PENNSYLVANIA REAL ESTATE FUNDAMENTALS FINAL EXAM A | COMPLETE
QUESTIONS & ANSWERS (100% VERIFIED SOLUTIONS) 2025/2026 UPDATE
1 . The clause in a trust deed or mortgage that permits the lender to declare the entire unpaid
balance immediately due and payable upon default is the - CORRECT ANSWER -acceleration
clause .
The phrase " bundle of legal rights " is properly included in - CORRECT ANSWER -the definition
of real property .
In Pennsylvania , mine subsidence refers to - CORRECT ANSWER -subsurface rights .
A subdivider divided the acreage in to lots and built the streets . As the development grows ,
the subdivider intends to give the streets to the local municipality . This is an example of -
CORRECT ANSWER -dedication
An owner leases store space to a tenant to operate a restaurant . The tenant has installed ovens
, booths , counters , and other equipment . When would these items become real property ? -
CORRECT ANSWER -The items do not become real property , and they remain the tenant's
personal property
tenant's personal property . What is the general real estate tax that generates the most revenue
? - CORRECT ANSWER -Ad valorem tax
In regulations regarding lead - based paint , the Department of Housing and Urban
Development ( HUD ) requires that - CORRECT ANSWER -known paint hazards must be disclosed
.
The purpose of the Recovery Fund is to enable - CORRECT ANSWER -people to receive payment
of uncollected judgments licensees .
, The Pennsylvania Seller Property Disclosure requires the disclosure of - CORRECT ANSWER -
source of drinking water
Which is the value used in calculating annual taxes ? - CORRECT ANSWER -Assessment
disclosure 10 . Under what environmental law are landowners held liable when a release of a
hazardous material occurs on their land ? - CORRECT ANSWER -CERCLA
What is TRUE about all unilateral contracts ? - CORRECT ANSWER -Only one party is obligated to
act .
What inspection is required for federally funded projects ? - CORRECT ANSWER -Environmental
impact statement
13 projects Which is characteristic of a metes - and - bounds legal description ? - CORRECT
ANSWER -Point of beginning
A father and son have decided to sell the family farm that they have co - owned for 35 years .
The deed that will be delivered at settlement of such a sale is a - CORRECT ANSWER -warranty
deed
The surveyor has been asked to identify the location , size , and shape of the buildings on the lot
. This is a - CORRECT ANSWER -spot survey
Which is acceptable evidence of marketable title ? - CORRECT ANSWER -Title insurance policy
What type of properties always include an elevation measurement ? - CORRECT ANSWER -
Condominiums
QUESTIONS & ANSWERS (100% VERIFIED SOLUTIONS) 2025/2026 UPDATE
1 . The clause in a trust deed or mortgage that permits the lender to declare the entire unpaid
balance immediately due and payable upon default is the - CORRECT ANSWER -acceleration
clause .
The phrase " bundle of legal rights " is properly included in - CORRECT ANSWER -the definition
of real property .
In Pennsylvania , mine subsidence refers to - CORRECT ANSWER -subsurface rights .
A subdivider divided the acreage in to lots and built the streets . As the development grows ,
the subdivider intends to give the streets to the local municipality . This is an example of -
CORRECT ANSWER -dedication
An owner leases store space to a tenant to operate a restaurant . The tenant has installed ovens
, booths , counters , and other equipment . When would these items become real property ? -
CORRECT ANSWER -The items do not become real property , and they remain the tenant's
personal property
tenant's personal property . What is the general real estate tax that generates the most revenue
? - CORRECT ANSWER -Ad valorem tax
In regulations regarding lead - based paint , the Department of Housing and Urban
Development ( HUD ) requires that - CORRECT ANSWER -known paint hazards must be disclosed
.
The purpose of the Recovery Fund is to enable - CORRECT ANSWER -people to receive payment
of uncollected judgments licensees .
, The Pennsylvania Seller Property Disclosure requires the disclosure of - CORRECT ANSWER -
source of drinking water
Which is the value used in calculating annual taxes ? - CORRECT ANSWER -Assessment
disclosure 10 . Under what environmental law are landowners held liable when a release of a
hazardous material occurs on their land ? - CORRECT ANSWER -CERCLA
What is TRUE about all unilateral contracts ? - CORRECT ANSWER -Only one party is obligated to
act .
What inspection is required for federally funded projects ? - CORRECT ANSWER -Environmental
impact statement
13 projects Which is characteristic of a metes - and - bounds legal description ? - CORRECT
ANSWER -Point of beginning
A father and son have decided to sell the family farm that they have co - owned for 35 years .
The deed that will be delivered at settlement of such a sale is a - CORRECT ANSWER -warranty
deed
The surveyor has been asked to identify the location , size , and shape of the buildings on the lot
. This is a - CORRECT ANSWER -spot survey
Which is acceptable evidence of marketable title ? - CORRECT ANSWER -Title insurance policy
What type of properties always include an elevation measurement ? - CORRECT ANSWER -
Condominiums
