GA REAL ESTATE EXAM - REAL ESTATE PRACTICE TEST QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/| latest update 2024/25|

GA REAL ESTATE EXAM - REAL ESTATE PRACTICE TEST QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ Personal property that, by its attachment to real property, is regarded as real estate is called: A. an emblements B. personalty C. a fixture D. an appliance - -C. a fixture What is the main purpose of police power? A. to protect the health, safety, and welfare of the community B. to prevent people from committing crimes C. to put out fires D. to make sure the property owners and citizens know their place - -A. to protect the health, safety, and welfare of the community If a person has complete control over their property, and the ownership in the property is not defeasible, what interest does the person have in the property? A. fee conditional estate B. fee simple estate C. live estate D. defeasible fee estate - -B. fee simple estate Which of the following is the difference between the value of a property and the total amount of liens against the property? A. investment B. basis C. down payment D. equity - -D. equity A metes-and-bounds legal description: A. can be created for areas excluded from the rectangular survey system B. is not acceptable in a court in most jurisdictions C. must commence and finish at the same identifiable point D. is used only in extreme cases where there is no recorded subdivision plats - -C. must commence and finish at the same identifiable point Your neighbors use a portion of your property to reach their guest apartment, which is on their property. As far as you can tell, you never gave them permission to use your property, and you discuss with your attorney the possibility of preventing the neighbors from using your property. Your attorney explains that the ownership of the neighbors real estate includes an easement appurtenant giving them the right to use that portion of your property. Your property is the: A. leasehold interes