Utah Real Estate Pre-Licensing Exam Questions With Correct Answers

Utah Real Estate Pre-Licensing Exam Questions
With Correct Answers

affixed |- |CORRECT |ANSWER✔✔-Typically |in |reference |to |mineral, |water, |or |surface |rights, |
resources |that |go |with |the |property |are |______________.



Annexation |- |CORRECT |ANSWER✔✔-the |process |of |personal |property |becoming |real |property.
|With |reference |to |subsurface |rights, |annexation |is |adding |water |or |mineral |rights |to |the |


property. |Legal |tests |include |method |of |annexation, |adaptability, |relationship |of |the |parties.



appurtenance |- |CORRECT |ANSWER✔✔-Something |that |comes |with |real |property. |Water |or |a |
well, |or |an |easement |could |be |an |____________________.



Bundle |of |rights |- |CORRECT |ANSWER✔✔-Right |of |Possession, |Right |of |Use, |Right |of |Quiet |
Enjoyment, |Right |of |Exclusion, |Right |of |Disposition.



Chattel |- |CORRECT |ANSWER✔✔-Another |name |for |personal |property, |or |personalty.



Easement |- |CORRECT |ANSWER✔✔-The |right |to |use |or |access |another |property.



Emblements |- |CORRECT |ANSWER✔✔-Something |that |can |be |severed |or |removed |from |the |
property.



fixture |- |CORRECT |ANSWER✔✔-Anything |that |is |actually |fastened |to |the |real |property. |
Fixtures |become |part |of |the |real |property.



hypothecation |- |CORRECT |ANSWER✔✔-The |ability |to |pledge |my |property |as |collateral |in |
exchange |for |a |loan.

,improvement |- |CORRECT |ANSWER✔✔-Anything |that |has |been |built |on |the |real |property.



legal |description: |- |CORRECT |ANSWER✔✔-The |way |real |property |is |described. |Includes |metes |
and |bounds, |rectangular |survey |(or |government |survey), |and |lot |and |block |(or |subdivision |
method).



personal |property: |- |CORRECT |ANSWER✔✔-Anything |that |is |not |attached |or |made |part |of |the |
structure |itself. |Also |called |chattel |or |personalty.



personalty |- |CORRECT |ANSWER✔✔-Another |name |for |personal |property.



real |estate: |- |CORRECT |ANSWER✔✔-Another |term |for |real |property.



real |property: |- |CORRECT |ANSWER✔✔-Land, |improvements, |and |permanent |attachments. |
Also |referred |to |as |real |estate.



severance |- |CORRECT |ANSWER✔✔-Removing |a |part |of |real |property |that |then |becomes |
personal |property.



situs |- |CORRECT |ANSWER✔✔-Another |name |for |location.



Concept: |bundle |of |rights: |- |CORRECT |ANSWER✔✔-Owners |of |real |property |have |certain |
rights. |Others |are |reserved |to |the |government |or |other |owners. |The |bundle |includes |the |right |
of |possession, |right |of |use, |right |of |quiet |enjoyment, |right |of |exclusion, |right |of |disposition.



Concept: |Characteristics |of |real |property |- |CORRECT |ANSWER✔✔-Economic |characteristics |
include |scarcity, |improvements, |permanence |of |investment, |location |(situs). |Physical |
characteristics |include |immobility, |indestructability, |and |uniqueness.

,legal |descriptions |- |CORRECT |ANSWER✔✔-Understanding |how |metes |and |bounds, |rectangular
|(or |government |survey), |and |lot |and |block |(or |subdivision |method) |legal |descriptions |are |used


|is |critical |to |accurately |describing |property |that |is |to |be |transferred.




Concept: |personal |property: |- |CORRECT |ANSWER✔✔-Also |know |as |chattell |or |personalty. |
Personal |property |are |those |things |that |are |owned |that |are |not |attached |to |the |land. |They |can
|be |moved |from |place |to |place. |Once |emblements |are |removed |from |real |property, |they |


become |personal |property. |Anything |that |was |attached |to |real |property |that |is |severed |
becomes |personal |property. |Anything |that |is |owned |but |not |attached |or |affixed |to |real |
property |is |personal |property.



Concept: |real |property: |- |CORRECT |ANSWER✔✔-Also |known |as |real |estate. |The |surface |of |the |
land, |everything |under |the |land, |and |the |air |above |the |land.



Another |name |for |the |Subdivision |method |of |land |description |is |the:



A. |Metes-and-Bounds |method |



B. |Government |Survey |system



C. |Lot-and-Block |method



D. |Plat |Map |method |- |CORRECT |ANSWER✔✔-C. |Lot-and-Block |method



Another |name |for |the |Rectangular |Survey |system |is |the:



A. |Metes-and-Bounds |method |

, B. |Government |Survey |system



C. |Lot-and-Block |method |



D. |Plat |Map |method |- |CORRECT |ANSWER✔✔-B. |Government |Survey |system



The |oldest |method |of |land |description |in |the |United |States |is:



A. |Rectangular |Survey



B. |Government |Survey



C. |Lot |and |Block |Method



D. |Metes-and |Bounds |method |- |CORRECT |ANSWER✔✔-D. |Metes-and |Bounds |method



Economic |characteristics |of |real |property |include:



A. |Scarcity, |location, |improvements |



B. |Immobility, |indestructability, |uniqueness



C. |Water |rights, |mineral |rights, |air |rights |



D. |Situs, |Accession, |Severance |- |CORRECT |ANSWER✔✔-A. |Scarcity, |location, |improvements