Important Quiz To Know About Personal Property: Trivia Questions!

6 Questions

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Important Quiz To Know About Personal Property: Trivia Questions!

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