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TN Exam Prep Quiz Questions and Answers
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TN Exam Prep Quiz Questions and Answers
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TN Exam PrepQuiz
Circle the letter of the Answer that corresponds to the displayed Question.
1. A law requiring certain contracts to be in writing in order to be enforceable. Examples are real
property conveyances, listing agreements, and long term leases.
A. syndication
B. origination fee
C. statute of frauds
D. liquidity
2. A legal contract that establishes and controls the dynamics of the agency relationship between
principal and agent. The principal to the listing may be buyer, seller, landlord, or tenant.
A. lien theory state
B. beginning basis
C. listing
D. Four types of leasehold estates
3. The degree to which an investment is readily marketable, or convertible to another form of
asset. Real property is relatively illiquid in comparison with other types of investment.
A. tax certificate
, B. remainder
C. liquidity
D. joint tenancy
4. One of the bundle of legal rights to real property enabling the owner to prevent others from entry
or use.
A. validity
B. general agency
C. exclusion
D. amortization
5. "Lenders, investors, and government agencies who buy, sell, insure, or guarantee existing
mortgages, mortgage pools, and mortgage-backed securities. Fannie Mae, Freddie Mac, Ginnie
Mae
A. Secondary mortgage markets
B. vacancy
C. offer
D. tax certificate
6. Penalty is charged if not insured by 31st day after expiration $500 @ 6 months + $100 per
month up to 12 months"
A. contract for deed
B. notice of title
C. executory contract
D. License Penalties
,7. The property that benefits from the existence of an easement appurtenant. The holder of the
easement is the dominant tenant.
A. dual agency
B. facilitator
C. <p>independent contractor
D. dominant tenement
8. "Sherman Antitrust Act - 1890
A. restriction
B. reconciliation
C. judicial foreclosure
D. - empowers government to proceed agains antitrust violators
9. Legal condition of a person who dies without a leaving a will.
A. title insurance
B. cloud
C. intestate
D. revocation
10. Separable subsurface rights to mineral deposits; transferrable by sale or lease to other parties.
A. life estate
B. mortgage
C. mineral rights
D. net listing
, 11. A theoretical market state in which the forces of supply and demand are in balance.
A. unequal services
B. equilibrium
C. Tennessee Real Estate Commission (TREC)
D. validity
12. 1/4 of 1/4 always
A. = 40 acres
B. depreciation
C. security
D. leverage
13. The business of managing the physical and financial condition of an investment property for an
owner. Oversee specific properties on behalf of the owners.
A. property management / managers
B. eviction
C. certificate of title
D. hypothecation
14. Fulfillment of the terms of a contract.
A. value
B. performance
C. Warrant of quite enjoyment
D. section
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