PSI Real Estate Salesperson exam 1 QUESTIONS WITH COMPLETE SOLUTIONS

Which of the following would NOT be considered Real Property? 1. Mineral Rights 2. A Leasehold Estate 3. Fixtures 4. Air correct answer: 2. A Leasehold Estate The servient estate in an easement appurtenant is the property 1. owned by the landlord 2. on which the easement is placed 3. owned by the tenant 4. that benefits from the easement correct answer: 2. on which the easement is placed Which of the following statements concerning encumbrances is NOT true 1. All encumbrances are liens 2. All liens are encumbrances 3. Restrictions beneficial to the grantee are encumbrances 4. An easement is a physical encumbrance correct answer: 1. All encumbrances are liens Which of the following is not a specific lien? 1. Mortgage Lien 2. State inheritance tax 3. Real Estate taxes 4. Mechanic's Lien correct answer: 2. State Inheritance tax You have entered into a lease that requires you to