Real Estate

15 Questions | By Starrynite519 | Updated: Mar 19, 2022 | Attempts: 1381

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Trying to make a quiz to pass real estate exam

Questions and Answers

1.

What would happen if there was rescission to a contract?
- A.
  
  An amendment to the contract; contract would have to be changed to reflect amendment
- B.
  
  One of the parties would back out and the other party would be left with a void contract
- C.
  
  The contract would be cancelled and the return of the parties to their positions as if contract would have never been made.
- D.
  
  Both parties agree to rewrite contract to service their needs
Correct Answer
C. The contract would be cancelled and the return of the parties to their positions as if contract would have never been made.
2.

What is "any interest in or claim on, the land of another, which in some manner burdens or diminishes value of prop?"
- A.
  
  Encroachment
- B.
  
  Emblement
- C.
  
  Intrusion
- D.
  
  Encumberance
Correct Answer
D. Encumberance
3.

States that upon default, all of the prinicipal installments come due immediately
- A.
  
  Acceleration
- B.
  
  Alienation
- C.
  
  Avulsion
- D.
  
  Rescission
Correct Answer
A. Acceleration
4.

Provision in a mortgage requiring full payment of debt upon transfer of title to prop, due on sale. Prevents loan assumptions
- A.
  
  Acceleration
- B.
  
  Alienation
- C.
  
  Title insurance
- D.
  
  Recission
Correct Answer
A. Acceleration
5.

Applicants for broker and broker/salesperson must show proof of completion of how many semester units?
- A.
  
  24
- B.
  
  30
- C.
  
  45
- D.
  
  64
Correct Answer
D. 64
6.

To get a property management permit, licensee must show proof of having a NV real estate license; pass NV Prop Management state exam within one year of date of application attend an accredited Prop Management pre-permit course for how many hours?
- A.
  
  18
- B.
  
  24
- C.
  
  36
- D.
  
  45
Correct Answer
B. 24
7.

NRS 113 pertains to?
- A.
  
  Sales of Real Prop
- B.
  
  Common-Interest Ownership
- C.
  
  Subdivided land
- D.
  
  Time shares
Correct Answer
A. Sales of Real Prop
8.

NRS 116 pertains to?
- A.
  
  Sales of Real Prop
- B.
  
  Subdivided land
- C.
  
  Time shares
- D.
  
  Common-Interest Ownership
Correct Answer
D. Common-Interest Ownership
9.

Type of easement created to benefit adjacent land?
- A.
  
  Easement in Gross
- B.
  
  Easement by Implication
- C.
  
  Easement Appurtenant
- D.
  
  Easement of Obsolence
Correct Answer
C. Easement Appurtenant
10.

Best definition of easement?
- A.
  
  Burden on a neighbor because of land lines and restrictions
- B.
  
  A right to limited use or enjoyment by one or more persons in the land of another.
- C.
  
  Occurs because of necessity, such as the conveyance of a land-locked property.
- D.
  
  A personal right to use the land of another.
Correct Answer
B. A right to limited use or enjoyment by one or more persons in the land of another.
11.

What is defined as "a necessary mortgage clause in title theory states. When the debt is satisfied, this clause causes title to pass automatically back to the borrower. Satisfaction of mortgage; release from records."?
- A.
  
  Defeasance clause
- B.
  
  Deficiency clause
- C.
  
  Descent clause
- D.
  
  Due-on-Sale Clause
Correct Answer
A. Defeasance clause
12.

Name for the clause in a mortgage similiar to alienation?
- A.
  
  Defeasance clause
- B.
  
  Due on sale clause
- C.
  
  Deficiency clause
- D.
  
  Descent clause
Correct Answer
B. Due on sale clause
13.

What refers to "The extension of some improvement or object across the boundary of an adjoining tract. (Off sides).
- A.
  
  Encroachment
- B.
  
  Encumbrance
- C.
  
  Descent
- D.
  
  Escheat
Correct Answer
A. Encroachment
14.

What is called the "Retention of possession without the consent of the landlord after the lease has expired?"
- A.
  
  Estate for years
- B.
  
  Estate from period to period
- C.
  
  Estate at Sufferance
- D.
  
  Estate at will
Correct Answer
C. Estate at Sufferance
15.

A conveyance of realty for a definite stated period of time. The term may be one year, one month, one week or even one day. No notice needed to terminate.
- A.
  
  Estate for years
- B.
  
  Estate from period to period
- C.
  
  Estate at Sufferance
- D.
  
  Estate at will
Correct Answer
A. Estate for years

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Current Version
Mar 19, 2022

Quiz Edited by
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Feb 02, 2010

Quiz Created by
Starrynite519

Real Estate

What would happen if there was rescission to a contract?

What is "any interest in or claim on, the land of another, which in some manner burdens or diminishes value of prop?"

States that upon default, all of the prinicipal installments come due immediately

Provision in a mortgage requiring full payment of debt upon transfer of title to prop, due on sale. Prevents loan assumptions

Applicants for broker and broker/salesperson must show proof of completion of how many semester units?

To get a property management permit, licensee must show proof of having a NV real estate license; pass NV Prop Management state exam within one year of date of application attend an accredited Prop Management pre-permit course for how many hours?

NRS 113 pertains to?

NRS 116 pertains to?

Type of easement created to benefit adjacent land?

Best definition of easement?

What is defined as "a necessary mortgage clause in title theory states. When the debt is satisfied, this clause causes title to pass automatically back to the borrower. Satisfaction of mortgage; release from records."?

Name for the clause in a mortgage similiar to alienation?

What refers to "The extension of some improvement or object across the boundary of an adjoining tract. (Off sides).

What is called the "Retention of possession without the consent of the landlord after the lease has expired?"

A conveyance of realty for a definite stated period of time. The term may be one year, one month, one week or even one day. No notice needed to terminate.