MO Final Exam Questions and Answers
(Top Grade Assured) 2026 Update
Which of the following ways of specializing is common in the
real estate brokerage business? - Correct Answers ✅By
type of property
Which of the following is included in the legal concept of
land? - Correct Answers ✅A lake
A property abuts a non-navigable stream. What does the
owner own? - Correct Answers ✅Underlying land to the
middle of the waterway.
A retailer installs special display counters to exhibit her
products. At the end of the lease term, the retailer moves to
another state, leaving the counters in the store. At this point
the counters are considered which of the following? - Correct
Answers ✅Real property, since the trade fixtures were
abandoned
How is a legal life estate created? - Correct Answers ✅By
operation of law
Which of the following is true of a homestead? - Correct
Answers ✅A homestead interest is a form of legal life estate
Three people have identical rights in a property, share an
indivisible interest, but may sell or transfer their interest
,MO Final Exam Questions and Answers
(Top Grade Assured) 2026 Update
without consent of the others. This type of ownership is -
Correct Answers ✅tenancy in common.
A condominium estate is distinguished by - Correct
Answers ✅fee simple ownership of a unit and an undivided
share of the common areas.
An easement by prescription requires that - Correct
Answers ✅the use be continuous, open, and hostile for a
required period of time.
In a lien-theory state - Correct Answers ✅the lender
records a lien while the borrower retains title to the
mortgaged property.
Five liens have been recorded against a certain house, in the
following order: first mortgage, mechanic's lien, second
mortgage, real estate tax lien, special assessment lien. Which
lien will be the last one to be paid from the proceeds of the
sale of the house? - Correct Answers ✅Second mortgage
lien
For a conveyance by deed between private parties to be
valid, the deed must be - Correct Answers ✅accepted by
the grantee.
, MO Final Exam Questions and Answers
(Top Grade Assured) 2026 Update
If a person dies with legal heirs and has left no valid will,
what happens to real property owned by that person? -
Correct Answers ✅It is probated and passes to the heirs by
laws of descent.
A miner openly lives and prospects on a 20,000-acre ranch.
After twenty years, the owner notices the miner and kicks
him off the property. The miner makes a claim of ownership
to the property. This claim will likely be - Correct Answers
✅upheld, because the possession was not concealed.
A tenant obtains a low rental rate for a building, but agrees to
pay all operating expenses. This is an example of a - Correct
Answers ✅net lease.
In accordance with the statute of frauds, - Correct Answers
✅a five-year lease must be in writing to be enforceable.
A property owner in a development is required to have a
shake roof. This requirement is most likely to come from -
Correct Answers ✅a deed restriction.
A master plan can be best described as - Correct Answers
✅a fusion of land use laws and local land use objectives and
strategies.
(Top Grade Assured) 2026 Update
Which of the following ways of specializing is common in the
real estate brokerage business? - Correct Answers ✅By
type of property
Which of the following is included in the legal concept of
land? - Correct Answers ✅A lake
A property abuts a non-navigable stream. What does the
owner own? - Correct Answers ✅Underlying land to the
middle of the waterway.
A retailer installs special display counters to exhibit her
products. At the end of the lease term, the retailer moves to
another state, leaving the counters in the store. At this point
the counters are considered which of the following? - Correct
Answers ✅Real property, since the trade fixtures were
abandoned
How is a legal life estate created? - Correct Answers ✅By
operation of law
Which of the following is true of a homestead? - Correct
Answers ✅A homestead interest is a form of legal life estate
Three people have identical rights in a property, share an
indivisible interest, but may sell or transfer their interest
,MO Final Exam Questions and Answers
(Top Grade Assured) 2026 Update
without consent of the others. This type of ownership is -
Correct Answers ✅tenancy in common.
A condominium estate is distinguished by - Correct
Answers ✅fee simple ownership of a unit and an undivided
share of the common areas.
An easement by prescription requires that - Correct
Answers ✅the use be continuous, open, and hostile for a
required period of time.
In a lien-theory state - Correct Answers ✅the lender
records a lien while the borrower retains title to the
mortgaged property.
Five liens have been recorded against a certain house, in the
following order: first mortgage, mechanic's lien, second
mortgage, real estate tax lien, special assessment lien. Which
lien will be the last one to be paid from the proceeds of the
sale of the house? - Correct Answers ✅Second mortgage
lien
For a conveyance by deed between private parties to be
valid, the deed must be - Correct Answers ✅accepted by
the grantee.
, MO Final Exam Questions and Answers
(Top Grade Assured) 2026 Update
If a person dies with legal heirs and has left no valid will,
what happens to real property owned by that person? -
Correct Answers ✅It is probated and passes to the heirs by
laws of descent.
A miner openly lives and prospects on a 20,000-acre ranch.
After twenty years, the owner notices the miner and kicks
him off the property. The miner makes a claim of ownership
to the property. This claim will likely be - Correct Answers
✅upheld, because the possession was not concealed.
A tenant obtains a low rental rate for a building, but agrees to
pay all operating expenses. This is an example of a - Correct
Answers ✅net lease.
In accordance with the statute of frauds, - Correct Answers
✅a five-year lease must be in writing to be enforceable.
A property owner in a development is required to have a
shake roof. This requirement is most likely to come from -
Correct Answers ✅a deed restriction.
A master plan can be best described as - Correct Answers
✅a fusion of land use laws and local land use objectives and
strategies.
