PRINCIPLES OF REAL ESTATE 1 UPDATED
TEST PAPER SOLVED QUESTIONS FULL
SOLUTION
●● Steering.
Answer: Directing Home Seekers to particular neighborhoods based on
the the fair housing protected classes
●● Blockbusting.
Answer: Real estate agents creating fear in a neighborhood in order to
induce the owner of the houses to sell the properties at a loss to the
agents
●● Equal Credit Opportunity Act of 1974.
Answer: Prohibits discrimination based on race color, etc. and receipt of
income from a public assistance program.
●● Real Property/ Real Estate.
Answer: Land, improvements and the rights to own them
●● Improvements.
Answer: Anything put on the land with the intent of improving the land.
,●● Chattel.
Answer: Personal Property
●● Appurtenances.
Answer: Right or privilege attached to land that goes with the land when
ownership of the land changes.
●● Fixture.
Answer: Something that was personal property and has now become real
estate because it has been attached to the land.
●● Three tests of a fixture.
Answer: A) Method of annexation B)Fitness or adaptation to the
property C) Intention of the parties
●● Trade Fixture.
Answer: Something that is attached to a property under a commercial
lease.
●● Fixity or Permanence of Investment.
Answer: The fact that improvements to the land will take a long time to
pay for them.
, ●● Metes and Bounds.
Answer: Uses distance and directions to define and describe the shape
and boundaries of the property.
●● Datum.
Answer: Used to mark elevation
●● Rectangular Survey System.
Answer: Uses latitude, longitude, standard and baselines to divide earth
into areas
●● Townships.
Answer: Areas of earth = 36 Sq. Miles
●● Unit.
Answer: 1 sq. mile or 640 acres
●● Acre.
Answer: 43,560
●● Recorded Plat.
Answer: When land is divided into plots
TEST PAPER SOLVED QUESTIONS FULL
SOLUTION
●● Steering.
Answer: Directing Home Seekers to particular neighborhoods based on
the the fair housing protected classes
●● Blockbusting.
Answer: Real estate agents creating fear in a neighborhood in order to
induce the owner of the houses to sell the properties at a loss to the
agents
●● Equal Credit Opportunity Act of 1974.
Answer: Prohibits discrimination based on race color, etc. and receipt of
income from a public assistance program.
●● Real Property/ Real Estate.
Answer: Land, improvements and the rights to own them
●● Improvements.
Answer: Anything put on the land with the intent of improving the land.
,●● Chattel.
Answer: Personal Property
●● Appurtenances.
Answer: Right or privilege attached to land that goes with the land when
ownership of the land changes.
●● Fixture.
Answer: Something that was personal property and has now become real
estate because it has been attached to the land.
●● Three tests of a fixture.
Answer: A) Method of annexation B)Fitness or adaptation to the
property C) Intention of the parties
●● Trade Fixture.
Answer: Something that is attached to a property under a commercial
lease.
●● Fixity or Permanence of Investment.
Answer: The fact that improvements to the land will take a long time to
pay for them.
, ●● Metes and Bounds.
Answer: Uses distance and directions to define and describe the shape
and boundaries of the property.
●● Datum.
Answer: Used to mark elevation
●● Rectangular Survey System.
Answer: Uses latitude, longitude, standard and baselines to divide earth
into areas
●● Townships.
Answer: Areas of earth = 36 Sq. Miles
●● Unit.
Answer: 1 sq. mile or 640 acres
●● Acre.
Answer: 43,560
●● Recorded Plat.
Answer: When land is divided into plots
