Real Estate Practice Exam 2 AceableAgent
Questions And Complete Answers
What is a lien that applies to a certain property only? Specific Lien
Cameron lives exactly 12 miles away from his friend Jeremy. How many feet does that equal?
$63,360
A 10-foot river runs along the border of Royce's property. What rights govern his use of this
water? Riparian Rights
All of the following are examples of material facts requiring disclosure in a real estate
transaction EXCEPT: Familial status of the previous occupants
What is panic peddling? The illegal practice of causing owners to sell their homes by
creating fear that members of a protected class are moving into the area.
College Town, USA has a uniform percentage of 50%. A property in College Town has a market
value of $150,000. What is the assessed value of the property? $75,000
, Real Estate Practice Exam 2 AceableAgent
Questions And Complete Answers
The interest in an estate wherein, upon the death of the life estate owner, full ownership reverts
back to the original owner (grantor) is known as: Revisionary interest
During the option period, Kat, the buyer, decides that she wants to change the closing date so
that the seller has enough time to make repairs. She should request: An amendment to the
contract
A listing agreement and buyer representation agreement are the best tools for creating:
Express agency
A certificate of occupancy is issued by a governmental authority to indicate that a building is:
Ready and fit for inhabitants
In Pennsylvania, who does a closing agent typically represent? The title company or an
attorney
The harsh winter months are coming up, so property manager Katie arranges for an inspection of
the pipes and the roof for potential leaks. This is an example of: Preventative Maintenance
Questions And Complete Answers
What is a lien that applies to a certain property only? Specific Lien
Cameron lives exactly 12 miles away from his friend Jeremy. How many feet does that equal?
$63,360
A 10-foot river runs along the border of Royce's property. What rights govern his use of this
water? Riparian Rights
All of the following are examples of material facts requiring disclosure in a real estate
transaction EXCEPT: Familial status of the previous occupants
What is panic peddling? The illegal practice of causing owners to sell their homes by
creating fear that members of a protected class are moving into the area.
College Town, USA has a uniform percentage of 50%. A property in College Town has a market
value of $150,000. What is the assessed value of the property? $75,000
, Real Estate Practice Exam 2 AceableAgent
Questions And Complete Answers
The interest in an estate wherein, upon the death of the life estate owner, full ownership reverts
back to the original owner (grantor) is known as: Revisionary interest
During the option period, Kat, the buyer, decides that she wants to change the closing date so
that the seller has enough time to make repairs. She should request: An amendment to the
contract
A listing agreement and buyer representation agreement are the best tools for creating:
Express agency
A certificate of occupancy is issued by a governmental authority to indicate that a building is:
Ready and fit for inhabitants
In Pennsylvania, who does a closing agent typically represent? The title company or an
attorney
The harsh winter months are coming up, so property manager Katie arranges for an inspection of
the pipes and the roof for potential leaks. This is an example of: Preventative Maintenance
