BARNEY FLETCHER REAL ESTATE EXAM ACTUAL
EXAM 300 QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS) /ALREADY
GRADED A+
640 - ANSWERIf a person owns a square parcel of land that is 1 mile on each side, the
person owns how many acres?
A - ANSWERA buyer enters into a contract for the purchase of property, agreeing to
make a specified down payment, and further agreeing to regular monthly payments to
the seller, who is holding legal title, for a specified period of time. This describes what
type of contract?
A. installment contract
B. purchase money mortgage
C. option contract
D. agreement contract
A - ANSWERA buyer makes an offer to purchase a home for $95,000. The seller makes
a counteroffer of $100,000. which of the following statements is true?
A. the seller is now the offeror
B. if the buyer rejects the counteroffer the seller has the choice to accept the original
offer
C. the original offer remains open until its expiration date
D. the seller must formally reject the original offer before making the counteroffer
A - ANSWERA buyer purchased a tract of land at a tax sale to satisfy the claim for
delinquent taxes. if no one redeems the property during the statutory time period, the
purchaser would most likely receive which of the following as evidence of ownership?
A. tax deed
B. sheriff's deed
C. certificate of title
D. statutory warrant deed
A - ANSWERA deed is acknowledged by
A. the grantor
B. a notary public
C. the grantee
D. the clerk of the court
A - ANSWERA deed is given and creates a joint tenancy. To be recorded the deed
requires:
,A. signature of grantor
B. signatures of the grantor and all of the joint tenants
C. signatures of the grantor and one of the joint tenants
D. no signatures, the act of recording serves as constructive notice of ownership
A - ANSWERA homeowner tells a broker that he would like to sell his house. The broker
agrees to sell the house. This agreement would be considered:
A. an express contract
B. an implied contract
C. an illegal contract as it requires a writing
D. an equilateral contract
A - ANSWERA real estate broker presents an offer to the seller on a property with the
provision that the seller has 6 days to accept the offer. At the end of the 3rd day, the
buyer withdraws the offer. What should the broker do?
A. Return the earnest money deposit to the buyer
B. give the earnest money deposit to the seller
C. split the deposit with the buyer
D. split the deposit with the seller
A - ANSWERA salesperson took a listing on a property which had a crack in the
foundation caused by water seepage. It was obvious that the owner had filled in and
painted over the crack although the owner advised the sales agent that the seepage
problem had been corrected, when in fact it had not. If the salesperson shows the
property without advising potential buyers of the seepage problem, the salesperson
would be guilty of:
A. fraud
B. misrepresentation
C. puffery
D. nothing
A - ANSWERAfter buying and settling into her new home, Joanne discovered that the
fence of her neighbor, Gloria, encroached ten feet on Joanne's side of the property line.
Which of the following is true?
A. Joanne may sue Gloria to have the fence removed if there has not been enough time
for Gloria to get an easement by prescription
B. Joanne has legal recourse in the courts only if she did not inspect the property before
she bought it
C. Joanne has to own the property for at least three months before she may take any
action on getting her land back
D. Joanne really doesn't have any legal recourse since the fence was there before she
bought the property
A - ANSWERAmalia owns property and gladly allows her friend Sophie to use the land,
reserving for herself the right to periodic inspections. In order to maintain her interest,
Amalia should give Sophie:
,A. a license
B. a right of way
C. an easement appurtenant
D. an easement in gross
A - ANSWERAn easement appurtenant can be terminated by all of the following
EXCEPT
A. the owner of the servient tenement, by executing a deed releasing his easement
interest
B. the owner of the dominant tenement, by executing a deed releasing his easement
interest
C. The dominant and servient tenements are merged
D. The owner of the dominant tenement abandons his easement interest
A - ANSWERAn offer is made to a seller and the seller makes a counteroffer. prior to
the buyer accepting the counteroffer, the seller receives a better offer from another
prospective buyer. Under these circumstances, the seller:
A. may withdraw the counteroffer
B. should advise the second offeror to wait
C. can accept the second offer without recourse
D. is bound by the terms of the counteroffer
A - ANSWERAn owner less a property with a broker. the broker shows the property and
receives an offer, but is unable to present the offer to the owner. Two days later, the
owner cancels the listing agreement. what should be done with the earnest money
deposit received with the offer to purchase agreement?
