RE practice exam questions
How many feet are in one mile? A. 2,400 B. 3,620 C. 4,800 D. 5,280
D. 5,280
Sondrine's beach cottage has a right of way that allows nearby residents to get to the beach. What is the primary difference between a right of way and an easement? A. A right of way always has a defined expiration date. B. A right of way is always for an indefinite time period. C. A right of way offers the right to use the property for some function, as compared to just as a pass-through. D. A right of way provides a pass-through, but not a right to use the property.
D. A right of way provides a pass-through, but not a right to use the property.
Which of the following describes a right-of-way easement? A. A dock that a neighbor shares with another for launching his boat B. A fence that divides two neighbors' properties C. A recreation area of a condo that anyone can rent out for parties D. Land that a railroad company runs its track through
D. Land that a railroad company runs its track through
Steven owns 114 acres of wooded, rural land. The abundance of wildlife on his property means that his friends are always asking for permission to hunt on it during various game seasons. If Steven gives a friend permission to hunt on his land, it can be said that he has given his friend a ______. A. Covenant B. Easement C. Grant D. License
D. License
Loan-to-Value Ratio
= (loan amount/value) x 100
Net to seller
= sales price x (100% - % commission)
Equity
= value - amount owed
Find the number of square feet in a rectangular lot with 75 feet of frontage and a depth of 140 feet. A. 10,500 square feet B. 1.87 square feet C. 215 square feet D. 5,625 square feet
A. 10,500 square feet
How large is a section used in the rectangular government survey system? A. 640 acres B. 640 miles C. 640 square feet D. One acre
A. 640 acres
What's a township? A. A 36-square-mile square formed in the use of the rectangular government survey system B. A one-square-mile square formed in the use of the rectangular government survey system C. A permanent reference point used in the measurement of elevations D. The point of beginning used in a metes and bounds survey
A. A 36-square-mile square formed in the use of the rectangular government survey system
You're a builder who wants to follow the national standards for measuring the square footage of a home you've built. Which of the following areas do you include? A. A master suite B. An unfinished attic with six-foot ceilings C. Attached garage D. Detached pool house
A. A master suite
Eric didn't have direct access to the small lake in his subdivision; he had an easement arranged with his neighbor. Ten months ago, the developer built a public access road to the lake, so Eric stopped using the easement. What type of easement termination is this? A. Abandonment B. Express C. Merger D. Necessity
A. Abandonment
Alluvion describes new deposits of land that are the result of what natural process? A. Accretion B. Erosion C. Exclusion D. Reliction
A. Accretion
In the rectangular government survey system, what's a base line? A. An east-west line used as a reference point B. A north-south line used as a reference point C. The center-most section identified D. The center-most township identified
A. An east-west line used as a reference point
What's the definition of an encroachment? A. An intrusion onto another person's property B. An outstanding lien on a property C. The permitted use of another person's property for a specific use D. The purchase of a small portion of another person's property
A. An intrusion onto another person's property
Allen and Lewis are friends who each recently purchased real estate. Allen purchased a patio home in a small town an hour from the city, while Lewis purchased a condo in a really hot area near the city center. Although they paid similar amounts for their properties, if in six months Lewis' condo is worth much more. Which economic characteristic does this demonstrate? A. Area preference B. Improvements C. Permanence D. Scarcity
A. Area preference
Why is it important for a buyer to know if any easements or encroachments exist on a property? A. Both easements and encroachments affect the property's lot size, enjoyment, and use, which can affect a property's value. B. Both easements and encroachments are illegal. The buyer could end up in court. C. It helps determine special assessment levies. D. The buyer will have to remove these before the property can be re-sold.
A. Both easements and encroachments affect the property's lot size, enjoyment, and use, which can affect a property's value.
