Pearson Vue Real Estate Salesperson
Practice Exam 1 Questions & Answers
(Grade A+)
The right to occupy a property without interference for a specified
period of time is known as a
A .trespass.
B .prescriptive easement.
C .leasehold.
D .suit for possession. -
correct answer ✅Choice C
A lease defines the period of time during which the tenant has the
right to occupy and enjoy a property. At the end of that period,
those rights revert to the owner.
Which of the following instruments would contain the loan amount,
interest rate, term of the loan, and monthly payments?
A. Note
B. Mortgage
C. Deed
D. Lease -
correct answer ✅Choice A
,Pearson Vue Real Estate Salesperson
Practice Exam 1 Questions & Answers
(Grade A+)
The mortgage puts a lien on the property, and the note contains the
promises to pay the amount owed.
Tenancy by the entirety is a special form of ownership available
only to
A. sole owners.
B. corporations.
C. married couples.
D. limited partners. -
correct answer ✅Choice C
Tenancy by the entirety, available in most non-community property
states, is automatically assumed when a married couple purchases
real estate together, unless they specify some other form of
ownership.
Which of the following is NOT necessary in order for a property to
have value?
A. The property has a useful purpose.
,Pearson Vue Real Estate Salesperson
Practice Exam 1 Questions & Answers
(Grade A+)
B. Somebody wants to own the property.
C. The property is unique.
D. The owner of the property is unknown. -
correct answer ✅Choice D
Property has value only if title can be passed.
Real property can be converted to personal property by
A. severance.
B. substitution.
C. accretion.
D. attachment. -
correct answer ✅Choice A
Severance comes from the word sever, which means to remove by
cutting. For example, trees are real property until they are cut down
and detached from the land.
The task of the appraiser is to
, Pearson Vue Real Estate Salesperson
Practice Exam 1 Questions & Answers
(Grade A+)
A. establish market price.
B. guess at the final contract price.
C. estimate market value.
D. evaluate the property for tax purposes. -
correct answer ✅Choice C
An appraisal is an estimate of market value through an analysis of
data. The actual sales price is defined as "market price."
The theory of using real property as collateral to secure a loan
while retaining the property's use and benefits is called
A. mortgagee.
B. encumbrance.
C. hypothecation.
D. promissory intent. -
correct answer ✅Choice C
When a borrower pledges property to secure a loan while retaining
the property's use and benefits, it is known as hypothecation.
Practice Exam 1 Questions & Answers
(Grade A+)
The right to occupy a property without interference for a specified
period of time is known as a
A .trespass.
B .prescriptive easement.
C .leasehold.
D .suit for possession. -
correct answer ✅Choice C
A lease defines the period of time during which the tenant has the
right to occupy and enjoy a property. At the end of that period,
those rights revert to the owner.
Which of the following instruments would contain the loan amount,
interest rate, term of the loan, and monthly payments?
A. Note
B. Mortgage
C. Deed
D. Lease -
correct answer ✅Choice A
,Pearson Vue Real Estate Salesperson
Practice Exam 1 Questions & Answers
(Grade A+)
The mortgage puts a lien on the property, and the note contains the
promises to pay the amount owed.
Tenancy by the entirety is a special form of ownership available
only to
A. sole owners.
B. corporations.
C. married couples.
D. limited partners. -
correct answer ✅Choice C
Tenancy by the entirety, available in most non-community property
states, is automatically assumed when a married couple purchases
real estate together, unless they specify some other form of
ownership.
Which of the following is NOT necessary in order for a property to
have value?
A. The property has a useful purpose.
,Pearson Vue Real Estate Salesperson
Practice Exam 1 Questions & Answers
(Grade A+)
B. Somebody wants to own the property.
C. The property is unique.
D. The owner of the property is unknown. -
correct answer ✅Choice D
Property has value only if title can be passed.
Real property can be converted to personal property by
A. severance.
B. substitution.
C. accretion.
D. attachment. -
correct answer ✅Choice A
Severance comes from the word sever, which means to remove by
cutting. For example, trees are real property until they are cut down
and detached from the land.
The task of the appraiser is to
, Pearson Vue Real Estate Salesperson
Practice Exam 1 Questions & Answers
(Grade A+)
A. establish market price.
B. guess at the final contract price.
C. estimate market value.
D. evaluate the property for tax purposes. -
correct answer ✅Choice C
An appraisal is an estimate of market value through an analysis of
data. The actual sales price is defined as "market price."
The theory of using real property as collateral to secure a loan
while retaining the property's use and benefits is called
A. mortgagee.
B. encumbrance.
C. hypothecation.
D. promissory intent. -
correct answer ✅Choice C
When a borrower pledges property to secure a loan while retaining
the property's use and benefits, it is known as hypothecation.
