ASREB (Arizona School of Real Estate and Business)
chapter one Practice Study Guide Questions with A level
solution version 2025/2026
Feudal System - correct answer A legal system under which real property is owned by
Lord, king, or other sovereign
Variance - correct answer a permit obtained from the local zoning Authority allowing
the holder to use property or build a structure in a way the legally violates the zoning
ordinance
Allodial System - correct answer a concept of land ownership that allows private
individuals to own property
limited cash value (LPV) - correct answer used to compute primary taxes for the
maintenance and operation of school districts, cities, Community College districts, and
counties. lvp cannot exceed the properties full cash
Severance - correct answer a process through which fixtures are detached from the
land and so revert back to personal property
Emblements - correct answer Farm crops that require annual cultivation, which may be
removed by a tenant farmer if the owner sells land; considered to be personal property,
and so emblements are transferred through a bill of sale, also called: fructus
industriales.
law of Descent - correct answer a system whereby title to property passes by
operation of law to their heirs of one who dies owning property without a will
Non-homogeneity - correct answer a characteristic of real property: each piece of land,
each building, and each house is a different piece of real estate also called uniqueness
chapter one Practice Study Guide Questions with A level
solution version 2025/2026
Feudal System - correct answer A legal system under which real property is owned by
Lord, king, or other sovereign
Variance - correct answer a permit obtained from the local zoning Authority allowing
the holder to use property or build a structure in a way the legally violates the zoning
ordinance
Allodial System - correct answer a concept of land ownership that allows private
individuals to own property
limited cash value (LPV) - correct answer used to compute primary taxes for the
maintenance and operation of school districts, cities, Community College districts, and
counties. lvp cannot exceed the properties full cash
Severance - correct answer a process through which fixtures are detached from the
land and so revert back to personal property
Emblements - correct answer Farm crops that require annual cultivation, which may be
removed by a tenant farmer if the owner sells land; considered to be personal property,
and so emblements are transferred through a bill of sale, also called: fructus
industriales.
law of Descent - correct answer a system whereby title to property passes by
operation of law to their heirs of one who dies owning property without a will
Non-homogeneity - correct answer a characteristic of real property: each piece of land,
each building, and each house is a different piece of real estate also called uniqueness
