Name: Score:
104 Multiple choice questions
Term 1 of 104
Which of the following statements about an easement is true?
an easement is a benefit to the servient property owner
an easement is an encroachment
an easement is a benefit to the dominant property owner
an easement in gross belongs to or passes with the land
Term 2 of 104
A property is listed for $399,500. It sells for $396,000. The negotiated commission is 6% and will
be split evenly between the selling broker and the listing broker. The selling broker pays his sales
associate 60% of the broker's commission. How much does the selling broker earn?
$11,880
$4,752
$7,128
$5,940
Term 3 of 104
What are the requirements/criteria for real estate to have value?
Demand, Utility, Scarcity, Transferability
Demand, Utility, Supply, Taxability
Demand, Usury, Scarcity, Taxability
Deed, Usury, Supply, Transferability
,Term 4 of 104
Which of the following closings would be covered by RESPA?
a mobile home
a retail shopping center
an apartment complex
a condominium
Term 5 of 104
What should a buyer do to ensure that he is getting the best title to real property?
get an attorney's opinion of title
get title insurance
get a special warranty deed
get a general warranty deed
Term 6 of 104
A property owner has a waterfront lot on a stream. He has the right to use the water from the
stream. What is this right called?
riparian
littoral
appropriative
appropriation
,Term 7 of 104
What is a requirement of the CFPB?
Lenders must provide borrowers with the LE form at the
time of or within three business days of application
Lender's must provide borrowers with a good faith
estimate of closing costs
Lender's must provide borrowers with a CD form at the
time of loan application or within three days of
application
The updated CD must be made available to the borrower
at least one business day before closing.
Term 8 of 104
A buyer has purchased a property and after closing the seller will continue to occupy the
property. This is an example of:
subletting
assignment
sale and leaseback
a ground lease
Term 9 of 104
An investor has 15 rent houses. He has hired an agent to lease the houses. Which of the following
actions by the agent would NOT be in violation of fair housing laws?
refusing to show the houses to anyone over 75 years old
refusing to show the houses to any unmarried pregnant
women
refusing to show the houses to any single parents with
children
refusing to show the houses to any Hispanic couples
, Term 10 of 104
What department of the government oversees the FHA insurance program?
HUD
CFPB
EPA
VA
Term 11 of 104
A developer has 2,178,000 sq.ft. of property. He sells 80% of it for $5,000 an acre. What is the total
sale price?
$200,000
$100,000
$250,000
$125,000
Term 12 of 104
How is earnest money recorded on the closing disclosure?
Debit to the seller
Debit to the buyer
Credit to the seller
Credit to the buyer
104 Multiple choice questions
Term 1 of 104
Which of the following statements about an easement is true?
an easement is a benefit to the servient property owner
an easement is an encroachment
an easement is a benefit to the dominant property owner
an easement in gross belongs to or passes with the land
Term 2 of 104
A property is listed for $399,500. It sells for $396,000. The negotiated commission is 6% and will
be split evenly between the selling broker and the listing broker. The selling broker pays his sales
associate 60% of the broker's commission. How much does the selling broker earn?
$11,880
$4,752
$7,128
$5,940
Term 3 of 104
What are the requirements/criteria for real estate to have value?
Demand, Utility, Scarcity, Transferability
Demand, Utility, Supply, Taxability
Demand, Usury, Scarcity, Taxability
Deed, Usury, Supply, Transferability
,Term 4 of 104
Which of the following closings would be covered by RESPA?
a mobile home
a retail shopping center
an apartment complex
a condominium
Term 5 of 104
What should a buyer do to ensure that he is getting the best title to real property?
get an attorney's opinion of title
get title insurance
get a special warranty deed
get a general warranty deed
Term 6 of 104
A property owner has a waterfront lot on a stream. He has the right to use the water from the
stream. What is this right called?
riparian
littoral
appropriative
appropriation
,Term 7 of 104
What is a requirement of the CFPB?
Lenders must provide borrowers with the LE form at the
time of or within three business days of application
Lender's must provide borrowers with a good faith
estimate of closing costs
Lender's must provide borrowers with a CD form at the
time of loan application or within three days of
application
The updated CD must be made available to the borrower
at least one business day before closing.
Term 8 of 104
A buyer has purchased a property and after closing the seller will continue to occupy the
property. This is an example of:
subletting
assignment
sale and leaseback
a ground lease
Term 9 of 104
An investor has 15 rent houses. He has hired an agent to lease the houses. Which of the following
actions by the agent would NOT be in violation of fair housing laws?
refusing to show the houses to anyone over 75 years old
refusing to show the houses to any unmarried pregnant
women
refusing to show the houses to any single parents with
children
refusing to show the houses to any Hispanic couples
, Term 10 of 104
What department of the government oversees the FHA insurance program?
HUD
CFPB
EPA
VA
Term 11 of 104
A developer has 2,178,000 sq.ft. of property. He sells 80% of it for $5,000 an acre. What is the total
sale price?
$200,000
$100,000
$250,000
$125,000
Term 12 of 104
How is earnest money recorded on the closing disclosure?
Debit to the seller
Debit to the buyer
Credit to the seller
Credit to the buyer
