REAL 4000: Test 1 Quiz questions And
All Correct Answers 2026 Updated.
Which of the following is an example of an affirmative easement appurtenant?
a) an easement to allow fishing on a secluded lake
b) a road right-of-way that runs across the front all subdivided properties in a subdivision
c) a common drive easement where owners of adjoining lots must permit each other to use a
driveway lying on their shared property line
d) an easement used to restrict construction on adjacent parcels so as to preserve a valued view
of the nearby mountains - Answer c)
Which of the following freehold estates has the least amount of rights (from the bundle of
rights: use, possession, and disposition?))
Question options:
a) fee simple absolute
b) fee simple conditional
c) ordinary life estate - Answer c)
Haley and Francesca go in together to purchase 5,120 acres of land to use for filming a massive
reality show. Ten years later, Haley dies and is survived by her spouse, who wants to sell half of
the land on behalf of Haley's estate. Francesca informs the spouse that they have no claim to
the land because, upon Haley's death, her ownership interest transferred to Francesca.
Assuming Francesca is correct, what type of co-ownership did Haley and Francesca have?
Question options:
a) joint tenancy
b) tenancy by the entireties
c) condominium
d) tenancy in common - Answer a)
A fixture is an object that formerly was personal property but has become real property. Of the
following four rules for determining whether an object has become a fixture, which rule always
applies to those items determined to be trade fixtures of tenants in commercial real estate?
Question options:
a) relation of the parties
b) manner of the attachment
c) intention of the parties
d) character of the article and manner of adaptation - Answer a)
, Direct co-ownership implies that each co-owner holds a titled interest in the property but
without exclusive possession with respect to the other co-owners. Which of the following is a
mix fee simple ownership and co-ownership at the same time?
Question options:
a) cooperative
b) joint tenancy
c) tenancy by the entirety
d) condominium
e) tenancy in common - Answer d)
Risk premiums for particular investments are determined in the Space (User) Market.
Question options:True or False - Answer False
The investment-grade (a.k.a. institutional-grade) property market typically includes investment
properties greater than $_____________ in value, which individual investors who directly invest
in real estate usually cannot afford.
Question options:
a) 15,000,000
b) 1,000,000
c) 5,000,000
d) 25,000,000
e) 10,000,000 - Answer e)
Many REITs (Real Estate Investment Trusts), such as office tower owner Boston Properties
(traded as "BXP" on the New York Stock Exchange) are are primarily an example of which sector
of real estate investment?
Question options:
a) Public Equity
b) Private Equity
c) Public Debt
d) Private Debt - Answer a)
Kimi and Wayne go in together to purchase 1 square mile of land to use for their bird watching
club. How many acres of land do they own in total?
Enter your answer below as a whole number (no decimals), and numbers only (no "sf" or
similar). Commas are optional. - Answer 640
All Correct Answers 2026 Updated.
Which of the following is an example of an affirmative easement appurtenant?
a) an easement to allow fishing on a secluded lake
b) a road right-of-way that runs across the front all subdivided properties in a subdivision
c) a common drive easement where owners of adjoining lots must permit each other to use a
driveway lying on their shared property line
d) an easement used to restrict construction on adjacent parcels so as to preserve a valued view
of the nearby mountains - Answer c)
Which of the following freehold estates has the least amount of rights (from the bundle of
rights: use, possession, and disposition?))
Question options:
a) fee simple absolute
b) fee simple conditional
c) ordinary life estate - Answer c)
Haley and Francesca go in together to purchase 5,120 acres of land to use for filming a massive
reality show. Ten years later, Haley dies and is survived by her spouse, who wants to sell half of
the land on behalf of Haley's estate. Francesca informs the spouse that they have no claim to
the land because, upon Haley's death, her ownership interest transferred to Francesca.
Assuming Francesca is correct, what type of co-ownership did Haley and Francesca have?
Question options:
a) joint tenancy
b) tenancy by the entireties
c) condominium
d) tenancy in common - Answer a)
A fixture is an object that formerly was personal property but has become real property. Of the
following four rules for determining whether an object has become a fixture, which rule always
applies to those items determined to be trade fixtures of tenants in commercial real estate?
Question options:
a) relation of the parties
b) manner of the attachment
c) intention of the parties
d) character of the article and manner of adaptation - Answer a)
, Direct co-ownership implies that each co-owner holds a titled interest in the property but
without exclusive possession with respect to the other co-owners. Which of the following is a
mix fee simple ownership and co-ownership at the same time?
Question options:
a) cooperative
b) joint tenancy
c) tenancy by the entirety
d) condominium
e) tenancy in common - Answer d)
Risk premiums for particular investments are determined in the Space (User) Market.
Question options:True or False - Answer False
The investment-grade (a.k.a. institutional-grade) property market typically includes investment
properties greater than $_____________ in value, which individual investors who directly invest
in real estate usually cannot afford.
Question options:
a) 15,000,000
b) 1,000,000
c) 5,000,000
d) 25,000,000
e) 10,000,000 - Answer e)
Many REITs (Real Estate Investment Trusts), such as office tower owner Boston Properties
(traded as "BXP" on the New York Stock Exchange) are are primarily an example of which sector
of real estate investment?
Question options:
a) Public Equity
b) Private Equity
c) Public Debt
d) Private Debt - Answer a)
Kimi and Wayne go in together to purchase 1 square mile of land to use for their bird watching
club. How many acres of land do they own in total?
Enter your answer below as a whole number (no decimals), and numbers only (no "sf" or
similar). Commas are optional. - Answer 640
