REE 3043 Exam 4- Woodyard FSU
Questions and All Correct Answers
2026 Updated.
List the four primary tests used to determine whether an item is a fixture: - Answer 1. the
intent test
2. the annexation test
3. the adaptation test
4. the relationship-of-the-parties test
The physical rights to real estate generally include all of the following, except:
A. air rights
B. mineral rights
C. surface rights
D. easement rights - Answer D. Easement rights; the rights associated with an easement are
legal rights, not physical rights.
States which follow the traditional ownership-in-place concept: - Answer Recognize the
ownership of oil and gas as part of land ownership.
Which of the following is NOT a test of the court used to resolving disputes about fixtures?
A. The Annexation Test
B. The Intent Test
C. The Test of Expectation
D. The Adaption Test - Answer C. The test of expectation
An owner's legal right to control entry to real property and to use the property as collateral for
loans is a part of an owner's right of: - Answer Exclusive possession
An estate having a duration set by private contract is known as a: - Answer Non-freehold
estate
The future interest in an ordinary life estate is called the: - Answer Remainder; a future
interest, called the remainder, vests in the grantor of the ordinary life estate
________________ exists when rights of possession transfer with oral instead of written
agreements. - Answer Tenancies at will
, A form of ownership of real estate with fee simple ownership of individual units, and ownership
as tenants in common areas is termed: - Answer A condominium
The right of government to enforce zoning and growth control measures come under the
government's authority known as: - Answer Police power
The rights of the utility company to use a particular part of an individual's property for the
installation of their utility lines is an example of an easement appurtenant. - Answer False;
this is an example of an easement in gross.
Riparian land describes land adjacent to non navigable bodies of water, and the landowners'
rights to use the water constitute their riparian rights. - Answer True
A party with a determinable fee estate receives, for example, through sale, gift, or will an
interest in real property that lasts for as long as some stipulation remains satisfied. - Answer
True
_______________ is the concept that refers to properties that have market vales and those
properties are assessed at the same percentage of their market value. - Answer Horizontal
equity
What is the tax rate for a community with a budget for the coming year of 560 million? Income
from non-property tax sources is expected to be 115 million and the net taxable base is 26
billion. - Answer The answer is 17 mills (560 million - 115 million) / 26 billion
______________ is the concept that refers to properties that have different market values and
those properties are assessed at the same percentage of their market value. - Answer Vertical
Equity
Which of the following jurisdictions typically levy real property taxes? - Answer Cities,
counties, school districts, and other special taxing jurisdictions, such as urban service districts
and water management districts, levy real property taxes.
All of the following were taxes in common use in the British colonies of North America, except:
A. the poll tax
B. the import tax
C. the property tax
D. the consumption tax - Answer The consumption tax
Questions and All Correct Answers
2026 Updated.
List the four primary tests used to determine whether an item is a fixture: - Answer 1. the
intent test
2. the annexation test
3. the adaptation test
4. the relationship-of-the-parties test
The physical rights to real estate generally include all of the following, except:
A. air rights
B. mineral rights
C. surface rights
D. easement rights - Answer D. Easement rights; the rights associated with an easement are
legal rights, not physical rights.
States which follow the traditional ownership-in-place concept: - Answer Recognize the
ownership of oil and gas as part of land ownership.
Which of the following is NOT a test of the court used to resolving disputes about fixtures?
A. The Annexation Test
B. The Intent Test
C. The Test of Expectation
D. The Adaption Test - Answer C. The test of expectation
An owner's legal right to control entry to real property and to use the property as collateral for
loans is a part of an owner's right of: - Answer Exclusive possession
An estate having a duration set by private contract is known as a: - Answer Non-freehold
estate
The future interest in an ordinary life estate is called the: - Answer Remainder; a future
interest, called the remainder, vests in the grantor of the ordinary life estate
________________ exists when rights of possession transfer with oral instead of written
agreements. - Answer Tenancies at will
, A form of ownership of real estate with fee simple ownership of individual units, and ownership
as tenants in common areas is termed: - Answer A condominium
The right of government to enforce zoning and growth control measures come under the
government's authority known as: - Answer Police power
The rights of the utility company to use a particular part of an individual's property for the
installation of their utility lines is an example of an easement appurtenant. - Answer False;
this is an example of an easement in gross.
Riparian land describes land adjacent to non navigable bodies of water, and the landowners'
rights to use the water constitute their riparian rights. - Answer True
A party with a determinable fee estate receives, for example, through sale, gift, or will an
interest in real property that lasts for as long as some stipulation remains satisfied. - Answer
True
_______________ is the concept that refers to properties that have market vales and those
properties are assessed at the same percentage of their market value. - Answer Horizontal
equity
What is the tax rate for a community with a budget for the coming year of 560 million? Income
from non-property tax sources is expected to be 115 million and the net taxable base is 26
billion. - Answer The answer is 17 mills (560 million - 115 million) / 26 billion
______________ is the concept that refers to properties that have different market values and
those properties are assessed at the same percentage of their market value. - Answer Vertical
Equity
Which of the following jurisdictions typically levy real property taxes? - Answer Cities,
counties, school districts, and other special taxing jurisdictions, such as urban service districts
and water management districts, levy real property taxes.
All of the following were taxes in common use in the British colonies of North America, except:
A. the poll tax
B. the import tax
C. the property tax
D. the consumption tax - Answer The consumption tax
