Page 1 of 117
IAAP WAS FINAL EXAM PREP 2025/2026 ACCURATE
QUESTIONS WITH CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS <NEWEST VERSION>
Which of the following is most likely to be considered a fixture?
A. Draperies
B. lamp
C. Plumbing
D. Washing Machine .......Answer.........C. Plumbing
A life estate will last until:
A. Economic conditions render it unfeasible
B. The death of the grantor
C. the death of the recipient
,Page 2 of 117
D. the recipient moves out .......Answer.........C. the death of the
recipient
The deed that states that there is
A. Grant Deed
B. Bargain and sale deed
C. Quitclaim deed
D. Special Warranty deed .......Answer.........C Quitclaim deed
A Judgement Lien:
A. Applies only to personal property
B. Applies only to real property
C. takes first lien position
D. When paid off, requires satisfaction of judgment to be
recorded to clear the record .......Answer.........D When paid off,
,Page 3 of 117
requires satisfaction of judgment to be recorded to clear the
record
The Police Powers of the government include:
A. Defeasance
B. Foreclosure
C. Lis Pendens
D. Building Codes and zoning regulations .......Answer.........D.
Building Codes and Zoning regulations
The Term "Meeting of the Minds" is associated with:
A. Full performance of a contract
B. Offer and acceptance
C. Execution
D tender of an offer .......Answer.........A. Full performance of a
contract
, Page 4 of 117
Exaggeration about a property's positive characteristics would
be considered:
A. Fraud
B. Misrepresentation
C. Overstating
D. Puffing .......Answer.........D Puffing
The seller listed the property for $95,000. Assuming that their
listing agreement is typical, the broker would NOT be entitled to
a commission if the seller:
A. Rejected a $90,000 offer from a financially qualified buyer
B. Accepted a $90,000 offer from a financially qualified buyer
C. Accepted a $95,000 offer, but his title turned out to be
unmarketable
IAAP WAS FINAL EXAM PREP 2025/2026 ACCURATE
QUESTIONS WITH CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS <NEWEST VERSION>
Which of the following is most likely to be considered a fixture?
A. Draperies
B. lamp
C. Plumbing
D. Washing Machine .......Answer.........C. Plumbing
A life estate will last until:
A. Economic conditions render it unfeasible
B. The death of the grantor
C. the death of the recipient
,Page 2 of 117
D. the recipient moves out .......Answer.........C. the death of the
recipient
The deed that states that there is
A. Grant Deed
B. Bargain and sale deed
C. Quitclaim deed
D. Special Warranty deed .......Answer.........C Quitclaim deed
A Judgement Lien:
A. Applies only to personal property
B. Applies only to real property
C. takes first lien position
D. When paid off, requires satisfaction of judgment to be
recorded to clear the record .......Answer.........D When paid off,
,Page 3 of 117
requires satisfaction of judgment to be recorded to clear the
record
The Police Powers of the government include:
A. Defeasance
B. Foreclosure
C. Lis Pendens
D. Building Codes and zoning regulations .......Answer.........D.
Building Codes and Zoning regulations
The Term "Meeting of the Minds" is associated with:
A. Full performance of a contract
B. Offer and acceptance
C. Execution
D tender of an offer .......Answer.........A. Full performance of a
contract
, Page 4 of 117
Exaggeration about a property's positive characteristics would
be considered:
A. Fraud
B. Misrepresentation
C. Overstating
D. Puffing .......Answer.........D Puffing
The seller listed the property for $95,000. Assuming that their
listing agreement is typical, the broker would NOT be entitled to
a commission if the seller:
A. Rejected a $90,000 offer from a financially qualified buyer
B. Accepted a $90,000 offer from a financially qualified buyer
C. Accepted a $95,000 offer, but his title turned out to be
unmarketable