Which of the following units of measurement are used when determining volume? A. Centimeters cubed B. Front feet C. Linear feet D. Square feet
A. Centimeters cubed
Property with ownership by more than one person is known as ______. A. Co-ownership B. Dual ownership C. Estate by severalty D. Property partnership
A. Co-ownership
What does the metes and bounds system use to develop a property's legal description? A. Compass headings and directions B. Plat references C. Principal meridians and base lines D. Townships and sections
A. Compass headings and directions
Which of the following is a life estate in a property held by a widower? A. Curtesy B. Dower C. Estate at will D. Remainderman
A. Curtesy
Buyers Tony and Sylvia know the postal address of the property they're purchasing but are wondering about the legal description of the property. Where is the most likely place to find the legal description? A. Deed B. HOA covenant C. Home warranty D. Listing agreement
A. Deed
Kurt bought a vacant lot in a development that was 85% completed. When he started working with the builder to lay out where the house and driveway would be, they found he would need an easement because his driveway would spill over onto the adjacent lot by a few feet. Kurt owns the ______ estate or tenement. A. Dominant B. Gross C. Prescriptive D. Servient
A. Dominant
Your client, Ada, wants to purchase property that includes a garage apartment that's subject to an existing lease. Ada plans to rent the garage apartment to her sister next year. What should Ada specifically look for when reviewing the existing lease terms to decide if this is the right property for her? A. Duration and renewal options B. Lease start date C. Property management responsibilities D. Rent and security deposit amounts
A. Duration and renewal options
A part of your property is used by the local utility company to maintain its power lines. What's this an example of? A. Easement B. Eminent domain C. Encroachment D. Illegal use
A. Easement
Gene and Alex bought a property that backed up to a neighborhood park. The previous owner mentioned that ever since the park was built eight years ago, the next-door neighbor who works at the park has cut through the yard to get to the park rather than go around via the streets, which saves about half a mile. What kind of easement is this? A. Easement by prescription B. Easement in gross C. Express easement D. Visible easement
A. Easement by prescription
One of Jackie's creditors sued her in civil court. As a result of the judgment against her, her house, car, and art collection were all subject to sale in order to pay the creditor. What type of lien is this? A. General B. Special assessment C. Vendor's D. Voluntary
A. General
According to national standards, under what circumstances may a pool house be included in total square footage? A. If it is attached to the main house by a hallway or stairway B. If it is larger than 500 square feet C. If it is smaller than 500 square feet D. If its total cost is more than $25,000
A. If it is attached to the main house by a hallway or stairway
Which physical characteristic of land addresses the concept that the geographic location of a piece of land is fixed and can never be changed? A. Immobility B. Indestructibility C. Situs (location) D. Uniqueness
A. Immobility
Which economic characteristic of land contains the concept that a land's value can be affected by the changes made to it, such as construction of a home or shopping center? A. Improvements B. Permanence of investment C. Scarcity D. Situs (location)
A. Improvements
Karen's house was recently foreclosed on to pay off a lien on her home. What happens to any extra money after the lien and expenses of the sale are paid? A. It goes to Karen. B. It's given to a local government-approved charity. C. The bank receives the rest as compensation. D. The state government receives the extra funds.
A. It goes to Karen.
Which form of real property ownership (for owners other than married couples) means there's equal ownership shares with undivided possession rights? A. Joint tenancy B. Tenancy by the entirety C. Tenancy in common D. Tenancy in severalty
A. Joint tenancy
When considering buying property subject to an existing lease, it's critical for your client to clearly understand the lease terms, including the property management responsibilities, rent amount, renewal/purchase options, and the ______. A. Lease duration B. Lease start date C. Security deposit amount D. Tenants' phone number
A. Lease duration
Harmony is looking at the legal description on her purchase contract. It mentions that the plat of her property is recorded in Map Book 12, page 14, at the county courthouse. What type of legal description is this? A. Lot and block B. Metes and bounds C. Monument and benchmark D. Rectangular government survey
A. Lot and block
What must happen for an easement to be terminated due to abandonment? A. The dominant estate owner takes action that shows a clear intent to stop using the easement. B. The owner of a servient estate buys the dominant estate property. C. The owner of the dominant estate finds an alternate route and no longer needs the easement. D. The owners of both estates decide not to use the easement.
