REAE 3325 Test 1 Questions and Answers 100% Correct
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Course
REAE 3325
Institution
REAE 3325
REAE 3325 Test 1 Questions and Answers 100% CorrectREAE 3325 Test 1 Questions and Answers 100% CorrectREAE 3325 Test 1 Questions and Answers 100% CorrectREAE 3325 Test 1 Questions and Answers 100% Correct
Real estate is property, which can be either a tangible or an intangible asset. Which of the ...
REAE 3325 Test 1 Questions and
Answers 100% Correct
Real estate is property, which can be either a tangible or an intangible asset. Which of
the following would be considered an intangible asset? - ANSWER-Mortgage
The expected stream of rental income is capitalized into value by converting expected
future cash flows into present value through a process called: - ANSWER-discounting
As of 2011, the single largest asset category in the net worth portfolios of households is:
- ANSWER-housing
Primarily through land use controls and property tax policy, which of the following
branches of government has the largest influence on real estate values? - ANSWER-
Local government
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
Real Estate can be defined as - ANSWER-Land and things attached to it
Nonposessory interests (i.e. bundles of real property rights that do not include
possession) include all of the following EXCEPT: - ANSWER-leasehold interests
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 (i.e. if there is a conflict, which rule prevails)? - 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
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
valued view.
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.
, A lien is an interest in real property that serves as security for an obligation. Which of
the following is an example of a general lien? - ANSWER-Lien arising from a court
judgment 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
The 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
A major problem in buildings constructed prior to the early 1970's, which of the following
environmental hazards commonly associated with insulation has been the focus of
costly cleanups at many public buildings, especially schools? - ANSWER-Asbestos
A traditional zoning ordinance includes all of the following EXCEPT: - ANSWER-
Performance standards
The right of government to acquire private property, without the owner's consent, for
public use in exchange for just compensation is referred to as: - ANSWER-eminent
domain
One of the most important requirements of a land description is for it to be
unambiguous. Which of the following methods of property description is the most
unambiguous and is appropriate for use in legal documents? - ANSWER-Metes and
bounds
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
In constructing a market-defining "story," it is helpful to answer a series of fundamental
questions around which analysis can be built. Which of the following questions is
designed to identify the target market? - ANSWER-Who are the customers?
Which value approach can be best described as determining the construction cost of a
house, subtracting depreciation and adding the site value? - ANSWER-Cost approach
Unlike other forms of evidence of title, title insurance guards the grantee against certain
risks. However, there are a number of important limits to title insurance. Which of the
following is an example of the limits to title insurance? - ANSWER-It does not protect
the grantee from the threat of physical damage to the property.
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