Ohio Real Estate Module Quizzes EXAM
QUESTIONS COMPLETE ACCURATE REAL EXAM
QUESTIONS WITH WELL ELABORATED ANSWERS
AND RATIONALES (100% CORRECT VERIFIED
SOLUTIONS) GUARANTEED PASS A+|BRAND NEW!
Ohio Real Estate Principles and Practices
Module 1
Rights that transfer with the sale of real property are said to "run with
the land". These are known as
Appurtenances
The town of Oakley is known for the pottery factory on the north side.
It employs hundreds of people and ships products all over the world.
When the pottery factory laid off half its workers, many moved away to
find work. What would be the expected impact on the town?
It would likely result in a buyer's market.
Lisa lives in a house on the banks of the Ohio River. She has
_________ rights, which means that she ________ the land under the
water.
riparian / does not own
,A buyer purchases a rental home that is fully furnished. The document
used to transfer title to the furniture is a
bill of sale.
When considering a career in real estate sales, which is MOST LIKELY to
be an advantage?
control of your own time
Helen has lived in her home for 30 years with her sister in law Amy.
Helen has one daughter, Erin. If Helen dies before Amy, Helen wants to
make sure that Amy is still allowed to live in the home, so she grants
Amy a life estate. Helen dies. After ten years, Amy also dies. Which
statement is true?
Amy is both the life tenant and the measure life for the estate; Erin has
a reversionary interest.
Explanation: The Property goes to Erin when the life estate ends as
Helen's heir; she has a reversionary interest and is not the
remainderman. The life estate continues as long as the life tenant, Amy,
lives and cannot be terminated except by death or Amy's choice. Amy
is both the life tenant and the measuring life for the estate.
,Harvey owns a small commercial building that he rents to Lucy, who
opens a ceramics shop. Lucy installs a kiln. Four years later, Harvey sells
the property to Ann, who wants to start her own pottery business.
When Lucy's lease is up, who owns the kiln?
Lucy
Lucy, the tenant, installed the kiln for her business. It's a trade fixture,
and it's her personal property. Lucy would have to remove it when her
lease is up, or she could sell the kiln to Ann if they can agree to terms.
Which is NOT one of the broad factors that impact the real estate
market?
Appurtenant factors
There are essentially four broad factors that affect all markets, including
real estate: physical, economic, governmental, social
What is the best option to describe a right that is held by one or more
persons to use and possess property to the exclusion of others?
Fee simple estate
An estate is an interest in land that is or may become possessory. A fee
simple estate is the most common type of estate. An easement, in
contrast, allows the use of the property but is not a possessory right.
, Jared has an easement to drive across his neighbor Vicky's property to
get to his barn. Jared's property is known as the ____tenement.
dominant
Title is passed once a deed is
Delivered and accepted
Which is an example of involuntary alienation?
Condemning a strip of land to build a highway
Evercrusty Pie, Inc. just bought an old warehouse to turn into a state-
of-the-art bakery. How does Evercrusty take ownership of the
property?
in severalty
Of these, which would MOST LIKELY be an example of personal
property?
apples just picked off a tree
An apple tree would be real property, but the apples are personal
property once they are picked.
QUESTIONS COMPLETE ACCURATE REAL EXAM
QUESTIONS WITH WELL ELABORATED ANSWERS
AND RATIONALES (100% CORRECT VERIFIED
SOLUTIONS) GUARANTEED PASS A+|BRAND NEW!
Ohio Real Estate Principles and Practices
Module 1
Rights that transfer with the sale of real property are said to "run with
the land". These are known as
Appurtenances
The town of Oakley is known for the pottery factory on the north side.
It employs hundreds of people and ships products all over the world.
When the pottery factory laid off half its workers, many moved away to
find work. What would be the expected impact on the town?
It would likely result in a buyer's market.
Lisa lives in a house on the banks of the Ohio River. She has
_________ rights, which means that she ________ the land under the
water.
riparian / does not own
,A buyer purchases a rental home that is fully furnished. The document
used to transfer title to the furniture is a
bill of sale.
When considering a career in real estate sales, which is MOST LIKELY to
be an advantage?
control of your own time
Helen has lived in her home for 30 years with her sister in law Amy.
Helen has one daughter, Erin. If Helen dies before Amy, Helen wants to
make sure that Amy is still allowed to live in the home, so she grants
Amy a life estate. Helen dies. After ten years, Amy also dies. Which
statement is true?
Amy is both the life tenant and the measure life for the estate; Erin has
a reversionary interest.
Explanation: The Property goes to Erin when the life estate ends as
Helen's heir; she has a reversionary interest and is not the
remainderman. The life estate continues as long as the life tenant, Amy,
lives and cannot be terminated except by death or Amy's choice. Amy
is both the life tenant and the measuring life for the estate.
,Harvey owns a small commercial building that he rents to Lucy, who
opens a ceramics shop. Lucy installs a kiln. Four years later, Harvey sells
the property to Ann, who wants to start her own pottery business.
When Lucy's lease is up, who owns the kiln?
Lucy
Lucy, the tenant, installed the kiln for her business. It's a trade fixture,
and it's her personal property. Lucy would have to remove it when her
lease is up, or she could sell the kiln to Ann if they can agree to terms.
Which is NOT one of the broad factors that impact the real estate
market?
Appurtenant factors
There are essentially four broad factors that affect all markets, including
real estate: physical, economic, governmental, social
What is the best option to describe a right that is held by one or more
persons to use and possess property to the exclusion of others?
Fee simple estate
An estate is an interest in land that is or may become possessory. A fee
simple estate is the most common type of estate. An easement, in
contrast, allows the use of the property but is not a possessory right.
, Jared has an easement to drive across his neighbor Vicky's property to
get to his barn. Jared's property is known as the ____tenement.
dominant
Title is passed once a deed is
Delivered and accepted
Which is an example of involuntary alienation?
Condemning a strip of land to build a highway
Evercrusty Pie, Inc. just bought an old warehouse to turn into a state-
of-the-art bakery. How does Evercrusty take ownership of the
property?
in severalty
Of these, which would MOST LIKELY be an example of personal
property?
apples just picked off a tree
An apple tree would be real property, but the apples are personal
property once they are picked.
