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Real Estate

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Real Estate

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Sample practice questions

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1) Dakota, Jordan and Logan took title to a property as joint tenants. Dakota sold her share to Payton and then Jordan died. Who owns the property now?
  1. Logan owns 2/3 and Payton owns 1/3 as tenants in common
  2. B. Logan, Payton and Jordan's heirs own the property 1/3 each as joint tenants
  3. C. Logan owns 2/3 and Payton owns 1/3 as joint tenants
  4. D. Logan, Payton and Jordan's heirs own the property 1/3 each as tenants in common
2) A broker who knowingly makes a statement he or she knows is false at the time, or who fails to disclose material facts, is guilty of:
  1. innocent misrepresentation
  2. B. negligent misrepresentation
  3. C. fraudulent misrepresentation
  4. D. all of the above
3) An agreement that is made either verbally or in writing is known as a(n):
  1. press contract
  2. B. mutual consent
  3. C. implied contract
  4. D. all of the above
4) A judgment is best described as a(n):
  1. voluntary lien
  2. B. general lien
  3. C. specific lien
  4. D. attachment lien
5) Time, title, interest and possession are the four essential unites of a:
  1. Tenancy in common
  2. B. Joint tenancy
  3. C. Partnership
  4. D. Corporation
6) Compensation made by the payment of money or the return of property, thus clearing a lien from the record, is known as:
  1. stract of title
  2. B. satisfaction of judgment
  3. C. judgment compensation
  4. D. dismissal of attachment
7) If Bob places improvements and permanent fixtures on property that he does not own, Bob has created a(n):
  1. verse possession
  2. B. encroachment
  3. C. avulsion
  4. D. hostile occupancy
8) A notice of a pending lawsuit that clouds title is called a(n):
  1. lis pendens
  2. B. writ of execution
  3. C. injunction
  4. D. non of the above
9) Appurtenant means the ownership of the item:
  1. is personal
  2. B. is movable
  3. C. is a crop
  4. D. runs with the land
10) An encumbrance:
  1. Burdens the property
  2. B. Is always a lien
  3. C. Cannot affect the physical use of a property
  4. D. All of the above
11) A salesperson employed by a listing broker is an agent of:
  1. the buyer
  2. B. the owner/seller
  3. C. the lender
  4. D. the courts
12) Of the following, which is not one of the five general test for a fixture?
  1. Method of attachment
  2. B. Time of attachment
  3. C. Adaptability of the item
  4. D. Intention of the parties
13) A real estate auction where the property must be sold to the highest bidder, no matter how low the final bid, is called a(n):
  1. no-sale auction
  2. B. illusory auction
  3. C. bidders market auction
  4. D. absolute auction
14) The rights and interests a person has in a thing owned is:
  1. Wealth
  2. B. Property
  3. C. Debt
  4. D. None of the above
15) Of the following, which is NOT true of a grant deed?
  1. It is used primarily to clear a "cloud on title" from the records
  2. B. It warranties that the owner has not conveyed title to any other person
  3. C. It warranties that the property being conveyed is free from any undisclosed encumbrances
  4. D. It conveys any "after-acquired" title
16) Which type of will, unless signed with an "X", requires NO witnesses?
  1. Living trust
  2. B. Statutory
  3. C. Holographic
  4. D. All of the above
17) A signed written contract takes precedence over oral agreements or prior written agreements based on:
  1. the performance rule
  2. B. English common law
  3. C. the statue of frauds
  4. D. the parol evidence rule
18) Through the process of escheat, the deceased's property passes to:
  1. His or her heirs
  2. B. His or her creditors
  3. C. The state
  4. D. The local county.
19) In a Transfer Disclosure Statement, both the buyer's and seller's brokers must conduct what type of property inspection?
  1. Reasonably competent
  2. B. Diligent
  3. C. Visual
  4. D. All of the above
20) Which of the following is considered personal property?
  1. An easement
  2. B. Mineral rights
  3. C. Trees growing in a forest
  4. D. An existing mortgage
21) Listing broker A negotiates the sale of C's property with the cooperation of broker B. The brokers agree to a 50/50 split of the $10,000 commission. each broker has a salesperson who will receive 25% of their broker's commission. How much will each salesperson receive?
