PSI national real estate exam practice test 1| Actual exam answered 100% Correctly| Latest 2024

PSI national real estate exam practice test 1| Actual exam answered 100% Correctly| Latest 2024 All of the following would be considered real property EXCEPT a leasehold estate The servient estate in an easement appurtenant is the property on which the easement is placed Which of the following statements concerning encumbrances is NOT true All encumbrances are liens Which of the following is NOT a specific lien State inheritance taxes You have entered into a lease that requires you to pay 20% of the owners expenses. Your lease would be an example of a 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? Tenancy in common The highest form of ownership interest a person may hold in real estate is fee simple Two unrelated people own a three-unit apartment building as tenants in common. One wants to sell but the other does not which of the following statement describes the legal rights of the party who wants to sell? The party may request a court to partition the building Your aunt died in-estate and you inherited her house, The way in which you acquired the title to her house is by descent All of the following statements correctly describe a legal life estate EXCEPT