PA Real Estate Fundamentals Exam study
guide COMPLETE EXAM Questions and
Answers (Verified Answers) (Latest
Update 2026)
Real Estate -CORRECTANSWER Land; a portion of the earth's surface extending
downward to the center of the earth and upward infinitely into space, including all things
permanently attached to it, whether naturally or artificially.
Leasehold Improvements -CORRECTANSWER Fixtures installed by landlord for
tenant's use
Real Property -CORRECTANSWER Real estate plus "bundle of rights"
Bundle of Rights -CORRECTANSWER The rights of an owner to possess, control,
enjoy, sell, lease, mortgage, and dispose of the property. Pertains to surface,
subsurface, and air rights.
Surface Water Rights -CORRECTANSWER Include riparian, "river" (flowing), and
littoral, "lake" (non-flowing) rights
, Personal Property -CORRECTANSWER Something of a temporary nature (aka: chattel
or personalty). Inc: detached household goods, emblements (aka: fructose industriales;
corn, plants, crops), trade fixtures
Metes and Bounds -CORRECTANSWER Method of describing real estate, using
boundary lines with terminal points and angles; aka: "distances & directions." Distance
is expressed in feet, perches or rods; all equalling 16.5.' Direction is expressed in
degrees, minutes, and seconds (").
Plot Plan -CORRECTANSWER A plan of plots recorded in county recorder plan book;
plots are identified by block & lot, and are numbered or lettered. A property deed will
show a property's lot, block, and plot plan in public records.
Topographic Map -CORRECTANSWER A map that shows the surface features
(elevation) of a land area.
Freehold Estate -CORRECTANSWER An estate in real property which continues for an
indefinite period of time.
Fee Simple Absolute Estate -CORRECTANSWER The highest and most complete set
of ownership rights one can possess in real property
guide COMPLETE EXAM Questions and
Answers (Verified Answers) (Latest
Update 2026)
Real Estate -CORRECTANSWER Land; a portion of the earth's surface extending
downward to the center of the earth and upward infinitely into space, including all things
permanently attached to it, whether naturally or artificially.
Leasehold Improvements -CORRECTANSWER Fixtures installed by landlord for
tenant's use
Real Property -CORRECTANSWER Real estate plus "bundle of rights"
Bundle of Rights -CORRECTANSWER The rights of an owner to possess, control,
enjoy, sell, lease, mortgage, and dispose of the property. Pertains to surface,
subsurface, and air rights.
Surface Water Rights -CORRECTANSWER Include riparian, "river" (flowing), and
littoral, "lake" (non-flowing) rights
, Personal Property -CORRECTANSWER Something of a temporary nature (aka: chattel
or personalty). Inc: detached household goods, emblements (aka: fructose industriales;
corn, plants, crops), trade fixtures
Metes and Bounds -CORRECTANSWER Method of describing real estate, using
boundary lines with terminal points and angles; aka: "distances & directions." Distance
is expressed in feet, perches or rods; all equalling 16.5.' Direction is expressed in
degrees, minutes, and seconds (").
Plot Plan -CORRECTANSWER A plan of plots recorded in county recorder plan book;
plots are identified by block & lot, and are numbered or lettered. A property deed will
show a property's lot, block, and plot plan in public records.
Topographic Map -CORRECTANSWER A map that shows the surface features
(elevation) of a land area.
Freehold Estate -CORRECTANSWER An estate in real property which continues for an
indefinite period of time.
Fee Simple Absolute Estate -CORRECTANSWER The highest and most complete set
of ownership rights one can possess in real property
