PA Real Estate Salesperson Quiz; Questions and Answers 100% Pass
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Module
PA REAL ESTATE
Institution
PA REAL ESTATE
PA Real Estate Salesperson Quiz; Questions
and Answers 100% Pass
Which of the following terms would include the interests, benefits, and rights
inherent in the ownership of real
estate?
1. Chattel
2. Personal property
3. Real property
4. Trade fixtures Correct Answer-3. Chattels and trade...
PA Real Estate Salesperson Quiz; Questions
and Answers 100% Pass
Which of the following terms would include the interests, benefits, and rights
inherent in the ownership of real
estate?
1. Chattel
2. Personal property
3. Real property
4. Trade fixtures Correct Answer-3. Chattels and trade fixtures are personal
property
Which of the following is a physical characteristic of land?
1. Scarcity
2. Situs
3. Permanence of investment
4. Immobility Correct Answer-4. Scarcity, situs, and performance of
investment are economic, characteristics
Pam & Marco held title as joint tenants. Which of the following statements
would NOT correctly describe the requirements for them to own as joint
tenants?
, PA Real Estate Salesperson Quiz; Questions
and Answers 100% Pass
1. Pam & Marco have the right of survivorship
2. Pam & Marco must have equal interests
3. Pam & Marco must be married
4. Pam & Marco may partition the land Correct Answer-3. Joint tenants do
not have to be married
All of the following would correctly describe easements EXCEPT?
1. an easement is an encumbrance
2. an easement appurtenant must have a dominant tenement and a servient
tenement
3. an easement in gross must have a dominant tenement
4. an easement constitutes an interest in land Correct Answer-3. An easement
in gross does not have a dominant tenement; it has a servient tenement only
Davis has a property that is a servient tenement in an easement appurtenant.
Davis is considering selling his property to Franco. All of the following
statements would correctly describe their potential transaction EXCEPT
1. the easement is an encumbrance
2. the easement may have a negative effect on the value of the property
, PA Real Estate Salesperson Quiz; Questions
and Answers 100% Pass
3. the easement is very likely to prevent David from selling his property to
Franco
4. the easement may have an impact on Franco's use of the property Correct
Answer-3. An easement would have to be disclosed to a potential buyer but is
unlikely to affect the transfer of title to the property
If a husband and wife own an apartment building and the husband owns an
undivided three-fourths interest and the wife owns a one-fourth interest, what
type of tenancy exists?
1. Leasehold estate
2. Joint tenancy
3. Tenancy in common
4. Tenancy by the entirety Correct Answer-3. Tenancy in common allows for
percentage differences in ownership. A leasehold estate s a personal property
interest. Joint tenancy and tenancy by the entirety require equal percentages of
interest in most states
The highest form of ownership interest a person may hold in real estate is
1. life estate
2. fee simple
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