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118 Cards in this Set

  • Front
  • Back

In a technical sense, the term property refers to:


A. Rights or interest in the thing owned.


B. A freehold estate.


C. Personal property only.


D. Land and buildings only.

A. Rights or interest in the thing owned.

It is often difficult to determine ownership rights of personal property because personal property can:


A. Become real property.


B. Be hypothecated.


C. Be alienated.


D. All of the above.

D. All of the above.

Which of the following is considered real property?


A. Timber.


B. Airspace above the land.


C. Crops under a prior sales contract.


D. Landfield soil being hauled.

B. Airspace above the land.

Which of the following is considered personal property?


A. Mineral rights.


B. Leasehold estates.


C. All improvements to land.


D. Trees growing in a natural forest.

B. Leasehold estates.

A running stream is considered:


A. Personal property.


B. Real property.


C. A fixture.


D. A chattle.

B. Real property

Which of the following is considered personal property?


A. An easement.


B. Mineral rights.


C. Trees growing in a forest.


D. An existing mortgage.

D. An existing mortgage.

Which of the following is considered apurtenant to land?


A. Something acquired by legal right and used with the land for its benefit.


B. A right of way over another's adjoining land.


C. Stock in a mutual water company.


D. All of the above.

D. All of the above.

Of the following, which is not one of the five general test for a fixture?


A. Method of attachment.


B. Time of attachment.


C. Adaptability of the item.


D. Intention of the parties.

B. Time of attachment.

Which of the following is considered real property?


A. A bearing wall in a single family residence.


B. A maturing grape crop that will be harvested later and is governed by a sales contract.


C. Trade fixtures installed by tenant that are removable without damage.


D. A built-in refrigerator and a mobile home that is not attached to a permanent foundation.

A. A bearing wall in a single family residence

"Of indefinite duration" is a phrase that describes a(n):


A. Estate for years.


B. Estate from period to period.


C. Estate of inheritance.


D. Less than freehold estate.

C. Estate of inheritance.

Which of the following is a less than freehold estate?


A. Life estate


B. Estate of inheritance


C. Estate for years


D. Estate in remainder

C. Estate for years

Ownership in severalty would most likely involve:


A. A fee simple defeasible estate.


B. Tenancy in common.


C. Ownership with other parties.


D. Sole ownership.

D. Sole ownership.

The words "time, title, interest, and possession" are most likely related to which of the following concepts?


A. Severalty


B. Survivorship


C. Sole ownership


D. Adverse possession

B. Survivorship

Concerning real property, a joint tenancy interest and a community property interest are alike in which of the following ways?


A. Ownership interests are equal


B. Only a husband and wife are involved


C. Both owners must join in any conveyance


D. Both provide the right of survivorship

A. Ownership interests are equal

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?


A. Logan owns 2/3 and Payton owns 1/3 as tenants in common.


B. Logan, Payton and Jordan's heirs own the property 1/3 each as joint tenants.


C. Logan owns 2/3 and Payton owns 1/3 as joint tenants.


D. Logan, Payton and Jordan's heirs own the property 1/3 each as tenants in common.

A. Logan owns 2/3 and Payton owns 1/3 as tenants in common.

An agreement for the sale of community real property made by one spouse only is considered:


A. Valid


B. Illegal


C. Enforceable


D. Unenforceable

D. Unenforceable

Which of the following statements concerning riparian rights is not correct?


A. A riparian owner may convey any part of his or her land that is not immediately adjacent to the river.


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.


C. Riparian rights may not be severed from the property by prescription or condemnation.


D. The owner of adjacent land may not lawfully divert all available water and thereby deprive a riparian owner of water.

C. Riparian rights may not be severed from the property by prescription or condemnation.

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:


A. Remainder


B. Reversion


C. Vested sufferance


D. Fee defeasible

B. Reversion

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:


A. Community property


B. Joint tenancy


C. Tenancy in common


D. Partnership

C. Tenancy in common

The rights and interests a person has in a thing owned is:


A. Wealth


B. Property


C. Debt


D. None of the above

B. Property

One acre equals:


A. 43,560 square feet


B. 4,840 square yards


C. Neither a nor b


D. Either a or b

D. Either a or b

Which of the folding is not a test to determine whether an own is a fixture?


