LEASING AGENT LATEST 2026 EXAM QUESTIONS AND
SOLUTIONS GUARANTEE A+
✔✔one defining difference between real estate (real property) and personal property is
that real estate includes - ✔✔land and all things permanently attached, while personal
property includes property that is movable.
✔✔a bookstore owner rents space in a commercial building. the bookstore has large
tables fastened to the walls where customers are encouraged to sit and read. Shelves
create aisles from the front of the store to the back. The shelves are bolted to the both
the ceiling and the floor. Which of the best characterizes these tables and shelves? -
✔✔The shelves and the tables are trade fixtures and must be removed before the
bookstore's lease expires; the tenant is responsible to the landlord for any damage that
their removal causes to the premises.
✔✔which of these is considered the MOST important characteristic of land? -
✔✔location
✔✔another term for personal property is - ✔✔chattels
✔✔when an owner of real estate sells the property to someone else, which of the
"sticks" in the bundle of legal rights is she using? - ✔✔disposition
✔✔a man inherited a farm from his uncle. as a new owner, the first thing he did with the
vacant property was to remove all the topsoil, which he sold to a landscaping company.
He then removed a thick layer of limestone and sold it to a construction company.
Finally, he dug 40 feet into the bedrock and sol it for gravel. when the farm owner died,
he left the farm to his daughter. Which of these is true? - ✔✔The daughter inherits a
large hole in the ground, but it is still a farm, down to the center of the earth
✔✔the buyer and the seller of a home are debating whether a certain item is real or
personal property. the buyer says it is real property and should convey with the house;
the seller says it is personal property and would not convey without a separate bill of
sale. In determining whether an item is real or personal property, a court would NOT
consider - ✔✔the cost of the item when it was purchased
✔✔which of these BEST describes the economic characteristics of real estate -
✔✔scarcity, improvements, and location
✔✔an owner decides to sell her house and takes the antique front door with her when
she moves.in the absence of any provision in the contract, is the owner allowed to
remove the door? - ✔✔no, this act of serverance is not allowed at the time of selling
because the door is a fixture
, ✔✔when moving into a newly purchased home, the buyer discovered that the seller had
taken the electric lightning units that were installed over the vanity in the bathroom. the
seller had not indicated in the sales contract that these would be removed. which of
these is true? - ✔✔installed lighting units normally are considered real estate fixtures.
✔✔a homeowner is building a new enclosed front porch on his home. a truckload of
lumber has been left in his driveway for use in building the porch. at this point the
lumber is considered - ✔✔personal property
✔✔intent of the parties, method of attachment, adaption to real estate, and agreement
between the parties are the legal tests for determining whether an item is - ✔✔a fixture
or personal property
✔✔parking spaces in multiunit buildings, water rights, and other improvements are
classified as - ✔✔appurtenances
✔✔a person buys a parcel of natural forest. the person then immediately cuts down all
trees and constructs a large shed out of old sheets of rusted steel for storing turpentine,
varnish, and industrial waste products. Which of these statements is true about this
rusty shed? - ✔✔the owner's action constitutes improvement of the property
✔✔the phrase bundle of legal rights is properly included in - ✔✔the definition of real
property
✔✔which of these is an example of an appurtenance - ✔✔water rights
✔✔all of these rights are included in the right to control one's property EXCEPT -
✔✔exclude utility meter readers
✔✔according to law, a trade fixture is usually treated as - ✔✔personalty
✔✔a buyer is interested in a house that fits most of her needs, but it is located in a busy
area where she is not sure she wants to live. the real estate characteristic associated
with her concern is - ✔✔area preference
✔✔which of these is considered personal property - ✔✔patio furniture
✔✔contract - ✔✔voluntary agreement or promise between legally competent parties ,
supported by legal consideration
✔✔express contract - ✔✔parties state the terms and show their intentions in words
SOLUTIONS GUARANTEE A+
✔✔one defining difference between real estate (real property) and personal property is
that real estate includes - ✔✔land and all things permanently attached, while personal
property includes property that is movable.
✔✔a bookstore owner rents space in a commercial building. the bookstore has large
tables fastened to the walls where customers are encouraged to sit and read. Shelves
create aisles from the front of the store to the back. The shelves are bolted to the both
the ceiling and the floor. Which of the best characterizes these tables and shelves? -
✔✔The shelves and the tables are trade fixtures and must be removed before the
bookstore's lease expires; the tenant is responsible to the landlord for any damage that
their removal causes to the premises.
✔✔which of these is considered the MOST important characteristic of land? -
✔✔location
✔✔another term for personal property is - ✔✔chattels
✔✔when an owner of real estate sells the property to someone else, which of the
"sticks" in the bundle of legal rights is she using? - ✔✔disposition
✔✔a man inherited a farm from his uncle. as a new owner, the first thing he did with the
vacant property was to remove all the topsoil, which he sold to a landscaping company.
He then removed a thick layer of limestone and sold it to a construction company.
Finally, he dug 40 feet into the bedrock and sol it for gravel. when the farm owner died,
he left the farm to his daughter. Which of these is true? - ✔✔The daughter inherits a
large hole in the ground, but it is still a farm, down to the center of the earth
✔✔the buyer and the seller of a home are debating whether a certain item is real or
personal property. the buyer says it is real property and should convey with the house;
the seller says it is personal property and would not convey without a separate bill of
sale. In determining whether an item is real or personal property, a court would NOT
consider - ✔✔the cost of the item when it was purchased
✔✔which of these BEST describes the economic characteristics of real estate -
✔✔scarcity, improvements, and location
✔✔an owner decides to sell her house and takes the antique front door with her when
she moves.in the absence of any provision in the contract, is the owner allowed to
remove the door? - ✔✔no, this act of serverance is not allowed at the time of selling
because the door is a fixture
, ✔✔when moving into a newly purchased home, the buyer discovered that the seller had
taken the electric lightning units that were installed over the vanity in the bathroom. the
seller had not indicated in the sales contract that these would be removed. which of
these is true? - ✔✔installed lighting units normally are considered real estate fixtures.
✔✔a homeowner is building a new enclosed front porch on his home. a truckload of
lumber has been left in his driveway for use in building the porch. at this point the
lumber is considered - ✔✔personal property
✔✔intent of the parties, method of attachment, adaption to real estate, and agreement
between the parties are the legal tests for determining whether an item is - ✔✔a fixture
or personal property
✔✔parking spaces in multiunit buildings, water rights, and other improvements are
classified as - ✔✔appurtenances
✔✔a person buys a parcel of natural forest. the person then immediately cuts down all
trees and constructs a large shed out of old sheets of rusted steel for storing turpentine,
varnish, and industrial waste products. Which of these statements is true about this
rusty shed? - ✔✔the owner's action constitutes improvement of the property
✔✔the phrase bundle of legal rights is properly included in - ✔✔the definition of real
property
✔✔which of these is an example of an appurtenance - ✔✔water rights
✔✔all of these rights are included in the right to control one's property EXCEPT -
✔✔exclude utility meter readers
✔✔according to law, a trade fixture is usually treated as - ✔✔personalty
✔✔a buyer is interested in a house that fits most of her needs, but it is located in a busy
area where she is not sure she wants to live. the real estate characteristic associated
with her concern is - ✔✔area preference
✔✔which of these is considered personal property - ✔✔patio furniture
✔✔contract - ✔✔voluntary agreement or promise between legally competent parties ,
supported by legal consideration
✔✔express contract - ✔✔parties state the terms and show their intentions in words