  1. $5,000
  2. B. $2,500
  3. C. $2,250
  4. D. $1,250
22) In a real estate transaction, the grantor is the:
  1. Buyer
  2. B. Seller
  3. C. Renter
  4. D. Lender
23) A Transfer Disclosure Statement is required for the sale of:
  1. y commercial property
  2. B. any residential property
  3. C. residential property consisting of 1-to-4 units
  4. D. multi-unit commercial property only
24) Which of the following is NOT a method of creating real property ?
  1. Bolt it down
  2. B. Cement it down
  3. C. Plug it in
  4. D. Nail it down
25) A written instrument that conveys and evidences title is called a(n):
  1. Will
  2. B. Deed
  3. C. Transfer
  4. D. Implied warranty
26) Which of the following is considered personal property?
  1. Mineral rights
  2. B. Leasehold estates
  3. C. All improvements to land
  4. D. Trees growing in a natural forest
27) In order to receive a commission, the broker must find a buyer who is:
  1. ready
  2. B. willing
  3. C. able
  4. D. all of the above
28) A voluntary lien placed over more than one parcel is known as a(n):
  1. l-inclusive encumbrance
  2. B. subdivision encumbrance
  3. C. blanket encumbrance
  4. D. Multi-parcel encumbrance
29) Local improvements, like street lights and sewers, are paid for by property owners through:
  1. tax liens
  2. B. Injunctions
  3. C. special assessments
  4. D. All of the above
30) The term "company dollar" refers to the company:
  1. vertising budget
  2. B. money required to run an office
  3. C. income after paying salespersons' commissions
  4. D. income before paying salespersons' commissions
31) Which of the following statements is FALSE?
  1. A trust deed is an instrument used to transfer personal property
  2. B. A gifted is an instrument granting a gift out of love and affection
  3. C. A tax deed is the deed given to the buyer when a property is sold for past-due property taxes
  4. D. A sheriff's deed is the deed given to the purchaser at a court required sale
32) Easements are always:
  1. Non-money encumbrances
  2. B. Encroachments
  3. C. Specific liens
  4. D. Estates
33) Real property is best described as:
  1. Moveable
  2. B. Anything of value
  3. C. Things we own
  4. D. Immovable
34) An uncle left his nephew 2/3 interest and left his nephew's wife 1/3 interest in real property jointly and without the right of survivorship. They will assume title to an estate that is classified as:
  1. Community property
  2. B. Joint tenancy
  3. C. Tenancy in common
  4. D. Partnership
35) A licensee is required to tell the parties involved whom he or she represents:
  1. soon as possible
  2. B. after the loan is funded
  3. C. after the escrow instructions are filed
  4. D. after the offer has been accepted
36) The United States Government Survey System has to do with:
  1. Metes and bounds
  2. B. Zoning, taxing, polling
  3. C. Sections and townships
  4. D. Lots, blocks and tracts
37) A Utility company obtains an easement in gross to run power lines over your property. As a result, your property would become a:
  1. Dominant tenement.
  2. B. Servient tenement.
  3. C. Tenement appurtenant
  4. D. None of the above.
38) Which system may be used for legal description purposes?
  1. U.S. Government survey
  2. B. Metes and bounds
  3. C. Lot, block and tract
  4. D. All of the above
39) Someone using another person's land continuously, without paying any property taxes, might qualify to obtain an easement, or legal right to use the land, according to:
  1. Accession
  2. B. Prescription.
  3. C. Adverse possession
  4. D. Murphy's Law
40) Personal property that is permanently affixed to real property is called:
  1. Appurtenant
  2. B. Encroaching
  3. C. Trespassing
  4. D. A fixture
41) A township contains:
  1. One square mile
  2. B. Six square miles
  3. C. 36 square miles
  4. D. 106 square miles
42) A farm 6 miles square has how many townships?
  1. 1
  2. B. 6
  3. C. 36
  4. D. 72
43) A copy of the listing agreement must be given to the signing party:
  1. within 3 days of being signed
  2. B. at the discretion of the listing broker
  3. C. before the escrow is opened
  4. D. immediately after it is signed
44) Approximately how many acres are there in a lot 1/2 mile by 1/2 mile?
  1. 80
  2. B. 160
  3. C. 320
  4. D. 5,280
45) An agreement for the sale of community real property made by one spouse only is considered:
  1. Valid
  2. B. Illegal
  3. C. Enforceable
  4. D. Unenforceable
46) A remedy for breach can be:
  1. nilateral rescission
  2. B. an action for damages
  3. C. an acceptance of breach
  4. D. all of the above
47) Consideration can be best described as:
  1. money paid in a contract
  2. B. good will
  3. C. anything of value
  4. D. not necessary in a valid contract
48) With the exception of the mortgage disclosure form, which must be kept longer, transaction files of all the important broker and salesperson documents concerning a property must be kept for how long?