A. Relationship of the parties


B. Method of attachment


C. Value of the item


D. Intent of the parties

C. Value of the item

Appurtenant means the ownership of the item:


A. is personal


B. is movable


C. is a crop


D. runs with the land

D. runs with the land

How many sections are in a township?


A. 640


B. 36


C. 320


D. 6

B. 36

Emblements are usually:


A. growing crops


B. Cultivating annually


C. On leased land by tenant Farmers


D. All of the above

D. All of the above.

A section consists of how many acres?


A. 460


B. 320


C. 640


D. 230

C. 640

A "bill of sale" transfers title to:


A. Real property


B. Heirs


C. Immovable items


D. Personal property

D. Personal property

The term "bill of sale" is most commonly associated with:


A. Real property


B. Immovable property


C. Personal property


D. Deed transfer

C. Personal property

A farm 6 miles square has how many townships?


A. 1


B. 6


C. 36


D. 72

A. 1

Personal property that is permanently affixed to real property is called:


A. Appurtenant


B. Encroaching


C. Trespassing


D. A fixture

D. A fixture

Which of the following is the smallest?


A. Two sections


B. Ten percent of a township


C. 4 square miles


D. 4 miles squared

A. Two sections

A township contains:


A. One square mile


B. Six square miles


C. 36 square miles


D. 106 square miles

C. 36 square miles

Real property is best described as:


A. Moveable


B. Anything of value


C. Things we own


D. Immovable

D. Immovable

The United States Government Survey System has to do with:


A. Metes and bounds


B. Zoning, taxing, polling


C. Sections and townships


D. Lots, blocks and tracts

C. Sections and townships

Ranges are 6-mile increments measured (and described) from the north - south meridian running:


A. East


B. East and west


C. West


D. North and south

D. North and south

Approximately how many acres are there in a lot 1/2 mile by 1/2 mile?


A. 80


B. 160


C. 320


D. 5,280

B. 160

Trade fixtures are:


A. Removable


B. Forms of business furniture


C. Personal property


D. All of the above

D. All of the above

Which of the following is NOT a method of creating real property ?


A. Bolt it down


B. Cement it down


C. Plug it in


D. Nail it down

C. Plug it in

Which system may be used for legal description purposes?


A. U.S. Government survey


B. Metes and bounds


C. Lot, block and tract


D. All of the above

D. All of the above

What type of ownership has definite rights of survivorship?


A. Joint tenancy


B. Tenancy in common


C. Severalty


D. All of the above

A. Joint tenancy

What differentiates an estate for years from an estate from Period-to-Period is that an estate for years:


A. Is a renewable agreement.


B. Is for a fixed period of time.


C. Can be terminated at any time.


S. Is from year-to-year.

B. Is for a fixed period of time.

A written instrument that conveys and evidences title is called a(n):


A. Will.


B. Deed.


C. Transfer.


D. Implied warranty.

B. Deed.

With a life estate, the ownership interest is limited to the:


A. Economic life of the property.


B. Life of the grantor.


C. Life of any designated person or persons.


D. Any of the above.

C. Life of any designated person or persons.

What distinguishes a will from other types of property transfers?


A. It allows for the transfer of more property


B. It creates a present interest in property


C. It only becomes effective at death


D. None of the above.

C. It only becomes effective at death

Which of the following is a document conveying title with NO warranties, expressed or implied?


A. Grant deed.


B. Quitclaim deed.


C. Holographic will.


D. All of the above.

B. Quitclaim deed.

Property acquired by a husband and wife during marriage and is split 50/50 is called:


A. Community property


B. Joint tenancy property


C. Tenancy in common


S. All of the above

A. Community property

Which of the following statements is FALSE?


