Real estate law quizzes 2024
When a law firm primarily represents clients with the purchase, sale, and leasing of properties,
and assists them with negotiating and drafting documents, it is practicing:
a) Real Estate Litigation Law
b) Real Estate Development Law
c) Criminal Real Estate Law
d) Transactional Real Estate Law - d
quiz 1
If there is a conflict between the National Association of Realtors (NAR) Code of Ethics and a
state's law, which takes precedence?
a) The Code of Ethics takes precedence since it establishes obligations higher than those
mandated by law.
b) The law always takes precedence in the event of a conflict between the two.
c) It depends on the situation and legal precedent involved.
d) None of the above. - b
quiz 1
The NAR Code of Ethics can be best summarized by which of the following?
a) "Eye for an eye."
b) US Code 48-292.
c) The Code of Hammurabi.
d) The Golden Rule. - d
quiz 1
If a home inspector accepts a Lowe's gift card from a real estate agent after inspecting a home
for that agent's client, the inspector has violated the Home Inspectors' Code of Ethics.
, True
False - true
quiz 1
The term "real estate" is universally understood to mean the same thing by all in the industry.
True
False - false
The real estate industry is highly localized.
True
False - true
quiz 1
A bank account is a good example of:
a) Intangible real property.
b) Tangible real property.
c) Intangible personal property.
d) Tangible personal property.
e) Both a & c are correct. - c
quiz 1
A 1-year old sapling in your front yard would be considered:
a) Intangible real property.
b) Tangible real property.
c) Intangible personal property.
d) Tangible personal property.
When a law firm primarily represents clients with the purchase, sale, and leasing of properties,
and assists them with negotiating and drafting documents, it is practicing:
a) Real Estate Litigation Law
b) Real Estate Development Law
c) Criminal Real Estate Law
d) Transactional Real Estate Law - d
quiz 1
If there is a conflict between the National Association of Realtors (NAR) Code of Ethics and a
state's law, which takes precedence?
a) The Code of Ethics takes precedence since it establishes obligations higher than those
mandated by law.
b) The law always takes precedence in the event of a conflict between the two.
c) It depends on the situation and legal precedent involved.
d) None of the above. - b
quiz 1
The NAR Code of Ethics can be best summarized by which of the following?
a) "Eye for an eye."
b) US Code 48-292.
c) The Code of Hammurabi.
d) The Golden Rule. - d
quiz 1
If a home inspector accepts a Lowe's gift card from a real estate agent after inspecting a home
for that agent's client, the inspector has violated the Home Inspectors' Code of Ethics.
, True
False - true
quiz 1
The term "real estate" is universally understood to mean the same thing by all in the industry.
True
False - false
The real estate industry is highly localized.
True
False - true
quiz 1
A bank account is a good example of:
a) Intangible real property.
b) Tangible real property.
c) Intangible personal property.
d) Tangible personal property.
e) Both a & c are correct. - c
quiz 1
A 1-year old sapling in your front yard would be considered:
a) Intangible real property.
b) Tangible real property.
c) Intangible personal property.
d) Tangible personal property.
