Quiz Summary
0 of 50 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 50 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- 33
- 34
- 35
- 36
- 37
- 38
- 39
- 40
- 41
- 42
- 43
- 44
- 45
- 46
- 47
- 48
- 49
- 50
- Current
- Review / Skip
- Answered
- Correct
- Incorrect
-
Question 1 of 50
1. Question
Which of the following is the customary method through which a buyer’s agent may be compensated?
CorrectIncorrect -
Question 2 of 50
2. Question
Laws enacted by a legislative body are known as:
CorrectIncorrect -
Question 3 of 50
3. Question
Which of the following rights are included within the owner’s “bundle of rights?”
CorrectIncorrect -
Question 4 of 50
4. Question
What kind of water rights does a property owner have if his or her land abuts water?
CorrectIncorrect -
Question 5 of 50
5. Question
Adam leased a property from Casey for a five-year term. Casey died, at which point Adam found out that Casey had only a life estate in the property that he was leasing. The lease is:
CorrectIncorrect -
Question 6 of 50
6. Question
Which of the following is NOT considered a common element in a condominium?
CorrectIncorrect -
Question 7 of 50
7. Question
The principal purpose of a deed is to:
CorrectIncorrect -
Question 8 of 50
8. Question
Which of the following would not ordinarily apply to a will?
CorrectIncorrect -
Question 9 of 50
9. Question
Which of the following statements about lien priority is incorrect?
CorrectIncorrect -
Question 10 of 50
10. Question
Daniel injured himself while swimming in Petra’s pool. If Daniel sued Petra and received a $2,500 judgment in his favor, the resulting lien would be a/an:
CorrectIncorrect -
Question 11 of 50
11. Question
Brendan bought a property from Lisa on March 1, 2004. The property taxes for the 2004-2005 fiscal year are:
CorrectIncorrect -
Question 12 of 50
12. Question
A property use that is permitted to continue even though it doesn’t comply with a new zoning ordinance is called a:
CorrectIncorrect -
Question 13 of 50
13. Question
An agent promised, while taking a listing, that she would use advance fees from the seller in order to advertise the property. Instead, she used the advance fees to buy cocaine for herself. This would be an example of:
CorrectIncorrect -
Question 14 of 50
14. Question
When a counteroffer is made:
CorrectIncorrect -
Question 15 of 50
15. Question
A broker acting in good faith received misinformation provided by the seller, and passed it on to a ready, willing, and able buyer, who entered into a purchase contract with the seller. When the buyer found out, he rescinded the contract. In this situation:
CorrectIncorrect -
Question 16 of 50
16. Question
A seller listed his property with a broker, and specified in the listing: “Seller not to receive more than 20% cash downpayment.” The broker presented an offer to pay all cash for the property. The broker is entitled to:
CorrectIncorrect -
Question 17 of 50
17. Question
A buyer under a land contract will acquire:
CorrectIncorrect -
Question 18 of 50
18. Question
Which of the following is the customary method through which a buyer’s agent may be compensated?
CorrectIncorrect -
Question 19 of 50
19. Question
A broker, in dealing with the public, may not:
CorrectIncorrect -
Question 20 of 50
20. Question
The federal antitrust law that prohibits any agreement that has the effect of a restraint on trade, such as price fixing, is called the:
CorrectIncorrect -
Question 21 of 50
21. Question
A salesperson negotiates a sale late in the afternoon on Friday. He collects an earnest money deposit from the buyer. He’s going to be out of town over the weekend and doesn’t want to chance losing the money so he deposits it in his personal account. On Monday he writes a check for the earnest money to his broker for placement in the broker’s trust account. Which of the following is true?
CorrectIncorrect -
Question 22 of 50
22. Question
Which pair of loans is synonymous?
CorrectIncorrect -
Question 23 of 50
23. Question
The Federal Reserve could create a tight money market by:
CorrectIncorrect -
Question 24 of 50
24. Question
Which of the following would not be included in a disclosure statement required by the Truth in Lending Act?
CorrectIncorrect -
Question 25 of 50
25. Question
The mutual mortgage insurance on an FHA loan will:
CorrectIncorrect -
Question 26 of 50
26. Question
The conditions of sale will affect which of a property’s characteristics?
CorrectIncorrect -
Question 27 of 50
27. Question
What does functional utility in a residence depend on?
CorrectIncorrect -
Question 28 of 50
28. Question
RESPA prohibits sellers from:
CorrectIncorrect -
Question 29 of 50
29. Question
RESPA’s disclosure requirements apply to which of the following?
CorrectIncorrect -
Question 30 of 50
30. Question
Which of the following personal residence expenses may be claimed as deductions on a federal income tax return?
CorrectIncorrect -
Question 31 of 50
31. Question
A condominium owner living in his condominium is permitted to deduct which of the following expenses on his federal income tax return?
CorrectIncorrect -
Question 32 of 50
32. Question
Which of the following statements about a tax-free exchange is TRUE?
CorrectIncorrect -
Question 33 of 50
33. Question
In an attempt to obtain listings, a broker visits sellers in a particular neighborhood and tells them that property values will soon decline due to a recent influx of minority homebuyers. This tactic is:
CorrectIncorrect -
Question 34 of 50
34. Question
According to the Americans With Disabilities Act:
CorrectIncorrect -
Question 35 of 50
35. Question
An example of a liquid asset is a/an:
CorrectIncorrect -
Question 36 of 50
36. Question
A lease in which the rent is set at a fixed amount and the landlord pays most or all of the operating expenses is called a:
CorrectIncorrect -
Question 37 of 50
37. Question
Disclosure of what potentially harmful substance is important, since it tends to grow out of sight in damp, enclosed spaces?
CorrectIncorrect -
Question 38 of 50
38. Question
Which of the following will a standard homeowners’ hazard insurance policy not cover?
CorrectIncorrect -
Question 39 of 50
39. Question
A rectangular lot is 900 square yards in area. It has a 45-foot frontage. How deep is the lot?
CorrectIncorrect -
Question 40 of 50
40. Question
A homeowner wanted to expand his current rectangular lot, which measured 17,550 square feet and was 150 feet deep. The rectangular lot next door was for sale, which contained 9,000 square feet and also was 150 feet deep. If he purchased the neighboring lot, what would be the total frontage of the combined lot?
CorrectIncorrect -
Question 41 of 50
41. Question
If the seller rejects an offer from a prospective buyer that matches the terms set forth in the listing agreement, the seller:
CorrectIncorrect -
Question 42 of 50
42. Question
Which of the following statements regarding the power of eminent domain is true?
CorrectIncorrect -
Question 43 of 50
43. Question
In a sale-leaseback:
CorrectIncorrect -
Question 44 of 50
44. Question
A principal instructs the agent not to show his property to members of a certain ethnic group. What should the agent do?
CorrectIncorrect -
Question 45 of 50
45. Question
The difference between the fair market value and the debt that is owed against a property is called:
CorrectIncorrect -
Question 46 of 50
46. Question
Which type of deed limits the covenants of the grantor?
CorrectIncorrect -
Question 47 of 50
47. Question
The term “capitalization” refers to:
CorrectIncorrect -
Question 48 of 50
48. Question
R conveys title to land to K by means of a special warranty deed. To ensure that the deed conveys all of the property, it must include:
CorrectIncorrect -
Question 49 of 50
49. Question
Broker Z enters into a property management agreement. Which of the following would be the other party to the contract?
CorrectIncorrect -
Question 50 of 50
50. Question
An architect is designing a 10-unit apartment, with five units upstairs and five units downstairs. There is no elevator. How many of the units must be wheelchair-accessible?
CorrectIncorrect
About the author