A. The dominant estate owner takes action that shows a clear intent to stop using the easement.
LaTonya's aunt left her a bungalow on the outskirts of the city. For many years, it was the place for family holiday gatherings, and LaTonya's sister was even married there. That's why her family is so upset to learn that she plans to sell the bungalow as soon as she gets it cleaned out. Which real property right allows her to sell the property? A. Control B. Disposition C. Exclusion D. Possesion
B. Disposition
Without this easement—usually involving access to a road—the owner requiring the right of passage would be landlocked. A. Easement appurtenant B. Easement by necessity C. Easement by prescription D. Easement in gross
B. Easement by necessity
Because of the topography of Elise's and Lawrence's respective yards, Elsie had to install her fence at the top of a hill, which is actually two feet over Lawrence's property line. What word or phrase best describes Elsie's fence? A. Easement in gross B. Encroachment C. Servient estate D. Visable easement
B. Encroachment
Derrick was thrilled to find out that the land he purchased includes several small caves. He's been spelunking for about three years and looks forward to exploring the caves on weekends. Which real property right allows him to do so? A. Disposition B. Enjoyment C. Exclusion D. Possession
B. Enjoyment
Mark has been openly using a property without the owner's permission for the last 30 years. What else must he do to meet the adverse possession requirements? A. File a quitclaim deed. B. Have a reasonable belief in his right to possess the property. C. Notify the owner of his intent to continue to use the property. D. Obtain a mechanic's lien against the owner.
B. Have a reasonable belief in his right to possess the property
Find the area of a square flower bed where each side measures 4.5 m. A. 1 meters squared B. 20.25 meters squared C. 4.5 meters squared D. 9 meters squared
B. 20.25 meters squared
What's a plat map? A. A detailed depiction of air lots above the land B. A detailed map of a subdivision that includes boundaries, measurements, and distances between points C. A map showing all of the benchmarks located in the U.S. D. A map used by tax assessors when determining the value of a property
B. A detailed map of a subdivision that includes boundaries, measurements, and distances between points
What's a section? A. A 36-square-mile square formed in the use of the rectangular government survey system B. A one-square-mile square formed in the use of the rectangular government survey system C. A permanent reference point used in the measurement of elevations D. The point of beginning used in a metes and bounds survey
B. A one-square-mile square formed in the use of the rectangular government survey system
What's a monument? A. 43,560 square feet B. A permanent land marker sometimes used in legal descriptions C. A point from which elevations are measured D. The subdivision of air above the land
B. A permanent land marker sometimes used in legal descriptions
Sherman, who owns property in a life estate, neglects the property, significantly diminishing its value. This is called ______. A. A lease option B. An act of waste C. An estate at sufferance D. A possessional prerogative
B. An act of waste
Juan has decided to invest his small inheritance in real estate. He is drawn to the fact that he can add a building where there wasn't one prior and immediately increase the value of his investment. Which economic characteristic of real property is this? A. Area preference B. Improvements C. Permanence D. Scarcity
B. Improvements
Which physical characteristic of land addresses the concept that while improvements may deteriorate over time, the land itself cannot be destroyed? A. Immobility B. Indestructibility C. Permanence of investment D. Uniqueness
B. Indestructibility
Which of these is an encroachment? A. A path providing neighborhood access to a pond cuts through part of Bill's property. B. Jeff installed a sidewalk next to his driveway, six inches outside his property. C. The city seized a formerly private parcel of land for public use. D. The state took ownership of Dawn's property when no heirs could be located following her death.
