Alabama Real Estate Final Exam Study Guide - 60 Hour Course
Questions and Answers (Solved Papers)
Which of the following ways of specializing is common in the
real estate brokerage business?
A. By type of mortgage financing required
B. By years of experience in the business
C. By type of property
D. By background of client - Correct Answers ✅C. By type
of property
Which of the following is included in the legal concept of
land?
A. A corn crop
B. A lake
C. A felled tree
D. An abandoned vehicle - Correct Answers ✅B. A lake
A property abuts a non-navigable stream. What does the
property owner own?
A. Land to the low-water mark
B. Underlying land to the middle of the waterway
C. Land to the high water mark
D. All water to the middle of the waterway - Correct
Answers ✅B. Underlying land to the middle of the waterway
A retailer installs special display counters to exhibit her
products. At the end of the lease term, the retailer moves to
,Alabama Real Estate Final Exam Study Guide - 60 Hour Course
Questions and Answers (Solved Papers)
another state, leaving the counters in the store. At this point
the counters are considered which of the following?
A. Trade fixtures, and therefore real property
B. Trade fixtures and therefore personal property
C. Real property, since the trade fixtures were abandoned
D. Personal property that must be returned to the retailer -
Correct Answers ✅C. Real property, since the trade
fixtures were abandoned
How is a legal life estate created?
A. By an owner's voluntary grant
B. By operation of law
C. Through the four unities
D. Through a defeasible conveyance - Correct Answers ✅B.
By operation of law
Which of the following is true of a homestead?
A. A homestead interest can be conveyed by one spouse
B. A homestead interest cannot be exempt from creditors
C. A homestead interest is a form of legal life estate
D. A homestead is any privately owned single-family
residence - Correct Answers ✅C. A homestead interest is a
form of legal life estate
, Alabama Real Estate Final Exam Study Guide - 60 Hour Course
Questions and Answers (Solved Papers)
Three people have identical rights in a property, share an
indivisible interest, but may sell or transfer their interest
without consent of the others. This type of ownership is:
A. joint tenancy
B. tenancy by the entireties
C. estate in severalty
D. tenancy in common - Correct Answers ✅D. tenancy in
common
A condominium estate is distinguished by:
A. Ownership of a share in an association and a condominium
lease on the owned unit
B. Tenancy in common interest in airspace and common areas
of the property
C. Fee simple ownership of a unit and undivided share of the
common areas
D. Fee simple ownership of an equal share of the entire
property - Correct Answers ✅C. Fee simple ownership of a
unit and undivided share of the common areas
An easement by prescription requires that:
A. the use be continuous, known, and permitted by the owner
for a period of time
B. the use by continuous, open, and hostile for a required
period of time
C. the owner of an adjoining property be landlocked
Questions and Answers (Solved Papers)
Which of the following ways of specializing is common in the
real estate brokerage business?
A. By type of mortgage financing required
B. By years of experience in the business
C. By type of property
D. By background of client - Correct Answers ✅C. By type
of property
Which of the following is included in the legal concept of
land?
A. A corn crop
B. A lake
C. A felled tree
D. An abandoned vehicle - Correct Answers ✅B. A lake
A property abuts a non-navigable stream. What does the
property owner own?
A. Land to the low-water mark
B. Underlying land to the middle of the waterway
C. Land to the high water mark
D. All water to the middle of the waterway - Correct
Answers ✅B. Underlying land to the middle of the waterway
A retailer installs special display counters to exhibit her
products. At the end of the lease term, the retailer moves to
,Alabama Real Estate Final Exam Study Guide - 60 Hour Course
Questions and Answers (Solved Papers)
another state, leaving the counters in the store. At this point
the counters are considered which of the following?
A. Trade fixtures, and therefore real property
B. Trade fixtures and therefore personal property
C. Real property, since the trade fixtures were abandoned
D. Personal property that must be returned to the retailer -
Correct Answers ✅C. Real property, since the trade
fixtures were abandoned
How is a legal life estate created?
A. By an owner's voluntary grant
B. By operation of law
C. Through the four unities
D. Through a defeasible conveyance - Correct Answers ✅B.
By operation of law
Which of the following is true of a homestead?
A. A homestead interest can be conveyed by one spouse
B. A homestead interest cannot be exempt from creditors
C. A homestead interest is a form of legal life estate
D. A homestead is any privately owned single-family
residence - Correct Answers ✅C. A homestead interest is a
form of legal life estate
, Alabama Real Estate Final Exam Study Guide - 60 Hour Course
Questions and Answers (Solved Papers)
Three people have identical rights in a property, share an
indivisible interest, but may sell or transfer their interest
without consent of the others. This type of ownership is:
A. joint tenancy
B. tenancy by the entireties
C. estate in severalty
D. tenancy in common - Correct Answers ✅D. tenancy in
common
A condominium estate is distinguished by:
A. Ownership of a share in an association and a condominium
lease on the owned unit
B. Tenancy in common interest in airspace and common areas
of the property
C. Fee simple ownership of a unit and undivided share of the
common areas
D. Fee simple ownership of an equal share of the entire
property - Correct Answers ✅C. Fee simple ownership of a
unit and undivided share of the common areas
An easement by prescription requires that:
A. the use be continuous, known, and permitted by the owner
for a period of time
B. the use by continuous, open, and hostile for a required
period of time
C. the owner of an adjoining property be landlocked
