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PSI national real estate exam practice test 1 questions with correct answers
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PSI national real estate exam practice test 1 questions with correct answers
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PSI national real estate exam practice test 1 questionswith correct answers
All of the following would be considered real property EXCEPT Correct
Answer-a leasehold estate
The servient estate in an easement appurtenant is the property Correct
Answer-on which the easement is placed
Which of the following statements concerning encumbrances is NOT
true Correct Answer-All encumbrances are liens
Which of the following is NOT a specific lien Correct Answer-State
inheritance taxes
You have entered into a lease that requires you to pay 20% of the
owners expenses. Your lease would be an example of a Correct Answer-
net lease
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? Correct Answer-Tenancy in
common
The highest form of ownership interest a person may hold in real estate
is Correct Answer-fee simple
, Two unrelated people own a three-unit apartment building as tenants in
common. One wants to sell but the other does not which of the following
statement describes the legal rights of the party who wants to sell?
Correct Answer-The party may request a court to partition the building
Your aunt died in-estate and you inherited her house, The way in which
you acquired the title to her house is by Correct Answer-descent
All of the following statements correctly describe a legal life estate
EXCEPT Correct Answer-During his or her life estate, the life tenant is
generally answerable to the holder of the future interest
A time share estate isn't a Correct Answer-lease hold estate
A state wants to build a publicity owned convention center to attract
private development in its largest city. Can the state use eminent domain
to acquire the land Correct Answer-Yes, if just compensation is paid to
the owners of the land
The city in which you live has a zoning ordinance. The basis for the city
to have such an ordinance is Correct Answer-Police Power
Police power-deed restriction Correct Answer-are not related
Strict liability under Superfund means that... Correct Answer-the owner
is responsible to the injured party without excuse
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