PSI national real estate exam practice
test 1 already passed
All of the following would be considered real property EXCEPT ✔✔a leasehold estate
The servient estate in an easement appurtenant is the property ✔✔on which the easement is
placed
Which of the following statements concerning encumbrances is NOT true ✔✔All encumbrances
are liens
Which of the following is NOT a specific lien ✔✔State inheritance taxes
You have entered into a lease that requires you to pay 20% of the owners expenses. Your lease
would be an example of a ✔✔net lease
If a husband and wife own an apartment building and the husband owns an undivided three-
fourths interest and the wife owns a one-fourth interest, what type of tenancy exists?
✔✔Tenancy in common
, The highest form of ownership interest a person may hold in real estate is ✔✔fee simple
Two unrelated people own a three-unit apartment building as tenants in common. One wants to
sell but the other does not which of the following statement describes the legal rights of the party
who wants to sell? ✔✔The party may request a court to partition the building
Your aunt died in-estate and you inherited her house, The way in which you acquired the title to
her house is by ✔✔descent
All of the following statements correctly describe a legal life estate EXCEPT ✔✔During his or
her life estate, the life tenant is generally answerable to the holder of the future interest
A time share estate isn't a ✔✔lease hold estate
A state wants to build a publicity owned convention center to attract private development in its
largest city. Can the state use eminent domain to acquire the land ✔✔Yes, if just compensation is
paid to the owners of the land
test 1 already passed
All of the following would be considered real property EXCEPT ✔✔a leasehold estate
The servient estate in an easement appurtenant is the property ✔✔on which the easement is
placed
Which of the following statements concerning encumbrances is NOT true ✔✔All encumbrances
are liens
Which of the following is NOT a specific lien ✔✔State inheritance taxes
You have entered into a lease that requires you to pay 20% of the owners expenses. Your lease
would be an example of a ✔✔net lease
If a husband and wife own an apartment building and the husband owns an undivided three-
fourths interest and the wife owns a one-fourth interest, what type of tenancy exists?
✔✔Tenancy in common
, The highest form of ownership interest a person may hold in real estate is ✔✔fee simple
Two unrelated people own a three-unit apartment building as tenants in common. One wants to
sell but the other does not which of the following statement describes the legal rights of the party
who wants to sell? ✔✔The party may request a court to partition the building
Your aunt died in-estate and you inherited her house, The way in which you acquired the title to
her house is by ✔✔descent
All of the following statements correctly describe a legal life estate EXCEPT ✔✔During his or
her life estate, the life tenant is generally answerable to the holder of the future interest
A time share estate isn't a ✔✔lease hold estate
A state wants to build a publicity owned convention center to attract private development in its
largest city. Can the state use eminent domain to acquire the land ✔✔Yes, if just compensation is
paid to the owners of the land
