Questions with Correct Answers
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1. A contract for an illegal purpose can be called...? - ANSWER ✓ void
contract
2. abroad. Which of the following is the most likely method of discharge for
this contract? - ANSWER ✓ agreement of the parties
3. A court is most likely to award specific performance in a contract
involving...? - ANSWER ✓ Real Estate Services
4. Tom walks up to Teresa and says, "Would you like to buy my house?" This
is an example of...? - ANSWER ✓ an invitation to treat
5. Sasha asks a real estate agent to help her sell her house. Sasha ends up
finding a buyer for the house. At the closing, no agent receives a
commission. What type of listing agreement did Sasha make? - ANSWER ✓
None of the other answers
6. What's the primary factor for determining whether a contract can be
assigned? - ANSWER ✓ the contract
7. What acronym can be used to determine if something is a fixture of
moveable property?
- ANSWER ✓ M.A.R.I.A
8. Kitchen cabinets are likely to be considered fixtures because...? - ANSWER
✓ They are attached to the wall
, 9. Brad just bought a home from Sally. The closing is done. Brad sees Sally
moving out and the movers are hauling out a couch. Brad protests. He thinks
the couch is part of the real estate. How will this be resolved? - ANSWER ✓
Sally keeps the couch
10.Under what circumstances could a developer with a total of 38 lots qualify
for a full statutory exemption? - ANSWER ✓ Subdivisions with more than
twenty-five lots may qualify if fewer than twenty-five lots are offered for
sale because some lots are offered for sale or lease under the common
promotional plan.
11.Meghan is negotiating a deal to buy an abandoned property "as is" from a
mortgage company. Her agent advises her to ask the seller to remove some
old metal drums with an unknown liquid in, which have been stored in a
shed. Her reasoning is that? - ANSWER ✓ People who transport substances
on the EPA's National Priorities List may be subject to penalties and fines
12.Lead is a naturally occurring element found in ............., ............, and
.............. - ANSWER ✓ air, water, land
13.Subdivisions are usually described by the...? - ANSWER ✓ lot and block
system
14.The government survey system is hundreds of years old and is most
commonly used in ...? - ANSWER ✓ western u.s
15.When Sidney listed a property, there were natural boundaries that indicted
where the property lines were. One was a large tree, and another was a
flowing stream. Three months later when he's showing it to an interested
buyer, he discovers the tree is gone. It had blown over in a windstorm and
been removed. Sidney's reaction is...? - ANSWER ✓ Unconcerned, because
he knows the legal description is the most accurate, not landmarks.
16.What is the term that describes a sudden and perceptible loss of land by
action of the water that borders it? - ANSWER ✓ Avulsion
17.What type of leasehold estate specifies a rental period but no pre-defined
end date for the lease - ANSWER ✓ periodic estate