BSRV4601 FUNDAMENTALS OF REAL
ESTATE 2 APPENDIX PRACTICE
EXAMINATION 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ a property described as follows sold for $1,500 per acre. "beginning at a
bolder go 249' north; then 140' east; then 249' south; then 140' west to the
point of beginning" what was that sale price?1. $3492. $1,2003. $1,5004.
$34,860.
Answer: 2. $1,200
◍ a plat map must be approved by a city before a developer can:1. purchase
the property2. obtain a loan to purchase the land3. hire an attorney to create
a list of deed restrictions for the development 4. list lots for sale.
Answer: 4. list lots for sale
◍ Deanna wants to sue her real estate agent, but finds out that she has no legal
recourse because too many years have passed since the offending incident.
What is this an example of?.
Answer: statute of limitations
◍ Arturo is buying a house for $400,000. He will be making a down payment
of 5%. He already submitted a check for $2,000 as earnest money, which
will be applied to the purchase. How much will Arturo need to pay on
closing day?.
Answer: $18,000
◍ Which part of the mortgage contract requires a borrower to repay the entire
debt when the property is sold?.
Answer: alienation clause
,◍ An appraisal report is a report from a:.
Answer: licensed appraiser that sums up a property's market value based on
collected data
◍ When a tenancy at sufferance occurs, the tenant is referred to as a:.
Answer: holdover tenant
◍ Who can require a buyer to purchase homeowners insurance?.
Answer: lender
◍ if an owner desired more flexibility in selling a property, the owner should
take title:1. as a joint tenant2. in severalty3. a tenant in common4. under
tenancy in the entireties.
Answer: 2. in severalty (one and only one person or company)
◍ What type of permission allows an individual property to deviate from a
specific provision of a zoning ordinance?.
Answer: variance
◍ how is joint tenancy terminated.
Answer: when any of the 4 unities are destroyed (TTIP), suit to partition,
one sells their interest.the buyer could not be a joint tenant due to the unity
of time, so the buyer would come in as a tenant in common. However the
others would continue to be join tenants
◍ When you're talking about mortgages, what is another name for an
origination fee?.
Answer: points
◍ land.
Answer: it goes to the center of the earth up to infinity
◍ What type of listing provides a commission to the broker ONLY if their
activities bring about a sale?*.
Answer: open
◍ in a commercial sale, what document would be used in converting personal
property, such as a detached refrigerator and stove?1. deed2. contract for
, deed3. mortgage4. bill of sale.
Answer: 4. bill of sale
◍ 5,280 feet.
Answer: 1 mile
◍ Ben manages an apartment complex that has an effective gross income of
$100,000. Operating expenses were $60,000. What is the net operating
income of the property?.
Answer: $40,000
◍ A property manager's PRIMARY responsibility to the owner is to:.
Answer: realize the highest return possible and maximize the owner's return
on that investment
◍ What MUST all listing agreements have?.
Answer: a termination date
◍ emblements = personal property.
Answer: seasonal crops
◍ If a borrower is behind on payments, the acceleration clause gives the lender
the ability to:.
Answer: call the entire loan balance due immediately
◍ Which federal law amended the Comprehensive Environmental Response,
Compensation, and Liability Act (CERCLA)?.
Answer: Superfund Amendments and Reauthorization Act (SARA)
◍ An executory contract is a contract that:.
Answer: has not yet been fully performed
◍ Seller Brian tells his listing agent, Cynthia, that there are no foundation
issues in his house. However, there is a huge crack running down the middle
of the living room wall. Cynthia accepts Brian's claim and goes on to tell
prospective buyers that the home's foundation is in fine condition. What did
Cynthia engage in?.
Answer: negligent misrepresentation
, ◍ Tareq represented the seller in the sale of a house for $427,000. The
commission agreed upon was 7% and Tareq gave half to the buyer's
representative. What will he take home if the split with his brokerage is 80%
Tareq - 20% broker?.
Answer: $11,956
◍ What act is prohibited by the Sherman Antitrust Act?.
Answer: price fixing
◍ lot and block system.
Answer: plat map- must be approved by city, new subdivisions, description
lists lot number, block number, subdivision, county and state1. setback
lines: how far back the house is from the street2. front footage: east and west
front of house3. square footage
◍ Which of these is a set of regulations pertaining to building design,
materials, safety, sanitation, and structure?.
Answer: building code
◍ 43,560 sq. ft..
Answer: 1 acre
◍ When an object that was once personal property becomes permanently
attached to real estate, what happens?.
Answer: It becomes a fixture.
◍ In a fixed-rate mortgage that is fully amortized, the total amount of interest
to be paid is:.
Answer: predetermined
◍ The term for when the client initiates the termination of the agency
agreement is known as:.
Answer: revocation
◍ Who must fill out the Seller's Disclosure Notice?.
Answer: seller
◍ Under federal Fair Housing law, which of the following acts is illegal?.
