BUL 3320 EXAM 2 WITH COMPLETE
SOLUTIONS
in 1978, the __ which prohibits employment discrimination because of pregnancy,
childbirth, or related medical conditions was an acted as an amendment to title VII of the
civil rights act - Correct Answers -pregnancy discrimination act
an arrangement where an owner of real property borrows money from a lender and
pledges the real property as collateral to secure the repayment of the loan is known as
___ - Correct Answers -mortgage
which of the following is true of an ownership of real property that is fee simple absolute
- Correct Answers -It is infinite in duration
A right to use someone else's land without owning or leasing it is called - Correct
Answers -easement
which of the following is considered tangible personal property? - Correct Answers -
computer equipment
Martin, who wants to sell a house he owns, authorizes his concierge, Willhelm, to find a
potential buyer, and finalize a deal above stipulated price. Willhelm contracts Chris, a
real estate broker, and intends him to only find a potential buyer and send them over to
Willhelm for the sale. Martin then contracts ReNowait Goodhouses, a home
improvement company to renovate the house. ReNowait completes their work and
Martin pays them. Chris then searches for a suitable buyer and finds one in George.
George buys the house and Chris is paid for is services. Who is the principal during the
land sale transaction? - Correct Answers -Martin
A(n) ___ is a fiduciary relationship which results from the manifestation of consent by
one person to another that the other shall act in his behalf and subject to his control,
and consent by the other so to act. - Correct Answers -agency
___ is a situation in which a creditor agrees to extend credit only if the purchaser pledge
is some personal property as collateral for the loan - Correct Answers -secured credit
, ___ are an example of real property - Correct Answers -buildings
A ___ is an instrument that describes a persons ownership interest in a piece of real
property - Correct Answers -deed
what is chapter 7 discharge? - Correct Answers -The termination of the legal duty of an
individual debtor to pay unsecured debts that remain unpaid upon the completion of a
Chapter 7 proceeding.
which of the following acts particularly designed to regulate the home loan market, and
put the burden on lenders to verify that a borrower can afford to repay the loan for which
he or she has applied? - Correct Answers -mortgage reform and anti-predatory lending
a(n) ___ is an arrangement in which a third-party promises to be secondarily liable for
the payment of another's debt - Correct Answers -guaranty arrangement
The term ___ refers to a written document signed by a contractor, a subcontractor,
laborer, or print material person, waiving his or her statutory lien against real property -
Correct Answers -release of lien
Land as well as buildings, trees, soil, minerals, timber, plants, and other things
permanently affixed to the land are known as ____. - Correct Answers -real property
a ___ is a written document signed by a debtor that creates a security interest in
personal property - Correct Answers -security agreement
A deed in which the grantor of real property transfers whatever interest he has in the
property to the grantee is known as a - Correct Answers -quitclaim deed
the ___ is federal act enacted in 1970 that promote safety in the workplace - Correct
Answers -OSHA
___ is an interest in real property that last for a specified persons lifetime - Correct
Answers -life estate
overtime pay is paid for each hour worked in excess of ___ hours that week - Correct
Answers -40
A person who transfers the right of possession and use of goods under a lease is
known as the - Correct Answers -lessor
___ is A form of co-ownership of real property that can be used only by married couples
- Correct Answers -Tenancy by the entirety
SOLUTIONS
in 1978, the __ which prohibits employment discrimination because of pregnancy,
childbirth, or related medical conditions was an acted as an amendment to title VII of the
civil rights act - Correct Answers -pregnancy discrimination act
an arrangement where an owner of real property borrows money from a lender and
pledges the real property as collateral to secure the repayment of the loan is known as
___ - Correct Answers -mortgage
which of the following is true of an ownership of real property that is fee simple absolute
- Correct Answers -It is infinite in duration
A right to use someone else's land without owning or leasing it is called - Correct
Answers -easement
which of the following is considered tangible personal property? - Correct Answers -
computer equipment
Martin, who wants to sell a house he owns, authorizes his concierge, Willhelm, to find a
potential buyer, and finalize a deal above stipulated price. Willhelm contracts Chris, a
real estate broker, and intends him to only find a potential buyer and send them over to
Willhelm for the sale. Martin then contracts ReNowait Goodhouses, a home
improvement company to renovate the house. ReNowait completes their work and
Martin pays them. Chris then searches for a suitable buyer and finds one in George.
George buys the house and Chris is paid for is services. Who is the principal during the
land sale transaction? - Correct Answers -Martin
A(n) ___ is a fiduciary relationship which results from the manifestation of consent by
one person to another that the other shall act in his behalf and subject to his control,
and consent by the other so to act. - Correct Answers -agency
___ is a situation in which a creditor agrees to extend credit only if the purchaser pledge
is some personal property as collateral for the loan - Correct Answers -secured credit
, ___ are an example of real property - Correct Answers -buildings
A ___ is an instrument that describes a persons ownership interest in a piece of real
property - Correct Answers -deed
what is chapter 7 discharge? - Correct Answers -The termination of the legal duty of an
individual debtor to pay unsecured debts that remain unpaid upon the completion of a
Chapter 7 proceeding.
which of the following acts particularly designed to regulate the home loan market, and
put the burden on lenders to verify that a borrower can afford to repay the loan for which
he or she has applied? - Correct Answers -mortgage reform and anti-predatory lending
a(n) ___ is an arrangement in which a third-party promises to be secondarily liable for
the payment of another's debt - Correct Answers -guaranty arrangement
The term ___ refers to a written document signed by a contractor, a subcontractor,
laborer, or print material person, waiving his or her statutory lien against real property -
Correct Answers -release of lien
Land as well as buildings, trees, soil, minerals, timber, plants, and other things
permanently affixed to the land are known as ____. - Correct Answers -real property
a ___ is a written document signed by a debtor that creates a security interest in
personal property - Correct Answers -security agreement
A deed in which the grantor of real property transfers whatever interest he has in the
property to the grantee is known as a - Correct Answers -quitclaim deed
the ___ is federal act enacted in 1970 that promote safety in the workplace - Correct
Answers -OSHA
___ is an interest in real property that last for a specified persons lifetime - Correct
Answers -life estate
overtime pay is paid for each hour worked in excess of ___ hours that week - Correct
Answers -40
A person who transfers the right of possession and use of goods under a lease is
known as the - Correct Answers -lessor
___ is A form of co-ownership of real property that can be used only by married couples
- Correct Answers -Tenancy by the entirety
