Exam Real Estate Version A Questions and Answers 100% Correct

Exam Real Estate Version A Questions and Answers 100% Correct Which of the following are required of deeds to be enforceable: - Answer- D. Grantors Signature Personal property could be: - Answer- D. Emblements Real property is: - Answer- B. Transferred by a deed What is it called when the government gives a parcel of real property back to a private citizen: - Answer- B. Vacation A chain of title: - Answer- D. Lists all the grantors and grantees since the beginning A grantor is: - Answer- A. Person transferring real property Consideration is: - Answer- A. Money or valuables Emblements are: - Answer- C. Regarded as personal Property A fixture is: - Answer- B. Once personal property, now attached, now becomes real property Dower and curtsey are: - Answer- D. Freehold estates- life- legal A legal way to own real property would be: - Answer- D. Servient tenement in an easement A piece of Nevada real property sold for $125,500 and the rate of commission was 6 percent. If the salesperson received $2,484.90, what percentage of the 6 percent commission was he paid? - Answer- C. 33% If a person dies intestate and has no heirs, the real property reverts to the state. This is called: - Answer- A. Escheat In taking title by tenant in the entirety all parties must be: - Answer- A. Married A trust: - Answer- D. Is between the trustee and beneficiary A syndication is: - Answer- D. 1 and 3 What is a non-negotiable security instrument on real property called: - Answer- A. Mortgage/trust deed Which of the following is issued by a trustee that states the loan is paid in full and gives all rights and privileges back to the former trustor: - Answer- C. Deed of reconveyance Alienation is a clause in a real estate security agreement that allows for: - Answer- C. Balance of debt becomes immediately due and payable if the interest in the real property is sold without notifying the note holder Which of the following best describes a vendor: - Answer- D. Has legal title Which of the following is an objective that a property manager should meet: - Answer- D. All of the Above An appurtenance: - Answer- A. Attaches to the land Which of the following legal descriptions would you likely use to buy farm land: - Answer- A. Rectangular Survey System or Geodetic John bought 4 acres of Nevada real property in July of last year. After 6 months of ownership John elected to divide his property into two equal parts. How many square feet exists in either of the two new parcels? - Answer- D. 87,120 Sq. Ft. All liens are: - Answer- D. All the above Laches are: - Answer- B. The loss of legal titles due to failure to assert the