aceable principles II exam practice with answers
1. Mary dies, and in a handwritten will with no witness, gifts her house to her
grandson. Mary has created what kind of will?
a. testamentary
b. holographic
c. harmonious
d. automatic: b. holographic
2. Sally and Jorge are a married couple who own a house together. The couple
has one adult daughter, Emilia. When Jorge dies intestate, who receives the
house?
a. Sally receives the house
b. Emilia receives the house
c. Both Sally and Emilia receive one-half
d. Sally receives one-third; Emilia receives the rest: a. Sally receives the house
3. Voluntary Alienation is:
a. the method by which property is transferred from the current owner to
another party either by sale or gift
b. the method by which property is transferred from the current owner to the
state for tax deductions
c. the concept of an owner willingly giving up their property for public use
d. the concept of an owner willingly giving up their property for use in a
tax sale: a. the method by which property is transferred from the current owner to
another party either by sale or gift
4. A valid deed will:
a. contain a copy of the title
b. state it as a conveyance
c. list all applicable liens
d. be signed by an attorney-in-fact: b. state it as a conveyance
5. A foreclosure property is purchased at a sheriff's sale. The buyer, Aviv, is
responsible for fees such as:
a. paying the sheriff and penalties
b. property taxes and penalties
,aceable principles II exam practice with answers
c. interest and third-part financing fees
d. paying the sheriff and property taxes: b. property taxes and penalties
6. What is inverse condemnation?
a. the power of government or public entity to take private property for public
use without consent of the property owner
b. an interest in real property that affords a person the right to make limited
use of another person's real property
c. involuntary transfer of title from an owner who does not use or inspect their
land for a number of years to another person who has some claim to the land
and takes possession
d. when the government has over-regulated a property so that it can't be fairly
used via restriction, permitting, etc., that virtually eliminate any use of the
property: d. when the government has over-regulated a property so that it can't
be fairly used via restriction, permitting, etc., that virtually eliminate any use of the
property
7. Adverse possession requires:
a. permanent structures to be built
b. secret use of a property
c. a contract for deed
d. open, notorious, and continuous use of a property: d. open, notorious, and
continuous use of a property
8. The right of one party to access or use the land of another is a(n):
a. encroachment
b. assessment
c. easement
d. lien: c. easement
9. John has an easement appurtenant that allows him to cross Sally's land.
Sally is selling her property. When Sally's property sells, John will:
a. have to go to court to keep his easement
b. not have a problem as easements run with the land
c. lose his right to use Sally's property
d. hopefully be able to reason with the new owner: b. not have a problem as
easements run with the land
,aceable principles II exam practice with answers
10. Which deed provides the grantee with the least protection of any deed?
a. quitclaim deed
b. deed in trust
c. bargain and sale deed
d. general warranty deed: a. quitclaim deed
11. Voluntary alienation is the method by which property is transferred from
the current owner to another party by:
a. sale or gift
b. foreclosure or short sale
c. a title survey
d. equitable redemption: a. sale or gift
12. If a document is to be recorded concerning real or personal property, it
MUST:
a. contain a legal property description with a seal of authenticity from the
lender
b. be signed by the grantor in front of two or more witnesses (or an authorized
officer)
c. contain all of the seller's brokerage information
d. contain sworn statements of conveyance from all involved parties: b. be
signed by the grantor in front of two or more witnesses (or an authorized officer)
13. In order to present the offer, the buyer's agent will contact the seller's agent
and present the offer via:
a. phone call or by mail
b. personal presentation or by phone
c. personal presentation or by mail
d. personal presentation or an electronic version of the offer: d. personal
presentation or an electronic version of the offer
14. The buyer MUST receive a copy of their Closing Disclosure by:
a. the day before closing, at the latest
b. the week before closing, at the latest
, aceable principles II exam practice with answers
c. three calendar days prior to closing
d. three business days prior to closing: d. three business days prior to closing
15. What are three conditions shared by most residential sales contracts?
a. good title. agent commission, and modifications
b. good title, financing, and property inspection
c. financing, buyer approval, and property inspection
d. financing, modifications, and buyer approval: b. good title, financing, and
property inspection
16. A home inspector's report requires investigations that will take several
days to complete. What two options does the buyer have?
a. negotiate an option period extension or seize the earnest money
b. cancel the transaction or negotiate an option period extension
c. cancel the transaction or sue the seller
d. sue the seller or seize the earnest money: b. cancel the transaction or negotiate
an option period extension
17. Who are possible attendees at the closing of a real estate transaction?
a. attorneys and real estate agents
b. lender's representatives and appraisers
c. appraisers and county sheriff
d. sellers and county sheriff: a. attorneys and real estate agents
18. True or False: The sale of the property closes after the buyer's loan clos-
es.: False
19. Once a sales contract is signed by all parties, TREC requires the broker
deposit the earnest money by the end of the:
a. fourth business day
b. fifth business day
c. second business day
d. third business day: c. second business day
20. The intent of TRID is to:
a. help agents select the best mortgage brokers for them and to protect them
from illegal kickbacks
b. help borrowers select the best mortgage for them and to protect them from
abusive lending practices
c. help borrowers get lower interest rates
1. Mary dies, and in a handwritten will with no witness, gifts her house to her
grandson. Mary has created what kind of will?
