TENNESSEE AFFILIATE BROKER LATEST 2026 EXAM
QUESTIONS AND ANSWERS GRADED A+
✔✔Annexation - ✔✔When personal property is attached to real property, making it a
fixture
✔✔Manufactured home - ✔✔A home built with transport in mind, with an attached
chassis, tongue, axles, and wheels (personal property, unless legally annexed to the
land)
✔✔Mobile Home - ✔✔Manufactured home built prior to 1976
✔✔What are the economic characteristics of land? - ✔✔Scarcity, improvements,
permanence of investment, and situs (location)
✔✔What are the physical characteristics of land? - ✔✔Immobility, indestructibility, and
uniqueness (non-homogeneity)
✔✔Name several "sticks" (rights) in the bundle of rights. - ✔✔Air, water, mineral, profit,
mortgage, fixtures, crops, possession and enjoyment, exclusion, and disposition
✔✔Per se violation - ✔✔one in which suit is established on face of circumstances no
evidence required and no justification allowed
✔✔What are the four antitrust violations common to real estate? - ✔✔price fixing,
market allocation, tie in arrangements, group boycotting
✔✔central elements of an anti-trust violation - ✔✔contract, combination, or conspiracy
between or among competitors to unreasonably restrain trade
✔✔Easement appurtenant - ✔✔A permanent right to use another's land for the benefit
of a neighboring parcel
✔✔Easement by necessity - ✔✔easement that is created when the owner of a
landlocked parcel has no access to a public right of way such as a street or highway.
✔✔Easement in gross - ✔✔This type of easement is the right to use the land of another
and does not involve any adjoining estate. Utility companies often make use of these
easements.
✔✔Easement by prescription - ✔✔A permanent right to use another's property because
you've been doing so for a statutory period of time
, ✔✔party wall - ✔✔Shared between two buildings and constructed on the boundary line
between two owner's lots
✔✔possessory - ✔✔rights to occupy the property
✔✔easements fall into what category? - ✔✔non-possessory
✔✔license - ✔✔Not classified as an encumbrance, this is a temporary right to enter the
land or use property belonging to another for a specific purpose.
✔✔deed restriction - ✔✔private provision in a deed controlling use of a property
✔✔lien - ✔✔legal claim on a property that includes the right to sell a property if not paid
off
✔✔metes and bounds - ✔✔a method of surveying property that includes point of
reference and directional indicators to identify and locate a property for legal purposes
✔✔Rectangular government survey system - ✔✔A survey system that describes land in
reference to principal meridians and baselines. The Fifth Principal Meridian serves as
the starting point in Missouri surveys
✔✔Plat map - ✔✔A map which shows the location of a piece of property in context to its
adjoining lots, roads and landmarks. It includes lot, street and block identifiers
✔✔lot and block - ✔✔A legal description that refers to lot and block number within a
subdivision as indicated on a recorded subdivision plat
✔✔section - ✔✔1 /36th of a township in a government survey system
✔✔Township - ✔✔A square that is six miles by six miles (36 square miles) and makes
up the principal unit of the rectangular government survey system
✔✔fee simple - ✔✔type of estate that is inheritable
✔✔fee absolute - ✔✔Provides the most complete form of ownership and bundle of
rights in real property
✔✔Qualified fee - ✔✔An inheritable freehold estate that is defeasible (the grantor can
terminate the title). For example, a parent could transfer property to a child as long as
the child remained unmarried
✔✔freehold estate - ✔✔Ownership for an undetermined length of time. An example is
home ownership, may be passed down to heirs
QUESTIONS AND ANSWERS GRADED A+
✔✔Annexation - ✔✔When personal property is attached to real property, making it a
fixture
✔✔Manufactured home - ✔✔A home built with transport in mind, with an attached
chassis, tongue, axles, and wheels (personal property, unless legally annexed to the
land)
✔✔Mobile Home - ✔✔Manufactured home built prior to 1976
✔✔What are the economic characteristics of land? - ✔✔Scarcity, improvements,
permanence of investment, and situs (location)
✔✔What are the physical characteristics of land? - ✔✔Immobility, indestructibility, and
uniqueness (non-homogeneity)
✔✔Name several "sticks" (rights) in the bundle of rights. - ✔✔Air, water, mineral, profit,
mortgage, fixtures, crops, possession and enjoyment, exclusion, and disposition
✔✔Per se violation - ✔✔one in which suit is established on face of circumstances no
evidence required and no justification allowed
✔✔What are the four antitrust violations common to real estate? - ✔✔price fixing,
market allocation, tie in arrangements, group boycotting
✔✔central elements of an anti-trust violation - ✔✔contract, combination, or conspiracy
between or among competitors to unreasonably restrain trade
✔✔Easement appurtenant - ✔✔A permanent right to use another's land for the benefit
of a neighboring parcel
✔✔Easement by necessity - ✔✔easement that is created when the owner of a
landlocked parcel has no access to a public right of way such as a street or highway.
✔✔Easement in gross - ✔✔This type of easement is the right to use the land of another
and does not involve any adjoining estate. Utility companies often make use of these
easements.
✔✔Easement by prescription - ✔✔A permanent right to use another's property because
you've been doing so for a statutory period of time
, ✔✔party wall - ✔✔Shared between two buildings and constructed on the boundary line
between two owner's lots
✔✔possessory - ✔✔rights to occupy the property
✔✔easements fall into what category? - ✔✔non-possessory
✔✔license - ✔✔Not classified as an encumbrance, this is a temporary right to enter the
land or use property belonging to another for a specific purpose.
✔✔deed restriction - ✔✔private provision in a deed controlling use of a property
✔✔lien - ✔✔legal claim on a property that includes the right to sell a property if not paid
off
✔✔metes and bounds - ✔✔a method of surveying property that includes point of
reference and directional indicators to identify and locate a property for legal purposes
✔✔Rectangular government survey system - ✔✔A survey system that describes land in
reference to principal meridians and baselines. The Fifth Principal Meridian serves as
the starting point in Missouri surveys
✔✔Plat map - ✔✔A map which shows the location of a piece of property in context to its
adjoining lots, roads and landmarks. It includes lot, street and block identifiers
✔✔lot and block - ✔✔A legal description that refers to lot and block number within a
subdivision as indicated on a recorded subdivision plat
✔✔section - ✔✔1 /36th of a township in a government survey system
✔✔Township - ✔✔A square that is six miles by six miles (36 square miles) and makes
up the principal unit of the rectangular government survey system
✔✔fee simple - ✔✔type of estate that is inheritable
✔✔fee absolute - ✔✔Provides the most complete form of ownership and bundle of
rights in real property
✔✔Qualified fee - ✔✔An inheritable freehold estate that is defeasible (the grantor can
terminate the title). For example, a parent could transfer property to a child as long as
the child remained unmarried
✔✔freehold estate - ✔✔Ownership for an undetermined length of time. An example is
home ownership, may be passed down to heirs
