing
-undisclosed dual agencies - ✔✔price fixing
✔✔Under license laws, real estate advertising must contain which of the following?
-company's address
-listing agent's name
-company's telephone number
-company name or principal broker's name - ✔✔Company name or principal broker's
name
✔✔A property owner contracted to have a swimming pool installed on her property.
When the pool was completed, she refused to pay for the improvement, and the
contractor filed a lien for nonpayment. This lien was most likely a
-specific lien
-general lien
-special lien
-voluntary lien - ✔✔specific lien
✔✔Charging more interest than is legally allowed is known as
-usury
-a deficiency
-escheat
-an estoppel - ✔✔usury
✔✔A third party holds title to property on behalf of someone else through the use of a
-devise
-deed in trust
-bequest
-quitclaim deed - ✔✔deed in trust
✔✔Broker Kenneth arrives to present a purchase offer to Dorita, an invalid, and finds
her son and his wife also present. In the presence of Broker Kenneth, both individuals
AND ANSWERS SET A+
✔✔The principal difference between an estate for years and an estate from year to year
is that
-an estate from year to year has no expiration date
-an estate for years cannot be terminated
-an estate for years is a life estate
-an estate from year to year must be in writing - ✔✔an estate from year to year has no
expiration date
✔✔a tenant's lease has expired, but the tenant has not vacated the premise or
negotiated a renewal lease. The landlord has declared that the tenant is not to remain in
the building. This situation is an example of
-an estate for years
-tenancy at will
-an estate from year to year
-tenancy at sufferance - ✔✔tenancy at suffereance
✔✔The Governor appoints Commissioners - ✔✔from a list provided by the Kentucky
Association of REALTORS
✔✔A standard rectangular survey system section contains
-160 acres
-640 acres
-160 government lots
-36 townships - ✔✔640 acres
✔✔Which of the following is NOT required for the broker to remove money from his or
her escrow account?
-court order
-a mutual release
-performance on the contract
, -signed affidavit - ✔✔signed affidavit
✔✔all of the following are essential to the formation of a contract EXCEPT
-performance
-consideration
-offer
-acceptance - ✔✔performance
✔✔Broker Janna was accused of violating antitrust laws. Of the following, she was
MOST likely accused of
-not having an equal housing opportunity sign in her office window
-dealing in unlicensed exchange services
-price fixing
-undisclosed dual agencies - ✔✔price fixing
✔✔Under license laws, real estate advertising must contain which of the following?
-company's address
-listing agent's name
-company's telephone number
-company name or principal broker's name - ✔✔Company name or principal broker's
name
✔✔A property owner contracted to have a swimming pool installed on her property.
When the pool was completed, she refused to pay for the improvement, and the
contractor filed a lien for nonpayment. This lien was most likely a
-specific lien
-general lien
-special lien
-voluntary lien - ✔✔specific lien
✔✔Charging more interest than is legally allowed is known as
-usury
-a deficiency
-escheat
-an estoppel - ✔✔usury
✔✔A third party holds title to property on behalf of someone else through the use of a
-devise
-deed in trust
-bequest
-quitclaim deed - ✔✔deed in trust
✔✔Broker Kenneth arrives to present a purchase offer to Dorita, an invalid, and finds
her son and his wife also present. In the presence of Broker Kenneth, both individuals
