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TN Exam Prep Quiz 4 Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep Quiz 4 Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep QuizCircle the letter of the Answer that corresponds to the displayed Question.
1. A measure of the degree of residential land use within a given area for purposes of residential zoning
and land use control.
A. density
B. dominant tenement
C. tax certificate
D. riparian rights
2. All property that is not considered real property; all property that is not land or permanently attached to
land, excepting trade fixtures and emblements.
A. ethics
B. air rights
C. personal property
D. Characteristics of land
3. A major secondary mortgage market organization which buys conventional, FHA, and VA loans and
sells mortgage backed securities.
A. littoral rights
B. Warrant of quite enjoyment
C. limited/advisory agency
D. Federal Home Loan Mortgage Corporation (Freddie Mac)
4. Estate for years - definite term types of leasehold estates; Estate from period to period - definite term
but with renewable; Estate at will - no definite term and no renewal; Estate at sufferance - tenant
occupying without consent
A. adjusted basis
B. convey co-owned property
C. Four types of leasehold estates
D. property management / managers
5. An advertisement that does not contain the identity of the advertiser.
A. prior appropriation
B. blind ad
C. depreciable basis
D. subagency
6. A property having similar characteristics to a subject property in an appraisal. The value or sale price of
the comparable is used to estimate the value of the subject.
A. constructive notice
B. property management / managers
, C. comparable
D. depreciation
7. Rights of a property that abuts a body of water to own or use the water.
A. water rights
B. brokerage
C. homestead tax exemption
D. Institute of Real Estate Management
8. A business entity with an individual as sole owner. The death of the owner terminates the business.
A. riparian rights
B. 5
C. recording
D. sole proprietorship
9. Patent deed
A. transfer government property
B. Warranty forever
C. building code
D. loan commitment
10. An underwriting equation reflecting how much debt service an investment property can reasonably
afford to pay out of its net operating income; used to identify how large a loan the property can afford
given an interest rate and loan term.
A. variance
B. lot and block system
C. general partnership
D. debt coverage ratio
11. The legal condition of a person who dies leaving a valid will.
A. testate
B. tax base
C. gross easement
D. home equity loan
12. Obtaining a new loan to replace an existing loan, usually to take advantage of lower interest rates, to
obtain a longer-term loan, or to liquidate equity.
A. statute of limitations
B. comparable
C. refinancing
D. unilateral contract
13. An item permanently attached to land so as to e defined as real property.
, A. plottage
B. contract for deed
C. real property
D. fixture
14. A failure to provide equal opportunity for persons to acquire or finance housing based on race, color,
religion, national origin, sex, handicapped status, marital status, or family status.
A. private grant
B. broker
C. "discrimination in housing
D. operating expense
15. Last will and testament; a written or verbal statement by a testator instructing how to distribute the
testator's estate to heirs.
A. fair financing laws
B. will
C. rectangular survey system / government survey system
D. point
16. The total cost of credit to a borrower inclusive of finance charges and the state interest rate,
expressed as an annual rate of interest.
A. deed in lieu of foreclosure.
B. annual percentage rate (APR)
C. escrow
D. asset sale
17. A sale of a business involving the transfer of assets as opposed to the liabilities or stock.
A. offer and acceptance
B. holographic will
C. asset sale
D. subsurface rights
18. A loss of value to property because of decay or natural wear and tear. Exacerbated by deferred
maintenance, or the failure to repair or maintain property on a regular basis.
A. Institute of Real Estate Management
B. capital improvement
C. defeasible fee
D. physical deterioration
19. Grantor owns estate to be conveyed
A. Warrant of seisin
B. negative amortization
C. limited partnership
D. sale leaseback
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