A. returned to the buyer
B. given to the seller
C. split between the broker and the seller
D. split between the broker and the buyer
A - ANSWERCommercial property includes all but which of the following?
A. horse ranch
B. office buildings
C. restaurants
D. vacant land suitable for commercial development
A - ANSWERDavid owns property along the banks of the Little Big Horn River. Scott
owns property adjoining David's, and has access to the highway, but not to the river.
Scott and David grant each other appurtenant easements to cross each others property
to get to the road and the river respectively. The riparian rights associated with property
ownership belong to:
A. David because his property borders the river
B. Scott, because he has an easement to cross David's land
C. Both David and Scott
D. Neither
, A - ANSWEREach of the following entities has the power of eminent domain, EXCEPT:
A. Religious schools
B. Railroads
C. Public utilities
D. School districts
A - ANSWEREach of the following is an involuntary method of conveying property
EXCEPT
A. quitclaim deed
B. escheat
C. condemnation
D. adverse possession
A - ANSWERHarry sold his riverfront property to Sally, but reserved for himself an
easement whereby for the rest of his life, Harry will have the right to cross the property
to fish from the river. Which of the following statements is correct about this situation?
A. Sally owns the servient estate
B. Harry owns the dominant estate
C. Sally owns the servient estate and Harry owns the dominant estate
D. Sally owns the dominant estate and Harry owns the servient estate
A - ANSWERIn a real estate contract, the legal description of the property describes
the:
A. Land only
B. Land and improvements
C. land, improvements and all rights pertaining to the land
D. Land, improvements, rights and rights of easement
A - ANSWERJerry Jones buys a piece of land that has no access to a public road. He
can access his land:
A. Because the law guarantees all landowners egress and ingress
B. only if one of his neighbors grants him an easement
C. only by establishing an easement by prescription
D. because of the principle of laches
A - ANSWERLicensee Lenny shows a home to Prospect Paul. Lenny tells Paul that this
house has the best view of the lake. Paul buys the house and later discovers that a
neighbor down the street has a view that in Paul's opinion is a better view than his own.
This is an example of:
A. puffing
B. mistake
C. misrepresentation
D. fraud
EXAM 300 QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS) /ALREADY
GRADED A+
640 - ANSWERIf a person owns a square parcel of land that is 1 mile on each side, the
person owns how many acres?
A - ANSWERA buyer enters into a contract for the purchase of property, agreeing to
make a specified down payment, and further agreeing to regular monthly payments to
the seller, who is holding legal title, for a specified period of time. This describes what
type of contract?
A. installment contract
B. purchase money mortgage
C. option contract
D. agreement contract
A - ANSWERA buyer makes an offer to purchase a home for $95,000. The seller makes
a counteroffer of $100,000. which of the following statements is true?
A. the seller is now the offeror
B. if the buyer rejects the counteroffer the seller has the choice to accept the original
offer
C. the original offer remains open until its expiration date
D. the seller must formally reject the original offer before making the counteroffer
A - ANSWERA buyer purchased a tract of land at a tax sale to satisfy the claim for
delinquent taxes. if no one redeems the property during the statutory time period, the
purchaser would most likely receive which of the following as evidence of ownership?
A. tax deed
B. sheriff's deed
C. certificate of title
D. statutory warrant deed
A - ANSWERA deed is acknowledged by
A. the grantor
B. a notary public
C. the grantee
D. the clerk of the court
A - ANSWERA deed is given and creates a joint tenancy. To be recorded the deed
requires:
,A. signature of grantor
B. signatures of the grantor and all of the joint tenants
C. signatures of the grantor and one of the joint tenants
D. no signatures, the act of recording serves as constructive notice of ownership
A - ANSWERA homeowner tells a broker that he would like to sell his house. The broker
agrees to sell the house. This agreement would be considered:
A. an express contract
B. an implied contract
C. an illegal contract as it requires a writing
D. an equilateral contract
A - ANSWERA real estate broker presents an offer to the seller on a property with the
provision that the seller has 6 days to accept the offer. At the end of the 3rd day, the
buyer withdraws the offer. What should the broker do?
