Real Estate Salesperson License Exam
Questions with All Correct Explanations
The fact that an individual must go to the land describes what physical characteristics of land? - Answer
Immobility
John and Mary are co-owners of a property. John has a 60% interest in the property and Mary has 40%.
What type of freehold estate do they have? - Answer Tenancy in Common
A Property is surveyed to determine a legal description. The surveyor works from a point of beginning,
and measures terminal points and angles. What method of land description is he using? - Answer Metes
and Bounds
John leased space in a building and installed bookcases and ceiling fans in that space. His lease will end
soon. What will happen to the bookcases and fan? - Answer Because they have been installed, the
bookcases and fans are fixtures and have become part of the property. He must leave them behind.
What is an example of involuntary, statutory, specific lien? - Answer Ad Valorem Tax Lien
Buyer's agent has helped her buyers find a property. The sellers have installed a fountain in the
courtyard and the buyers have stressed tot heir agent that they want the fountain to be included in the
purchase. What should the buyers' agent do to ensure that her clients get the fountain? - Answer The
agent can include wording int he buyers' offer that indicates the fountain is included in the sale.
All of the following are fixtures except?:
1. Shrubs
2. Pool
3. Tree
4. Land - Answer Land
Mary and John are married with grown children. Both are intestate. If John dies and Mary becomes the
owner of the home, what type of ownership did they have? - Answer Tenancy by the Entirety
,A one-half acre parcel of land in Manhattan, NY is worth considerably more than a one-half acre parcel
in White Plains, NY. This is an example of: - Answer Scarcity
What is the difference between an easement and a lien? - Answer Easement is a right in land and a lien
is not
A seller shows his property with ceiling fans. After closing when the buyer enters the house the ceiling
fans have been removed and the wires are hanging down from the ceiling. What best describes this
situation? - Answer The seller cannot take the fans because they are fixtures.
A married couple purchases property and takes title as Tenants by the Entirety. What is not true about
this? - Answer When the spouse dies their share will pass to their heirs including but not limited to the
surviving spouse.
The local government needs your land to build a new high school. They have the right to take your land
for the public good. What is this called? - Answer Eminent Domain
You have recently purchased property in an area regulated by zoning. It has come to your attention that
you have zoning violation on the property. What should you do? - Answer Request a variance from the
zoning board
One of the property owners in a subdivision is violating the deed restrictions. What can the other
property owners do to get him to comply? - Answer Seek an injunction from the courts
Your property boarders a non-navigable waterway and you have riparian rights. You have built a 10-foot
pier at the waters edge. How do you measure your property? - Answer To the middle of the waterway
Mary, a single woman, ha snow children. She owns real property and dies intestate. What happens to
her real property? - Answer The court will appoint an administrator and it will be distributed to her heirs
by the Law of Descent.
What is the best example of a buffer zone? - Answer Garden apartments between single family homes
and retail shops.
, All of the following apply to water rights except? - Answer Prior appropriation
Main difference between Zoning and Master Planning? - Answer Zoning laws are implementation and
Master Planning is a process.
A property owner has a gas station on his land. The zoning committee changes the zoning to R-1. What
must a property owner do? - Answer Nothing. The property is automatically considered a con-
conforming use.
A property owner receives a notice that his land is an improvement district. What does this mean? -
Answer He wil l receive an additional tax bill.
A property owner has installed a chain link fence on his property. He has received an official notice
requiring the removal of this type of fence. This fence is most likely a violation of? - Answer Deed
Restrictions or Deed Covenants
A single property is regulated by building codes, zoning, and deed restrictions. The rules are in conflict
with one another. Which must the property owner obey? - Answer Whichever rules are the most strict
or limiting.
M.A.I. refers to what professional group? - Answer Real Estate Appraisers
A builder is using inferior siding and paint in an effort to construct affordable housing. This builder is an
example of? - Answer Functional Obsolescence
An appraiser has been asked to determine the market value of a home significantly older than all other
homes in the neighborhood. What approach should he use? - Answer Cost Approach using replacement
cost
A builder is very successful and active in a new subdivision. Homes in the subdivision are selling well,
and the builder is making a good profile on the sale. The new builders arrive and begin to sell in the
same subdivision. All experience a lower level of profit. Which principle of appraisal would this be? -
Answer Principle of Competition
Questions with All Correct Explanations
The fact that an individual must go to the land describes what physical characteristics of land? - Answer
Immobility
John and Mary are co-owners of a property. John has a 60% interest in the property and Mary has 40%.
