REAL ESTATE EXAM SCENARIOS|QUESTIONS AND ANSWERS|LATEST 2025/2026|GRADED A+

REAL ESTATE EXAM
SCENARIOS|QUESTIONS AND
ANSWERS|LATEST 2025/2026|GRADED A+
A couple owns a property as a tenancy by the entirety. When one of the spouses passes away,
B B B B B B B B B B B B B B B B B B



the other spouse gains full ownership of the property. When the remaining spouse passes aw
B B B B B B B B B B B B B B



ay, the children inherit the property. This is known as what type of interest in real property?
B B B B B B B B B B B B B B B B




A Life estate
B B




B Leasehold estate
B B




C Joint tenancy
B B




D Tenancy in common - ANSWER
B B B B B A Life estate
B B




Which of the following interests in real property offer the most complete form of ownership?
B B B B B B B B B B B B B B




A Life estates
B B




B Leasehold estates
B B




C Fee simple absolute estates
B B B B




D Cooperative estates - ANSWER
B B B B C Fee simple absolute estates
B B B B




Which of the following leasehold estates automatically renews for another fixed period of tim
B B B B B B B B B B B B B



e?

A Estate at will
B B B




B Estate for years
B B B




C Periodic estate
B B




D Estate at sufferance - ANSWER
B B B B B C Periodic estate
B B




What type of easement is commonly used by utility companies?
B B B B B B B B B




A Easement by necessity
B B B




B Easement by condemnation
B B B




C Easement in gross
B B B




D Easement by prescription - ANSWER
B B B B B C Easement in gross
B B B




1
Wicky

, The person appointed by a court to distribute the intestate decedent's property is known as a/
B B B B B B B B B B B B B B B



an...?

A Administrator
B




B Executor
B




C Dower
B




D Curtsey - ANSWER
B B B A Administrator
B




Who typically signs the sales contract first?
B B B B B B




A The seller
B B




B The buyer
B B




C The listing broker
B B B




D The buyer's broker - ANSWER
B B B B B B The buyer
B B




This occurs when a landlord takes matters into their own hands and removes a tenant from th
B B B B B B B B B B B B B B B B



e property?
B




A Actual eviction
B B




B Constructive eviction
B B




C Legal eviction
B B




D Abandonment by tenant - ANSWER
B B B B B A Actual Eviction
B B




Which of the following loans is considered interest-only?
B B B B B B B




A Fixed-rate mortgage
B B




B Balloon loan
B B




C Straight-term loan
B B




D Partially amortized loan - ANSWER
B B B B B C Straight-term loan
B B




In which of the following loan types does the seller become the mortgagee?
B B B B B B B B B B B B




2
Wicky