  1. One year
  2. B. Two years
  3. C. Three years
  4. D. There is no time requirement
49) A special power of attorney allows the authorized person to:
  1. transact all of the principal's business
  2. B. transact one specific act (sell your house)
  3. C. maintain a trust account for the principal
  4. D. none of the above
50) A deed does not take effect until it is:
  1. Signed
  2. B. Delivered and accepted
  3. C. Notorized
  4. D. All of the above
51) Which of the following restrictions is illegal and unenforceable?
  1. Building size
  2. B. Zoning
  3. C. Rent control
  4. D. Race
52) In a technical sense, the term property refers to:
  1. Rights or interest in the thing owned
  2. B. A freehold estate
  3. C. Personal property only
  4. D. Land and buildings only
53) Which of the following is the smallest?
  1. Two sections
  2. B. Ten percent of a township
  3. C. 4 square miles
  4. D. 4 miles squared
54) Once recorded, a judgment is good for:
  1. ears
  2. B. 5 years
  3. C. 10 years
  4. D. 15 years
55) With a life estate, the ownership interest is limited to the:
  1. Economic life of the property
  2. B. Life of the grantor.
  3. C. Life of any designated person or persons.
  4. D. Any of the above.
56) When an existing contract is replaced with an entirely new contract, it is called:
  1. recission
  2. B. assignment
  3. C. novation
  4. D. subordination
57) The words "time, title, interest, and possession" are most likely related to which of the following concepts?
  1. Severalty
  2. B. Survivorship
  3. C. Sole ownership
  4. D. Adverse possession
58) Which of the following is an encumbrance that affects the physical use of real property?
  1. An easement
  2. B. A building restriction
  3. C. An encroachment
  4. D. All of the above
59) In what type of listing is the broker competing with the owner?
  1. Net listing
  2. B. Exclusive right to sell listing
  3. C. Open listing
  4. D. Exclusive agency listing
60) Which of the following is NOT a remedy for breach of contract?
  1. Unilateral rescission
  2. B. Specific performance
  3. C. Action for dollar damages
  4. D. Substitute performance
61) Which of the following is considered apurtenant to land?
  1. Something acquired by legal right and used with the land for its benefit
  2. B. A right of way over another's adjoining land
  3. C. Stock in a mutual water company
  4. D. All of the above
62) A lien (money owed) on real property makes the property:
  1. Leased
  2. B. An easement
  3. C. Alienated
  4. D. Encumbered
63) When a real estate salesperson mixes his/her personal funds with the deposit of a client, it's called:
  1. mmingling
  2. B. commission
  3. C. secret profit
  4. D. implied
64) The best term to describe the relationship between the broker and the principal is:
  1. strustful
  2. B. fiduciary
  3. C. nurturing
  4. D. implied
65) Which of the following is NOT considered a basic element of any contract?
  1. Enforcement
  2. B. Mutual consent
  3. C. Capacity
  4. D. Consideration
66) Of the following, which most nearly means the same thing as "rescind"?
  1. Arrest
  2. B. Reword
  3. C. Terminate
  4. D. Fulfill
67) A "bill of sale" transfers title to:
  1. Real property
  2. B. Heirs
  3. C. Immovable items
  4. D. Personal property
68) A property owner living on a river bank acquires land due to the shifting of the river. This process is called:
  1. Succession
  2. B. Accretion
  3. C. Encroachment
  4. D. None of the above
69) The best way to create an agency relationship is:
  1. written agreement
  2. B. by handshake
  3. C. by using the MLS service
  4. D. by creating a dual agency
70) "Of indefinite duration" is a phrase that describes a(n):
  1. Estate for years
  2. B. Estate from period to period
  3. C. Estate of inheritance
  4. D. Less than freehold estate
71) The right to use a property for a specific period of time describes a:
  1. Life estate
  2. B. Less-than-freehold estate
  3. C. Freehold estate
  4. D. All the above
72) What is always true about a counter offer?
  1. It is made by the buyer
  2. B. It is made by the seller
  3. C. It terminates the previous offer
  4. D. The previous offer is still valid
73) How many sections are in a township?
