Perry Real Estate College Final Exam |
Comprehensive Real Estate Final Exam Practice
Questions & Verified Answers
2026–2027
,Fixture An item of personal property that has been converted to real property by being
permanently affixed to the realty.
Special Purpose Real Estate churches, schools, cemeteries, and government-held lands
Propriety lease the lease given to shareholders in a cooperative
Disposition Right to encumber
Control Right to determine interest of property
Accession Acquiring title to additions or improvements to real property as a result of a lease
ending
PITI Principal, Interest, Taxes, Insurance
Exclusion ability to legally refuse others interest
Yes Are Fixtures real property?
third Mortgage interest on a ____ home affects tax returns
Improvement any artificial thing attached on or below ground, such as a building, fence, water line
or sewer pipe, as well as growing things that are made part of the landscaping.
Deed A document that transfers ownership of property from one party to another.
federally related transaction Appraisals are required for
Condo An individually owned unit in an apartment-style complex with shared ownership of
common areas.Owned in fee simple + undivided joint interests
monetary policy factor in supply
, Old english law Bundle of legal rights comes from
Fructus Industriales An Emblements, considered real property, plant or crop that require annual
cultivation
Enjoyment possession without harassment or interference
Broker Point of contact between 2 or more people in negotiating the sale, rental or
purchase
FEMA administers the national flood insurance program
Chattel an item of personal, movable property
Subdivision the dividing of a single property into smaller parcels
Agency Not determined by source of compensation
Created by express agreement between parties and ratification, estoppel, and
implication
Net listings prohibited in some states
Agent Principal broker of firm
Puffing "Best deal in town"
Exclusive agency owner sold home herself and didn't owe a commission
Seller's decision Listed price of a property is always
Breached duty of loyalty Showing a buyer homes outside their price range
Agent is interested in a property they are showing a buyer and they make an offer
on it
"self dealing"
Comprehensive Real Estate Final Exam Practice
Questions & Verified Answers
2026–2027
,Fixture An item of personal property that has been converted to real property by being
permanently affixed to the realty.
Special Purpose Real Estate churches, schools, cemeteries, and government-held lands
Propriety lease the lease given to shareholders in a cooperative
Disposition Right to encumber
Control Right to determine interest of property
Accession Acquiring title to additions or improvements to real property as a result of a lease
ending
PITI Principal, Interest, Taxes, Insurance
Exclusion ability to legally refuse others interest
Yes Are Fixtures real property?
third Mortgage interest on a ____ home affects tax returns
Improvement any artificial thing attached on or below ground, such as a building, fence, water line
or sewer pipe, as well as growing things that are made part of the landscaping.
Deed A document that transfers ownership of property from one party to another.
federally related transaction Appraisals are required for
Condo An individually owned unit in an apartment-style complex with shared ownership of
common areas.Owned in fee simple + undivided joint interests
monetary policy factor in supply
, Old english law Bundle of legal rights comes from
Fructus Industriales An Emblements, considered real property, plant or crop that require annual
cultivation
Enjoyment possession without harassment or interference
Broker Point of contact between 2 or more people in negotiating the sale, rental or
purchase
FEMA administers the national flood insurance program
Chattel an item of personal, movable property
Subdivision the dividing of a single property into smaller parcels
Agency Not determined by source of compensation
Created by express agreement between parties and ratification, estoppel, and
implication
Net listings prohibited in some states
Agent Principal broker of firm
Puffing "Best deal in town"
Exclusive agency owner sold home herself and didn't owe a commission
Seller's decision Listed price of a property is always
Breached duty of loyalty Showing a buyer homes outside their price range
Agent is interested in a property they are showing a buyer and they make an offer
on it
"self dealing"
