Principles of Real Estate 1 Exam Questions
and Answers- Champions School of Real
Estate
Question 1
Which of the following are considered personal property and may be harvested by
the owner of the crop?
A.) Trade Fixtures
B.) Fixtures
C.) Severances
D.) Emblements
Correct Answer
D.) Emblements
Question 2
A trust that is created during the lifetime of the trustor is an ___.
A.) Testamentary trust
B.) Inter vivos trust
C.) business trust
D.) None of the above
Correct Answer
B.) Inter vivos trust
Question 3
Which of the following is not one of the categories of estates?
A.) Freehold
B.) Executory
C.) Statutory
D.) Leasehold
Correct Answer
B.) Executory
Page 1 of 23
,Question 4
By failing to maintain sufficient ______, the reduction of the payout of a claim may be
reduced due to the coinsurance clause.
A.) fee simple ownership
B.) Capital gains tax
C.) Insurance coverage
D.) Personal liability
Correct Answer
B.) Capital Gains Tax
Question 5
The supply of Real Estate is affected by
A.) Land cost
B.) Building codes
C.) Government regulations
D.) All of these
Correct Answer
D.) All of these
Question 6
A Freeway has made commuting to a distant suburban neighborhood easier, resulting
in an increase in new home sales. This increase in sales is an example of the economic
characteristics of:
A.) Scarcity
B.) Fixity
C.) Situs
D.) Modification
Correct Answer
D.) Modification
Page 2 of 23
, Question 7
Dwayne and Beth, each single persons, own a parcel of land as joint tenants. Beth has
a will leaving her entire estate to her brother, Jason. Upon Beths death, her interest in
the land passes to:
A.) Jason, because he was named in the will
B.) Jason, because he is her brother
C.) Dwayne, because he is a joint tenant
D.) None of these
Correct Answer
C.) Dwayne. because he is a joint tenant
Question 8
Attending designation courses such as the Accredited Buyers Representative course is
a good way to demonstrate
A.) Integrity
B.) Fidelity
C.) Competency
D.) Perseverance
Correct Answer
A.) Integrity
Question 9
The _____ was passed to ensure that banks would serve the needs of a community in
which they were chartered to do business.
A.) ADA
B.) ECOA
C.) CRA
D.) None of the above
Correct Answer
C.) CRA
Page 3 of 23
and Answers- Champions School of Real
Estate
Question 1
Which of the following are considered personal property and may be harvested by
the owner of the crop?
A.) Trade Fixtures
B.) Fixtures
C.) Severances
D.) Emblements
Correct Answer
D.) Emblements
Question 2
A trust that is created during the lifetime of the trustor is an ___.
A.) Testamentary trust
B.) Inter vivos trust
C.) business trust
D.) None of the above
Correct Answer
B.) Inter vivos trust
Question 3
Which of the following is not one of the categories of estates?
A.) Freehold
B.) Executory
C.) Statutory
D.) Leasehold
Correct Answer
B.) Executory
Page 1 of 23
,Question 4
By failing to maintain sufficient ______, the reduction of the payout of a claim may be
reduced due to the coinsurance clause.
A.) fee simple ownership
B.) Capital gains tax
C.) Insurance coverage
D.) Personal liability
Correct Answer
B.) Capital Gains Tax
Question 5
The supply of Real Estate is affected by
A.) Land cost
B.) Building codes
C.) Government regulations
D.) All of these
Correct Answer
D.) All of these
Question 6
A Freeway has made commuting to a distant suburban neighborhood easier, resulting
in an increase in new home sales. This increase in sales is an example of the economic
characteristics of:
A.) Scarcity
B.) Fixity
C.) Situs
D.) Modification
Correct Answer
D.) Modification
Page 2 of 23
, Question 7
Dwayne and Beth, each single persons, own a parcel of land as joint tenants. Beth has
a will leaving her entire estate to her brother, Jason. Upon Beths death, her interest in
the land passes to:
A.) Jason, because he was named in the will
B.) Jason, because he is her brother
C.) Dwayne, because he is a joint tenant
D.) None of these
Correct Answer
C.) Dwayne. because he is a joint tenant
Question 8
Attending designation courses such as the Accredited Buyers Representative course is
a good way to demonstrate
A.) Integrity
B.) Fidelity
C.) Competency
D.) Perseverance
Correct Answer
A.) Integrity
Question 9
The _____ was passed to ensure that banks would serve the needs of a community in
which they were chartered to do business.
A.) ADA
B.) ECOA
C.) CRA
D.) None of the above
Correct Answer
C.) CRA
Page 3 of 23
