REAL PROPERTY AND THE LAW
EXAM GUIDE QUESTIONS AND
ANSWERS
A buyer purchased a parcel of land and immediately sold the mineral rights to an oil
company. The buyer gave up which of the following? - Answer-subsurface rights
Which of the following is a physical characteristic of land? - Answer-Indestructibility
The real estate professional should be familiar with the state real estate licensing law
and - Answer-Know brought about federal, state, and local laws relevant to real
estate practice to recommend that clients and customers seek help from an attorney
or other appropriate professional when necessary.
All of the following are economic characteristics of land EXCEPT - Answer-
uniqueness
Methods of annexation, adaptation, and agreement are the legal tests for
determining whether an item is - Answer-real property or personal property
Parking spaces in multi unit buildings, water rights, and similar thing sod value that
convey with property are classified as - Answer-Appurtenances
The Pawnee of a manufactured home has elected to have it classified as real
property. Which of the following would not support the home's classification as real
property? - Answer-The owner intends to love it every six months.
A rural landowner has posted of "No Trespassing" sign on his property. Which "stick"
in the bundle of rights gives the landowner this authority? - Answer-Exclusion
In determining whether an item is real or personal property, a court would NOT
consider which of the following? - Answer-The cost of the time when it was
purchased
The specific areas of law that are important to the real estate professional include
the law of contracts, the general property law, the law of agency, and specific -
Answer-State real estate license law
A resort purchases a large tract of scenic forest land and puts several prefabricated
steel buildings there to store landscaping equipment, fuel oil, and propane canisters.
Which statement is TRUE regarding this situation? - Answer-The resort's action
constitutes improvement of the property
A sales contract explicitly excludes some rose bushes from the sale. This provision
is necessary because the rose bushes are ordinarily considered to be - Answer-Real
estate
EXAM GUIDE QUESTIONS AND
ANSWERS
A buyer purchased a parcel of land and immediately sold the mineral rights to an oil
company. The buyer gave up which of the following? - Answer-subsurface rights
Which of the following is a physical characteristic of land? - Answer-Indestructibility
The real estate professional should be familiar with the state real estate licensing law
and - Answer-Know brought about federal, state, and local laws relevant to real
estate practice to recommend that clients and customers seek help from an attorney
or other appropriate professional when necessary.
All of the following are economic characteristics of land EXCEPT - Answer-
uniqueness
Methods of annexation, adaptation, and agreement are the legal tests for
determining whether an item is - Answer-real property or personal property
Parking spaces in multi unit buildings, water rights, and similar thing sod value that
convey with property are classified as - Answer-Appurtenances
The Pawnee of a manufactured home has elected to have it classified as real
property. Which of the following would not support the home's classification as real
property? - Answer-The owner intends to love it every six months.
A rural landowner has posted of "No Trespassing" sign on his property. Which "stick"
in the bundle of rights gives the landowner this authority? - Answer-Exclusion
In determining whether an item is real or personal property, a court would NOT
consider which of the following? - Answer-The cost of the time when it was
purchased
The specific areas of law that are important to the real estate professional include
the law of contracts, the general property law, the law of agency, and specific -
Answer-State real estate license law
A resort purchases a large tract of scenic forest land and puts several prefabricated
steel buildings there to store landscaping equipment, fuel oil, and propane canisters.
Which statement is TRUE regarding this situation? - Answer-The resort's action
constitutes improvement of the property
A sales contract explicitly excludes some rose bushes from the sale. This provision
is necessary because the rose bushes are ordinarily considered to be - Answer-Real
estate
