Principles of Real Estate Final Exam Review
Questions With Correct Answers
1. |The |listing |is |always |taken |in |the |name |of |the |_________ |and |becomes |the |property |of |the
___________.
A. |Broker—salesperson
B. |Salesperson—seller
C. |Broker—broker
D. |Broker—seller |- |CORRECT |ANSWER✔✔-C. |Broker- |broker
A |deed |is |used |to |transfer |ownership |of |real |estate. |A |bill |of |sale |would |be |used |to |transfer |
ownership
of:
A. |A |mortgage
B. |Personal |property
C. |A |deed |of |trust
D. |A |house |and |2 |acres |of |land |- |CORRECT |ANSWER✔✔-B. |Personal |property
The |life |tenant |in |a |life |estate |is |not |allowed |to:
A. |Pay |the |property |tax |on |the |property
B. |Commit |waste |by |destroying |or |harming |the |property
C. |Lease |the |property |and |keep |the |rent
D. |Improve |the |property |- |CORRECT |ANSWER✔✔-B. |Commit |waste |by |destroying |or |harming |
the |property
,The |Education |Standards |Advisory |Committee |is |made |up |of:
A. |12 |members
B. |13 |members
C. |9 |members
D. |14 |members |- |CORRECT |ANSWER✔✔-A. |12 |members
The |government |receives |the |authority |to |take |the |property |of |one |who |dies |without |a |will |
and |without
heirs |by |virtue |of:
A. |Laws |of |agency
B. |Eminent |domain
C. |Police |power
D. |Escheat |- |CORRECT |ANSWER✔✔-D. |Escheat
Which |of |the |following |land |description |methods |identifies |a |parcel |of |land |by |specifying |its |
shape |and
boundaries?
A. |Metes |and |bounds
B. |Government |survey
C. |Recorded |plat
D. |Assessor's |parcel |number |- |CORRECT |ANSWER✔✔-A. |Metes |and |bounds
When |someone |owns |property |to |the |exclusion |of |all |other |persons, |this |person |is |said |to |
hold |the
property |in:
A. |Personality
, B. |Severalty
C. |Common
D. |Secret |- |CORRECT |ANSWER✔✔-B. |Severalty
One |who |is |given |a |power-of-attorney |that |allows |them |to |sign |the |name |of |a |principal |to |a |
contract |of
sale |is |a(n):
A. |Attorney-in-fact
B. |Broker |with |a |listing
C. |Special |agent
D. |Attorney |at |law |- |CORRECT |ANSWER✔✔-A. |Attorney-in-fact
TRELA |does |not |apply |to:
A. |An |attorney |licensed |in |this |state
B. |An |on-site |manager |of |an |apartment |complex
C. |A |public |official |while |engaged |in |official |duties
D. |All |of |the |above |- |CORRECT |ANSWER✔✔-D. |All |of |the |above
The |most |widely |recognized |aspect |of |joint |tenancy |is |the:
A. |Right |of |equal |interest
B. |Right |of |equal |use
C. |Right |of |survivorship
D. |Simultaneous |creation |of |ownership |- |CORRECT |ANSWER✔✔-C. |Right |of |survivorship
An |applicant |who |fails |an |examination:
A. |May |apply |for |reexamination |but |must |wait |7 |days |before |retaking |the |national |portion |of |
the |test.
Questions With Correct Answers
1. |The |listing |is |always |taken |in |the |name |of |the |_________ |and |becomes |the |property |of |the
___________.
A. |Broker—salesperson
B. |Salesperson—seller
C. |Broker—broker
D. |Broker—seller |- |CORRECT |ANSWER✔✔-C. |Broker- |broker
A |deed |is |used |to |transfer |ownership |of |real |estate. |A |bill |of |sale |would |be |used |to |transfer |
ownership
of:
A. |A |mortgage
B. |Personal |property
C. |A |deed |of |trust
D. |A |house |and |2 |acres |of |land |- |CORRECT |ANSWER✔✔-B. |Personal |property
The |life |tenant |in |a |life |estate |is |not |allowed |to:
A. |Pay |the |property |tax |on |the |property
B. |Commit |waste |by |destroying |or |harming |the |property
C. |Lease |the |property |and |keep |the |rent
D. |Improve |the |property |- |CORRECT |ANSWER✔✔-B. |Commit |waste |by |destroying |or |harming |
the |property
,The |Education |Standards |Advisory |Committee |is |made |up |of:
A. |12 |members
B. |13 |members
C. |9 |members
D. |14 |members |- |CORRECT |ANSWER✔✔-A. |12 |members
The |government |receives |the |authority |to |take |the |property |of |one |who |dies |without |a |will |
and |without
heirs |by |virtue |of:
A. |Laws |of |agency
B. |Eminent |domain
C. |Police |power
D. |Escheat |- |CORRECT |ANSWER✔✔-D. |Escheat
Which |of |the |following |land |description |methods |identifies |a |parcel |of |land |by |specifying |its |
shape |and
boundaries?
A. |Metes |and |bounds
B. |Government |survey
C. |Recorded |plat
D. |Assessor's |parcel |number |- |CORRECT |ANSWER✔✔-A. |Metes |and |bounds
When |someone |owns |property |to |the |exclusion |of |all |other |persons, |this |person |is |said |to |
hold |the
property |in:
A. |Personality
, B. |Severalty
C. |Common
D. |Secret |- |CORRECT |ANSWER✔✔-B. |Severalty
One |who |is |given |a |power-of-attorney |that |allows |them |to |sign |the |name |of |a |principal |to |a |
contract |of
sale |is |a(n):
A. |Attorney-in-fact
B. |Broker |with |a |listing
C. |Special |agent
D. |Attorney |at |law |- |CORRECT |ANSWER✔✔-A. |Attorney-in-fact
TRELA |does |not |apply |to:
A. |An |attorney |licensed |in |this |state
B. |An |on-site |manager |of |an |apartment |complex
C. |A |public |official |while |engaged |in |official |duties
D. |All |of |the |above |- |CORRECT |ANSWER✔✔-D. |All |of |the |above
The |most |widely |recognized |aspect |of |joint |tenancy |is |the:
A. |Right |of |equal |interest
B. |Right |of |equal |use
C. |Right |of |survivorship
D. |Simultaneous |creation |of |ownership |- |CORRECT |ANSWER✔✔-C. |Right |of |survivorship
An |applicant |who |fails |an |examination:
A. |May |apply |for |reexamination |but |must |wait |7 |days |before |retaking |the |national |portion |of |
the |test.
