Real Estate National Practice

13 Questions | Total Attempts: 589

SettingsSettingsSettings
Please wait...
Real Estate Quizzes & Trivia

Quiz to is to help you pass your National Real Estate Exam


Questions and Answers
  • 1. 
    A system of laws that recognizes private ownership of land is referred to as?
    • A. 

      Common law

    • B. 

      Feudal law

    • C. 

      Allodial system

    • D. 

      Statute law

  • 2. 
    All of the following which are considered personal property
    • A. 

      A garage

    • B. 

      Growing bushes

    • C. 

      Installed dishwasher

    • D. 

      A stores displayed counters

  • 3. 
    In general, when the supply of R.E increase...
    • A. 

      Prices tend to increase

    • B. 

      Prices tend to decrease

    • C. 

      Demand tends to increase

    • D. 

      Demand is unchanged

  • 4. 
    Which of the following describes the act by which real property can be converted to personal property?
    • A. 

      Seperatation

    • B. 

      Conversion

    • C. 

      Severance

    • D. 

      Accession

  • 5. 
    A buyer and seller of a home are debating whether a certain iteam is real or personal property. The buyer believes its real propeprty and should be conveyed with the house; the seller believes it is personal property and may be conveyed seperatley with a bill of sale. In determining whether the item is real or personal property, a court would consider all of the following except?
    • A. 

      Adaptation of the item to the real estate

    • B. 

      The method of of attachment

    • C. 

      Permanence of the installation

    • D. 

      The length of time the item has been attached to the property

  • 6. 
    In the real estate market there are several factors that effect the supply of demand for real estate. Which of the following woul daffect the demand for real estate.
    • A. 

      # of real estate brokers in the area

    • B. 

      # of full-time real estate salespersons in the area

    • C. 

      Wage levels and employment opportunities

    • D. 

      Price of new homes being built in area

  • 7. 
    The economic characteristic of permanence of investment refers to which of the following?
    • A. 

      No 2 parcels of land are exactly alike

    • B. 

      Land cannot be removed

    • C. 

      Investments in real estate are usually for the long term

    • D. 

      Land cannot be destroyed

  • 8. 
    James is building a new enclosed front porch on his home. A truckload of lumber is left on his driveway for use in the building of the porch. At this poin the lumber is considered which kind of property?
    • A. 

      A fixture because it will be permanently affixed to existing real property

    • B. 

      Personal property

    • C. 

      Real prop.

    • D. 

      A trade fixture

  • 9. 
    Property management, appraisal, financing, and development are all examples of
    • A. 

      Government regulation of real estate industry

    • B. 

      Services provided by the real esate industry

    • C. 

      Non real estate professions

    • D. 

      Factors affecting demand for real estate.

  • 10. 
    Which of the following are considered personal property?
    • A. 

      Trees growing on property

    • B. 

      A garage

    • C. 

      A driveway

    • D. 

      Trade fixtures installed on property

  • 11. 
    Which economic characteristic of real estate refers to the concept that changes in a parcel of land affect its value either favorably or un favorably?
    • A. 

      Fixity

    • B. 

      Modifications

    • C. 

      Scarcity

    • D. 

      Nonhomogeneity

  • 12. 
    What physical characteristic makes real estate easy for local gov. to tax and causes it to be heavlily influenced by changes in the surrounding areas
    • A. 

      Indestructibility

    • B. 

      Nonhomogeneity

    • C. 

      Immobility

    • D. 

      Situs

  • 13. 
    Which of the following is included in the definition of real estate but not the defintion of land
    • A. 

      Air rights

    • B. 

      Propertys surface

    • C. 

      Below the surface to center of earth

    • D. 

      Fixtures on property

Back to Top Back to top