FINC 676 Quiz Review for Exam 1
Questions & Answers 100%
Verified (Grade A+)
Which of the following is NOT considered separate property?
A. Property owned by a spouse before marriage
B. The income generated by separate property
C. Property acquired after marriage by gift or inheritance
D. Recovery for personal injury - CORRECT ANSWER-B. The income generated
by separate property
Which of the following entities pass ordinances?
A. Congress
B. States
C. Cities and Counties
D. Judges - CORRECT ANSWER-C. Cities and Counties
, What is a Statute? - CORRECT ANSWER-A law created by a state legislature or
by Congress
The process by which a neutral third party assists parties in a conflict situation,
hopefully arriving at a mutually acceptable solution, is called_______?
A. Court of equity
B. Arbitration
C. Mediation
D. Summary Judgement - CORRECT ANSWER-C. Mediation
Under Texas law, which of the following is the dominant estate?
A. Subsurface Rights
B. Surface Rights
C. Whichever was purchased first
D. Neither is Dominant - CORRECT ANSWER-A. Subsurface Rights
Which of the following is NOT an aspect of tenancy in common?
A. Ownership by more than one
B. Tenancy in common cannot be presumed; it must be specifically created
C. Undivided interests
COPYRIGHT ALL RIGHTS RESERVED ©️ 2025
Questions & Answers 100%
Verified (Grade A+)
Which of the following is NOT considered separate property?
A. Property owned by a spouse before marriage
B. The income generated by separate property
C. Property acquired after marriage by gift or inheritance
D. Recovery for personal injury - CORRECT ANSWER-B. The income generated
by separate property
Which of the following entities pass ordinances?
A. Congress
B. States
C. Cities and Counties
D. Judges - CORRECT ANSWER-C. Cities and Counties
, What is a Statute? - CORRECT ANSWER-A law created by a state legislature or
by Congress
The process by which a neutral third party assists parties in a conflict situation,
hopefully arriving at a mutually acceptable solution, is called_______?
A. Court of equity
B. Arbitration
C. Mediation
D. Summary Judgement - CORRECT ANSWER-C. Mediation
Under Texas law, which of the following is the dominant estate?
A. Subsurface Rights
B. Surface Rights
C. Whichever was purchased first
D. Neither is Dominant - CORRECT ANSWER-A. Subsurface Rights
Which of the following is NOT an aspect of tenancy in common?
A. Ownership by more than one
B. Tenancy in common cannot be presumed; it must be specifically created
C. Undivided interests
COPYRIGHT ALL RIGHTS RESERVED ©️ 2025
