Real Estate: Fundamentals prep Exam
Well Answered 2026 Updated.
1. John owns fee simple title to Unit 30 and 5 percent of the common elements. John owns a -
Answer condo
2. A lien that is filed for the sole purpose of preventing a transfer of property pending the
outcome of litigations is called a - Answer lis pendens
3. Which statement regarding condominium ownership is correct? - Answer a unit owner
may devise the property
4. A lease begins on September 13th and ends on December 31st of that same year. What type
of leasehold estate has been created? - Answer periodic tenancy
5. What type of estate would a tenant receive from a landlord? - Answer Lease hold estate
6. A tenants lease has expired. The tenant has neither vacated nor negotiated a renewal lease,
and the landlord has declared that he does not want the tenant to remain in the building. This
tenancy is called - Answer tenancy at sufferance
*7. A property owner paid $25 per square foot for a lot 600 x 1452 ft. How much did they pay
for the lot? - Answer 15,000
*8. A broker has 1.65 acres of land listed at .25$ per square foot. What is the total listing price? -
Answer 1.65 x 43560 = 14,734.17
9. Your bundle of rights does not include right of - Answer disposal or encroachment
10. Attaching a fixture to real property, therefore making it a part of real property, is known as -
Answer actual annexation
11. "Real Property" is best described as land and - Answer all that there is above or below the
surface, including all things permanently attached to it, and legal rights associated with it
12. The term appurtenance refers to - Answer rights that "run with the land"
13. Which is considered real property? - Answer light fixtures
, 14. What type of legal description would new a new residential sub-developer most likely use -
Answer lots and blocks
15. The definition of the term "real property" includes all of the following except - Answer
chattels
16. What best describes the servant tenement in an easement appurtenant - Answer
property burdened by an easement
17. What is not an encumbrance? - Answer license
18. Tom, Rick, and Harry own a house. When Rick dies, his heirs receive his one-third ownership
interest. What type of co-ownership did they have? - Answer tenancy in common
19. What is not considered when determining whether an item is a fixture or personal
property? - Answer the relationship of the parties
or
value of the annexed item
20. The Smiths purchase a cooperative on the Gold Coast. What will they receive at closing? -
Answer shares of stock and proprietary lease
21. The local utility company hold an easement to install power lines on a vacant lot. This is
what type of easement? - Answer easement by necessary
22. A wife and husband may not hold title to their home as - Answer tenancy at will
23. A husband and wife own an apartment building. The husband has a 3/4 interest in the
property whereby the wife owned a 1/4 interest. What type of tenancy exists? - Answer
tenancy in common
24. What term does the law use to describe a holder tenant? - Answer tenancy at sufferance
Well Answered 2026 Updated.
1. John owns fee simple title to Unit 30 and 5 percent of the common elements. John owns a -
Answer condo
2. A lien that is filed for the sole purpose of preventing a transfer of property pending the
outcome of litigations is called a - Answer lis pendens
3. Which statement regarding condominium ownership is correct? - Answer a unit owner
may devise the property
4. A lease begins on September 13th and ends on December 31st of that same year. What type
of leasehold estate has been created? - Answer periodic tenancy
5. What type of estate would a tenant receive from a landlord? - Answer Lease hold estate
6. A tenants lease has expired. The tenant has neither vacated nor negotiated a renewal lease,
and the landlord has declared that he does not want the tenant to remain in the building. This
tenancy is called - Answer tenancy at sufferance
*7. A property owner paid $25 per square foot for a lot 600 x 1452 ft. How much did they pay
for the lot? - Answer 15,000
*8. A broker has 1.65 acres of land listed at .25$ per square foot. What is the total listing price? -
Answer 1.65 x 43560 = 14,734.17
9. Your bundle of rights does not include right of - Answer disposal or encroachment
10. Attaching a fixture to real property, therefore making it a part of real property, is known as -
Answer actual annexation
11. "Real Property" is best described as land and - Answer all that there is above or below the
surface, including all things permanently attached to it, and legal rights associated with it
12. The term appurtenance refers to - Answer rights that "run with the land"
13. Which is considered real property? - Answer light fixtures
, 14. What type of legal description would new a new residential sub-developer most likely use -
Answer lots and blocks
15. The definition of the term "real property" includes all of the following except - Answer
chattels
16. What best describes the servant tenement in an easement appurtenant - Answer
property burdened by an easement
17. What is not an encumbrance? - Answer license
18. Tom, Rick, and Harry own a house. When Rick dies, his heirs receive his one-third ownership
interest. What type of co-ownership did they have? - Answer tenancy in common
19. What is not considered when determining whether an item is a fixture or personal
property? - Answer the relationship of the parties
or
value of the annexed item
20. The Smiths purchase a cooperative on the Gold Coast. What will they receive at closing? -
Answer shares of stock and proprietary lease
21. The local utility company hold an easement to install power lines on a vacant lot. This is
what type of easement? - Answer easement by necessary
22. A wife and husband may not hold title to their home as - Answer tenancy at will
23. A husband and wife own an apartment building. The husband has a 3/4 interest in the
property whereby the wife owned a 1/4 interest. What type of tenancy exists? - Answer
tenancy in common
24. What term does the law use to describe a holder tenant? - Answer tenancy at sufferance
