REAL ESTATE EXAM 1 (LAW AND
PRACTICE) QUESTIONS WITH
COMPLETE SOLUTIONS
Three of the four economic characteristics of real property are
A. scarcity
B. Permanence of investment
C. improvements
D. all of the above - Answer-D - Scarcity (supply), permanence of investment,
improvements, and area preference are all economic characteristics of real property.
Movable objects, which are not considered real estate, are known as:
A. Real Property
B. Personal Property
C. Fixtures
D. Emblements - Answer-B - Personal property or chattels is something that belongs
to a PERSON, and that PERSON could take them when moving
The rights of a landowner to use waters of an adjacent stream or river are known as:
A. Riparian rights
B. Zoning rights
C. Littoral rights
D. livery of seisin - Answer-A - While both riparian and littoral rights have to do with
water, remember that riparian rights have to do with FLOWING bodies of water, such
as rivers, streams or creeks.
Certain items on the premise that are installed by the tenant and are related to the
tenant's business are called:
A. Fixtures
B. Emblements
C. Trade fixtures
D. Easements - Answer-C - The tenant owns trade fixtures. They must be removed
before midnight of the last day of the lease or they may become the property of the
lessor.
The word improvement refers to
A. streets
B. sewage and the drainage systems
C. sidewalks
D. all of the above - Answer-D - Streets, sidewalks, sewers, and drainage systems
all are improvements to the land and increase its value.
, Real property may become personal property by:
A. severance
B. purchase
C. severance and purchase
D. annexation - Answer-A - Severing property from the real estate, for example
extracting minerals from the earth creates personalty or personal property. Another
example would be cutting down a tree and turning it into firewood. As a tree it was
real property but as firewood it would be personal property.
Any right that goes with the land and cannot be separated from it is classified as
A. An appurtenance
B. a leasehold estate
C. an estate for years
D. a life estate - Answer-A - An appurtenance is defined as something that goes with
or pertains to the land. An appurtenances is a term for what belongs to and goes
with something else, with the appurtenance being less significant than what it
belongs to.
The phrase "bundle of legal rights" is properly included in
A. the definition of real property
B. a legal description
C. real estate transactions
D. all of the above - Answer-A - Bundle of legal rights is part of the definition of real
property. These rights are, the right to control, use, possess, enjoy and dispose. A
legal description is the description assigned by the county where the property is
located and may include governmental easements. Real estate transactions do not
state the bundle of legal rights, but they are assumed to transfer with the property.
Addition to the land through natural causes, usually by a change in water flow
A. accession
B acquisition
C. accretion
D. annexation - Answer-C - Remember, accretion always has to do with natural
causes, like a river or creek, while accession is the acquisition of title as a result of
annexation of fixtures or annexation.
The right to control one's property includes all of the following except:
A. the right to invite people on the property for a political fund raiser
B. the right to exclude the utilities meter reader
C. the right to erect No Trespassing signs
D. the right to enjoy pride of ownership - Answer-B - An easement in gross (i.e. utility
easement) cannot be revoked. The rights that are inherent to property are the right to
own, the right of quiet enjoyment, the right of exclusion, the right of control, and the
right of disposition.
PRACTICE) QUESTIONS WITH
COMPLETE SOLUTIONS
Three of the four economic characteristics of real property are
A. scarcity
B. Permanence of investment
C. improvements
D. all of the above - Answer-D - Scarcity (supply), permanence of investment,
improvements, and area preference are all economic characteristics of real property.
Movable objects, which are not considered real estate, are known as:
A. Real Property
B. Personal Property
C. Fixtures
D. Emblements - Answer-B - Personal property or chattels is something that belongs
to a PERSON, and that PERSON could take them when moving
The rights of a landowner to use waters of an adjacent stream or river are known as:
A. Riparian rights
B. Zoning rights
C. Littoral rights
D. livery of seisin - Answer-A - While both riparian and littoral rights have to do with
water, remember that riparian rights have to do with FLOWING bodies of water, such
as rivers, streams or creeks.
Certain items on the premise that are installed by the tenant and are related to the
tenant's business are called:
A. Fixtures
B. Emblements
C. Trade fixtures
D. Easements - Answer-C - The tenant owns trade fixtures. They must be removed
before midnight of the last day of the lease or they may become the property of the
lessor.
The word improvement refers to
A. streets
B. sewage and the drainage systems
C. sidewalks
D. all of the above - Answer-D - Streets, sidewalks, sewers, and drainage systems
all are improvements to the land and increase its value.
, Real property may become personal property by:
A. severance
B. purchase
C. severance and purchase
D. annexation - Answer-A - Severing property from the real estate, for example
extracting minerals from the earth creates personalty or personal property. Another
example would be cutting down a tree and turning it into firewood. As a tree it was
real property but as firewood it would be personal property.
Any right that goes with the land and cannot be separated from it is classified as
A. An appurtenance
B. a leasehold estate
C. an estate for years
D. a life estate - Answer-A - An appurtenance is defined as something that goes with
or pertains to the land. An appurtenances is a term for what belongs to and goes
with something else, with the appurtenance being less significant than what it
belongs to.
The phrase "bundle of legal rights" is properly included in
A. the definition of real property
B. a legal description
C. real estate transactions
D. all of the above - Answer-A - Bundle of legal rights is part of the definition of real
property. These rights are, the right to control, use, possess, enjoy and dispose. A
legal description is the description assigned by the county where the property is
located and may include governmental easements. Real estate transactions do not
state the bundle of legal rights, but they are assumed to transfer with the property.
Addition to the land through natural causes, usually by a change in water flow
A. accession
B acquisition
C. accretion
D. annexation - Answer-C - Remember, accretion always has to do with natural
causes, like a river or creek, while accession is the acquisition of title as a result of
annexation of fixtures or annexation.
The right to control one's property includes all of the following except:
A. the right to invite people on the property for a political fund raiser
B. the right to exclude the utilities meter reader
C. the right to erect No Trespassing signs
D. the right to enjoy pride of ownership - Answer-B - An easement in gross (i.e. utility
easement) cannot be revoked. The rights that are inherent to property are the right to
own, the right of quiet enjoyment, the right of exclusion, the right of control, and the
right of disposition.
