real estate REE3043 UPDATED ACTUAL
Exam Questions and CORRECT Answers
A market where tenants negotiate rent and other terms with property owners or their managers is
referred to as a - CORRECT ANSWER - User Market
The market in which required rates of return on available investment opportunities are
determined is referred to as the: - CORRECT ANSWER - Capital Market
The actions of local, state, and federal governments affect real estate values - CORRECT
ANSWER - All of the above
Approximately what portion of U.S. households own their own home? - CORRECT
ANSWER - Approximately two thirds
Of the following asset categories, which class has the greatest aggregate market value? -
CORRECT ANSWER - Non Government real estate
Storm water drainage systems are best described as: - CORRECT ANSWER -
improvements to the land
What is the single largest asset category, in terms of value, in the portfolio of the typical U.S.
household? - CORRECT ANSWER - Housing
Real estate markets differ from other asset classes by having all of the following characteristics
except: - CORRECT ANSWER - homogeneous product
Which of the following is not important to the location of commercial properties? - CORRECT
ANSWER - access to schools
, Which of the following attributes of a home are the most difficult to observe and value? -
CORRECT ANSWER - location attributes
Which of the following is not a form of property right? - CORRECT ANSWER - License
Which of these easements is most likely to be an easement in gross? - CORRECT
ANSWER - Power line easement
Rules used by courts to determine whether something is a fixture include all except: -
CORRECT ANSWER - Law of capture.
Which of the following is a titled estate? - CORRECT ANSWER - All of these.
Which of these forms of co-ownership could best be described as "normal ownership," except
that multiple owners share identically in one bundle of rights? - CORRECT ANSWER -
Tenancy in common
Which of these marriage-related forms of co-ownership gives each spouse a one-
half interest in any property that is "fruits of the marriage"? - CORRECT ANSWER -
Community property
Which of these liens has the highest priority? - CORRECT ANSWER - Property tax lien
Restrictive covenants for a subdivision usually can be enforced by: - CORRECT
ANSWER - a and b, but not c
Timeshare programs can involve which of the following claims or interests? - CORRECT
ANSWER - All of these are possible
Exam Questions and CORRECT Answers
A market where tenants negotiate rent and other terms with property owners or their managers is
referred to as a - CORRECT ANSWER - User Market
The market in which required rates of return on available investment opportunities are
determined is referred to as the: - CORRECT ANSWER - Capital Market
The actions of local, state, and federal governments affect real estate values - CORRECT
ANSWER - All of the above
Approximately what portion of U.S. households own their own home? - CORRECT
ANSWER - Approximately two thirds
Of the following asset categories, which class has the greatest aggregate market value? -
CORRECT ANSWER - Non Government real estate
Storm water drainage systems are best described as: - CORRECT ANSWER -
improvements to the land
What is the single largest asset category, in terms of value, in the portfolio of the typical U.S.
household? - CORRECT ANSWER - Housing
Real estate markets differ from other asset classes by having all of the following characteristics
except: - CORRECT ANSWER - homogeneous product
Which of the following is not important to the location of commercial properties? - CORRECT
ANSWER - access to schools
, Which of the following attributes of a home are the most difficult to observe and value? -
CORRECT ANSWER - location attributes
Which of the following is not a form of property right? - CORRECT ANSWER - License
Which of these easements is most likely to be an easement in gross? - CORRECT
ANSWER - Power line easement
Rules used by courts to determine whether something is a fixture include all except: -
CORRECT ANSWER - Law of capture.
Which of the following is a titled estate? - CORRECT ANSWER - All of these.
Which of these forms of co-ownership could best be described as "normal ownership," except
that multiple owners share identically in one bundle of rights? - CORRECT ANSWER -
Tenancy in common
Which of these marriage-related forms of co-ownership gives each spouse a one-
half interest in any property that is "fruits of the marriage"? - CORRECT ANSWER -
Community property
Which of these liens has the highest priority? - CORRECT ANSWER - Property tax lien
Restrictive covenants for a subdivision usually can be enforced by: - CORRECT
ANSWER - a and b, but not c
Timeshare programs can involve which of the following claims or interests? - CORRECT
ANSWER - All of these are possible
