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20 Cards in this Set

  • Front
  • Back
All of the following are separable ownerships in land EXCEPT:

A. surface of land
B. area below the surface
C. nonhomogeneity
D. air space above the land
C. nonhomogeneity
The characteristic of land that causes the real estate market to be essentially a local market is the physical characteristic of:

A. permanence
B. immobility
C. availability
D. natural features
B. immobility
The basis for the legal remedy of specific performance when dealing with land is its:

A. nonhomogenity
B. immobility
C. permanence
D. availability
A. nonhomogenity
All of the following have contributed to the increase in the supply of land EXCEPT:

A. increased utilization of the physical supply of land
B. modifications by improvements to the land
C. construction of condominiums
D. lack of demand for land
D. lack of demand for land
The quality of the location of land, and consequently the value of the land, can be changed by:

A. the principle of nonhomogenity
B. relocation of land
C. changes in the local trend of real estate business
D. improvements to the land resulting in accessibility
D. improvements to the land resulting in accessibility
The concept of the highest and best use does NOT:

A. include consideration of the physical and economic factors affecting land use
B. result in the greatest present value of the land
C. result in use in violation of present zoning
D. include consideration for the improvements or modifications to the land
C. result in use in violation of present zoning
Public land use controls exist in the form of:

A. restrictive covenants
B. zoning laws
C. deed restrictions
D. conditions in a platted subdivision
B. zoning laws
Specializations within the real estate business include:

A. transportation
B. farming
C. accounting
D. property management
D. property management
The type of land ownership that existed in colonial times was called feudal. The private ownership of land is called:

A. alliance
B. allodial
C. conservation
D. fundemental
B. allodial
The real estate market may be described by all of the following EXCEPT:

A. free market
B. local market
C. movable market
D. slow to react to changes in supply and demand
C. movable market
The function of a real estate licensee in dealings with buyers and sellers in the real estate market may be described as:

A. financier
B. counselor
C. contractor
D. adversary
B. counselor
The transfer of the land ownership from the state or federal government to a private party is called:

A. public grant
B. public dedication
C. feudal partition
D. allodial grant
A. public grant
The typical real estate licensee must have specialized knowledge in a variety of subjects that include all of the following EXCEPT:

A. financing
B. contracts
C. excavation
D. valuation
C. excavation
All of the following are real property EXCEPT:

A. surface of the earth
B. area below the surface
C. readily movable items
D. air space above the earth
C. readily movable items
Economic characteristics of real property include which of the following?

A. situs
B. immobility
C. permanence
D. nonhomogeneity
A. situs
Which of the following is an example of the private control of land use?

A. zoning
B. restrictive covenants
C. building codes
D. environmental controls
B. restrictive covenants
The term REALTOR is a registered trademark of:

A. National Association of REALTORS
B. Association of Real Estate License Law Officials
C. REALTORS International
D. National Association of Real Estate Brokers
A. National Association of REALTORS
Which of the following is a contract wherein a property owner employs a real estate broker to market the property?

A. assumption
B. contract for sale
C. consummation
D. listing
D. listing
The Code of Ethics and Standards of Practice of real estate was estatblished by:

A. NAR
B. ARELLO
C. NAREB
D. MAI
A. NAR
The predominantly African American real estate organization that uses the trade name Realtists is the:

A. National Association of Real Estate Brokers
B. Association of African American Real Estate Specialists
C. Association of Real Estate License Law Officials
D. NationalAssociation of Home Builders
A. National Association of Real Estate Brokers