ESTATE 2 APPENDIX PRACTICE
EXAMINATION 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ a property described as follows sold for $1,500 per acre. "beginning at a
bolder go 249' north; then 140' east; then 249' south; then 140' west to the
point of beginning" what was that sale price?1. $3492. $1,2003. $1,5004.
$34,860.
Answer: 2. $1,200
◍ a plat map must be approved by a city before a developer can:1. purchase
the property2. obtain a loan to purchase the land3. hire an attorney to create
a list of deed restrictions for the development 4. list lots for sale.
Answer: 4. list lots for sale
◍ Deanna wants to sue her real estate agent, but finds out that she has no legal
recourse because too many years have passed since the offending incident.
What is this an example of?.
Answer: statute of limitations
◍ Arturo is buying a house for $400,000. He will be making a down payment
of 5%. He already submitted a check for $2,000 as earnest money, which
will be applied to the purchase. How much will Arturo need to pay on
closing day?.
Answer: $18,000
◍ Which part of the mortgage contract requires a borrower to repay the entire
debt when the property is sold?.
Answer: alienation clause
,◍ An appraisal report is a report from a:.
Answer: licensed appraiser that sums up a property's market value based on
collected data
◍ When a tenancy at sufferance occurs, the tenant is referred to as a:.
Answer: holdover tenant
◍ Who can require a buyer to purchase homeowners insurance?.
Answer: lender
◍ if an owner desired more flexibility in selling a property, the owner should
take title:1. as a joint tenant2. in severalty3. a tenant in common4. under
tenancy in the entireties.
Answer: 2. in severalty (one and only one person or company)
◍ What type of permission allows an individual property to deviate from a
specific provision of a zoning ordinance?.
Answer: variance
◍ how is joint tenancy terminated.
Answer: when any of the 4 unities are destroyed (TTIP), suit to partition,
one sells their interest.the buyer could not be a joint tenant due to the unity
of time, so the buyer would come in as a tenant in common. However the
others would continue to be join tenants
◍ When you're talking about mortgages, what is another name for an
origination fee?.
Answer: points
◍ land.
Answer: it goes to the center of the earth up to infinity
◍ What type of listing provides a commission to the broker ONLY if their
activities bring about a sale?*.
Answer: open
◍ in a commercial sale, what document would be used in converting personal
property, such as a detached refrigerator and stove?1. deed2. contract for
, deed3. mortgage4. bill of sale.
Answer: 4. bill of sale
◍ 5,280 feet.
Answer: 1 mile
◍ Ben manages an apartment complex that has an effective gross income of
$100,000. Operating expenses were $60,000. What is the net operating
income of the property?.
Answer: $40,000
◍ A property manager's PRIMARY responsibility to the owner is to:.
Answer: realize the highest return possible and maximize the owner's return
on that investment
◍ What MUST all listing agreements have?.
Answer: a termination date
◍ emblements = personal property.
Answer: seasonal crops
◍ If a borrower is behind on payments, the acceleration clause gives the lender
the ability to:.
Answer: call the entire loan balance due immediately
◍ Which federal law amended the Comprehensive Environmental Response,
Compensation, and Liability Act (CERCLA)?.
Answer: Superfund Amendments and Reauthorization Act (SARA)
◍ An executory contract is a contract that:.
Answer: has not yet been fully performed
◍ Seller Brian tells his listing agent, Cynthia, that there are no foundation
issues in his house. However, there is a huge crack running down the middle
of the living room wall. Cynthia accepts Brian's claim and goes on to tell
prospective buyers that the home's foundation is in fine condition. What did
Cynthia engage in?.
Answer: negligent misrepresentation
, ◍ Tareq represented the seller in the sale of a house for $427,000. The
commission agreed upon was 7% and Tareq gave half to the buyer's
representative. What will he take home if the split with his brokerage is 80%
Tareq - 20% broker?.
Answer: $11,956
◍ What act is prohibited by the Sherman Antitrust Act?.
Answer: price fixing
◍ lot and block system.
Answer: plat map- must be approved by city, new subdivisions, description
lists lot number, block number, subdivision, county and state1. setback
lines: how far back the house is from the street2. front footage: east and west
front of house3. square footage
◍ Which of these is a set of regulations pertaining to building design,
materials, safety, sanitation, and structure?.
Answer: building code
◍ 43,560 sq. ft..
Answer: 1 acre
◍ When an object that was once personal property becomes permanently
attached to real estate, what happens?.
Answer: It becomes a fixture.
◍ In a fixed-rate mortgage that is fully amortized, the total amount of interest
to be paid is:.
Answer: predetermined
◍ The term for when the client initiates the termination of the agency
agreement is known as:.
Answer: revocation
◍ Who must fill out the Seller's Disclosure Notice?.
Answer: seller
◍ Under federal Fair Housing law, which of the following acts is illegal?.