A. A trust deed is an instrument used to transfer personal property.


B. A gifted is an instrument granting a gift out of love and affection.


C. A tax deed is the deed given to the buyer when a property is sold for past-due property taxes.


D. A sheriff's deed is the deed given to the purchaser at a court required sale.

A. A trust deed is an instrument used to transfer personal property.

A property owner living on a river bank acquires land due to the shifting of the river. This process is called:


A. Succession


B. Accretion


C. Encroachment


D. None of the above

B. Accretion

In a real estate transaction, the grantor is the:


A. Buyer


B. Seller.


C. Renter.


D. Lender.

B. Seller

Which type of will, unless signed with an "X", requires NO witnesses?


A. Living trust


B. Statutory


C. Holographic


D. All of the above

C. Holographic

Through the process of escheat, the deceased's property passes to:


A. His or her heirs.


B. His or her creditors.


C. The state.


D. The local county.

C. The state.

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:


A. Accession.


B. Prescription.


C. Adverse possession.


D. Murphy's Law.

B. Prescription.

Time, title, interest and possession are the four essential unites of a:


A. Tenancy in common.


B. Joint tenancy.


C. Partnership.


D. Corporation

B. Joint tenancy.

A deed does not take effect until it is:


A. Signed


B. Delivered and accepted.


C. Notorized.


D. All of the above.

B. Delivered and accepted.

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?


A. The daughter acquires it


B. The son-in-law acquires it


C. It reverts back to C


D. The couple must sell it

C. It reverts back to C.

Of the following, which is NOT true of a grant deed?


A. It is used primarily to clear a "cloud on title" from the records.


B. It warranties that the owner has not conveyed title to any other person.


C. It warranties that the property being conveyed is free from any undisclosed encumbrances.


D. It conveys any "after-acquired" title.

A. It is used primarily to clear a "cloud on title" from the records.

In California a notice to vacate an "estate at will" (rental agreement) requires how many days notice?


A. 15


B. 1


C. 29


D. 30

D. 30

The right to use a property for a specific period of time describes a:


A. Life estate


B. Less-than-freehold estate


C. Freehold estate


D. All the above

B. Less-than-freehold estate

A woman CANNOT received title to real property by:


A. A gift deed


B. A patent


C. Adverse possession


D. Escheat

D. Escheat

An encumbrance:


A. Burdens the property.


B. Is always a lien.


C. Cannot affect the physical use of a property.


D. All of the above.

A. Burdens the property.

A lien (money owed) on real property makes the property:


A. Leased.


B. An easement


C. Alienated


D. Encumbered.

D. Encumbered

A Utility company obtains an easement in gross to run power lines over your property. As a result, your property would become a:


A. Dominant tenement.


B. Servient tenement.


C. Tenement appurtenant.


D. None of the above.

B. Servient tenement.

Which of the following is not a lien?


A. Trust deeds


B. Mechanic's lien


C. Easements


D. Taxes and special assessments

C. Easements

Which of the following is an encumbrance that affects the physical use of real property?


A. An easement


B. A building restriction


C. An encroachment


D. All of the above

D. All of the above.

In California, what is the usual method of forcing someone to sell property to pay off a judgment?


A. Attachment sale


B. Sheriff's sale


C. Lis pendens sale


D. Condemnation sale

B. Sheriff's sale

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:


A. Notice of nonresponsibility.


B. Preliminary notice.


C. Mechanic's notice.


D. Construction notice.

B. Preliminary notice.

Which of the following restrictions is illegal and unenforceable?


A. Building size


B. Zoning


C. Rent control


D. Race

D. Race

Which of the following real estate terms best describes mortgages and trust deeds?


A. Promissory notes


B. Security devices


C. Involuntary liens


D. General liens

B. Security devices

A voluntary lien placed over more than one parcel is known as a(n):


A. all-inclusive encumbrance.


B. subdivision encumbrance.


C. blanket encumbrance.


D. Multi-parcel encumbrance.

C. blanket encumbrance

When determining the starting time for a mechanic's lien, it is in important to know when the work began, known as the:


A. start-stop period.


B. scheme of improvements.


C. waiting period.


D. period of improvement.

B. scheme of improvements

A judgment is best described as a(n):


A. voluntary lien.


B. general lien.


C. specific lien.


D. attachment lien.

B. General lien.

Once recorded, a judgment is good for:


A. 3 years.


B. 5 years.


C. 10 years.


D. 15 years.

C. 10 years.

If Bob places improvements and permanent fixtures on property that he does not own, Bob has created a(n):


