PA real estate exam; Questions with Complete
Solutions
Bilateral Correct Answer-What is a type of contract in which two parties are
legally bound to act?
Grantee Correct Answer-What is the name of the party who acquires the title
to real property in a deed?
Biennial Correct Answer-What is one word that indicates how often a
Pennsylvania salesperson's license is required to be renewed?
Testate Correct Answer-What is the condition called when a person dies with
a will?
Lis Pendens Correct Answer-What is the recorded legal notice that shows
existing court action against real property?
Capitalization Correct Answer-What is the process of estimating the value of
real property by using the rate of return and the annual net income?
,PA real estate exam; Questions with Complete
Solutions
Open End Mortgage Correct Answer-What is the type of mortgage in which
the mortgagor could receive future advances by increasing the the debt up to its
original amount?
Redlining Correct Answer-What is the act called of denying mortgages to
applicants from a certain area based on factors other than financial
qualifications?
$2800 Correct Answer-How much money would be charged as the result of a
four point origination fee on a $95,000 property on which there is a $70,000
mortgage?
Statue of Fraud Correct Answer-What is the name of the state law that
requires agreements of sale to be in writing?
Constructive Eviction Correct Answer-What is the name of the process by
which a tenant is allowed to abandon a leased property without legal
consequences if the landlord causes that leased property to become
uninhabitable?
,PA real estate exam; Questions with Complete
Solutions
Usury Correct Answer-What is the practice of charging a rate of interest that
is higher than is allowed by state law?
Title Theory Correct Answer-The lender is the owner of the mortgaged real
estate according to what theory of mortgage law?
Suit or Action to Quiet Title Correct Answer-What is filed in court to settle a
cloud on the title and determine the ownership of real property?
Satisfaction of Mortgage Correct Answer-What recorded document indicates
that the mortgage has been paid in full?
Debt Correct Answer-What is any amount of money that is charged to
someone on a closing statement and is required to be paid?
Easement in Gross Correct Answer-The right of way held by a railroad is an
example of what type of easement?
Avulsion Correct Answer-The unexpected and dramatic loss of land as the
result of an earthquake is represented by what real estate term?
, PA real estate exam; Questions with Complete
Solutions
43,560 Correct Answer-How many square feet are within acre of land?
Ad Valorem Correct Answer-Because a tax on real property is based not on
the value of the property it is known as what type of tax?
Chattels, Personalty Correct Answer-List two term that mean personal
property
Abstract of Title Correct Answer-A brief history of the titles for a piece of
land. What is this called?
Eminent Domain Correct Answer-What is the ability of the government to
acquire real property against the wish of the owner to benefit the general
public?
Devise Correct Answer-When real property is conveyed to a party through a
will, the real property is referred to by what term?
Solutions
Bilateral Correct Answer-What is a type of contract in which two parties are
legally bound to act?
Grantee Correct Answer-What is the name of the party who acquires the title
to real property in a deed?
Biennial Correct Answer-What is one word that indicates how often a
Pennsylvania salesperson's license is required to be renewed?
Testate Correct Answer-What is the condition called when a person dies with
a will?
Lis Pendens Correct Answer-What is the recorded legal notice that shows
existing court action against real property?
Capitalization Correct Answer-What is the process of estimating the value of
real property by using the rate of return and the annual net income?
,PA real estate exam; Questions with Complete
Solutions
Open End Mortgage Correct Answer-What is the type of mortgage in which
the mortgagor could receive future advances by increasing the the debt up to its
original amount?
Redlining Correct Answer-What is the act called of denying mortgages to
applicants from a certain area based on factors other than financial
qualifications?
$2800 Correct Answer-How much money would be charged as the result of a
four point origination fee on a $95,000 property on which there is a $70,000
mortgage?
Statue of Fraud Correct Answer-What is the name of the state law that
requires agreements of sale to be in writing?
Constructive Eviction Correct Answer-What is the name of the process by
which a tenant is allowed to abandon a leased property without legal
consequences if the landlord causes that leased property to become
uninhabitable?
,PA real estate exam; Questions with Complete
Solutions
Usury Correct Answer-What is the practice of charging a rate of interest that
is higher than is allowed by state law?
Title Theory Correct Answer-The lender is the owner of the mortgaged real
estate according to what theory of mortgage law?
Suit or Action to Quiet Title Correct Answer-What is filed in court to settle a
cloud on the title and determine the ownership of real property?
Satisfaction of Mortgage Correct Answer-What recorded document indicates
that the mortgage has been paid in full?
Debt Correct Answer-What is any amount of money that is charged to
someone on a closing statement and is required to be paid?
Easement in Gross Correct Answer-The right of way held by a railroad is an
example of what type of easement?
Avulsion Correct Answer-The unexpected and dramatic loss of land as the
result of an earthquake is represented by what real estate term?
, PA real estate exam; Questions with Complete
Solutions
43,560 Correct Answer-How many square feet are within acre of land?
Ad Valorem Correct Answer-Because a tax on real property is based not on
the value of the property it is known as what type of tax?
Chattels, Personalty Correct Answer-List two term that mean personal
property
Abstract of Title Correct Answer-A brief history of the titles for a piece of
land. What is this called?
Eminent Domain Correct Answer-What is the ability of the government to
acquire real property against the wish of the owner to benefit the general
public?
Devise Correct Answer-When real property is conveyed to a party through a
will, the real property is referred to by what term?
