National Real Estate Exam Practice Questions 2024/2025 with 100% correct answers
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Course
National Real Estate Eb
Institution
National Real Estate Eb
A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of... correct answersimprovements
A property owner has a waterfront lot on a stream. He has the right to use the water from the stre...
A property owner has decided to do some landscaping work on his yard. He has planted a tree
surrounded by some flowering shrubs. The tree and shrubs are an example of... correct
answersimprovements
A property owner has a waterfront lot on a stream. He has the right to use the water from the stream.
What is this right called? correct answersriparian
A tenant is aware that his lease will expire at the end of the month. He has begun to disassemble his
display cabinets and shelves. Which of the following statements about this is true correct answersthe
tenant can take these as they are trade fixtures
A seller is attending the closing on his property. The title company has discovered an unsatisfied M&M
lien on the property. Which of the following is the most likely reason for the lien? correct
answersplumbing work that was completed but never paid for
A listing agent went to inspect a seller's property hoping to list it for sale. The seller told the listing agent
that his neighbor's satellite dish trespasses on his property. This is an example of... correct
answersencroachment
A father gives his son a life estate on a property. The son leases the property. The tenant dies. What
happens to the property? correct answersit goes back to the son until he dies
A man leaves his second wife a life estate in their home after which the property goes to his children
from his first marriage. The children... correct answersare remaindermen
Which of the following statements about an easement is true? correct answersan easement is a benefit
to the dominant property owner
,P, Q and R are joint tenants. P wants to sell the property, but Q and R do not. What can P do? correct
answersfile a suit for partition
A, B and C are joint tenants. C dies. B sells his share to D. What type of ownership do A and D have?
correct answerstenants in common
Under what right can the government change property use from commercial to residential only? correct
answerspolice power
Ownership of the common areas of condominiums is most likely to be: correct answerstenancy in
common
What should a buyer do to ensure that his is getting the best title to real property? correct answersget a
general warranty deed
Which covenant in a deed guarantees that the owners will not suffer or be disturbed by any claims on
the property? correct answersthe covenant of quiet enjoyment
Excess money at a foreclosure sale goes to... correct answersthe borrower
After defaulting on a real estate loan, a borrower is able to pay off the loan prior to the foreclosure sale.
This is called: correct answersright of redemption
The required distance between buildings and a federally protected endangered species wetlands is an
example of... correct answersa buffer zone
A couple purchased a condominium. The complex has an exercise room for all residents. The couple does
not use the exercise room and does not want to pay the monthly fee for the use of the facility. What can
they do to avoid this fee? correct answersthey must pay the fee as they have a tenancy in common
interest in all common areas
Which of the following is personal property? correct answersa lease
, A landlord leased space in his new retail property to an inexperienced business person. Based on
location and the type of business, the landlord believes it will be a great success. What type of lease can
he enter into with the tenant that will allow the landlord to benefit from the tenant's success? correct
answersa percentage lease
A buyer has purchased a property and after closing the seller will continue to occupy the property. This is
an example of... correct answerssale and leaseback
Your client will be able to qualify for a property they wish to purchase in about 6 months, after they had
an opportunity to reduce their consumer debt. They have found a property that they would like to
purchase now. What type of agreement can they enter into with a seller that will allow them to occupy
the property now and purchase it within the 6 months? correct answerslease with an option to buy
Tenants have signed a 3 year lease on a property. In the second year the owner dies and his heirs inherit
the property. They give the tenants notice to vacate. What is true? correct answersthe tenants can stay
until the end of the lease
A developer decides to build a commercial property in the middle of a residential subdivision. What is
required? correct answersa variance
A zoning ordinance would affect which of the following? correct answersthe concentration of housing in
a residential area
If a person dies without a will, who receives their estate? correct answersspouse and children
What are the requirements/ criteria for real estate to have values? correct answersdemand, utility,
scarcity, transferability
What principle of value defines the most important factor for appraisal? correct answershighest and best
use
What approach would an appraiser most likely use to value a residential rent house in neighborhood
where a majority of the homes are leased? correct answersincome approach
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