Mosley Proctored National Test (Practice)
Questions With Correct Answers
After a property sells, the buyer discovers that his neighbor's fence is 12
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inches over the property line. This is an example of:
| | | | | | | | |
- an easement
| |
- adverse possession
| |
- an encroachment
| |
zoning ordinance violation - CORRECT ANSWER✔✔-an encroachment
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Which of the following terms is not a category for real property use?
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- residential
|
- development
|
- special purpose
| |
- recreational - CORRECT ANSWER✔✔-recreational
| | | |
The primary purpose of RESPA is to:
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,- guarantee housing for all purchasers
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- limit the amount of all settlement costs
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- provide capital for secondary markets
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- disclose all settlement costs - CORRECT ANSWER✔✔-limit the amount
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of all settlement costs
| | |
Mary and John are co-owners of the property. Mary dies but left her
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legal interest in the property with Dick and Jane. What type of
| | | | | | | | | | | |
ownership did Mary and John have? | | | | |
- several ownership
| |
- joint tenancy
| |
- tenants-in-common
|
- either A or B - CORRECT ANSWER✔✔-tenants-in-common
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Which lien does not need to be recorded in order to preserve its
| | | | | | | | | | | | |
priority?
- a mortgage lien, because it is contractual
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- a real estate tax lien, because it is the law
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- a judgment lien, if it is judicial
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, - a mechanic's lien, because it is equitable - CORRECT ANSWER✔✔-a
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real estate tax lien, because it is the law
| | | | | | | |
What is NOT an exercise of the police power?
| | | | | | | |
- zoning ordinances
| |
- building codes
| |
- restrictive covenants
| |
- city planning - CORRECT ANSWER✔✔-city planning
| | | | | |
What type of listing agreement provides for payment of a commission
| | | | | | | | | | |
to the broker, even if the owner makes the sale without help from the
| | | | | | | | | | | | | |
broker?
- exclusive right-to-sell listing
| | |
- opening listing
| |
- exclusive agency listing
| | |
- option listing - CORRECT ANSWER✔✔-exclusive right-to-sell listing
| | | | | | |
The difference between fraud, misrepresentation, and puffing turns
| | | | | | | |
primarily on: |
Questions With Correct Answers
After a property sells, the buyer discovers that his neighbor's fence is 12
| | | | | | | | | | | | |
inches over the property line. This is an example of:
| | | | | | | | |
- an easement
| |
- adverse possession
| |
- an encroachment
| |
zoning ordinance violation - CORRECT ANSWER✔✔-an encroachment
| | | | | |
Which of the following terms is not a category for real property use?
| | | | | | | | | | | |
- residential
|
- development
|
- special purpose
| |
- recreational - CORRECT ANSWER✔✔-recreational
| | | |
The primary purpose of RESPA is to:
| | | | | | |
,- guarantee housing for all purchasers
| | | | |
- limit the amount of all settlement costs
| | | | | | |
- provide capital for secondary markets
| | | | |
- disclose all settlement costs - CORRECT ANSWER✔✔-limit the amount
| | | | | | | | | |
of all settlement costs
| | |
Mary and John are co-owners of the property. Mary dies but left her
| | | | | | | | | | | | |
legal interest in the property with Dick and Jane. What type of
| | | | | | | | | | | |
ownership did Mary and John have? | | | | |
- several ownership
| |
- joint tenancy
| |
- tenants-in-common
|
- either A or B - CORRECT ANSWER✔✔-tenants-in-common
| | | | | | |
Which lien does not need to be recorded in order to preserve its
| | | | | | | | | | | | |
priority?
- a mortgage lien, because it is contractual
| | | | | | |
- a real estate tax lien, because it is the law
| | | | | | | | | |
- a judgment lien, if it is judicial
| | | | | | |
, - a mechanic's lien, because it is equitable - CORRECT ANSWER✔✔-a
| | | | | | | | | | |
real estate tax lien, because it is the law
| | | | | | | |
What is NOT an exercise of the police power?
| | | | | | | |
- zoning ordinances
| |
- building codes
| |
- restrictive covenants
| |
- city planning - CORRECT ANSWER✔✔-city planning
| | | | | |
What type of listing agreement provides for payment of a commission
| | | | | | | | | | |
to the broker, even if the owner makes the sale without help from the
| | | | | | | | | | | | | |
broker?
- exclusive right-to-sell listing
| | |
- opening listing
| |
- exclusive agency listing
| | |
- option listing - CORRECT ANSWER✔✔-exclusive right-to-sell listing
| | | | | | |
The difference between fraud, misrepresentation, and puffing turns
| | | | | | | |
primarily on: |
