ASREB Chapter 1 Study UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Property rights that go with ownership of real property are referred to as the - CORRECT
ANSWER - bundle of rights
Surface of the earth, below to the center, and above with all natural things, is - CORRECT
ANSWER - land
Personal property is conveyed with a document called a - CORRECT ANSWER - bill of
sale
Naturally growing plants are considered - CORRECT ANSWER - real property
Emblements are considered - CORRECT ANSWER - personal property
An item which was once personal property but is now real property is a - CORRECT
ANSWER - fixture
Ownership of trade fixtures depend on - CORRECT ANSWER - when it is
removed/expiration of the lease
Cost - CORRECT ANSWER - is not a factor in determining if an item is a fixture.
situs - CORRECT ANSWER - people's preference for a certain area is called
deed - CORRECT ANSWER - the document used to transfer real property
ACTUAL Exam Questions and CORRECT
Answers
Property rights that go with ownership of real property are referred to as the - CORRECT
ANSWER - bundle of rights
Surface of the earth, below to the center, and above with all natural things, is - CORRECT
ANSWER - land
Personal property is conveyed with a document called a - CORRECT ANSWER - bill of
sale
Naturally growing plants are considered - CORRECT ANSWER - real property
Emblements are considered - CORRECT ANSWER - personal property
An item which was once personal property but is now real property is a - CORRECT
ANSWER - fixture
Ownership of trade fixtures depend on - CORRECT ANSWER - when it is
removed/expiration of the lease
Cost - CORRECT ANSWER - is not a factor in determining if an item is a fixture.
situs - CORRECT ANSWER - people's preference for a certain area is called
deed - CORRECT ANSWER - the document used to transfer real property