  1. 640
  2. B. 36
  3. C. 320
  4. D. 6
74) Ranges are 6-mile increments measured (and described) from the north - south meridian running:
  1. East
  2. B. East and west
  3. C. West
  4. D. North and south
75) An assignment:
  1. is only for personal service
  2. B. transfers only liability
  3. C. is a new contract
  4. D. transfers a person's right in a contract
76) A section consists of how many acres?
  1. 460
  2. B. 320
  3. C. 640
  4. D. 230
77) Which of the following is a document conveying title with NO warranties, expressed or implied?
  1. Grant deed
  2. B. Quitclaim deed
  3. C. Holographic will
  4. D. All of the above
78) If one of the parties doesn't go through with the contract (nonperformance), it is called a(n):
  1. signment
  2. B. breach
  3. C. consideration
  4. D. operation of law
79) Any contract that can't be performed within one year from the date of signing:
  1. is illegal
  2. B. must be in writing
  3. C. is a failure to perform
  4. D. is an example of duress
80) Which of the following real estate terms best describes mortgages and trust deeds?
  1. Promissory notes
  2. B. Security devices
  3. C. Involuntary liens
  4. D. General liens
81) If Jones conveys to Ford a portion of Jones' fee estate for a term less than his own, Jones' own interest would be classified as a:
  1. Remainder
  2. B. Reversion
  3. C. Vested sufferance
  4. D. Fee defeasible
82) Which of the following is considered real property?
  1. Timber
  2. B. Airspace above the land
  3. C. Crops under a prior sales contract
  4. D. Landfield soil being hauled
83) Which of the following is FALSE concerning purchase agreement contracts?
  1. They must be accompanied by a deposit of money or other items of value
  2. B. When acceptance is communicated to the buyer, it becomes a binding contract
  3. C. An agent must give a copy to both buyer and sellers
  4. D. Promissory notes and post-dated checks are never acceptable as consideration
84) A running stream is considered:
  1. Personal property
  2. B. Real property
  3. C. A fixture
  4. D. A chattle
85) Which of the following is used to change the original terms of the purchase agreement?
  1. Covenant form
  2. B. Contingency form
  3. C. Counter offer form
  4. D. Substitution form
86) Which of the following is FALSE concerning options?
  1. They can be revoked at any time by the optioner (seller), without penalty
  2. B. They have specific terms
  3. C. They have specific time periods
  4. D. They are granted in exchange for money
87) Which of the following statements concerning riparian rights is not correct?
  1. A riparian owner may convey any part of his or her land that is not immediately adjacent to the river
  2. B. If a riparian owner conveys part of his or her land that is not immediately adjacent to the river, riparian rights are not conveyed with that property
  3. C. Riparian rights may not be severed from the property by prescription or condemnation
  4. D. The owner of adjacent land may not lawfully divert all available water and thereby deprive a riparian owner of water
88) An easement that does NOT specify a special area for a right-of-way is known as a(n):
  1. sement in gross
  2. B. vague easement
  3. C. unlocated easement
  4. D. partial easement
89) What differentiates an estate for years from an estate from Period-to-Period is that an estate for years:
  1. Is a renewable agreement
  2. B. Is for a fixed period of time
  3. C. Can be terminated at any time
  4. S. Is from year-to-year
90) Which of the following is FALSE concerning real estate commissions?
  1. Commissions are negotiable
  2. B. A real estate license is required to receive a commission for conducting a real estate transaction
  3. C. A salesperson receives compensation (his or her commission) directly from the principal
  4. D. All of the above
91) A written notice that should be given within 20 days of supply labor or services, and before filing a mechanic's lien, is known as a:
  1. Notice of nonresponsibility
  2. Preliminary notice
  3. Mechanic's notice
  4. Construction notice
92) It is often difficult to determine ownership rights of personal property because personal property can:
  1. Become real property
  2. B. Be hypothecated
  3. C. Be alienated
  4. D. All of the above
93) The term "bill of sale" is most commonly associated with:
  1. Real property
  2. B. Immovable property
  3. C. Personal property
  4. D. Deed transfer
94) What distinguishes a will from other types of property transfers?
  1. It allows for the transfer of more property
  2. B. It creates a present interest in property
  3. C. It only becomes effective at death
  4. D. None of the above.
95) Which of the following is a classification of a contract?
