Exam (elaborations)
TN Exam Prep Quiz1 Verified and 100% Correct Q & A, Complete Document for Exam
- Course
- Institution
TN Exam Prep Quiz1 Verified and 100% Correct Q & A, Complete Document for Exam
[Show more]
Content preview
TN Exam Prep QuizCircle the letter of the Answer that corresponds to the displayed Question.
1. An unstated or unintentional agreement that may be deemed to exist by implication because of acts or
statements by any of the parties to the agreement. Not enforceable.
A. implied contract
B. sale contract
C. misrepresentation
D. acceleration
2. Investment return expressed as a dollar amount or a percent of the original investment amount.
A. yield
B. rectangular survey system / government survey system
C. comparative market analysis (CMA)
D. cloud
3. A lease requiring the landlord to pay all of a property's operating expenses, including those that pertain
to an individual tenant. Used most often.
A. general agency
B. present value
C. lien
D. full-service / gross lease
4. A north-south line used in a rectangular survey system of legal descriptions.
A. Meridian
B. mineral rights
C. seller's market
D. Federal Home Loan Mortgage Corporation (Freddie Mac)
5. A government-sponsored agency in the secondary mortgage market which buys conventional, FHA,
and VA loans, sells mortgage-backed securities, and guarantees payment of principal and interest on the
securities.
A. Federal National Mortgage Association (Fannie Mae)
B. CERCLA Superfund (1980) and SARA Superfund amendment (1986)
C. principal
D. estate
6. A trust in which a truster conveys a fee estate to a trustee and names himself or herself as beneficiary.
The beneficiary in turn controls the property and the actions of the trustee.
A. balloon payment
B. land trust
, C. property sold at a tax sale
D. police power
7. ----- must not be in any field of real estate
A. restriction
B. adverse facts
C. 2
D. debt coverage ratio
8. Removal of a tenant from a property because of a lease default.
A. riparian rights
B. eviction
C. property
D. will
9. An estimate of a property's value rendered by a party who is not necessarily licensed, objective, or
qualified. The estimate may not be a complete appraisal.
A. acceleration
B. broker's opinion of value
C. actual notice (see also constructive notice)
D. non-prorated expense
10. An agreement that is null and cannot be enforced.
A. void contract
B. state laws
C. for land trust
D. real estate investment trust (REIT)
11. 1/4 of 1/4 of 1/4 always
A. tax base
B. = 10 acres
C. chattel
D. real estate investment trust (REIT)
12. Plants and crops considered personal property, since human labor is required for planting, growing
and harvesting.
A. emblements
B. gross income multiplier
C. encroachment
D. Property Condition Disclosure Form
13. A conversion of real property to personal property through detachment of the iitem from the land.
A. CERCLA Superfund (1980) and SARA Superfund amendment (1986)
B. offer and acceptance
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACTUALSTUDY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now