BARNEY FLETCHER REAL ESTATE FINAL EXAM 2026
WITH CORRECT QUESTIONS AND CORRECT
ANSWERS
1. Real property is best described as:
A. Personal property attached temporarily to land
B. Land and all permanent improvements, plus bundle of rights
C. Only the surface of the earth
D. Movable property used in business
Correct Answer: B
Rationale: Real property includes land, improvements permanently attached to land, and the legal
rights associated with ownership.
2. Which of the following is considered personal property?
A. Built-in dishwasher
B. Shade trees
C. Freestanding refrigerator
D. Central air conditioning unit
Correct Answer: C
Rationale: A freestanding refrigerator is generally not permanently attached and is considered
personal property unless otherwise agreed.
3. The term “bundle of rights” includes all of the following EXCEPT:
A. Right of possession
B. Right of disposition
C. Right of exclusion
D. Right of police power
,Correct Answer: D
Rationale: Police power belongs to government, not the private property owner. The bundle of
rights includes possession, control, enjoyment, exclusion, and disposition.
4. Which test is commonly used to determine whether an item is a fixture?
A. Doctrine of laches
B. MARIA
C. Principle of substitution
D. Situs test
Correct Answer: B
Rationale: MARIA stands for Method of attachment, Adaptability, Relationship of parties, Intention,
and Agreement.
5. Trade fixtures are:
A. Always considered part of the real estate
B. Fixtures installed by a tenant for business use
C. Items that can never be removed
D. Fixtures installed by a landlord only
Correct Answer: B
Rationale: Trade fixtures are installed by a commercial tenant for conducting business and may
usually be removed before lease expiration if no damage results.
6. The process by which personal property becomes real property is called:
A. Annexation
B. Avulsion
C. Accretion
D. Conversion
Correct Answer: A
,Rationale: Annexation is the act of attaching personal property to real property so that it becomes
part of the real estate.
7. Freehold estates include:
A. Leasehold estates only
B. Estates of ownership
C. Personal property interests
D. Security interests only
Correct Answer: B
Rationale: Freehold estates involve ownership interests of uncertain duration, such as fee simple
and life estates.
8. The greatest form of ownership in real estate is:
A. Defeasible fee
B. Life estate
C. Fee simple absolute
D. Leasehold estate
Correct Answer: C
Rationale: Fee simple absolute is the highest form of ownership with the most complete bundle of
rights.
9. A life estate is measured by:
A. A fixed number of years
B. The life of a person
C. The lender’s requirements
D. The property tax cycle
Correct Answer: B
Rationale: A life estate lasts for the duration of a designated person’s life.
, 10. Upon termination of a life estate, ownership reverts to the:
A. Lessee
B. Remainderman or grantor
C. Mortgagee
D. Tenant in common
Correct Answer: B
Rationale: At the end of a life estate, title passes to the remainderman or back to the original
grantor’s estate.
11. Which form of co-ownership includes the right of survivorship?
A. Tenancy in common
B. Joint tenancy
C. Severalty
D. Community property without survivorship
Correct Answer: B
Rationale: Joint tenancy is characterized by equal ownership and the right of survivorship.
12. The four unities associated with joint tenancy are:
A. Possession, title, value, estate
B. Time, title, interest, possession
C. Control, ownership, possession, duration
D. Time, use, ownership, title
Correct Answer: B
Rationale: Joint tenancy requires the four unities: time, title, interest, and possession.
13. In a tenancy in common:
A. Owners must hold equal shares
B. There is a right of survivorship
WITH CORRECT QUESTIONS AND CORRECT
ANSWERS
1. Real property is best described as:
A. Personal property attached temporarily to land
B. Land and all permanent improvements, plus bundle of rights
C. Only the surface of the earth
D. Movable property used in business
Correct Answer: B
Rationale: Real property includes land, improvements permanently attached to land, and the legal
rights associated with ownership.
2. Which of the following is considered personal property?
A. Built-in dishwasher
B. Shade trees
C. Freestanding refrigerator
D. Central air conditioning unit
Correct Answer: C
Rationale: A freestanding refrigerator is generally not permanently attached and is considered
personal property unless otherwise agreed.
3. The term “bundle of rights” includes all of the following EXCEPT:
A. Right of possession
B. Right of disposition
C. Right of exclusion
D. Right of police power
,Correct Answer: D
Rationale: Police power belongs to government, not the private property owner. The bundle of
rights includes possession, control, enjoyment, exclusion, and disposition.
4. Which test is commonly used to determine whether an item is a fixture?
A. Doctrine of laches
B. MARIA
C. Principle of substitution
D. Situs test
Correct Answer: B
Rationale: MARIA stands for Method of attachment, Adaptability, Relationship of parties, Intention,
and Agreement.
5. Trade fixtures are:
A. Always considered part of the real estate
B. Fixtures installed by a tenant for business use
C. Items that can never be removed
D. Fixtures installed by a landlord only
Correct Answer: B
Rationale: Trade fixtures are installed by a commercial tenant for conducting business and may
usually be removed before lease expiration if no damage results.
6. The process by which personal property becomes real property is called:
A. Annexation
B. Avulsion
C. Accretion
D. Conversion
Correct Answer: A
,Rationale: Annexation is the act of attaching personal property to real property so that it becomes
part of the real estate.
7. Freehold estates include:
A. Leasehold estates only
B. Estates of ownership
C. Personal property interests
D. Security interests only
Correct Answer: B
Rationale: Freehold estates involve ownership interests of uncertain duration, such as fee simple
and life estates.
8. The greatest form of ownership in real estate is:
A. Defeasible fee
B. Life estate
C. Fee simple absolute
D. Leasehold estate
Correct Answer: C
Rationale: Fee simple absolute is the highest form of ownership with the most complete bundle of
rights.
9. A life estate is measured by:
A. A fixed number of years
B. The life of a person
C. The lender’s requirements
D. The property tax cycle
Correct Answer: B
Rationale: A life estate lasts for the duration of a designated person’s life.
, 10. Upon termination of a life estate, ownership reverts to the:
A. Lessee
B. Remainderman or grantor
C. Mortgagee
D. Tenant in common
Correct Answer: B
Rationale: At the end of a life estate, title passes to the remainderman or back to the original
grantor’s estate.
11. Which form of co-ownership includes the right of survivorship?
A. Tenancy in common
B. Joint tenancy
C. Severalty
D. Community property without survivorship
Correct Answer: B
Rationale: Joint tenancy is characterized by equal ownership and the right of survivorship.
12. The four unities associated with joint tenancy are:
A. Possession, title, value, estate
B. Time, title, interest, possession
C. Control, ownership, possession, duration
D. Time, use, ownership, title
Correct Answer: B
Rationale: Joint tenancy requires the four unities: time, title, interest, and possession.
13. In a tenancy in common:
A. Owners must hold equal shares
B. There is a right of survivorship
