Real Estate Exam Questions with Verified Answers
Which of the following is true of "condominiums"?
A. It is an ownership where owners own their unit solely but share ownership with the
common areas, and buildings
B. It applies to ownership, not to construction or development
C. It is a type of ownership where all of the owners own each other's interior units
D. Both A and C - ANSWER -A. It is an ownership where owners own their unit solely
but share ownership with the common areas, and buildings
A homeowner's association does which the following?
A. It manages the common areas of a condominium project or planned unit development
B. It owns title to the common elements in a condominium development
C. It doesn't own title to the common elements in a planned unit development
D. All of the above - ANSWER -A. It manages the common areas of a condominium
project or planned unit development
Which of the following is true of "common areas"?
A. They include swimming pools, tennis courts, and other recreational facilities
B. They are portions of a building, land, and amenities owned or managed by a planned unit
development or condominium project's homeowners' association
C. They have shared expenses by the property owners for the operation and maintenance
D. All of the above - ANSWER -D. All of the above
A fund set aside for replacement of common property in a condominium, PUD, or
cooperative project, particularly that which has a short life expectancy, such as carpet or
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furniture is called: - ANSWER -Replacement reserve fund
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,A type of multiple ownership where the residents of a multi-unit housing complex own
shares in the cooperative corporation that owns the property and gives each resident the
right to occupy a specific apartment or unit is called: - ANSWER -Cooperative
You put in a new driveway to your property, but in the process, the paving goes across your
property line onto your neighbor's property a few inches. This is called an: -
ANSWER -Encroachment
If you convey an interest in real property to a relative, that person is known as the: -
ANSWER -Grantee
You and your sister are joint tenants in a home your mother left you. Your sister has three
children in her will and you have one. If she dies first, who does the property go to? -
ANSWER -It goes entirely to you
Which of the following falls under the term "personal property"?
A. Sofa
B. Garage attached to a house
C. The front porch of a home
D. The windows in a home - ANSWER -A. Sofa
Many states determine the order of water rights according to which users of the water hold
a recorded beneficial use permit. This allocation of water rights in Massachusetts is
determined by: - ANSWER -The doctrine of prior appropriation
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Evan lives in an apartment building. The land and structures are owned by a corporation,
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with one mortgage loan covering the entire property. Like the other residents, Evan owns
, stock in the corporation and has a lease on his apartment. This type of ownership is called
a(n): - ANSWER -Cooperative
If a commercial tenant has a lease. The lease will end soon and the tenant is moving to a
new location. During the tenancy the tenant installed bookcases. Can the tenant remove
the bookcases? - ANSWER -Yes, as long as the tenant pays for or repairs the damages
If a prospective buyer is purchasing a house, can a seller take the shrubs with him? -
ANSWER -No, the shrubs are permanently rooted
If a person wants to build a dock on a lake, what agency should they get permission? -
ANSWER -The Massachusetts Department of Environmental Protection Agency
When a company furnishes materials for the construction of a house and is subsequently
not paid, it may file a(n): - ANSWER -Labor Lien
A person with a life estate can: - ANSWER -Live on the property for their lifetime
Who would a resident appear before to complain about Snob zoning? - ANSWER -
Zoning Board
Which is NOT an involuntary transfer?
A. Dedication for public use
B. Escheat
C. Eminent domain
D. Foreclosure - ANSWER -A. Dedication for public use
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Which of the following is true of "condominiums"?
A. It is an ownership where owners own their unit solely but share ownership with the
common areas, and buildings
B. It applies to ownership, not to construction or development
C. It is a type of ownership where all of the owners own each other's interior units
D. Both A and C - ANSWER -A. It is an ownership where owners own their unit solely
but share ownership with the common areas, and buildings
A homeowner's association does which the following?
A. It manages the common areas of a condominium project or planned unit development
B. It owns title to the common elements in a condominium development
C. It doesn't own title to the common elements in a planned unit development
D. All of the above - ANSWER -A. It manages the common areas of a condominium
project or planned unit development
Which of the following is true of "common areas"?
A. They include swimming pools, tennis courts, and other recreational facilities
B. They are portions of a building, land, and amenities owned or managed by a planned unit
development or condominium project's homeowners' association
C. They have shared expenses by the property owners for the operation and maintenance
D. All of the above - ANSWER -D. All of the above
A fund set aside for replacement of common property in a condominium, PUD, or
cooperative project, particularly that which has a short life expectancy, such as carpet or
1
furniture is called: - ANSWER -Replacement reserve fund
Page
,A type of multiple ownership where the residents of a multi-unit housing complex own
shares in the cooperative corporation that owns the property and gives each resident the
right to occupy a specific apartment or unit is called: - ANSWER -Cooperative
You put in a new driveway to your property, but in the process, the paving goes across your
property line onto your neighbor's property a few inches. This is called an: -
ANSWER -Encroachment
If you convey an interest in real property to a relative, that person is known as the: -
ANSWER -Grantee
You and your sister are joint tenants in a home your mother left you. Your sister has three
children in her will and you have one. If she dies first, who does the property go to? -
ANSWER -It goes entirely to you
Which of the following falls under the term "personal property"?
A. Sofa
B. Garage attached to a house
C. The front porch of a home
D. The windows in a home - ANSWER -A. Sofa
Many states determine the order of water rights according to which users of the water hold
a recorded beneficial use permit. This allocation of water rights in Massachusetts is
determined by: - ANSWER -The doctrine of prior appropriation
2
Evan lives in an apartment building. The land and structures are owned by a corporation,
Page
with one mortgage loan covering the entire property. Like the other residents, Evan owns
, stock in the corporation and has a lease on his apartment. This type of ownership is called
a(n): - ANSWER -Cooperative
If a commercial tenant has a lease. The lease will end soon and the tenant is moving to a
new location. During the tenancy the tenant installed bookcases. Can the tenant remove
the bookcases? - ANSWER -Yes, as long as the tenant pays for or repairs the damages
If a prospective buyer is purchasing a house, can a seller take the shrubs with him? -
ANSWER -No, the shrubs are permanently rooted
If a person wants to build a dock on a lake, what agency should they get permission? -
ANSWER -The Massachusetts Department of Environmental Protection Agency
When a company furnishes materials for the construction of a house and is subsequently
not paid, it may file a(n): - ANSWER -Labor Lien
A person with a life estate can: - ANSWER -Live on the property for their lifetime
Who would a resident appear before to complain about Snob zoning? - ANSWER -
Zoning Board
Which is NOT an involuntary transfer?
A. Dedication for public use
B. Escheat
C. Eminent domain
D. Foreclosure - ANSWER -A. Dedication for public use
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