Iowa Real Estate Study Questions and Answers

Is corn stored in a grain bin, real or personal property? Personal T or F? Kitchen Cabinets are considered real property after they are installed as improvements to the home, even though at one time they were personal property. True T or F? A dishwasher installed in the cabinets does not need to be excluded from the listing if the owner is planning on taking the washer with them. It can be excluded on the sales agreement. False T or F? It is not necessary for a licensee to be under the control of a real estate broker. False T or F? A water well pump would be considered personal property and could be taken with the seller. False T or F? The sudden replacement of land by a landslide is called avulsion. True T or F? Riparian water rights are the right enjoyed by landowners located next to lakes. False T or F? Appointees to the Iowa Real Estate Commission must be approved by the Iowa Senate. True T or F? Littoral rights are rights enjoyed by landowners located next to rivers and streams. False T or F? Real property is divided into two categories, physical and economic. True T or F? Landowners can sell air rights or subsurface rights and retain the surface rights. True A term that has been given to expanding exposure is "farming". Some good examples of "farming" are as follows: - Door knocking in your local neighborhood. - Putting your business cards on local business bulletin boards. - Joining breakfast clubs, service clubs, and other casual organizations. - All of the above. All of the Above