1. A property owner has decided to do some landscaping work on his yard. He
has planted a tree surrounded by some flowering shrubs. The tree and shrubs
are an example of... ANS >>> improvements
2. A property owner has a waterfront lot on a stream. He has the right to use
the water from the stream. What is this right called? ANS >>> riparian
3. A tenant is aware that his lease will expire at the end of the month. He has
begun to disassemble his display cabinets and shelves. Which of the following
https://www.stuvia.com/en-us/user/techgrades
, statements about this is true ANS >>> the tenant can take these as they are trade
fixtures
4. A seller is attending the closing on his property. The title company has
discovered an unsatisfied M&M lien on the property. Which of the following is
the most likely reason for the lien? ANS >>> plumbing work that was completed
but never paid for
5. A listing agent went to inspect a seller's property hoping to list it for sale.
The seller told the listing agent that his neighbor's satellite dish trespasses
on his property. This is an example of... ANS >>> encroachment
6. A father gives his son a life estate on a property. The son leases the property.
The tenant dies. What happens to the property? ANS >>> it goes back to the son
until he dies
7. A man leaves his second wife a life estate in their home after which the
property goes to his children from his first marriage. The children... ANS >>>
are re- maindermen
8. Which of the following statements about an easement is true? ANS >>> an
easement is a benefit to the dominant property owner
9. P, Q and R are joint tenants. P wants to sell the property, but Q and R do not.
What can P do? ANS >>> file a suit for partition
https://www.stuvia.com/en-us/user/techgrades
, 10. A, B and C are joint tenants. C dies. B sells his share to D. What type of
ownership do A and D have? ANS >>> tenants in common
11. Under what right can the government change property use from commer-
cial to residential only? ANS >>> police power
12. Ownership of the common areas of condominiums is most likely to be AN
>>> ANS >>> -
tenancy in common
13. What should a buyer do to ensure that his is getting the best title to real
property? ANS >>> get a general warranty deed
14. Which covenant in a deed guarantees that the owners will not suffer or be
disturbed by any claims on the property? ANS >>> the covenant of quiet
enjoyment
15. Excess money at a foreclosure sale goes to... ANS >>> the borrower
16. After defaulting on a real estate loan, a borrower is able to pay off the loan
prior to the foreclosure sale. This is called ANS >>> ANS >>> right of redemption
https://www.stuvia.com/en-us/user/techgrades
, 17. The required distance between buildings and a federally protected endan-
gered species wetlands is an example of... ANS >>> a buffer zone
18. A couple purchased a condominium. The complex has an exercise room for
all residents. The couple does not use the exercise room and does not want
to pay the monthly fee for the use of the facility. What can they do to avoid
this fee? ANS >>> they must pay the fee as they have a tenancy in common
interest in all common areas
19. Which of the following is personal property? ANS >>> a lease
20. A landlord leased space in his new retail property to an inexperienced
business person. Based on location and the type of business, the landlord
believes it will be a great success. What type of lease can he enter into with
the tenant that will allow the landlord to benefit from the tenant's success?
ANS >>> a percentage lease
21. A buyer has purchased a property and after closing the seller will continue
to occupy the property. This is an example of... ANS >>> sale and leaseback
22. Your client will be able to qualify for a property they wish to purchase in
about 6 months, after they had an opportunity to reduce their consumer debt.
https://www.stuvia.com/en-us/user/techgrades
has planted a tree surrounded by some flowering shrubs. The tree and shrubs
are an example of... ANS >>> improvements
2. A property owner has a waterfront lot on a stream. He has the right to use
the water from the stream. What is this right called? ANS >>> riparian
3. A tenant is aware that his lease will expire at the end of the month. He has
begun to disassemble his display cabinets and shelves. Which of the following
https://www.stuvia.com/en-us/user/techgrades
, statements about this is true ANS >>> the tenant can take these as they are trade
fixtures
4. A seller is attending the closing on his property. The title company has
discovered an unsatisfied M&M lien on the property. Which of the following is
the most likely reason for the lien? ANS >>> plumbing work that was completed
but never paid for
5. A listing agent went to inspect a seller's property hoping to list it for sale.
The seller told the listing agent that his neighbor's satellite dish trespasses
on his property. This is an example of... ANS >>> encroachment
6. A father gives his son a life estate on a property. The son leases the property.
The tenant dies. What happens to the property? ANS >>> it goes back to the son
until he dies
7. A man leaves his second wife a life estate in their home after which the
property goes to his children from his first marriage. The children... ANS >>>
are re- maindermen
8. Which of the following statements about an easement is true? ANS >>> an
easement is a benefit to the dominant property owner
9. P, Q and R are joint tenants. P wants to sell the property, but Q and R do not.
What can P do? ANS >>> file a suit for partition
https://www.stuvia.com/en-us/user/techgrades
, 10. A, B and C are joint tenants. C dies. B sells his share to D. What type of
ownership do A and D have? ANS >>> tenants in common
11. Under what right can the government change property use from commer-
cial to residential only? ANS >>> police power
12. Ownership of the common areas of condominiums is most likely to be AN
>>> ANS >>> -
tenancy in common
13. What should a buyer do to ensure that his is getting the best title to real
property? ANS >>> get a general warranty deed
14. Which covenant in a deed guarantees that the owners will not suffer or be
disturbed by any claims on the property? ANS >>> the covenant of quiet
enjoyment
15. Excess money at a foreclosure sale goes to... ANS >>> the borrower
16. After defaulting on a real estate loan, a borrower is able to pay off the loan
prior to the foreclosure sale. This is called ANS >>> ANS >>> right of redemption
https://www.stuvia.com/en-us/user/techgrades
, 17. The required distance between buildings and a federally protected endan-
gered species wetlands is an example of... ANS >>> a buffer zone
18. A couple purchased a condominium. The complex has an exercise room for
all residents. The couple does not use the exercise room and does not want
to pay the monthly fee for the use of the facility. What can they do to avoid
this fee? ANS >>> they must pay the fee as they have a tenancy in common
interest in all common areas
19. Which of the following is personal property? ANS >>> a lease
20. A landlord leased space in his new retail property to an inexperienced
business person. Based on location and the type of business, the landlord
believes it will be a great success. What type of lease can he enter into with
the tenant that will allow the landlord to benefit from the tenant's success?
ANS >>> a percentage lease
21. A buyer has purchased a property and after closing the seller will continue
to occupy the property. This is an example of... ANS >>> sale and leaseback
22. Your client will be able to qualify for a property they wish to purchase in
about 6 months, after they had an opportunity to reduce their consumer debt.
https://www.stuvia.com/en-us/user/techgrades
