Real Estate Exam 01

Front 1

The owner of land owns riparian rights to water on, under or adjacent to the land in which of the following

Back 1

Streams, rivers, watercourse

Front 2

Amber owns a life estate based upon his own life the leases the property john on a five year leases later amber dies john is still on the lease

Back 2

The lease is terminated immediately

Front 3

Which of the following is on example of freehold estate

Back 3

a life estate

Front 4

Anderson sold a property which adjoined his home to Mark and reserved an easement then Anderson gone for 21 years when John comes back to use the easement his affected to Mark what will happen to Anderson

Back 4

the easement is still valid because easement is Anderson's reversion

Front 5

When owner of a parcel of land granted an easement to local telephone company to telephone poles across his land: This would happen an

Back 5

Encumbrance

Front 6

For more than 3 generations the X family has owned the right to operate a gold mine on land which belonged to a neighbor which is assigned by Federal when new owner owned this property immediately fences property and make a new gate (padlocked) to the entrance what would the X family do?

Back 6

file a quiet title action in court

Front 7

What is "primary, special tool" used by planning commission to implement a general plan?

Back 7

Zoning

Front 8

A "negative declaration" in a discussion of environmental impact means that the proposal subdivision

Back 8

will have insignificant effect upon the environment and the developer will not have to pay for a full environment impact report

Front 9

The alquist Earthquake special studies zone Ad applies to

Back 9

all sates with earthquake activity

Front 10

Which of the following would have the least impact on property taxes

Back 10

A recorded homestead

Front 11

Which of the following is true regarding the depreciation of land under federal income tax law

Back 11

land can not be depreciated under federal income tax law

Front 12

Which of the following would be subject to property taxes, accept

Back 12

intangible personal property

Front 13

When the highest and best use of a property is expected to change, the current use is called

Back 13

the interim use

Front 14

when a high rate percentage owner occupied residential property it tends

Back 14

stabilize values because owner takes care of their property better than rental property

Front 15

Which of the following is the most difficult for an appraiser is trying to determine the value of commercial property by principle of economic obsolescence

Back 15

Are the tenants in the neighborhood prospering: Economic obsolescence refers to things happening in the neighborhood such as tenants doing poorly

Front 16

When using appraisal method, they can use met income and value of the property: This process is

Back 16

Capitalization
Capitalization=net of operating income selling, purchaseing price or value of property

Front 17

a loan secured by real property usually is one of the following

Back 17

promissory note and a trust deed

Front 18

A lender may also be called a

Back 18

beneficiary

Front 19

When a lender in a trust deed in lien of foreclosure except only becomes the owner of the property

Back 19

Beneficiary

Front 20

when a lender is in lien of foreclosure, who signs (executes) the title of property to a lender by quick claim deed

Back 20

Trustor