PSI Real Estate Salesperson exam 1 Questions and Answers 100% Pass Which of the following would NOT be considered Real Property? 1. Mineral Rights 2. A Leasehold Estate 3. Fixtures 4. Air ✔✔2. A Leasehold Estate The servient estate in an easement appurtenant is the property 1. owned by the landlord 2. on which the easement is placed 3. owned by the tenant 4. that benefits from the easement ✔✔2. on which the easement is placed Which of the following statements co ncerning encumbrances is NOT true 1. All encumbrances are liens 2. All liens are encumbrances 3. Restrictions beneficial to the grantee are encumbrances 4. An easement is a physical encumbrance ✔✔1. All encumbrances are liens Which of the following is no t a specific lien? 1. Mortgage Lien 2. State inheritance tax 3. Real Estate taxes 4. Mechanic's Lien ✔✔2. State Inheritance tax You have entered into a lease that requires you to pay 20% of the owners expenses. Your lease would be an example of 1. varia ble lease 2. net lease 3. percentage lease 4. gross lease ✔✔2. Net lease If a husband and wife own an apartment building and the husband owns an undivided three -
fourths interest and the wife owns a one -fourth interest, what type of tenancy exists? 1. Leasehold Estate 2. Joint tenancy 3. Tenancy in common 4. Tenancy by the entirety ✔✔3. Tenancy in common The highest form of ownership a person may hold in Real Estate is? 1. Life Estate 2. Fee Simple 3. Legal life estate 4. base fee ✔✔2. Fee simple
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