Ct Real Estate Practice exam general
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Two lots of the same size are sold on a street. The lot on the corner sells for $20,000 more than
the lot in the middle of the street. Which of the following characteristics MOST likely explains
the price difference? - CORRECT ANSWER - Situs
How does a creditor who has obtained a judgment get satisfaction against a debtor who will not
pay? - CORRECT ANSWER - Writ of execution
What type of map is MOST useful for describing the terrain of a very hilly lot? - CORRECT
ANSWER - Contour map
A tenant rented an apartment, signing a 15-month lease. After the lease expired, the tenant paid 1
month's rent and got a receipt. What kind of leasehold does the tenant have? - CORRECT
ANSWER - Tenancy at will
A major difference between freehold and nonfreehold estates is that all freehold estates -
CORRECT ANSWER - are of indeterminable duration
Real property can be converted to personal property by - CORRECT ANSWER -
Severance
A lawsuit for inverse condemnation may be brought by - CORRECT ANSWER -a
homeowner
A deed restriction is applicable to the activities of - CORRECT ANSWER - present and
future owners.
,If conditions for purchase are included in a deed and these conditions are violated, what is the
penalty? - CORRECT ANSWER - Return of the property to the original owner.
The terms "littoral," "riparian," and "appropriative" refer to - CORRECT ANSWER -
water rights.
Which of the following BEST illustrates the concept and intent of a buffer zone? - CORRECT
ANSWER - Garden apartments located between a single-family residential neighborhood
and a shopping center.
A property owner died, having willed his real property to his two daughters. There is still a
chance that they could lose the land for a variety of reasons, but it CANNOT be taken through -
CORRECT ANSWER - escheat
An environmental impact statement typically describes the effects of a proposed project on
factors such as - CORRECT ANSWER - public health and safety
All of the following are methods to calculate the reproduction or replacement cost of a building
EXCEPT the - CORRECT ANSWER - straight-line method
Which of the following approaches MOST reliably estimates the sales price of a single-family
residence? - CORRECT ANSWER - Market data
A formal appraisal will ALWAYS be REQUIRED when the - CORRECT ANSWER -
lender wants to sell the mortgage to the secondary market.
According to the principle of progression, a three-bedroom, one-story home is MOST likely to
bring the highest sales price if located in a neighborhood in which - CORRECT
ANSWER - most homes are larger than the sale home.
An appraiser MUST be licensed or certified to handle Federally related work on residential
property valued at more than - CORRECT ANSWER - $250,000
, A competitive market analysis is MOST often used for - CORRECT ANSWER - setting a
listing price
Which rule-of-thumb version is being offered to an investor who is told that a house renting for
$900 a month should sell for about $90,000? - CORRECT ANSWER - GRM
When a property owner uses his home as collateral for a loan and creates a lien in favor of the
lender, title is held by the - CORRECT ANSWER - mortgagor
When the sellers are lending part of the purchase price, they may secure the debt either with a
deed of trust or a mortgage. For the seller, one benefit of the deed of trust is that - CORRECT
ANSWER - foreclosure is usually simpler and faster
Regulation Z requires that the borrower be fully informed of all of the following EXCEPT -
CORRECT ANSWER - the total interest
The FHA functions MOST like - CORRECT ANSWER - an insurance company
The purpose of usury laws is to regulate - CORRECT ANSWER - interest rates charged by
lenders
Which of the following statements about discount points is FALSE? - CORRECT
ANSWER - They are computed as a percentage of the selling price
A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This
permits the lender to - CORRECT ANSWER - demand immediate payment of the entire
note
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Two lots of the same size are sold on a street. The lot on the corner sells for $20,000 more than
the lot in the middle of the street. Which of the following characteristics MOST likely explains
the price difference? - CORRECT ANSWER - Situs
How does a creditor who has obtained a judgment get satisfaction against a debtor who will not
pay? - CORRECT ANSWER - Writ of execution
What type of map is MOST useful for describing the terrain of a very hilly lot? - CORRECT
ANSWER - Contour map
A tenant rented an apartment, signing a 15-month lease. After the lease expired, the tenant paid 1
month's rent and got a receipt. What kind of leasehold does the tenant have? - CORRECT
ANSWER - Tenancy at will
A major difference between freehold and nonfreehold estates is that all freehold estates -
CORRECT ANSWER - are of indeterminable duration
Real property can be converted to personal property by - CORRECT ANSWER -
Severance
A lawsuit for inverse condemnation may be brought by - CORRECT ANSWER -a
homeowner
A deed restriction is applicable to the activities of - CORRECT ANSWER - present and
future owners.
,If conditions for purchase are included in a deed and these conditions are violated, what is the
penalty? - CORRECT ANSWER - Return of the property to the original owner.
The terms "littoral," "riparian," and "appropriative" refer to - CORRECT ANSWER -
water rights.
Which of the following BEST illustrates the concept and intent of a buffer zone? - CORRECT
ANSWER - Garden apartments located between a single-family residential neighborhood
and a shopping center.
A property owner died, having willed his real property to his two daughters. There is still a
chance that they could lose the land for a variety of reasons, but it CANNOT be taken through -
CORRECT ANSWER - escheat
An environmental impact statement typically describes the effects of a proposed project on
factors such as - CORRECT ANSWER - public health and safety
All of the following are methods to calculate the reproduction or replacement cost of a building
EXCEPT the - CORRECT ANSWER - straight-line method
Which of the following approaches MOST reliably estimates the sales price of a single-family
residence? - CORRECT ANSWER - Market data
A formal appraisal will ALWAYS be REQUIRED when the - CORRECT ANSWER -
lender wants to sell the mortgage to the secondary market.
According to the principle of progression, a three-bedroom, one-story home is MOST likely to
bring the highest sales price if located in a neighborhood in which - CORRECT
ANSWER - most homes are larger than the sale home.
An appraiser MUST be licensed or certified to handle Federally related work on residential
property valued at more than - CORRECT ANSWER - $250,000
, A competitive market analysis is MOST often used for - CORRECT ANSWER - setting a
listing price
Which rule-of-thumb version is being offered to an investor who is told that a house renting for
$900 a month should sell for about $90,000? - CORRECT ANSWER - GRM
When a property owner uses his home as collateral for a loan and creates a lien in favor of the
lender, title is held by the - CORRECT ANSWER - mortgagor
When the sellers are lending part of the purchase price, they may secure the debt either with a
deed of trust or a mortgage. For the seller, one benefit of the deed of trust is that - CORRECT
ANSWER - foreclosure is usually simpler and faster
Regulation Z requires that the borrower be fully informed of all of the following EXCEPT -
CORRECT ANSWER - the total interest
The FHA functions MOST like - CORRECT ANSWER - an insurance company
The purpose of usury laws is to regulate - CORRECT ANSWER - interest rates charged by
lenders
Which of the following statements about discount points is FALSE? - CORRECT
ANSWER - They are computed as a percentage of the selling price
A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This
permits the lender to - CORRECT ANSWER - demand immediate payment of the entire
note
