REAE (Isbell) Exam 1 Questions and Answers 100% Correct
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REAE (Isbell
REAE (Isbell) Exam 1 Questions and Answers 100% CorrectREAE (Isbell) Exam 1 Questions and Answers 100% CorrectREAE (Isbell) Exam 1 Questions and Answers 100% Correct
Which of the following would be considered an intangible asset? - ANSWER-Mortgage loans from the lender's perspective
As of 2008,...
which of the following would be considered an inta
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REAE (Isbell) Exam 1 Questions and
Answers 100% Correct
Which of the following would be considered an intangible asset? - ANSWER-Mortgage
loans from the lender's perspective
As of 2008, the single largest asset category in the net worth portfolios of households is:
- ANSWER-Housing
Real estate values derive from the interaction of three different sectors in the economy.
Which of the following sectors serves to allocate financial resources among households
and firms requiring funds? - ANSWER-Capital market
Primarily through land use controls and property tax policy, which of the following
branches of government likely has the largest influence on real estate values? -
ANSWER-Local government
The expected stream of rental income is capitalized into value by converting expected
future flows into present value through a process called: - ANSWER-Discounting
Real estate can be defined as: - ANSWER-Land and things attached to it
A fixture is an object that formerly was personal property but has become real property.
Of the following four rules for determining whether an object has become a fixture,
which is the most dominant: - ANSWER-Intention of the parties
Which of the following types of ownership estates is the most complete bundle of rights,
and therefore carries the greatest value? - ANSWER-Fee simple absolute
, Nonposessory interests (i.e. bundles of real property rights that do not include
possession) include all of the following except: - ANSWER-Leasehold interests
Which of the following is an example of a negative easement appurtenant? - ANSWER-
A scenic easement used to restrict construction on adjacent parcels so as to preserve a
value.
Which of the following is an example of a general lien? - ANSWER-Lien arising from a
court judgement unrelated to ownership of the property
Which of the following types of direct co-ownership combines single person ownership
with tenancy in common? - ANSWER-Condominium
A deed is a special form of written contract used to convey a permanent interest in real
property. Unlike most contracts, a deed requires: - ANSWER-Only the grantor to be
legally competent and of legal majority age.
They type of deed offered by the grantor is communicated through a phrase such as
"does herby grant, bargain, sell and convey unto..." This clause is referred to as the: -
ANSWER-Words of conveyance
Although deeds can only deliver what a grantor actually owns, they can still vary in
"quality." Which of the following types of deeds is considered to be the "highest quality"
because it contains the full set of legal promises the grantor can make? - ANSWER-
General warranty deed
An owner of land may involuntarily and unknowingly give up the rights to land. When a
fee simple interest is conveyed to a new owner without a deed and without the consent
or knowledge of the original owner this is said to be conveyed by: - ANSWER-Adverse
possession
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