A. adverse possession.


B. encroachment.


C. avulsion.


D. hostile occupancy.

B. encroachment.

Compensation made by the payment of money or the return of property, thus clearing a lien from the record, is known as:


A. abstract of title.


B. satisfaction of judgement.


C. judgment compensation.


D. dismissal of attachment.

B. satisfaction of judgement.

A notice of a pending lawsuit that clouds title is called a(n):


A. lis pendens.


B. writ of execution.


C. injunction.


D. non of the above.

A. lis pendens

Local improvements, like street lights and sewers, are paid for by property owners through:


A. tax liens.


B. Injunctions.


C. special assessments.


D. All of the above.

C. Special assessments

An easement that does NOT specify a special area for a right-of-way is known as a(n):


A. easement in gross.


B. vague easement.


C. unlocated easement.


D. partial easement.

C. unlocated easement.

Easements are always:


A. Non-money encumbrances.


B. Encroachments


C. Specific liens.


D. Estates.

A. Non-money encumbrances.

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:


A. secret profit.


B. subagency.


C. multiple deception.


D. pocket listing.

D. pocket listing.

The best way to create an agency relationship is:


A. by written agreement.


B. by handshake.


C. by using the MLS service.


D. by creating a dual agency.

A. by written agreement.

The term "company dollar" refers to the company:


A. advertising budget.


B. money required to run an office.


C. income after paying salespersons' commissions.


D. income before paying salespersons' commissions.

C. income after paying salespersons' commissions.

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?


A. One year


B. Two years


C. Three years


D. There is no time requirement

C. Three years

A copy of the listing agreement must be given to the signing party:


A. within 3 days of being signed


B. at the discretion of the listing broker.


C. before the escrow is opened.


D. immediately after it is signed.

D. immediately after it is signed.

When a real estate salesperson mixes his/her personal funds with the deposit of a client, it's called:


A. commingling.


B. commission.


C. secret profit.


D. implied.

A. commingling.

The best term to describe the relationship between the broker and the principal is:


A. distrustful.


B. fiduciary.


C. nurturing.


D. implied.

B. fiduciary.

A salesperson employed by a listing broker is an agent of:


A. the buyer.


B. the owner/seller.


C. the lender.


D. the courts.

B. the owner/seller.

When you authorize a broker to have acted for you after he or she has already done so, it's known as:


A. estoppel.


B. confirmation.


C. ratification.


D. all of the above.

C. ratification.

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?


A. $5,000


B. $2,500


C. $2,250


D. $1,250

D. $1,250

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):


A. no-sale auction.


B. illusory auction.


C. bidders market auction.


D. absolute auction.

d. absolute auction.

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:


A. innocent misrepresentation.


B. negligent misrepresentation.


C. fraudulent misrepresentation.


D. all of the above.

c. fraudulent misrepresentation

Which of the following is FALSE concerning real estate commissions?


A. Commissions are negotiable.


B. A real estate license is required to receive a commission for conducting a real estate transaction.


C. A salesperson receives compensation (his or her commission) directly from the principal.


D. All of the above.

C. A salesperson receives compensation (his or her commission) directly from the principal.

In order for a broker to collect a commission, without going to court, a listing agreement:


A. must be recorded.


B. must be notarized.


C. must be in writing.


D. must have an expiration date.

C. must be in writing.

In order to receive a commission, the broker must find a buyer who is:


A. ready.


B. willing.


C. able.


D. all of the above.

D. all of the above.

In a Transfer Disclosure Statement, both the buyer's and seller's brokers must conduct what type of property inspection?


A. Reasonably competent


B. Diligent


C. Visual


D. All of the above.

D. All of the above.

A Transfer Disclosure Statement is required for the sale of:


A. any commercial property.


B. any residential property


C. residential property consisting of 1-to-4 units.


D. multi-unit commercial property only.

C. residential property consisting of 1-to-4 units.

A special power of attorney allows the authorized person to:


A. transact all of the principal's business.


B. transact one specific act (sell your house).


C. maintain a trust account for the principal.


D. none of the above.

B. transact one specific act (sell your house).

In what type of listing is the broker competing with the owner?


