Written by students who passed Immediately available after payment Read online or as PDF Wrong document? Swap it for free 4.6 TrustPilot
logo-home
Document preview thumbnail
Preview 4 out of 118 pages
Exam (elaborations)

Rockwell Exam Real Estate Classes WA Final Exam 1 Questions and Answers 100% Pass

Document preview thumbnail
Preview 4 out of 118 pages

Rockwell Exam Real Estate Classes WA Final Exam 1 Questions and Answers 100% Pass A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the remainderman. When Ben dies, what kind of interest does Will receive? A. Fee Simple Estate B. Life Estate 2 | P a g e Katelyn Whitman© 2025, All Rights Reserved. C. Remainder Interest D. Reversionary Interest - A. Fee Simple Estate The interest that passes to a designated person upon the death of a life tenant (or other measuring life) is a fee simple estate. Will has a remainder interest only up until the moment Ben dies. Once Ben is dead, Will's interest immediately becomes a fee simple interest. A buyer accepts a general warranty deed from a seller, believing that the seller is the sole owner of the property. The buyer later finds out that the seller is only a co-owner. Has a covenant in the general warranty deed been violated? A. No, the only covenant in a general warranty deed promises that the previous owner didn't encumber the property B. No, the principle of caveat emptor controls matters concerning a deed C. Yes, there is a covenant providing equitable title D. Yes, there is a covenant providing marketable title - D. Yes, there is a covenant providing marketable title 3 | P a g e Katelyn Whitman© 2025, All Rights Reserved. The general warranty deed contains a covenant of the right to convey, meaning that the grantor either has title to the interest or is an agent of the owner with the authority to transfer the interest. A plaintiff files a lawsuit involving a property and also files a separate document intended to provide notice of the lawsuit. This recorded notice of a pending legal action is called a/ an: A. Abstract of judgement B. Petition for alienation C. Writ of execution D. Lis Pendens - D. Lis Pendens A Lis Pendens is a recorded notice stating that there is a lawsuit pending that may affect title to the defendant's real estate and that could bind the purchaser of the property. A movie theater was built ten years ago. If the neighborhood is now zoned entirely residential, the movie theater: A. will have to be torn down B. must be remodeled to better conform to the neighborhood's intended use C. will be allowed to continue if the owner obtains a conditional use permit 4 | P a g e Katelyn Whitman© 2025, All Rights Reserved. D. will be allowed to continue since it was built before the new zoning law went into effect - D. Will be allowed to continue since it was built before the new zoning law went into effect The movie theater is an example of a nonconforming use, which predated a zoning change. Nonconforming uses are generally allowed to continue, although they may not be enlarged, or resumed if they are stopped. In a bilateral contract: A. a duty wil be performed by only one party B. one party can restrict the performance of another party C. two parties have exchanged promises, and both parties are obligated to perform D. all parties have fully performed their duties - C. two parties have exchanged promises, and both parties are obligated to perform In a bilateral contract, two parties have exchange

Content preview

1|Page




Rockwell Exam Real Estate Classes
WA Final Exam 1 Questions and
Answers 100% Pass

A buyer purchases a rental home that is fully furnished. The document used to transfer

title to the furniture is:


a. quitclaim deed


b. bill of sale


c. special warranty deed


d. general warranty deed - ✔✔b. bill of sale




Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to

personal property.


Ben receives a life estate in a property, with his nephew Will designated as the

remainderman. When Ben dies, what kind of interest does Will receive?


A. Fee Simple Estate


B. Life Estate


Katelyn Whitman© 2025, All Rights Reserved.

, 2|Page


C. Remainder Interest


D. Reversionary Interest - ✔✔A. Fee Simple Estate




The interest that passes to a designated person upon the death of a life tenant (or other

measuring life) is a fee simple estate. Will has a remainder interest only up until the

moment Ben dies. Once Ben is dead, Will's interest immediately becomes a fee simple

interest.


A buyer accepts a general warranty deed from a seller, believing that the seller is the

sole owner of the property. The buyer later finds out that the seller is only a co-owner.

Has a covenant in the general warranty deed been violated?


A. No, the only covenant in a general warranty deed promises that the previous owner

didn't encumber the property


B. No, the principle of caveat emptor controls matters concerning a deed


C. Yes, there is a covenant providing equitable title


D. Yes, there is a covenant providing marketable title - ✔✔D. Yes, there is a covenant

providing marketable title




Katelyn Whitman© 2025, All Rights Reserved.

, 3|Page


The general warranty deed contains a covenant of the right to convey, meaning that the

grantor either has title to the interest or is an agent of the owner with the authority to

transfer the interest.


A plaintiff files a lawsuit involving a property and also files a separate document

intended to provide notice of the lawsuit. This recorded notice of a pending legal action

is called a/ an:


A. Abstract of judgement


B. Petition for alienation


C. Writ of execution


D. Lis Pendens - ✔✔D. Lis Pendens




A Lis Pendens is a recorded notice stating that there is a lawsuit pending that may affect

title to the defendant's real estate and that could bind the purchaser of the property.


A movie theater was built ten years ago. If the neighborhood is now zoned entirely

residential, the movie theater:


A. will have to be torn down


B. must be remodeled to better conform to the neighborhood's intended use


C. will be allowed to continue if the owner obtains a conditional use permit




Katelyn Whitman© 2025, All Rights Reserved.

, 4|Page


D. will be allowed to continue since it was built before the new zoning law went into

effect - ✔✔D. Will be allowed to continue since it was built before the new zoning law

went into effect




The movie theater is an example of a nonconforming use, which predated a zoning

change. Nonconforming uses are generally allowed to continue, although they may not

be enlarged, or resumed if they are stopped.


In a bilateral contract:


A. a duty wil be performed by only one party


B. one party can restrict the performance of another party


C. two parties have exchanged promises, and both parties are obligated to perform


D. all parties have fully performed their duties - ✔✔C. two parties have exchanged

promises, and both parties are obligated to perform




In a bilateral contract, two parties have exchanged promises and both parties are

obligated to perform. (Bi=two way)


Gerald engages a licensee to list his property and find a buyer for it. In this context, the

licensee is acting as a:


A. General agent


Katelyn Whitman© 2025, All Rights Reserved.

Document information

Uploaded on
December 30, 2024
Number of pages
118
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers
$14.99

Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF

Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
KatelynWhitman
3.6
(259)
Sold
1249
Followers
485
Items
43825
Last sold
10 hours ago




Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Working on your references?

Frequently asked questions