REE 3043 FSU EXAM 1 QUESTIONS AND ANSWERS
2026
A principal definition of real estate is as a bundle of rights to land and its permanent
structures. Which of the following is not a property right?
A.Privacy
B.Use
C.Possession
D.Disposition - Answers - A.Privacy
Interests in real property that include possession are referred to as:
A.Fixtures
B.Townships
C.Licenses
D.Estates - Answers - D.Estates
Which type of ownership estate is the most complete bundle of rights, and therefore
carries greatest value?
A.Fee simple absolute
B.Fee simple conditional
C.Ordinary life estate
D.Legal life estate - Answers - A.Fee simple absolute
Although leaseholds differ from freeholds in several ways, they are similar in others.
Which of the following is a way in which leaseholds are similar to freeholds:
A.Both are limited in time
B.Both have limited right of disposition
C.Both are untitled interests
D.Both are possessory interests - Answers - D.Both are possessory interests
Jill and Mary go in together to purchase 342 acres of land to use for hunting and family
vacations. Ten years later, Jill dies and her husband wants to sell her half of the land.
Mary informs him that, unfortunately, he has no claim to the land and that upon Jill's
death, her ownership interest transferred to Mary. What type of co-ownership did Jill
and Mary have?A.Tenancy in common
B.Tenancy by the entirety
C.Condominium
D.Joint tenancy - Answers - D.Joint tenancy
Jeff owns land between a highway and a public beach. The state would like to build a
road from the highway to the beach across a number of properties including Jeff's. The
space for this road would be considered a(n):
A. Implied easement
B. Easement in gross
, C. Negative easement appurtenant
D. Positive easement appurtenant - Answers - B. Easement in gross
Which of the following is not a form of property right?
A. Lien
B. Easement
C. Leasehold
D. License - Answers - D. License
While leasehold interests are considered estates, they differ from freehold estates in all
of the following respects except:
A. Leasehold estates are limited in time
B. The right of disposition is diminished with a leasehold estate
C. Leasehold estates are not titled interests
D. Leasehold estates are possessory interests - Answers - D. Leasehold estates are
possessory interests
Which of these liens has the highest priority?
A. First mortgage
B. Mechanics' lien
C. Unpaid property tax lien
D. Second mortgage - Answers - C. Unpaid property tax lien
An easement is the right to use land for a specific and limited purpose. Which of the
following easements involves a relationship between two parcels of land, is a
permanent feature of both parcels involved, and gives the dominant parcel some
intrusive use of the servient parcel?
A. Affirmative easement appurtenant
B. Negative easement appurtenant
C. Easement in gross
D. License - Answers - A. Affirmative easement appurtenant
Based on your understanding of the rules for determining when an object becomes a
fixture, which of the following items would most likely be considered a fixture at the time
of sale?
A. Custom (built-in) bookshelves
B. Refrigerator in a single-family residence
C. Display case bolted to floor by retail tenant
D. Curtains - Answers - A. Custom (built-in) bookshelves
List three components of property rights - Answers - Possession
Use
Disposition
Is a fixture real or personal property? - Answers - A fixture was formerly personal
property but is now real property
2026
A principal definition of real estate is as a bundle of rights to land and its permanent
structures. Which of the following is not a property right?
A.Privacy
B.Use
C.Possession
D.Disposition - Answers - A.Privacy
Interests in real property that include possession are referred to as:
A.Fixtures
B.Townships
C.Licenses
D.Estates - Answers - D.Estates
Which type of ownership estate is the most complete bundle of rights, and therefore
carries greatest value?
A.Fee simple absolute
B.Fee simple conditional
C.Ordinary life estate
D.Legal life estate - Answers - A.Fee simple absolute
Although leaseholds differ from freeholds in several ways, they are similar in others.
Which of the following is a way in which leaseholds are similar to freeholds:
A.Both are limited in time
B.Both have limited right of disposition
C.Both are untitled interests
D.Both are possessory interests - Answers - D.Both are possessory interests
Jill and Mary go in together to purchase 342 acres of land to use for hunting and family
vacations. Ten years later, Jill dies and her husband wants to sell her half of the land.
Mary informs him that, unfortunately, he has no claim to the land and that upon Jill's
death, her ownership interest transferred to Mary. What type of co-ownership did Jill
and Mary have?A.Tenancy in common
B.Tenancy by the entirety
C.Condominium
D.Joint tenancy - Answers - D.Joint tenancy
Jeff owns land between a highway and a public beach. The state would like to build a
road from the highway to the beach across a number of properties including Jeff's. The
space for this road would be considered a(n):
A. Implied easement
B. Easement in gross
, C. Negative easement appurtenant
D. Positive easement appurtenant - Answers - B. Easement in gross
Which of the following is not a form of property right?
A. Lien
B. Easement
C. Leasehold
D. License - Answers - D. License
While leasehold interests are considered estates, they differ from freehold estates in all
of the following respects except:
A. Leasehold estates are limited in time
B. The right of disposition is diminished with a leasehold estate
C. Leasehold estates are not titled interests
D. Leasehold estates are possessory interests - Answers - D. Leasehold estates are
possessory interests
Which of these liens has the highest priority?
A. First mortgage
B. Mechanics' lien
C. Unpaid property tax lien
D. Second mortgage - Answers - C. Unpaid property tax lien
An easement is the right to use land for a specific and limited purpose. Which of the
following easements involves a relationship between two parcels of land, is a
permanent feature of both parcels involved, and gives the dominant parcel some
intrusive use of the servient parcel?
A. Affirmative easement appurtenant
B. Negative easement appurtenant
C. Easement in gross
D. License - Answers - A. Affirmative easement appurtenant
Based on your understanding of the rules for determining when an object becomes a
fixture, which of the following items would most likely be considered a fixture at the time
of sale?
A. Custom (built-in) bookshelves
B. Refrigerator in a single-family residence
C. Display case bolted to floor by retail tenant
D. Curtains - Answers - A. Custom (built-in) bookshelves
List three components of property rights - Answers - Possession
Use
Disposition
Is a fixture real or personal property? - Answers - A fixture was formerly personal
property but is now real property
