FREE AND STUDY GAMES ABOUT Q A REAL EXAM

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QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

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-Guarantee passing score -187 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: THE PURCHASE OF A TICKET FOR A PROFESSIONAL SPORTING EVENT

GIVES THE BEARER

Answer:

A LICENSE TO ENTER AND CLAIM A SEAT FOR THE DURATION OF THE GAME

Question 2: 3 CO-WORKERS CANNOT AGREE ON THE USE AND DISPOSITION OF THE PROP

THAT THEY OWN TOGETHER. 2 WANT TO SELL AND THE 3RD WANT TO KEEP THE PROP.

WHAT CAN THEY DO

Answer:

THEY CAN FILE A PARTITION SUIT

Question 3: THE MOST ALL INCLUSIVE TYPE OF REAL PROPERTY OWNERSHIP IS A

Answer:

FEE SIMPLE ESTATE

Question 4: A PERSON WHO HAS COMPLETE CONTROL OVER A PARCEL OF REAL ESTATE IS

SAID TO OWN A

Answer:

FEE SIMPLE ESTATE

Question 5: A TT IS LEASING A HOUSE UNTIL HE HAS SAVED MONEY FOR THE DOWN PYMT

TO PERFORM ON THE SALES CONTRACT, WHAT TYPE OF AN AGREEMENT IS THIS

Answer:

LEASE PURCHASE AGREEMENT

Question 6: A TRUST IS A LEGAL ARRANGEMENT WHEREBY THE TITLE TO PROPERTY IS

HELD FOR THE BENEFIT OF A THIRD PARTY IS

Answer:

A TRUSTEE

Question 7: A CONTRACT AGREED TO UNDER DURESS IS

Answer:

VOIDABLE

Question 8: A BORROWER OBTAINED A $7000 SECOND MORTGAGE LOAN FOR 5 YRS AT 6%

INTEREST PER ANNUM. MONTHLY PYMT WERE $50. THE FINAL PYMT INCLUDED THE

REMAINING OUTSTANDING PRINCIPAL BALANCE. WHAT TYPE OF LOAN IS THIS

Answer:

PARTIALLY AMORTIZED

Question 9: 2 FRIENDS ARE CO-OWNERS OF A FEE SIMPLE INTEREST INA SMALL OFFICE

BLD. THE OLDER MAN DIES INTESTATE AND LEAVES NO ESTATE TO BE DISTRIBUTED TO

HIS HEIR. YOUNGER MAN IS NOT A RELATIVE/CREDITOR. WHY THE YOUNGER ACQUIRE

OLDER MAN INTEREST

Answer:

JOINT TENANCY

Question 10: IN A TYPICAL AGENCY RELATIONSHIP BETWEEN THE BROKER AND THE

CLIENT, THE BROKER'S COMMISSION IS DETERMINED BY

Answer:

MUTUAL AGREEMENT

Question 11: WHEN A LISTING BROKER WAS TOLD BY HIS PRINCIPAL NOT TO ADVERTISE

THE LISTING IN A PARTICULAR NEWSPAPER, WHICH WAS OUT OF THE AREA, THE BROKER

COMPLIED BECAUSE THE BROKER

Answer:

MUST OBEY THE LAWFUL INSTRUCTIONS OF HIS PRINCIPAL

Question 12: THE ESSENTIAL ELEMENTS OF A CONTRACT INCLUDE ALL OF THE FOLLOWING

Answer:

OFFER AND ACCEPTANCE; COMPETENT PARTIES; AND CONSIDERATION

Question 13: IN A COMMUNITY PROPERTY STATE, SEPARATE PROPERTY IS OWNED

Answer:

SOLELY BY EITHER SPOUSE BEFORE THE MARRIAGE OR ACQUIRED BY GIFT OR INHERIT BY

EITHER SPOUSE DURING THE MARRIAGE.

Question 14: WHICH IS CONSIDERED PERSONAL PROPERTY

Answer:

PATIO FURNITURE

Question 15: A RE BROKER ACTING AS THE AGENT OF THE SELLER

Answer:

IS OBLIGATED TO RENDER FAITHFUL SERVICE TO THE PRINCIPAL

Question 16: THE LL LEASE PROHIBITS TT FROM ALTERING THE PROP IN ANY WAY. YOUNG

WOMAN WHO USES A WHEELCHAIR CANNOT MOVE OVER THE DOORSTEP/BTHRM BY

HERSELF. WHAT A TT TO DO

Answer:

THE TT IS ENTITLED TO MAKE THE NECESSARY ALTERATIONS

Question 17: A BILATERAL CONTRACT IS ONE IN WHICH

Answer:

THE PROMISE OF ONE PARTY IS GIVEN IN EXCHANGE FOR THE PROMISE OF THE OTHER

PARTY

Question 18: AN INDIVIDUAL LIVES IN AN APT BLD. THE LAND/STRUCTURE ARE OWNED BY

CORP. W/ 1 MORT LOAN COVERING THE PROP. LIKE THE OTHER RESIDENTS THE

INDIVIDUAL OWNS A STOCK IN THE CORP AND A LEASE TO APT. THIS IS CALLED

Answer:

CO-OPERATIVE

Question 19: WHEN A TT HAS AN ESTATE FOR YEARS

Answer:

NO NOTICE IS REQUIRE TO TERMINATE THE LEASE

Question 20: A LOT IS EMCOMBERED BY A SEWER EASEMENT THAT RUNS WHERE THE

FOUNDATION OF A BLD WOULD BE. HOW WILL THIS AFFECT THE OWNER WHO WANTS TO

BUILD A HOUSE

Answer:

THE HOUSE MUST AVOID THE EASEMENT AND CONSTRUCT AROUND IT

Question 21: IN THE EVENT THAT IT IS NECESSARY HOW MIGHT A LL REMOVE A TT FROM

THE PREMISES

Answer:

FILE AN EVICTION SUIT

Question 22: AN EXISTING MORTGAGE LOAN CAN HAVE ITS LIEN PRIORITY LOWERED BY A

Answer:

SUBORDINATION AGREEMENT

Question 23: A SALESPERSON FROM A FIRM SELLS A BUYERS A PROP LISTED BY ANOTHER

BROKERAGE THAT PRACTICE DESIGNATED AREAS. SALESPERSON DOESNT HAVE A

CONTRACT WITH THE BUYER. IN PA, SALESPERSON MAY BE PRESUMED TO REPRESENT

Answer:

NO ONE

Question 24: A BROKER TOOK A LISTING AND LATER DISCOVERED THAT THE CLIENT WAS

PREVIOUSLY DECLARED LEGALLY INCOMPETENT. THIS LISTING IS NOW

Answer:

OF NO VALUE TO THE BROKER BC IT IS NOW VOID

Question 25: CERTAIN ITEMS ON THE PREMISES THAT WERE INSTALLED BY THE TENANT

AND ARE RELATED TO THE TENANTS BUSINESS ARE CALLED

Answer:

TRADE FIXTURES