Important Quiz To Know About Personal Property: Trivia Questions!

6 Questions | By Azvette24 | Updated: Mar 20, 2022 | Attempts: 662

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Important Quiz To Know About Personal Property: Trivia Questions! - Quiz

Below is an important quiz to know about the personal property that is designed to see if you are ready to be a financial advisor when it comes to purchasing or sale of this type of property. Give it a try and get to see if you have what it takes to pass the certification exam. All the best and keep revising!

Questions and Answers

1.

The sale of personal property would include a:
- A.
  
  Deed
- B.
  
  Bill of Sale
- C.
  
  Deed of trust
- D.
  
  Binder
2.

What government right requires compensation to private property owners?
- A.
  
  Police Power
- B.
  
  Taxation
- C.
  
  Escheat
- D.
  
  Eminent domain
3.

If property is obtained by the state after a person dies, this is called:
- A.
  
  Police power
- B.
  
  Escheat
- C.
  
  Eminent domain
- D.
  
  Taxation
4.

Transfer of real property requires a:
- A.
  
  Deed
- B.
  
  Note
- C.
  
  Mortgage
- D.
  
  Pledge
5.

Which of the following would be an economic characteristic of real property?
- A.
  
  Non homogeneous
- B.
  
  Frozen Asset
- C.
  
  Alienation
- D.
  
  Governmental rights
6.

Which of the following listed below would be considered personal property?
- A.
  
  Easement appurtenant
- B.
  
  Fixtures
- C.
  
  Leasehold Improvements
- D.
  
  Promissory Note