REAL ESTATE EXPRESS FINAL EXAM
Actual Questions and Answers
Expert-Verified Explanation
This Exam contains:
✪ 40 Questions and Answers
✪ Multiple-choice and True/False Format
✪ Expert-Verified Explanations
✪ Verified with Trusted Textbooks
1. A lease that goes month to month is known as:
A. Tenancy in common
B. Estate for years
C. Estate from period to period
D. Estate at sufferance
Answer: C
EXPLANATION: An estate from period to period (also called periodic tenancy) continues
automatically from one period to the next (month-to-month) unless terminated.
2. Madison negotiates a $30,000 loan with $200 monthly payments and 9% interest. What
is the interest for the first month?
A. $270
B. $225
C. $200
D. $180
Answer: B
EXPLANATION: Annual interest = $30,000 × 9% = $2,700; monthly interest = $2,700 ÷ 12 =
$225.
3. Typically, a listing broker is considered to be:
A. A general agent
B. An independent contractor
C. A fiduciary (agent) of the seller
D. A dual agent
Answer: C
EXPLANATION: The listing broker represents the seller and owes them fiduciary duties.
, 4. A section is:
A. A circular plot of land
B. A square mile or 640 acres
C. An acre of land
D. A state subdivision
Answer: B
EXPLANATION: One section equals one square mile or 640 acres, part of the PLSS system.
5. A 12-unit apartment building owner refuses to rent due to national origin. Is this a Fair
Housing violation?
A. No, it’s a private residence
B. Yes
C. Only if subsidized
D. Only if federally funded
Answer: B
EXPLANATION: Fair Housing laws apply since the building has more than 4 units.
6. Which is NOT a step in debt collection through sale of property?
A. Judgment
B. Execution
C. Writ of persecution
D. Attachment
Answer: C
EXPLANATION: “Writ of persecution” is not a valid legal step. “Writ of execution” is.
7. What may Livia object to in her property tax appeal?
A. The mill rate
B. Equalization factor
C. The assessed value
D. The tax district
Answer: C
EXPLANATION: Owners can appeal assessed value, not tax rates or laws.
8. A reference point for measuring elevations is called:
A. Meridian
B. Baseline
C. Benchmark
D. Datum
Actual Questions and Answers
Expert-Verified Explanation
This Exam contains:
✪ 40 Questions and Answers
✪ Multiple-choice and True/False Format
✪ Expert-Verified Explanations
✪ Verified with Trusted Textbooks
1. A lease that goes month to month is known as:
A. Tenancy in common
B. Estate for years
C. Estate from period to period
D. Estate at sufferance
Answer: C
EXPLANATION: An estate from period to period (also called periodic tenancy) continues
automatically from one period to the next (month-to-month) unless terminated.
2. Madison negotiates a $30,000 loan with $200 monthly payments and 9% interest. What
is the interest for the first month?
A. $270
B. $225
C. $200
D. $180
Answer: B
EXPLANATION: Annual interest = $30,000 × 9% = $2,700; monthly interest = $2,700 ÷ 12 =
$225.
3. Typically, a listing broker is considered to be:
A. A general agent
B. An independent contractor
C. A fiduciary (agent) of the seller
D. A dual agent
Answer: C
EXPLANATION: The listing broker represents the seller and owes them fiduciary duties.
, 4. A section is:
A. A circular plot of land
B. A square mile or 640 acres
C. An acre of land
D. A state subdivision
Answer: B
EXPLANATION: One section equals one square mile or 640 acres, part of the PLSS system.
5. A 12-unit apartment building owner refuses to rent due to national origin. Is this a Fair
Housing violation?
A. No, it’s a private residence
B. Yes
C. Only if subsidized
D. Only if federally funded
Answer: B
EXPLANATION: Fair Housing laws apply since the building has more than 4 units.
6. Which is NOT a step in debt collection through sale of property?
A. Judgment
B. Execution
C. Writ of persecution
D. Attachment
Answer: C
EXPLANATION: “Writ of persecution” is not a valid legal step. “Writ of execution” is.
7. What may Livia object to in her property tax appeal?
A. The mill rate
B. Equalization factor
C. The assessed value
D. The tax district
Answer: C
EXPLANATION: Owners can appeal assessed value, not tax rates or laws.
8. A reference point for measuring elevations is called:
A. Meridian
B. Baseline
C. Benchmark
D. Datum
