Section 3: Ownership Of Real Property
11 Questions
| Total Attempts: 203
Questions and Answers
- 1.Ownership of Real Property is referred to as ____.
- A.
Ownership
- B.
Title
- C.
Possession
- D.
Leasehold
- 2.Which of the following are legal entities? (Check all that apply)
- A.
An individual
- B.
A government agency
- C.
A corporation
- D.
A partnership
- E.
A trust
- 3.All legal entities have all of the following legal capacities EXCEPT ____.
- A.
Own property
- B.
Enter into agreements
- C.
Incur and pay debts
- D.
Vote
- E.
Sue and be sued
- 4.A real propery owner that owns all rights to their property has ____ ownership.
- A.
Total
- B.
Complete
- C.
Fee Simple
- D.
Unchallenged
- E.
Leasehold
- 5.The owners of an LLC are called what?
- A.
Owners
- B.
Partners
- C.
Members
- D.
Proprietors
- 6.The person who receives the proceeds of a trust is known as the ____.
- A.
Trustee
- B.
Beneficiary
- C.
Trustor
- D.
Member
- 7.True or False. A legal entity can only be owned by an individual person.
- A.
True
- B.
False
- 8.Thanks to the county _____, there is a paper trail that allows us to see the chain of ownership of real property.
- A.
Assessor
- B.
Recorder
- C.
SOS
- D.
GIS
- 9.Which of the following is an LLC?
- A.
Storage Select, LLC
- B.
Billy & Gena's Storage, LP
- C.
Johns Storage, Inc.
- D.
The Harrison Family Revocable Trust
- 10.True or False. Once we find a legal owner, our seaerch for the actual owner is complete.
- A.
True
- B.
False
- 11.What is your favorite song?
Section 6.4—Quiz: Suggestive Selling and Cross-Selling
Questions: 9 | Attempts: 776 | Last updated: Dec 13, 2012
-
Sample QuestionWhich of the following is not a guideline for suggestive selling?
Type the words from each sentence that should be underlined or in italics.
Questions: 7 | Attempts: 614 | Last updated: Dec 13, 2012
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Sample QuestionMrs. Nolt has a print of Georgia O’Keefe’s painting Apple Blossoms.
Please answer the following questions.
Questions: 9 | Attempts: 484 | Last updated: Dec 13, 2012
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Sample QuestionIdentify which relation is nonlinear.
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