What type of freehold estate do they have? - Answer Tenancy in Common
A Property is surveyed to determine a legal description. The surveyor works from a point of beginning,
and measures terminal points and angles. What method of land description is he using? - Answer Metes
and Bounds
John leased space in a building and installed bookcases and ceiling fans in that space. His lease will end
soon. What will happen to the bookcases and fan? - Answer Because they have been installed, the
bookcases and fans are fixtures and have become part of the property. He must leave them behind.
What is an example of involuntary, statutory, specific lien? - Answer Ad Valorem Tax Lien
Buyer's agent has helped her buyers find a property. The sellers have installed a fountain in the
courtyard and the buyers have stressed tot heir agent that they want the fountain to be included in the
purchase. What should the buyers' agent do to ensure that her clients get the fountain? - Answer The
agent can include wording int he buyers' offer that indicates the fountain is included in the sale.
All of the following are fixtures except?:
1. Shrubs
2. Pool
3. Tree
4. Land - Answer Land
Mary and John are married with grown children. Both are intestate. If John dies and Mary becomes the
owner of the home, what type of ownership did they have? - Answer Tenancy by the Entirety
,A one-half acre parcel of land in Manhattan, NY is worth considerably more than a one-half acre parcel
in White Plains, NY. This is an example of: - Answer Scarcity
What is the difference between an easement and a lien? - Answer Easement is a right in land and a lien
is not
A seller shows his property with ceiling fans. After closing when the buyer enters the house the ceiling
fans have been removed and the wires are hanging down from the ceiling. What best describes this
situation? - Answer The seller cannot take the fans because they are fixtures.
A married couple purchases property and takes title as Tenants by the Entirety. What is not true about
this? - Answer When the spouse dies their share will pass to their heirs including but not limited to the
surviving spouse.
The local government needs your land to build a new high school. They have the right to take your land
for the public good. What is this called? - Answer Eminent Domain
You have recently purchased property in an area regulated by zoning. It has come to your attention that
you have zoning violation on the property. What should you do? - Answer Request a variance from the
zoning board
One of the property owners in a subdivision is violating the deed restrictions. What can the other
property owners do to get him to comply? - Answer Seek an injunction from the courts
Your property boarders a non-navigable waterway and you have riparian rights. You have built a 10-foot
pier at the waters edge. How do you measure your property? - Answer To the middle of the waterway
Mary, a single woman, ha snow children. She owns real property and dies intestate. What happens to
her real property? - Answer The court will appoint an administrator and it will be distributed to her heirs
by the Law of Descent.
What is the best example of a buffer zone? - Answer Garden apartments between single family homes
and retail shops.
, All of the following apply to water rights except? - Answer Prior appropriation
Main difference between Zoning and Master Planning? - Answer Zoning laws are implementation and
Master Planning is a process.
A property owner has a gas station on his land. The zoning committee changes the zoning to R-1. What
must a property owner do? - Answer Nothing. The property is automatically considered a con-
conforming use.
A property owner receives a notice that his land is an improvement district. What does this mean? -
Answer He wil l receive an additional tax bill.
A property owner has installed a chain link fence on his property. He has received an official notice
requiring the removal of this type of fence. This fence is most likely a violation of? - Answer Deed
Restrictions or Deed Covenants
A single property is regulated by building codes, zoning, and deed restrictions. The rules are in conflict
with one another. Which must the property owner obey? - Answer Whichever rules are the most strict
or limiting.
M.A.I. refers to what professional group? - Answer Real Estate Appraisers
A builder is using inferior siding and paint in an effort to construct affordable housing. This builder is an
example of? - Answer Functional Obsolescence
An appraiser has been asked to determine the market value of a home significantly older than all other
homes in the neighborhood. What approach should he use? - Answer Cost Approach using replacement
cost
A builder is very successful and active in a new subdivision. Homes in the subdivision are selling well,
and the builder is making a good profile on the sale. The new builders arrive and begin to sell in the
same subdivision. All experience a lower level of profit. Which principle of appraisal would this be? -
Answer Principle of Competition