a. testamentary
b. holographic
c. harmonious
d. automatic: b. holographic
2. Sally and Jorge are a married couple who own a house together. The couple
has one adult daughter, Emilia. When Jorge dies intestate, who receives the
house?
a. Sally receives the house
b. Emilia receives the house
c. Both Sally and Emilia receive one-half
d. Sally receives one-third; Emilia receives the rest: a. Sally receives the house
3. Voluntary Alienation is:
a. the method by which property is transferred from the current owner to
another party either by sale or gift
b. the method by which property is transferred from the current owner to the
state for tax deductions
c. the concept of an owner willingly giving up their property for public use
d. the concept of an owner willingly giving up their property for use in a
tax sale: a. the method by which property is transferred from the current owner to
another party either by sale or gift
4. A valid deed will:
a. contain a copy of the title
b. state it as a conveyance
c. list all applicable liens
d. be signed by an attorney-in-fact: b. state it as a conveyance
5. A foreclosure property is purchased at a sheriff's sale. The buyer, Aviv, is
responsible for fees such as:
a. paying the sheriff and penalties
b. property taxes and penalties
,aceable principles II exam practice with answers
c. interest and third-part financing fees
d. paying the sheriff and property taxes: b. property taxes and penalties
6. What is inverse condemnation?
a. the power of government or public entity to take private property for public
use without consent of the property owner
b. an interest in real property that affords a person the right to make limited
use of another person's real property
c. involuntary transfer of title from an owner who does not use or inspect their
land for a number of years to another person who has some claim to the land
and takes possession
d. when the government has over-regulated a property so that it can't be fairly
used via restriction, permitting, etc., that virtually eliminate any use of the
property: d. when the government has over-regulated a property so that it can't
be fairly used via restriction, permitting, etc., that virtually eliminate any use of the
property
7. Adverse possession requires:
a. permanent structures to be built
b. secret use of a property
c. a contract for deed
d. open, notorious, and continuous use of a property: d. open, notorious, and
continuous use of a property
8. The right of one party to access or use the land of another is a(n):
a. encroachment
b. assessment
c. easement
d. lien: c. easement
9. John has an easement appurtenant that allows him to cross Sally's land.
Sally is selling her property. When Sally's property sells, John will:
a. have to go to court to keep his easement
b. not have a problem as easements run with the land
c. lose his right to use Sally's property
d. hopefully be able to reason with the new owner: b. not have a problem as
easements run with the land
,aceable principles II exam practice with answers
10. Which deed provides the grantee with the least protection of any deed?
a. quitclaim deed
b. deed in trust
c. bargain and sale deed
d. general warranty deed: a. quitclaim deed
11. Voluntary alienation is the method by which property is transferred from
the current owner to another party by:
a. sale or gift
b. foreclosure or short sale
c. a title survey
d. equitable redemption: a. sale or gift
12. If a document is to be recorded concerning real or personal property, it
MUST:
a. contain a legal property description with a seal of authenticity from the
lender
b. be signed by the grantor in front of two or more witnesses (or an authorized
officer)
c. contain all of the seller's brokerage information
d. contain sworn statements of conveyance from all involved parties: b. be
signed by the grantor in front of two or more witnesses (or an authorized officer)
13. In order to present the offer, the buyer's agent will contact the seller's agent
and present the offer via:
a. phone call or by mail
b. personal presentation or by phone
c. personal presentation or by mail
d. personal presentation or an electronic version of the offer: d. personal
presentation or an electronic version of the offer
14. The buyer MUST receive a copy of their Closing Disclosure by:
a. the day before closing, at the latest
b. the week before closing, at the latest
, aceable principles II exam practice with answers
c. three calendar days prior to closing
d. three business days prior to closing: d. three business days prior to closing
15. What are three conditions shared by most residential sales contracts?
a. good title. agent commission, and modifications
b. good title, financing, and property inspection
c. financing, buyer approval, and property inspection
d. financing, modifications, and buyer approval: b. good title, financing, and
property inspection
16. A home inspector's report requires investigations that will take several
days to complete. What two options does the buyer have?
a. negotiate an option period extension or seize the earnest money
b. cancel the transaction or negotiate an option period extension
c. cancel the transaction or sue the seller
d. sue the seller or seize the earnest money: b. cancel the transaction or negotiate
an option period extension
17. Who are possible attendees at the closing of a real estate transaction?
a. attorneys and real estate agents
b. lender's representatives and appraisers
c. appraisers and county sheriff
d. sellers and county sheriff: a. attorneys and real estate agents
18. True or False: The sale of the property closes after the buyer's loan clos-
es.: False
19. Once a sales contract is signed by all parties, TREC requires the broker
deposit the earnest money by the end of the:
a. fourth business day
b. fifth business day
c. second business day
d. third business day: c. second business day
20. The intent of TRID is to:
a. help agents select the best mortgage brokers for them and to protect them
from illegal kickbacks
b. help borrowers select the best mortgage for them and to protect them from
abusive lending practices
c. help borrowers get lower interest rates
