Iowa Real Estate Exam Prep Questions and Detailed Answers

Corn stored in a grain bin is considered real property False Kitchen cabinets, a furnace, or bathroom appliances are considered real property after they have been installed as improvements to the home, even though at one time they were personal property True A dishwasher installed in the cabinets does not need to be excluded from the listing if the owner is planning on taking the washer with them. It can be excluded on the sales agreement. False It is not necessary for a licensee to be under the control of a real estate broker False A water well pump would be considered personal property and could be taken with the seller False The sudden replacement of land by a landslide is called Avulsion True Riparian water rights are the right enjoyed by landowners located next to lakes False Appointees to the Iowa Real Estate Commission must be approved by the Iowa Senate True Littoral rights are rights enjoyed by landowners located next to rivers and streams False Real property is divided into two categories; Physical and economic True Landowners can sell air rights or subsurface rights and retain the surface rights True A term that has been given to expanding exposure is "Farming." Some good examples of "Farming" are as followed: 1.) Door knocking in local neighborhood 2.)putting business cards on local business bulletin boards 3.)Joining breakfast clubs, service clubs and other casual organizations The bundle of rights that accompanies real property ownership include 5 rights True The owner of land also owns the rights to the subsurface and the air rights above the land True