A. Return the earnest money deposit to the buyer
B. give the earnest money deposit to the seller
C. split the deposit with the buyer
D. split the deposit with the seller
A - ANSWERA salesperson took a listing on a property which had a crack in the
foundation caused by water seepage. It was obvious that the owner had filled in and
painted over the crack although the owner advised the sales agent that the seepage
problem had been corrected, when in fact it had not. If the salesperson shows the
property without advising potential buyers of the seepage problem, the salesperson
would be guilty of:
A. fraud
B. misrepresentation
C. puffery
D. nothing
A - ANSWERAfter buying and settling into her new home, Joanne discovered that the
fence of her neighbor, Gloria, encroached ten feet on Joanne's side of the property line.
Which of the following is true?
A. Joanne may sue Gloria to have the fence removed if there has not been enough time
for Gloria to get an easement by prescription
B. Joanne has legal recourse in the courts only if she did not inspect the property before
she bought it
C. Joanne has to own the property for at least three months before she may take any
action on getting her land back
D. Joanne really doesn't have any legal recourse since the fence was there before she
bought the property
A - ANSWERAmalia owns property and gladly allows her friend Sophie to use the land,
reserving for herself the right to periodic inspections. In order to maintain her interest,
Amalia should give Sophie:
,A. a license
B. a right of way
C. an easement appurtenant
D. an easement in gross
A - ANSWERAn easement appurtenant can be terminated by all of the following
EXCEPT
A. the owner of the servient tenement, by executing a deed releasing his easement
interest
B. the owner of the dominant tenement, by executing a deed releasing his easement
interest
C. The dominant and servient tenements are merged
D. The owner of the dominant tenement abandons his easement interest
A - ANSWERAn offer is made to a seller and the seller makes a counteroffer. prior to
the buyer accepting the counteroffer, the seller receives a better offer from another
prospective buyer. Under these circumstances, the seller:
A. may withdraw the counteroffer
B. should advise the second offeror to wait
C. can accept the second offer without recourse
D. is bound by the terms of the counteroffer
A - ANSWERAn owner less a property with a broker. the broker shows the property and
receives an offer, but is unable to present the offer to the owner. Two days later, the
owner cancels the listing agreement. what should be done with the earnest money
deposit received with the offer to purchase agreement?
A. returned to the buyer
B. given to the seller
C. split between the broker and the seller
D. split between the broker and the buyer
A - ANSWERCommercial property includes all but which of the following?
A. horse ranch
B. office buildings
C. restaurants
D. vacant land suitable for commercial development
A - ANSWERDavid owns property along the banks of the Little Big Horn River. Scott
owns property adjoining David's, and has access to the highway, but not to the river.
Scott and David grant each other appurtenant easements to cross each others property
to get to the road and the river respectively. The riparian rights associated with property
ownership belong to:
A. David because his property borders the river
B. Scott, because he has an easement to cross David's land
C. Both David and Scott
D. Neither
, A - ANSWEREach of the following entities has the power of eminent domain, EXCEPT:
A. Religious schools
B. Railroads
C. Public utilities
D. School districts
A - ANSWEREach of the following is an involuntary method of conveying property
EXCEPT
A. quitclaim deed
B. escheat
C. condemnation
D. adverse possession
A - ANSWERHarry sold his riverfront property to Sally, but reserved for himself an
easement whereby for the rest of his life, Harry will have the right to cross the property
to fish from the river. Which of the following statements is correct about this situation?
A. Sally owns the servient estate
B. Harry owns the dominant estate
C. Sally owns the servient estate and Harry owns the dominant estate
D. Sally owns the dominant estate and Harry owns the servient estate
A - ANSWERIn a real estate contract, the legal description of the property describes
the:
A. Land only
B. Land and improvements
C. land, improvements and all rights pertaining to the land
D. Land, improvements, rights and rights of easement
A - ANSWERJerry Jones buys a piece of land that has no access to a public road. He
can access his land:
A. Because the law guarantees all landowners egress and ingress
B. only if one of his neighbors grants him an easement
C. only by establishing an easement by prescription
D. because of the principle of laches
A - ANSWERLicensee Lenny shows a home to Prospect Paul. Lenny tells Paul that this
house has the best view of the lake. Paul buys the house and later discovers that a
neighbor down the street has a view that in Paul's opinion is a better view than his own.
This is an example of:
A. puffing
B. mistake
C. misrepresentation
D. fraud
