PRINCIPLES OF REAL ESTATE STUDY GUIDE
ACTUAL REAL ESTATE QUESTIONS AND
DETAILED ANSWERS
◉Which of the following covenants in a deed promises that the property
is not burdened by liens, easements or other limitations, except as noted
in the deed?
A) Covenant of seizin
B) Covenant against encumbrances
C) Covenant of quiet enjoyment
D) Exceptions and reservation clause . Answer: Covenant against
encumbrances
◉The size of a single family residential lot is typically:
A) less than one acre
B) between one and two acres
C) between two and three acres
D) greater than three acres . Answer: Less than one acre
,◉Most communities contain a number of tax-exempt properties. All of
the following are typically included in the tax-exempt property
classification EXCEPT:
A) Places of worship
B) Universities
C) Government owned properties
D) Single-family homes . Answer: Single family home
◉The most flexible method of land description, capable of describing
even the most irregular of parcels, can be described as a very precise,
compass-directed walk around the boundary of a parcel. This method is
commonly referred to as:
A) metes and bounds
B) subdivision plat lot and block number
C) government rectangular survey
D) tax parcel number . Answer: Metes and Bounds
◉A principal definition of real estate is as a bundle of rights associated
with the possession, use, and disposition of property. Each of the
following is a fundamental characteristic of property rights EXCEPT:
A) They are enforceable by the government.
, B) They apply only to tangible assets.
C) They are nonrevocable.
D) They are enduring. . Answer: They apply only to tangible assets
◉One of the main criticisms of property taxes is that the property tax of
lower income households is higher than that of higher income
households, as a percentage of their respective incomes. In other words,
taxes are criticized for being:
A) Regressive
B) Comprehensive
C) Concurrent
D) Extraterritorial . Answer: Regressive
◉The description of land in a deed must be unambiguous. All of the
following would be considered acceptable legal descriptions of land
EXCEPT:
A) Street Address
B) Subdivision plat lot and block number
C) Government rectangular survey
D) Metes and bounds . Answer: Street address
ACTUAL REAL ESTATE QUESTIONS AND
DETAILED ANSWERS
◉Which of the following covenants in a deed promises that the property
is not burdened by liens, easements or other limitations, except as noted
in the deed?
A) Covenant of seizin
B) Covenant against encumbrances
C) Covenant of quiet enjoyment
D) Exceptions and reservation clause . Answer: Covenant against
encumbrances
◉The size of a single family residential lot is typically:
A) less than one acre
B) between one and two acres
C) between two and three acres
D) greater than three acres . Answer: Less than one acre
,◉Most communities contain a number of tax-exempt properties. All of
the following are typically included in the tax-exempt property
classification EXCEPT:
A) Places of worship
B) Universities
C) Government owned properties
D) Single-family homes . Answer: Single family home
◉The most flexible method of land description, capable of describing
even the most irregular of parcels, can be described as a very precise,
compass-directed walk around the boundary of a parcel. This method is
commonly referred to as:
A) metes and bounds
B) subdivision plat lot and block number
C) government rectangular survey
D) tax parcel number . Answer: Metes and Bounds
◉A principal definition of real estate is as a bundle of rights associated
with the possession, use, and disposition of property. Each of the
following is a fundamental characteristic of property rights EXCEPT:
A) They are enforceable by the government.
, B) They apply only to tangible assets.
C) They are nonrevocable.
D) They are enduring. . Answer: They apply only to tangible assets
◉One of the main criticisms of property taxes is that the property tax of
lower income households is higher than that of higher income
households, as a percentage of their respective incomes. In other words,
taxes are criticized for being:
A) Regressive
B) Comprehensive
C) Concurrent
D) Extraterritorial . Answer: Regressive
◉The description of land in a deed must be unambiguous. All of the
following would be considered acceptable legal descriptions of land
EXCEPT:
A) Street Address
B) Subdivision plat lot and block number
C) Government rectangular survey
D) Metes and bounds . Answer: Street address
