Important Quiz To Know About Personal Property: Trivia Questions!
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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
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