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Exam (elaborations)

Real Estate License Exam Questions and Correct Answers the Latest Update and Recommended Version
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  • Course
  • REAL ESTATE LICENSE
  • Institution
  • REAL ESTATE LICENSE

Community property is that owned by: a. the church b. parent and child if the child is over 21 c. the city or community d. husband or wife when purchased with community funds husband or wife when purchased with community funds When real estate under lease is sold, the lease: a. expires w...

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  • October 24, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • real estate license exam questions and correct an

Written for

  • REAL ESTATE LICENSE
  • REAL ESTATE LICENSE

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Real Estate License Exam Questions
and Correct Answers the Latest Update
and Recommended Version
Community property is that owned by:

a. the church

b. parent and child if the child is over 21

c. the city or community

d. husband or wife when purchased with community funds

✓ husband or wife when purchased with community funds


When real estate under lease is sold, the lease: a. expires within 30 days, unconditionally b. is

broken c. remains binding on the new owner unless otherwise stipulated in the lease itself d.

must be renewed

✓ remains binding on the new owner unless otherwise stipulated in the lease itself


Income approach for an appraisal would be most widely used: a. on a newly opened

subdivision b. on commercial and investment property rented to tenants c. on property heavily

mortgaged d. on property heavily insured

✓ on commercial and investment property rented to tenants


The right to cross over property owned by another is called: a. adverse possession b. an

easement c. a homestead d. a lien




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✓ an easement


Taxes on real estate automatically become: a. a lien b. an easement c. a relinquishment d. a

mortgage

✓ a lien


Deeds are recorded in the: a. City hall b. County courthouse c. State capitol building d.

Tenancy in common

✓ County courthouse


Real property owned by the husband or wife prior to marriage is: a. community property b.

separate property c. personal property d. tenancy in common

✓ separate property


Eminent domain is: a. the action of taking property for public use b. a written agreement c. the

right to take property for public use d. evidenced by zoning

✓ the right to take property for public use


The deed which states that the title conveyed is good from the sovereignty of the soil to the

grantee and that no one else can successfully claim the property is a: a. special warranty

deed b. general warranty deed c. quit claim deed d. bargain and sale deed

✓ general warranty deed


One who acquires property under a deed is: a. an optionee b. a vendor c. a grantee d. a

trustee

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✓ a grantee


The tax on a given piece of real estate is determined by multiplying the tax rate of the

assessing body by the: a. selling price b. appraised value of the property c. assessed

valuation d. market value less depreciation

✓ assessed valuation


The law which requires certain contracts to be in writing to be enforceable is called the: a.

written instrument act b. statute of limitations c. statute of frauds d. license act

✓ statute of frauds


To ascertain the exact boundary lines of property, one should obtain a: a. title insurance

policy b. survey, with corners staked, by a licensed surveyor c. warranty deed d. bill of sale

✓ survey


Amortization is the process of: a. liquidation of debts by installments b. depreciation c.

appraisal d. appreciation

✓ liquidation of debts by installments


An attorney-in-fact is the holder of: a. a certificate as an attorney-at-law b. a power of

attorney c. an appointment by court order d. deed from a trustee under a will

✓ a power of attorney


The amount of deposit money is fixed by: a. the Real Estate License Act b. agreement of the

parties c. a minimum percentage of the selling price d. a broker

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