  1. Valid
  2. B. Unenforceable
  3. C. Voidable
  4. D. All of the above
96) Property acquired by a husband and wife during marriage and is split 50/50 is called:
  1. Community property
  2. B. Joint tenancy property
  3. C. Tenancy in common
  4. S. All of the above
97) Ownership in severalty would most likely involve:
  1. A fee simple defeasible estate
  2. B. Tenancy in common
  3. C. Ownership with other parties
  4. D. Sole ownership
98) Trade fixtures are:
  1. Removable
  2. B. Forms of business furniture
  3. C. Personal property
  4. D. All of the above
99) A broker tries to sell a listed property through his or her own company's agents before giving it to an MLS. this is called a:
  1. secret profit
  2. B. subagency
  3. C. multiple deception
  4. D. pocket listing
100) One acre equals:
  1. 43,560 square feet
  2. B. 4,840 square yards
  3. C. Neither a nor b
  4. D. Either a or b
101) In California, what is the usual method of forcing someone to sell property to pay off a judgment?
  1. Attachment sale
  2. B. Sheriff's sale
  3. C. Lis pendens sale
  4. D. Condemnation sale
102) A provision in a contract stating the purchase depends on the buyer qualifying for a loan is called a:
  1. loan back-out clause
  2. B. covenant
  3. C. "subject to" provision or contingency clause
  4. D. all of the above
103) Grantor C conveys a large house and land to his daughter and son-in-law to be theirs as long as they are married. One year later their divorced. What happens to the property?
  1. The daughter acquires it
  2. B. The son-in-law acquires it
  3. C. It reverts back to C
  4. D. The couple must sell it
104) Which of the following is not a lien?
  1. Trust deeds
  2. B. Mechanic's lien
  3. C. Easements
  4. D. Taxes and special assessments
105) When you authorize a broker to have acted for you after he or she has already done so, it's known as:
  1. toppel
  2. B. confirmation
  3. C. ratification
  4. D. all of the above
106) Concerning real property, a joint tenancy interest and a community property interest are alike in which of the following ways?
  1. Ownership interests are equal
  2. B. Only a husband and wife are involved
  3. C. Both owners must join in any conveyance
  4. D. Both provide the right of survivorship
107) Which of the following is a less than freehold estate?
  1. Life estate
  2. B. Estate of inheritance
  3. C. Estate for years
  4. D. Estate in remainder
108) In order for a broker to collect a commission, without going to court, a listing agreement:
  1. must be recorded
  2. B. must be notarized
  3. C. must be in writing
  4. D. must have an expiration date
109) Emblements are usually:
  1. owing crops
  2. B. Cultivating annually
  3. C. On leased land by tenant Farmers
  4. D. All of the above
110) If a contract is said to be "executory," it:
  1. is court ordered
  2. B. has not yet been performed
  3. C. has been discharged or performed
  4. D. has not yet been signed
111) What type of ownership has definite rights of survivorship?
  1. Joint tenancy
  2. B. Tenancy in common
  3. C. Severalty
  4. D. All of the above
112) When determining the starting time for a mechanic's lien, it is in important to know when the work began, known as the:
  1. start-stop period
  2. B. scheme of improvements
  3. C. waiting period
  4. D. period of improvement
113) Which of the folding is not a test to determine whether an own is a fixture?
  1. Relationship of the parties
  2. B. Method of attachment
  3. C. Value of the item
  4. D. Intent of the parties
114) A written contract between two parties is:
  1. press and unilateral
  2. B. implied and bilateral
  3. C. express and bilateral
  4. D. implied and unilateral
115) A woman CANNOT received title to real property by:
  1. A gift deed
  2. B. A patent
  3. C. Adverse possession
  4. D. Escheat
116) Which of the following is considered real property?
  1. A bearing wall in a single family residence
  2. B. A maturing grape crop that will be harvested later and is governed by a sales contract
  3. C. Trade fixtures installed by tenant that are removable without damage
  4. D. A built-in refrigerator and a mobile home that is not attached to a permanent foundation
117) In California a notice to vacate an "estate at will" (rental agreement) requires how many days notice?
  1. 15
  2. B. 1
  3. C. 29
  4. D. 30
118) The current award for liquidated damages on a purchase agreement form is a maximum of:
  1. 3% of the home purchase price
  2. B. 13% of the home purchase price
  3. C. 33% of the home purchase price
  4. D. 133% of the home purchase price

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