B. Jeff installed a sidewalk next to his driveway, six inches outside his property.
Which of the following involves permission to do something on another's land without actually possessing any interest or ownership in the land? A. Grant B. License C. Permission D. Reserve
B. License
Lucas, Ivan, Chad, and Trace own a property as joint tenants. After a few years, Ivan sells his interest to Tom. Chad dies intestate but is survived by a wife, Amy. Trace also then passes away but wills his property to Monique. Who owns the property after Trace's death? A. Lucas B. Lucas and Tom C. Lucas, Monique, and Amy D. Lucas, Tom, Amy, and Monique
B. Lucas and Tom
Oscar bought an older home and hired a contractor to replace the old knob and tube wiring throughout the house. He was invoiced for the work, but 60 days have passed and Oscar has yet to pay the bill. The electrician filed a lien against Oscar's house. What type of lien is this? A. HOA-related B. Mechanic's C. Mortgage D. Special assessment
B. Mechanic's
Sunshine Surveyors Inc. created a lot and block survey for a new residential development, Happy Acres. The first thing they did when they surveyed the new neighborhood was to reference what type of description first? A. Map B. Metes and bounds description C. Monument D. Plat book
B. Metes and bounds description
Elaine owns a home on a flag lot behind James. Her easement for a common driveway runs through James's property. What kind of ownership rights does Elaine have of the driveway that runs through James's property? A. Absolute B. Non-possessory C. Possessory D. Temporary
B. Non-possessory
In many areas of the country, Marcellus shale has become a hot commodity. This type of rock produces gas, which can be mined, stored, and sold. Abe learned that his family farmstead sat over a rich deposit of Marcellus shale. What type of rights does Abe have relative to this shale? A. Air rights B. Sub-surface rights C. Surface rights D. Water rights
B. Sub-surface rights
Along with property ownership, rights are granted to use the land's physical components. Which right allows a property owner to use or sell the underground resources, such as natural gas and minerals? A. Air B. Subsurface C. Surface D. Water
B. Subsurface
Which one of the following types of ownership termination allows each tenant to have a specific, divided portion (partition) of the property exclusively? A. Termination by division B. Termination of co-ownership by partition C. Termination of estate in severalty D. Termination of joint tenancies
B. Termination of co-ownership by partition
What happens after a foreclosure if there isn't enough money from the sale to pay off all of the lien holders against a property? A. All claims are void if there isn't enough money after the foreclosure sale of the property. B. The former owner may owe a debt to lien holders who aren't fully paid. C. The former owner's wages will be garnished for the remainder of what's owed. D. The lien holders must refile on the former owner's next property.
B. The former owner may owe a debt to lien holders who aren't fully paid.
Which of the following is an example of easement termination by merger? A. The dominant estate owner takes action that shows a clear intent to stop using the easement. B. The owner of a servient estate buys the property of the dominant estate. C. The owner of the dominant estate has an alternate route and no longer needs the easement. D. The owners of both estates decide not to use the easement.
B. The owner of a servient estate buys the property of the dominant estate.
Cheryl wants new carpeting for her rectangular dining room. Her dining room is five yards by 10 yards. How much carpeting does she need to buy to cover her entire dining room? A. 15 square yards B. 2 square yards C. 50 square yards D. 50 yards
C. 50 square yards
What is an encumbrance? A. A bad neighborhood B. A defect found during inspection C. A defect on a title that can be monetary or physical D. Anything that affects the marketability of a property
C. A defect on a title that can be monetary or physical
What's a bound? A. A line that runs east to west B. A line that runs north to south C. A physical feature that defines the boundaries of the land D.The direction and distance of a line forming the boundary of a property
C. A physical feature that defines the boundaries of the land
An easement is one type of encumbrance that can affect a property. Which of these statements about easements is true? A. An easement is a right acquired by one party to use the land of another party, usually for one day. B. An easement requires the property owner's express permission. C. Easements are often established by a written agreement between the parties. D. Easements must be removed before property can be transferred.
