CE SHOP PA REAL ESTATE UNIT1 EXAM
QUESTIONS AND ANSWERS
What is the best way for a seller and buyer to demonstrate their agreement of
appliances being included in the sale? - Answer-Including a bill of sale in the purchase
contract
Land characteristics - Answer-Immobility, Non-homogeneity, Indestructibility, Situs,
Improvements, Fixed Investment, Scarcity
Legal descriptions - Answer-A description of a specific parcel of real estate complete
enough for an independent surveyor to locate and identify it.
Used in most agency Agreements, All Deeds, and All Real Estate Sales Contracts
Economic value impacts - Answer-A characteristic of real estate. improvements
permanence of investment scarcity and location
(Explosive population growth equals increase in property value)
Physical value impacts - Answer-Immobility, indestructibility, uniqueness/non-
homogeneity
(geographical location, land not improvements, one parcel or piece of land is not exactly
like the other)
Land survey - Answer-Reveals potential concerns about property boundaries and
clearly defines the property
Survey - Answer-Required to verify, clarify, correct, or create a legal description;
professional on-site measurement of the lot lines and dimensions of property including
location of improvements, any encroachments, and any easements of public record
Easement - Answer-A right to cross/use another's land for a specific reason
Metes and bounds system - Answer-Monuments, compass headings, and directions
(used to mark a point of beginning for the description, a physical man-made or natural
feature otherwise permanent)
Metes - Answer-Direction and distance of a property for me the boundary of the
property
Bounds - Answer-Physical features that define the boundaries of the property
, Plat or lot and block system - Answer-Mainly used in urban and suburban areas for
subdivided land, later becomes part of legal description
larger parcel of land surveyed, then divided into smaller parcels, then identified with the
letter or number
Rectangular government survey system or public land survey system - Answer-
Surveyed land is divided into sections in fractions of sections, six mile square townships
then land can be further divided
original use was to serve a federally owned blocks of land,
regulated by the Bureau of land management under the US Department of the interior,
used in 30 western and southern states not Texas or East Coast (except Florida)
Blocks - Answer-Groups of continuous parcels boarded by streets in are numbered
Point of beginning - Answer-Used to base a legal/physical description
One square mile equals - Answer-640 acres
Principal meridian lines - Answer-Divide the country, run north to south, south = +1
Baselines - Answer-Divide the country, run west to east
Range lines - Answer-Run north to south
Township lines - Answer-Run east to west, West = +1
NE 1/4 of the SW 1/4 of section 14, T2S 03W, sixth principal meridian Nebraska -
Answer-Division within township lines
Nebraska, sixth principal meridian, Township T2S R3W - Answer-Division within states,
creates townships
Formula to find the size of a land plot - Answer-Total Acreage x Fraction x Fraction =
total acreage of that land plot
Townships - Answer-Subdivided into 36 One Mile Square sections, 640 acres
Sections - Answer-640 acres,
one square miles,
quarter sections,
quarter-quarter sections or irregular government lots
QUESTIONS AND ANSWERS
What is the best way for a seller and buyer to demonstrate their agreement of
appliances being included in the sale? - Answer-Including a bill of sale in the purchase
contract
Land characteristics - Answer-Immobility, Non-homogeneity, Indestructibility, Situs,
Improvements, Fixed Investment, Scarcity
Legal descriptions - Answer-A description of a specific parcel of real estate complete
enough for an independent surveyor to locate and identify it.
Used in most agency Agreements, All Deeds, and All Real Estate Sales Contracts
Economic value impacts - Answer-A characteristic of real estate. improvements
permanence of investment scarcity and location
(Explosive population growth equals increase in property value)
Physical value impacts - Answer-Immobility, indestructibility, uniqueness/non-
homogeneity
(geographical location, land not improvements, one parcel or piece of land is not exactly
like the other)
Land survey - Answer-Reveals potential concerns about property boundaries and
clearly defines the property
Survey - Answer-Required to verify, clarify, correct, or create a legal description;
professional on-site measurement of the lot lines and dimensions of property including
location of improvements, any encroachments, and any easements of public record
Easement - Answer-A right to cross/use another's land for a specific reason
Metes and bounds system - Answer-Monuments, compass headings, and directions
(used to mark a point of beginning for the description, a physical man-made or natural
feature otherwise permanent)
Metes - Answer-Direction and distance of a property for me the boundary of the
property
Bounds - Answer-Physical features that define the boundaries of the property
, Plat or lot and block system - Answer-Mainly used in urban and suburban areas for
subdivided land, later becomes part of legal description
larger parcel of land surveyed, then divided into smaller parcels, then identified with the
letter or number
Rectangular government survey system or public land survey system - Answer-
Surveyed land is divided into sections in fractions of sections, six mile square townships
then land can be further divided
original use was to serve a federally owned blocks of land,
regulated by the Bureau of land management under the US Department of the interior,
used in 30 western and southern states not Texas or East Coast (except Florida)
Blocks - Answer-Groups of continuous parcels boarded by streets in are numbered
Point of beginning - Answer-Used to base a legal/physical description
One square mile equals - Answer-640 acres
Principal meridian lines - Answer-Divide the country, run north to south, south = +1
Baselines - Answer-Divide the country, run west to east
Range lines - Answer-Run north to south
Township lines - Answer-Run east to west, West = +1
NE 1/4 of the SW 1/4 of section 14, T2S 03W, sixth principal meridian Nebraska -
Answer-Division within township lines
Nebraska, sixth principal meridian, Township T2S R3W - Answer-Division within states,
creates townships
Formula to find the size of a land plot - Answer-Total Acreage x Fraction x Fraction =
total acreage of that land plot
Townships - Answer-Subdivided into 36 One Mile Square sections, 640 acres
Sections - Answer-640 acres,
one square miles,
quarter sections,
quarter-quarter sections or irregular government lots
