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Alabama Real Estate Final Exam Study Guide - 60 Hour Course Updated (2024 / 2025) Questions and Verified Answers, 100% Guarantee Pass$12.99
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Alabama Real Estate Final Exam Study Guide - 60 Hour Course.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Alabama%20Real%20E
Alabama Real Estate Final Exam Study Guide - 60
Hour Course
1. Which of the following ways of specializing is common in the real estate brokerage
business?
A. By type of mortgage financing required
B. By years of experience in the business
C. By type of property
D. By background of client
ANS C. By type of property
2. Which of the following is included in the legal concept of land?
A. A corn crop
B. A lake
C. A felled tree
D. An abandoned vehicle
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ANS B. A lake
3. A property abuts a non-navigable stream. What does the property owner own?
A. Land to the low-water mark
B. Underlying land to the middle of the waterway
C. Land to the high water mark
D. All water to the middle of the waterway
ANS B. Underlying land to the middle of the waterway
4. A retailer installs special display counters to exhibit her products. At the end of the lease
term, the retailer moves to another state, leaving the counters in the store. At this point
the counters are considered which of the following?
A. Trade fixtures, and therefore real property
B. Trade fixtures and therefore personal property
C. Real property, since the trade fixtures were abandoned
D. Personal property that must be returned to the retailer
ANS C.Real property, since the trade fixtures were abandoned
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5. How is a legal life estate created?
A. By an owner's voluntary grant
B. By operation of law
C. Through the four unities
D. Through a defeasible conveyance
ANS B. By operation of law
6. Which of the following is true of a homestead?
A. A homestead interest can be conveyed by one spouse
B. A homestead interest cannot be exempt from creditors
C. A homestead interest is a form of legal life estate
D. A homestead is any privately owned single-family residence
ANS C.A homestead interest is a form of legal life estate
7. Three people have identical rights in a property, share an indivisible interest, but may sell
or transfer their interest without consent of the others.This type
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of ownership is
A. joint tenancy
B. tenancy by the entireties
C. estate in severalty
D. tenancy in common
ANS D. tenancy in common
8. A condominium estate is distinguished by
A. Ownership of a share in an association and a condominium lease on the owned unit
B. Tenancy in common interest in airspace and common areas of the property
C. Fee simple ownership of a unit and undivided share of the common areas
D. Fee simple ownership of an equal share of the entire property
ANS C. Fee simple ownership of a unit and undivided share of the common areas
9. An easement by prescription requires that
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