C. Easements are often established by a written agreement between the parties.
Sam decided to build a swimming pool in his yard. He built it one foot inside his neighbor's property. What is this an example of? A. Easement B. Eminent domain C. Encroachment D. Necessity
C. Encroachment
Elvin owns 150 acres of prime hunting land. Every year he has requests from private groups who would like to use his land for a day or two during hunting season. Some years he grants these requests, but this year he's decided to only use it personally and when with friends. Which right in the bundle of rights says that he can say no to these requests? A. Control B. Enjoyment C. Exclusion D. Possession
C. Exclusion
What form of ownership is inheritable and includes the entire bundle of rights, not subject to any conditions or qualifications? A. Fee entire B. Fee on condition C. Fee simple absolute D. Qualified fee
C. Fee simple absolute
Which of the following would be a description used for real property? A. Above-ground B. Free-standing C. In-ground D. Movable
C. In-ground
Stan and Emile are arguing over their shared lot line, since Stan thinks that Emile planted a privet hedge on Stan's property. Stan filed a civil legal action against Emile. What will the court use to determine the actual lot line? A. Aerial photographs B. Affidavit from surveyor C. Legal descriptions of both properties D. Testimony from long-time neighbors
C. Legal descriptions of both properties
Liam is a contractor who discloses his right to place a lien on the properties where he works in the event of non-payment. What type of lien is this? A. Income tax B. Judgement C. Mechanic's D. Mortgage
C. Mechanic's
When Shauna looked at the legal description of the property she was interested in purchasing, she read the following: "Beginning at the corner of State Route 61 and Hallowell Road, north for 314 feet, then southwest for 193 feet." In this description, what does "north for 314 feet" represent? A. Benchmark B. Bounds C. Metes D. Monuments
C. Metes
"Beginning at a stake and stones about 30 feet from the center of the brook that runs across the road Southwesterly from the dwelling house of the late Jebediah Smith ..." is an example of what type of legal description? A. Benchmark B. Lot and block C. Metes and bounds D. Rectangular
C. Metes and bounds
Ken, Dale, and James are brothers who own more than 100 acres as tenants in common. The relationship between Ken and James disintegrated, and so James initiated a lawsuit. The end result is that the court gave each brother a designated set of acres to own. What was granted by the court? A. Bifurcation B. Parcel C. Partition D. Severalty
C. Partition
Jacob is a developer who purchased 78 acres and had it subdivided into half-acre lots. He decided to install sewer and underground electric for the entire subdivision, because he thinks that he will easily recoup his initial infrastructure investment. This is an example of which economic characteristic of real property? A. Area preference B. Improvements C. Permanence D. Scarcity
C. Permanence
Sunshine Surveyors Inc. created a lot and block survey for a new residential development, Happy Acres. The first thing they did when they surveyed the new neighborhood was to reference a metes and bounds land description. From there, they divided the land into numbered lots and blocks. This output is known as a ________. A. Benchmark B. Monument C. Plat map D. Rectangular survey
C. Plat map
Which of the following is a key consideration and starting reference for a metes and bounds description? A. Base line B. Benchmark C. Point of beginning D. Principal meridian
C. Point of beginning
Rohit bought 31 acres of undeveloped and mostly forested land. He is planning a weekend with friends where they'll camp on the property while scouting good locations to place a cabin. Which right in the bundle of rights allows Rohit to do the camping weekend on undeveloped land? A. Disposition B. Exclusion C. Possession D. Power
C. Possession
Sandra and Dwight are neighbors who share a common driveway, but the driveway is on Dwight's property. What kind of ownership rights does Dwight have of the driveway? A. Absolute B. Non-possessory C. Possessory D. Temporary
C. Possessory
Which of the following is a legal term that can mean the right to take products out of the soil? A. Inheritance B. License C. Profit D. Reserve
C. Profit
An inheritable freehold estate that's a fee simple defeasible (where the grantor can reclaim ownership) is also known as ______. A. Fee absolute B. Fee simple C. Qualified fee D. Tenancy at will
C. Qualified fee
What's the definition of volume? A. A piece of land that lies next to the ocean B. The number of linear feet that the property has on the street C. The size of a three-dimensional shape D. The size of a two-dimensional shape
C. The size of a three-dimensional shape
When looking at a rectangular government survey system map, where would Section 36 be located? A. The exact center of the township B. The northeastern-most section of the township C. The southeastern-most section of the township D. The southwestern-most section of the township
C. The southeastern-most section of the township
