Comprehensive Study 1 Up to Date Content
National Real Estate Exam Practice
Latest Questions and Graded
Answers
A property owner has decided to do some landscaping work
on his yard. He has planted a tree surrounded by some
flowering shrubs. The tree and shrubs are an example of...
Ans: improvements
A property owner has a waterfront lot on a stream. He has
the right to use the water from the stream. What is this right
called?
Ans: riparian
A tenant is aware that his lease will expire at the end of the
month. He has begun to disassemble his display cabinets
and shelves. Which of the following statements about this is
true
Ans: the tenant can take these as they are trade
fixtures
A seller is attending the closing on his property. The title
company has discovered an unsatisfied M&M lien on the
property. Which of the following is the most likely reason for
the lien?
Ans: plumbing work that was completed but never
paid for
A listing agent went to inspect a seller's property hoping to
list it for sale. The seller told the listing agent that his
Up to Date Content
,Comprehensive Study 2 Up to Date Content
neighbor's satellite dish trespasses on his property. This is an
example of...
Ans: encroachment
A father gives his son a life estate on a property. The son
leases the property. The tenant dies. What happens to the
property?
Ans: it goes back to the son until he dies
A man leaves his second wife a life estate in their home after
which the property goes to his children from his first
marriage. The children...
Ans: are remaindermen
Which of the following statements about an easement is
true?
Ans: an easement is a benefit to the dominant
property owner
P, Q and R are joint tenants. P wants to sell the property, but
Q and R do not. What can P do?
Ans: file a suit for partition
A, B and C are joint tenants. C dies. B sells his share to D.
What type of ownership do A and D have?
Ans: tenants in common
Under what right can the government change property use
from commercial to residential only?
Up to Date Content
,Comprehensive Study 3 Up to Date Content
Ans: police power
Ownership of the common areas of condominiums is most
likely to be:
Ans: tenancy in common
What should a buyer do to ensure that his is getting the best
title to real property?
Ans: get a general warranty deed
Which covenant in a deed guarantees that the owners will
not suffer or be disturbed by any claims on the property?
Ans: the covenant of quiet enjoyment
Excess money at a foreclosure sale goes to...
Ans: the borrower
After defaulting on a real estate loan, a borrower is able to
pay off the loan prior to the foreclosure sale. This is called:
Ans: right of redemption
The required distance between buildings and a federally
protected endangered species wetlands is an example of...
Ans: a buffer zone
A couple purchased a condominium. The complex has an
exercise room for all residents. The couple does not use the
exercise room and does not want to pay the monthly fee for
the use of the facility. What can they do to avoid this fee?
Up to Date Content
, Comprehensive Study 4 Up to Date Content
Ans: they must pay the fee as they have a tenancy in
common interest in all common areas
Which of the following is personal property?
Ans: a lease
A landlord leased space in his new retail property to an
inexperienced business person. Based on location and the
type of business, the landlord believes it will be a great
success. What type of lease can he enter into with the tenant
that will allow the landlord to benefit from the tenant's
success?
Ans: a percentage lease
A buyer has purchased a property and after closing the
seller will continue to occupy the property. This is an
example of...
Ans: sale and leaseback
Your client will be able to qualify for a property they wish to
purchase in about 6 months, after they had an opportunity to
reduce their consumer debt. They have found a property that
they would like to purchase now. What type of agreement
can they enter into with a seller that will allow them to
occupy the property now and purchase it within the 6
months?
Ans: lease with an option to buy
Tenants have signed a 3 year lease on a property. In the
second year the owner dies and his heirs inherit the
Up to Date Content
National Real Estate Exam Practice
Latest Questions and Graded
Answers
A property owner has decided to do some landscaping work
on his yard. He has planted a tree surrounded by some
flowering shrubs. The tree and shrubs are an example of...
Ans: improvements
A property owner has a waterfront lot on a stream. He has
the right to use the water from the stream. What is this right
called?
Ans: riparian
A tenant is aware that his lease will expire at the end of the
month. He has begun to disassemble his display cabinets
and shelves. Which of the following statements about this is
true
Ans: the tenant can take these as they are trade
fixtures
A seller is attending the closing on his property. The title
company has discovered an unsatisfied M&M lien on the
property. Which of the following is the most likely reason for
the lien?
Ans: plumbing work that was completed but never
paid for
A listing agent went to inspect a seller's property hoping to
list it for sale. The seller told the listing agent that his
Up to Date Content
,Comprehensive Study 2 Up to Date Content
neighbor's satellite dish trespasses on his property. This is an
example of...
Ans: encroachment
A father gives his son a life estate on a property. The son
leases the property. The tenant dies. What happens to the
property?
Ans: it goes back to the son until he dies
A man leaves his second wife a life estate in their home after
which the property goes to his children from his first
marriage. The children...
Ans: are remaindermen
Which of the following statements about an easement is
true?
Ans: an easement is a benefit to the dominant
property owner
P, Q and R are joint tenants. P wants to sell the property, but
Q and R do not. What can P do?
Ans: file a suit for partition
A, B and C are joint tenants. C dies. B sells his share to D.
What type of ownership do A and D have?
Ans: tenants in common
Under what right can the government change property use
from commercial to residential only?
Up to Date Content
,Comprehensive Study 3 Up to Date Content
Ans: police power
Ownership of the common areas of condominiums is most
likely to be:
Ans: tenancy in common
What should a buyer do to ensure that his is getting the best
title to real property?
Ans: get a general warranty deed
Which covenant in a deed guarantees that the owners will
not suffer or be disturbed by any claims on the property?
Ans: the covenant of quiet enjoyment
Excess money at a foreclosure sale goes to...
Ans: the borrower
After defaulting on a real estate loan, a borrower is able to
pay off the loan prior to the foreclosure sale. This is called:
Ans: right of redemption
The required distance between buildings and a federally
protected endangered species wetlands is an example of...
Ans: a buffer zone
A couple purchased a condominium. The complex has an
exercise room for all residents. The couple does not use the
exercise room and does not want to pay the monthly fee for
the use of the facility. What can they do to avoid this fee?
Up to Date Content
, Comprehensive Study 4 Up to Date Content
Ans: they must pay the fee as they have a tenancy in
common interest in all common areas
Which of the following is personal property?
Ans: a lease
A landlord leased space in his new retail property to an
inexperienced business person. Based on location and the
type of business, the landlord believes it will be a great
success. What type of lease can he enter into with the tenant
that will allow the landlord to benefit from the tenant's
success?
Ans: a percentage lease
A buyer has purchased a property and after closing the
seller will continue to occupy the property. This is an
example of...
Ans: sale and leaseback
Your client will be able to qualify for a property they wish to
purchase in about 6 months, after they had an opportunity to
reduce their consumer debt. They have found a property that
they would like to purchase now. What type of agreement
can they enter into with a seller that will allow them to
occupy the property now and purchase it within the 6
months?
Ans: lease with an option to buy
Tenants have signed a 3 year lease on a property. In the
second year the owner dies and his heirs inherit the
Up to Date Content
