WASHINGTON REAL ESTATE
FUNDAMENTALS ROCKWELL PRACTICE
SET REVIEW 2026 COMPLETE PAPER
GRADED A+
⩥ Which of the following is NOT associated with personal property?
Answer: Fructus naturales
⩥ A seller has called a broker to schedule an appointment to list her
house. If the seller lists the house, this would be best described as a/an
__________.
Answer: Express agency
⩥ The appraiser is to determine the most probable price that a buyer will
pay for a property. This is known as __________.
Answer: Objective value
⩥ Under the income approach to appraising, which of the following
would be deducted from effective gross income to derive the net
operating income?
Answer: Property taxes and insurance
⩥ The purpose of the capitalization rate is to convert __________.
,Answer: Net income into economic value
⩥ Which of the following parties would have the legal right to transfer
the title to property?
Answer: The party with the legal authority to perform
⩥ A suit to quiet title would be filed under which of the following
circumstances?
Answer: When there is an adverse possession claim on the property
⩥ All of the following are true regarding tenancy in common EXCEPT
that __________.
Answer: Ownership shares must be equal
⩥ Which of the following is NOT a statutory general lien?
Answer: Ad valorem tax lien
⩥ A grantee purchased a property and did not record the deed. Later the
property was transferred to an heir, who sold the property. This would
create a/an __________.
Answer: Gap in the title
⩥ A defeasible fee estate means that title __________.
, Answer: Can be terminated upon the occurrence or nonoccurrence of a
specified event
⩥ Which of the following would be an example of a non-possessory
property interest?
Answer: Easement
⩥ The sales comparison approach is based on the principle of
adjustments. If an appraiser is using this approach, the adjustments
would be made in the __________.
Answer: Comparable property
⩥ Which of the following parties would not be allowed to collect a
commission in a real estate transaction?
Answer: The neighbor who referred the seller
⩥ Which of the following is NOT a duty of the real estate broker?
Answer: To accept offers on behalf of a client
⩥ A seller agreed to list his house for $90,000, but the seller was not
informed by the licensee that the actual value of the property was
$100,000. The licensee purchased the property the day after it was listed.
This is an example of a violation of which of the licensee's
responsibilities?
FUNDAMENTALS ROCKWELL PRACTICE
SET REVIEW 2026 COMPLETE PAPER
GRADED A+
⩥ Which of the following is NOT associated with personal property?
Answer: Fructus naturales
⩥ A seller has called a broker to schedule an appointment to list her
house. If the seller lists the house, this would be best described as a/an
__________.
Answer: Express agency
⩥ The appraiser is to determine the most probable price that a buyer will
pay for a property. This is known as __________.
Answer: Objective value
⩥ Under the income approach to appraising, which of the following
would be deducted from effective gross income to derive the net
operating income?
Answer: Property taxes and insurance
⩥ The purpose of the capitalization rate is to convert __________.
,Answer: Net income into economic value
⩥ Which of the following parties would have the legal right to transfer
the title to property?
Answer: The party with the legal authority to perform
⩥ A suit to quiet title would be filed under which of the following
circumstances?
Answer: When there is an adverse possession claim on the property
⩥ All of the following are true regarding tenancy in common EXCEPT
that __________.
Answer: Ownership shares must be equal
⩥ Which of the following is NOT a statutory general lien?
Answer: Ad valorem tax lien
⩥ A grantee purchased a property and did not record the deed. Later the
property was transferred to an heir, who sold the property. This would
create a/an __________.
Answer: Gap in the title
⩥ A defeasible fee estate means that title __________.
, Answer: Can be terminated upon the occurrence or nonoccurrence of a
specified event
⩥ Which of the following would be an example of a non-possessory
property interest?
Answer: Easement
⩥ The sales comparison approach is based on the principle of
adjustments. If an appraiser is using this approach, the adjustments
would be made in the __________.
Answer: Comparable property
⩥ Which of the following parties would not be allowed to collect a
commission in a real estate transaction?
Answer: The neighbor who referred the seller
⩥ Which of the following is NOT a duty of the real estate broker?
Answer: To accept offers on behalf of a client
⩥ A seller agreed to list his house for $90,000, but the seller was not
informed by the licensee that the actual value of the property was
$100,000. The licensee purchased the property the day after it was listed.
This is an example of a violation of which of the licensee's
responsibilities?
