PERRY REAL ESTATE COLLEGE FINAL EXAM - COMPLETE
QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE
JUST RELEASED
Question 1: All of the following would acquire title to real property
EXCEPT
A. -the grantee
B. -the lessee
C. -the devisee
D. -the vendee
Answer:
The lessee
Question 2: All of the following are required for a deed to be valid
EXCEPT
A. -date
B. -name of the grantee
C. -legal description
D. -signature of the grantee
Answer:
signature of the grantee
Question 3: a lease that will terminate within one year of its
inception
A. -may be oral
, B. -must be in writing
C. -violates the provisions of the statue of frauds
D. -is invalid
Answer:
may be oral
Question 4: all of the following are true regarding public records
EXCEPT
A. -the provide constructive notice about interests in the property
B. -they give notice of encumbrances
C. -they guarantee marketable title
D. -they establish priority of liens
Answer:
they guarantee marketable title
Question 5: The Commission is charged with determining if a
license applicant meets all of the following criteria EXCEPT:
A. -trustworthy
B. -honest
C. -competent to protect the public
D. -never been adjudicated bankrupt
Answer:
never been adjudicated bankrupt
Question 6: The principal difference between an estate for years
and an estate from year to year is that
, A. -an estate from year to year has no expiration date
B. -an estate for years cannot be terminated
C. -an estate for years is a life estate
D. -an estate from year to year must be in writing
Answer:
an estate from year to year has no expiration date
Question 7: a tenant's lease has expired, but the tenant has not
vacated the premise or negotiated a renewal lease. The landlord
has declared that the tenant is not to remain in the building. This
situation is an example of
A. -an estate for years
B. -tenancy at will
C. -an estate from year to year
D. -tenancy at sufferance
Answer:
tenancy at suffereance
Question 8: The Governor appoints Commissioners
Answer:
from a list provided by the Kentucky Association of REALTORS
Question 9: A standard rectangular survey system section contains
A. -160 acres
B. -640 acres
C. -160 government lots
, D. -36 townships
Answer:
640 acres
Question 10: Which of the following is NOT required for the broker
to remove money from his or her escrow account?
A. -court order
B. -a mutual release
C. -performance on the contract
D. -signed affidavit
Answer:
signed affidavit
Question 11: all of the following are essential to the formation of a
contract EXCEPT
A. -performance
B. -consideration
C. -offer
D. -acceptance
Answer:
performance
Question 12: Broker Janna was accused of violating antitrust laws.
Of the following, she was MOST likely accused of
A. -not having an equal housing opportunity sign in her office window
QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE
JUST RELEASED
Question 1: All of the following would acquire title to real property
EXCEPT
A. -the grantee
B. -the lessee
C. -the devisee
D. -the vendee
Answer:
The lessee
Question 2: All of the following are required for a deed to be valid
EXCEPT
A. -date
B. -name of the grantee
C. -legal description
D. -signature of the grantee
Answer:
signature of the grantee
Question 3: a lease that will terminate within one year of its
inception
A. -may be oral
, B. -must be in writing
C. -violates the provisions of the statue of frauds
D. -is invalid
Answer:
may be oral
Question 4: all of the following are true regarding public records
EXCEPT
A. -the provide constructive notice about interests in the property
B. -they give notice of encumbrances
C. -they guarantee marketable title
D. -they establish priority of liens
Answer:
they guarantee marketable title
Question 5: The Commission is charged with determining if a
license applicant meets all of the following criteria EXCEPT:
A. -trustworthy
B. -honest
C. -competent to protect the public
D. -never been adjudicated bankrupt
Answer:
never been adjudicated bankrupt
Question 6: The principal difference between an estate for years
and an estate from year to year is that
, A. -an estate from year to year has no expiration date
B. -an estate for years cannot be terminated
C. -an estate for years is a life estate
D. -an estate from year to year must be in writing
Answer:
an estate from year to year has no expiration date
Question 7: a tenant's lease has expired, but the tenant has not
vacated the premise or negotiated a renewal lease. The landlord
has declared that the tenant is not to remain in the building. This
situation is an example of
A. -an estate for years
B. -tenancy at will
C. -an estate from year to year
D. -tenancy at sufferance
Answer:
tenancy at suffereance
Question 8: The Governor appoints Commissioners
Answer:
from a list provided by the Kentucky Association of REALTORS
Question 9: A standard rectangular survey system section contains
A. -160 acres
B. -640 acres
C. -160 government lots
, D. -36 townships
Answer:
640 acres
Question 10: Which of the following is NOT required for the broker
to remove money from his or her escrow account?
A. -court order
B. -a mutual release
C. -performance on the contract
D. -signed affidavit
Answer:
signed affidavit
Question 11: all of the following are essential to the formation of a
contract EXCEPT
A. -performance
B. -consideration
C. -offer
D. -acceptance
Answer:
performance
Question 12: Broker Janna was accused of violating antitrust laws.
Of the following, she was MOST likely accused of
A. -not having an equal housing opportunity sign in her office window
