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PERRY REAL ESTATE COLLEGE FINAL QUESTIONS WITH
DETAILED VERIFIED ANSWERS GRADED A+ 100% VERIFIED.
Q: Fixture
An item of personal property that has been converted to real
ANS >>>
property by being permanently affixed to the realty.
Q: Special Purpose Real Estate
ANS >>> churches, schools, cemeteries, and government-held lands
Q: Propriety lease
ANS >>> the lease given to shareholders in a cooperative
Q: Disposition
ANS >>> Right to encumber
Q: Control
ANS >>> Right to determine interest of property
Q: Accession
ANS >>>Acquiring title to additions or improvements to real property as
a result of a lease ending
Q: PITI
ANS >>> Principal, Interest, Taxes, Insurance
Q: Exclusion
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ANS >>> ability to legally refuse others interest
Q: Yes
ANS >>> Are Fixtures real property?
Q: third
ANS >>> Mortgage interest on a home affects tax return
Q: Improvement
ANS >>> any artificial thing attached on or below ground, such as a
building, fence, water line or sewer pipe, as well as growing things
that are made part of the landscaping.
Q: Deed
ANS >>> A document that transfers ownership of property from one
party to another.
Q: federally related transaction
ANS >>> Appraisals are required for
Q: Condo
ANS >>> An individually owned unit in an apartment-style complex with
shared ownership of common areas. Owned in fee simple + undivided
joint interests
Q: monetary policy
ANS >>> factor in supply
Q: Old English law
ANS >>> Bundle of legal rights comes from
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Q: Fructus Industriales
ANS >>>An Emblements, considered real property, plant or crop that
require annual cultivation
Q: Enjoyment
ANS >>> possession without harassment or interference
Q: Broker
ANS >>> Point of contact between 2 or more people in negotiating the
sale, rental or purchase
Q: FEMA
ANS >>> administers the national flood insurance program
Q: Chattel
ANS >>> an item of personal, movable property
Q: Subdivision
ANS >>> the dividing of a single property into smaller parcels
Q: Agency
ANS >>> Not determined by source of compensation
Created by express agreement between parties and ratification,
estoppel, and implication
Q: Net listings
ANS >>> prohibited in some states
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Q: Agent
ANS >>> Principal broker of firm
Q: Puffing
ANS >>> "Best deal in town"
Q: Exclusive agency
ANS >>> owner sold home herself and didn't owe a commission
Q: Seller's decision
ANS >>> Listed price of a property is always
Q: Breached duty of loyalty
ANS >>> Showing a buyer homes outside their price range
Agent is interested in a property they are showing a buyer and they
make an offer on it
"self-dealing"
Q: Undisclosed dual agency
ANS >>> repping buyer and seller without full and complete disclosure
Q: Broker
Commission that is paid to a salesperson is determined by mutual
ANS >>>
agreement with
Q: Transaction broker
PERRY REAL ESTATE COLLEGE FINAL QUESTIONS WITH
DETAILED VERIFIED ANSWERS GRADED A+ 100% VERIFIED.
Q: Fixture
An item of personal property that has been converted to real
ANS >>>
property by being permanently affixed to the realty.
Q: Special Purpose Real Estate
ANS >>> churches, schools, cemeteries, and government-held lands
Q: Propriety lease
ANS >>> the lease given to shareholders in a cooperative
Q: Disposition
ANS >>> Right to encumber
Q: Control
ANS >>> Right to determine interest of property
Q: Accession
ANS >>>Acquiring title to additions or improvements to real property as
a result of a lease ending
Q: PITI
ANS >>> Principal, Interest, Taxes, Insurance
Q: Exclusion
, Page | 2
ANS >>> ability to legally refuse others interest
Q: Yes
ANS >>> Are Fixtures real property?
Q: third
ANS >>> Mortgage interest on a home affects tax return
Q: Improvement
ANS >>> any artificial thing attached on or below ground, such as a
building, fence, water line or sewer pipe, as well as growing things
that are made part of the landscaping.
Q: Deed
ANS >>> A document that transfers ownership of property from one
party to another.
Q: federally related transaction
ANS >>> Appraisals are required for
Q: Condo
ANS >>> An individually owned unit in an apartment-style complex with
shared ownership of common areas. Owned in fee simple + undivided
joint interests
Q: monetary policy
ANS >>> factor in supply
Q: Old English law
ANS >>> Bundle of legal rights comes from
, Page | 3
Q: Fructus Industriales
ANS >>>An Emblements, considered real property, plant or crop that
require annual cultivation
Q: Enjoyment
ANS >>> possession without harassment or interference
Q: Broker
ANS >>> Point of contact between 2 or more people in negotiating the
sale, rental or purchase
Q: FEMA
ANS >>> administers the national flood insurance program
Q: Chattel
ANS >>> an item of personal, movable property
Q: Subdivision
ANS >>> the dividing of a single property into smaller parcels
Q: Agency
ANS >>> Not determined by source of compensation
Created by express agreement between parties and ratification,
estoppel, and implication
Q: Net listings
ANS >>> prohibited in some states
, Page | 4
Q: Agent
ANS >>> Principal broker of firm
Q: Puffing
ANS >>> "Best deal in town"
Q: Exclusive agency
ANS >>> owner sold home herself and didn't owe a commission
Q: Seller's decision
ANS >>> Listed price of a property is always
Q: Breached duty of loyalty
ANS >>> Showing a buyer homes outside their price range
Agent is interested in a property they are showing a buyer and they
make an offer on it
"self-dealing"
Q: Undisclosed dual agency
ANS >>> repping buyer and seller without full and complete disclosure
Q: Broker
Commission that is paid to a salesperson is determined by mutual
ANS >>>
agreement with
Q: Transaction broker
