PENNSYLVANIA REAL ESTATE FUNDAMENTALS FINAL EXAM ACTUA
Pennsylvania Real Estate Fundamentals final exam A
EXAM COMPLETE QUESTIONS WITH DETAILED VERIFIED ANSWERS
Study online at https://quizlet.com/_g8yn3h
(100% CORRECT ANSWERS) /ALREADY GRADED A+
1. 1 . The clause in a trust deed or mortgage that permits acceleration clause .
the lender to declare the entire unpaid balance imme-
diately due and payable upon default is the
2. The phrase " bundle of legal rights " is properly includ- the definition of real prop-
ed in erty .
3. In Pennsylvania , mine subsidence refers to subsurface rights .
4. A subdivider divided the acreage in to lots and built dedication
the streets . As the development grows , the subdivider
intends to give the streets to the local municipality .
This is an example of
5. An owner leases store space to a tenant to operate a The items do not become
restaurant . The tenant has installed ovens , booths , real property , and they re-
counters , and other equipment . When would these main the tenant's personal
items become real property ? property
6. tenant's personal property . What is the general real Ad valorem tax
estate tax that generates the most revenue ?
7. In regulations regarding lead - based paint , the De- known paint hazards must
partment of Housing and Urban Development ( HUD ) be disclosed .
requires that
8. The purpose of the Recovery Fund is to enable people to receive payment
of uncollected judgments
licensees .
9. The Pennsylvania Seller Property Disclosure requires source of drinking water
the disclosure of
10. Which is the value used in calculating annual taxes ? Assessment
1/6
, Pennsylvania Real Estate Fundamentals final exam A
Study online at https://quizlet.com/_g8yn3h
11. disclosure 10 . Under what environmental law are CERCLA
landowners held liable when a release of a hazardous
material occurs on their land ?
12. What is TRUE about all unilateral contracts ? Only one party is obligated
to act .
13. What inspection is required for federally funded pro- Environmental impact
jects ? statement
14. 13 projects Which is characteristic of a metes - and - Point of beginning
bounds legal description ?
15. A father and son have decided to sell the family farm warranty deed
that they have co - owned for 35 years . The deed that
will be delivered at settlement of such a sale is a
16. The surveyor has been asked to identify the location , spot survey
size , and shape of the buildings on the lot . This is a
17. Which is acceptable evidence of marketable title ? Title insurance policy
18. What type of properties always include an elevation Condominiums
measurement ?
19. The Commission requires a specific form for purchase agreements .
20. Which is considered a defeasible fee ? Fee simple
21. 21 The owner of 50 acres of land with 500 feet of An appurtenant easement
frontage on a desirable recreational lake wishes to
subdivide the parcel into salable lots . She wants to
retain control over the lake frontage while allowing lot
2/6
Pennsylvania Real Estate Fundamentals final exam A
EXAM COMPLETE QUESTIONS WITH DETAILED VERIFIED ANSWERS
Study online at https://quizlet.com/_g8yn3h
(100% CORRECT ANSWERS) /ALREADY GRADED A+
1. 1 . The clause in a trust deed or mortgage that permits acceleration clause .
the lender to declare the entire unpaid balance imme-
diately due and payable upon default is the
2. The phrase " bundle of legal rights " is properly includ- the definition of real prop-
ed in erty .
3. In Pennsylvania , mine subsidence refers to subsurface rights .
4. A subdivider divided the acreage in to lots and built dedication
the streets . As the development grows , the subdivider
intends to give the streets to the local municipality .
This is an example of
5. An owner leases store space to a tenant to operate a The items do not become
restaurant . The tenant has installed ovens , booths , real property , and they re-
counters , and other equipment . When would these main the tenant's personal
items become real property ? property
6. tenant's personal property . What is the general real Ad valorem tax
estate tax that generates the most revenue ?
7. In regulations regarding lead - based paint , the De- known paint hazards must
partment of Housing and Urban Development ( HUD ) be disclosed .
requires that
8. The purpose of the Recovery Fund is to enable people to receive payment
of uncollected judgments
licensees .
9. The Pennsylvania Seller Property Disclosure requires source of drinking water
the disclosure of
10. Which is the value used in calculating annual taxes ? Assessment
1/6
, Pennsylvania Real Estate Fundamentals final exam A
Study online at https://quizlet.com/_g8yn3h
11. disclosure 10 . Under what environmental law are CERCLA
landowners held liable when a release of a hazardous
material occurs on their land ?
12. What is TRUE about all unilateral contracts ? Only one party is obligated
to act .
13. What inspection is required for federally funded pro- Environmental impact
jects ? statement
14. 13 projects Which is characteristic of a metes - and - Point of beginning
bounds legal description ?
15. A father and son have decided to sell the family farm warranty deed
that they have co - owned for 35 years . The deed that
will be delivered at settlement of such a sale is a
16. The surveyor has been asked to identify the location , spot survey
size , and shape of the buildings on the lot . This is a
17. Which is acceptable evidence of marketable title ? Title insurance policy
18. What type of properties always include an elevation Condominiums
measurement ?
19. The Commission requires a specific form for purchase agreements .
20. Which is considered a defeasible fee ? Fee simple
21. 21 The owner of 50 acres of land with 500 feet of An appurtenant easement
frontage on a desirable recreational lake wishes to
subdivide the parcel into salable lots . She wants to
retain control over the lake frontage while allowing lot
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