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TN Exam Prep Quiz1 Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep Quiz1 Verified and 100% Correct Q & A, Complete Document for Exam
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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
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