Tim and Tina Wells bought a home with absolutely beautiful perennial gardens in the back. The plantings were designed to bring birds, bees, and butterflies and to provide color for most of the year. When they did the final walkthrough, they were dismayed to see that many of the shrubs and flowering plants had been removed. They expected these plantings to be considered part of the real property because of the ________. A. Adaptation to the land B. Agreement of the parties C. Intention in placing the item D. Method of annexation
D. Method of annexation
Licensee Dionne pointed out to her buyer client the items in the house she was showing that would be considered real property. One of the key determinants, she explained, was whether the item were ______. A. Internal or external to the house B. Made of the same material as an interior or exterior wall C. Over or under a certain value D. Permanently affixed to the property
D. Permanently affixed to the property
Which type of easement is acquired through years of use, with one person acquiring the permanent right to use another's property by doing so for an extended period of time? A. Easement appurtenant B. Easement by way of necessity C. Easement in gross D. Prescriptive easement
D. Prescriptive easement
Richard is interested in purchasing some rural land and included outbuildings. When reviewing the legal description, he sees the name of a principal meridian. What type of legal description is this? A. Lot and block B. Metes and bounds C. Monument and benchmark D. Rectangular government survey
D. Rectangular government survey
Which type of survey system is also known as the public land survey system (PLSS)? A. Address and zip code B. Lot and block C. Metes and bounds D. Rectangular government survey
D. Rectangular government survey
Benjamin is interested in a piece of property but is curious about its exact legal description. What's one of the best ways to find this information? A. Ask neighbors where the property boundaries are. B. Look for the point of beginning. C. Look up the latitude and longitude coordinates of the property on Google Maps. D. Reference a prior property deed.
D. Reference a prior property deed.
Kyle owns six acres of land with 400 feet of river frontage. He wants to build a beach along the river bank to make it easier to swim in the river. He can do this because as the owner of river frontage, he has ________ rights. A. Alluvial B. Erosion C. Littoral D. Riparian
D. Riparian
Ron's company leased a building so that they could build an escape room experience. After operating for two years, their attendance (and thus their profits) started to drop significantly, so they decided it was time to close the location. When they started taking down the installation, they realized that some of the structures they built will damage the walls if they try to remove them. Which of these is true about these trade fixtures.? A. If Ron leaves them in place and the lease expires, he has three months to remove them. B. Ron is required to leave the fixtures if they're attached. C. Ron is required to take the fixtures and return the premises to its original condition. D. Ron may take the fixtures as long as he repairs any damage caused by removal.
D. Ron may take the fixtures as long as he repairs any damage caused by removal.
Frank owns a property on which there is walkway to the beach shared by his neighbors on either side. What is Frank's property? A. Dominant estate B. Gross estate C. Prescriptive estate D. Servient estate
D. Servient estate
Which of the following units of measurement are used when determining the area? A. Cm3 B. Cubic feet C. Feet D. Square feet
D. Square feet
Brent and Kathy recently bought a property in a gated community. While doing some landscaping they noticed that their neighbor's shed seems to be over the lot line and on their property. What should they consult to determine if the shed is an encroachment? A. Deed B. HOA covenant C. Mortgage D. Survey
D. Survey
Eva, Stella, and Lynn own a vacation home two blocks from the beach. Sadly, Stella passed away this winter, and so when summer arrives Eva and Lynn will be sharing the home with Stella's nephew Drew, to whom Stella willed her share of the property. What type of ownership is this? A. Estate in severalty B. Joint tenancy C. Tenancy by the entirety D. Tenancy in common
D. Tenancy in common
What are the national requirements for measuring a dwelling's square footage? A. Measurement is required for any home valued at more than $500,000. B. Only a contractor/builder may measure it. C. Only the homeowner may measure it. D. There are no national requirements.
D. There are no national requirements
What's the relationship between townships and sections in the rectangular government survey system? A. Sections are divided into townships. B. Townships and sections are opposites. C. Townships and sections are synonyms. D. Townships are divided into sections.
D. Townships are divided into sections.
Which physical characteristic of land addresses the concept that land isn't interchangeable and one piece of land isn't exactly like another? A. Immobility B. Indestructibility C. Permanence of investment D. Uniqueness
D. Uniqueness
Hope's mortgage created a lien against the property she purchased with the mortgage. What kind of lien is this? A. General B. Special assessment C. Vendor's D. Voluntary
D. Voluntary
Commission
Total commission = sales price x commission rate
Interest rate
annual interest/loan balance
Annual interest
loan balance x interest rate