A. Net listing


B. Exclusive right to sell listing.


C. Open listing.


D. Exclusive agency listing.

D. Exclusive agency listing.

A licensee is required to tell the parties involved whom he or she represents:


A. as soon as possible.


B. after the loan is funded.


C. after the escrow instructions are filed.


D. after the offer has been accepted.



A. as soon as possible.

A provision in a contract stating the purchase depends on the buyer qualifying for a loan is called a:


A. loan back-out clause.


B. covenant.


C. "subject to" provision or contingency clause.


D. all of the above.

C. "subject to" provision or contingency clause.

When an existing contract is replaced with an entirely new contract, it is called:


A. recission.


B. assignment.


C. novation.


D. subordination.

C. novation.

Which of the following is a classification of a contract?


A. Valid.


B. Unenforceable.


C. Voidable.


D. All of the above.

D. All of the above.

An assignment:


A. is only for personal service.


B. transfers only liability.


C. is a new contract.


D. transfers a person's right in a contract.

D. transfers a person's right in a contract.

Which of the following is FALSE concerning purchase agreement contracts?


A. They must be accompanied by a deposit of money or other items of value.


B. When acceptance is communicated to the buyer, it becomes a binding contract.


C. An agent must give a copy to both buyer and sellers.


D. Promissory notes and post-dated checks are never acceptable as consideration.

D. Promissory notes and post-dated checks are never acceptable as consideration.

Which of the following is FALSE concerning options?


A. They can be revoked at any time by the optioner (seller), without penalty.


B. They have specific terms.


C. They have specific time periods.


D. They are granted in exchange for money.

A. They can be revoked at any time by the optioner (seller), without penalty.

Which of the following is NOT considered a basic element of any contract?


A. Enforcement


B. Mutual consent.


C. Capacity


D. Consideration.

A. Enforcement

Consideration can be best described as:


A. money paid in a contract.


B. good will.


C. anything of value.


D. not necessary in a valid contract.

C. anything of value.

A remedy for breach can be:


A. a unilateral rescission.


B. an action for damages.


C. an acceptance of breach.


D. all of the above.

D. all of the above.

What is always true about a counter offer?


A. It is made by the buyer.


B. It is made by the seller.


C. It terminates the previous offer.


D. The previous offer is still valid.

C. It terminates the previous offer.

The current award for liquidated damages on a purchase agreement form is a maximum of:


A. 3% of the home purchase price.


B. 13% of the home purchase price.


C. 33% of the home purchase price.


D. 133% of the home purchase price.

A. 3% of the home purchase price.

A signed written contract takes precedence over oral agreements or prior written agreements based on:


A. the performance rule.


B. English common law.


C. the statue of frauds.


D. the parol evidence rule.

D. the parol evidence rule.

If one of the parties doesn't go through with the contract (nonperformance), it is called a(n):


A. assignment.


B. breach.


C. consideration.


D. operation of law.

B. breach.



A written contract between two parties is:


A. express and unilateral.


B. implied and bilateral.


C. express and bilateral.


D. implied and unilateral.

C. express and bilateral.

Any contract that can't be performed within one year from the date of signing:


A. is illegal.


B. must be in writing.


C. is a failure to perform.


D. is an example of duress.

B. must be in writing.

Of the following, which most nearly means the same thing as "rescind"?


A. Arrest


B. Reword


C. Terminate


D. Fulfill

C. Terminate

Which of the following is used to change the original terms of the purchase agreement?


A. Covenant form


B. Contingency form


C. Counter offer form


D. Substitution form

C. Counter offer form

An agreement that is made either verbally or in writing is known as a(n):


A. express contract.


B. mutual consent.


C. implied contract.


D. all of the above.

A. express contract

If a contract is said to be "executory," it:


A. is court ordered.


B. has not yet been performed.


C. has been discharged or performed.


D. has not yet been signed.

B. has not yet been performed.

Which of the following is NOT a remedy for breach of contract?


A. Unilateral rescission


B. Specific performance


C. Action for dollar damages


D. Substitute performance

D. Substitute performance