Real Estate Broker Exam Reviewer (Nrea Part1)

200 Questions | By Jenz_original | Updated: Mar 22, 2022 | Attempts: 8276

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Real Estate Broker Exam Reviewer (Nrea Part1) - Quiz

Questions and Answers

1.

Which of the following terms would include the interests, benefits, and rights inherent in the Ownership of Real Estate?
- A.
  
  Chattel
- B.
  
  Real Property
- C.
  
  Personal Property
- D.
  
  Trade Fixtures
2.

Which of the following would be considered to be real property?
- A.
  
  A leasehold estate
- B.
  
  Fixtures
- C.
  
  Chattels
- D.
  
  Trade Fixtures
3.

The Servient estate in an easement appurtenant is the property
- A.
  
  Owned by the landlord
- B.
  
  On which the easement is placed
- C.
  
  That benefits from the easement
- D.
  
  Owned by the tenant
4.

Your uncle died without a will, and you inherited his real estate. The way in which you would acquire his estate is by:
- A.
  
  Accession
- B.
  
  Succession
- C.
  
  Escheat
- D.
  
  Avulsion
5.

An earthquake tore away some of the land on your farm recently. This is an example of
- A.
  
  Accession
- B.
  
  Avulsion
- C.
  
  Accretion
- D.
  
  Erosion
6.

Which of the following is physical characteristic of land?
- A.
  
  Scarcity
- B.
  
  Situs
- C.
  
  Permanence of Investment
- D.
  
  Immobility
7.

Joy has been informed that her land is being taken by the estate for the development of a new Highway. the estate will pay Joy for her land. This process is called the right of
- A.
  
  Police Power
- B.
  
  Escheat
- C.
  
  Taxation
- D.
  
  Eminent Domain
8.

Maria objected to the violation of a deed of restriction in her subdivision but waited one year to request a court injunction to enforce the restriction. The judge subsequently ruled that Maria had waited too long to request for court action. The judge would not issue the injunction. Maria's loss is an example of
- A.
  
  Accession
- B.
  
  Laches
- C.
  
  Reliction
- D.
  
  Annexation
9.

The water rights of a landowner adjacent to a stream are known as
- A.
  
  Equitable Rights
- B.
  
  Littoral Rights
- C.
  
  Riparian Rights
- D.
  
  Appropriation Rights
10.

Commercial Real Estate includes all of the following except
- A.
  
  Office Buildings for sale
- B.
  
  Retail space for lease
- C.
  
  Apartment for rent
- D.
  
  Fast-food restaurant for rent
11.

Real property includes all of the following except
- A.
  
  Land
- B.
  
  Fixtures
- C.
  
  Bundle of rights
- D.
  
  Trade fixtures
12.

Pine trees and bougainvillea bushes on a property that were planted by the current owner are examples of
- A.
  
  Real Estate
- B.
  
  Personal Property
- C.
  
  Chattels
- D.
  
  Trade fixtures
13.

Legitime means:
- A.
  
  That part of the property of the testator or estate that cannot be disposed of because the law has reserved it for compulsory heirs.
- B.
  
  The free portion of the property that the owner cannot dispose
- C.
  
  The estate taxes that the heir has to pay before getting the property left by the deceased.
- D.
  
  That free portion of the property that a person is permitted by law to control a certain part for his own disposition and will
14.

A holographic will must be the following except.
- A.
  
  Must be dated
- B.
  
  Must be entirely written by the hand of the testator himself
- C.
  
  Must be signed by 3 witnesses and acknowledged before a notary public
- D.
  
  Must be signed by a testator himself
15.

If an unmarried person dies, his estate shall be inherited by:
- A.
  
  Parents only
- B.
  
  Brother and sister only
- C.
  
  Parents, brother and sister only
- D.
  
  Parents, brother and sister and nephews and nieces
16.

The share of an illegitimate child is equivalent to
- A.
  
  Same as the share of the spouse
- B.
  
  1/2 of the share of the spouse
- C.
  
  Same as the share of a legitimate child
- D.
  
  1/2 share of a legitimate child
17.

Probate of a will means:
- A.
  
  Dividing the state of the testator based on his will
- B.
  
  Filing and submitting the will to the court to determine authenticity and who will inherit the property of the deceased person.
- C.
  
  To prepare a will before a notary public
- D.
  
  To distribute the property based on the testator's will
18.

Extrajudicial settlement of estate means:
- A.
  
  Settling the estate of the testator based on his will
- B.
  
  Filing a petition in court to divide the estate of the deceased or testator
- C.
  
  Settling the estate among the heirs without going to the court
- D.
  
  Settling the estate by self adjudication
19.

Under the Code of Ethics and Responsibilities the real estate service practitioner is obligated to observe in all dealings and relations with clients, fellow practitioners, and general public the principle of treating others as you like them to treat you, or referred to as:
- A.
  
  The ten commandments
- B.
  
  Silver rule of practice
- C.
  
  Golden rule
- D.
  
  Good manners and right conduct
20.

A device which grant property owner relief from certain provisions of the zoning ordinance where, because of specific use, would result in a particular hardship upon the owner as distinguished from a mere inconvenience or a desire to make more money.
- A.
  
  Temporary use permit
- B.
  
  Variance
- C.
  
  Deviation
- D.
  
  Exception
21.

A grid pattern, popularized by Hippodamus, mark by four roads containing an average area of 73 square meters.
- A.
  
  Fortress
- B.
  
  Insula
- C.
  
  Block
- D.
  
  Puerta
- E.
  
  Nodal area
22.

A result of super-imposition or overlays of soil and slope maps taking into consideration rainfall intensity and tidal fluctuations of bodies of water, it shows the degree of potentiality of an area to water inundation.
- A.
  
  Land capability map
- B.
  
  Land suitability map
- C.
  
  Irrigation map
- D.
  
  Flooding hazard map
23.

The validity of a development permit, as prescribed in the revised implementing Rules and Regulations (IRR) shall be:
- A.
  
  1 year
- B.
  
  2 years
- C.
  
  3 years
- D.
  
  4 years
- E.
  
  5 years
24.

The minimum water supply requirement to provide the average daily demand (ADD) to all homeowners.
- A.
  
  100 liters/person/day
- B.
  
  150 liters/person/day
- C.
  
  200 liters/person/day
- D.
  
  250 liters/person/day
- E.
  
  300 liters/person/day
25.

The minimum area allocated for a park and playground.
- A.
  
  50 sq.m.
- B.
  
  100 sq.m
- C.
  
  150 sq.m
- D.
  
  200 sq.m.
- E.
  
  250 sq.m.