Real Estate Principles and Practice
NEBRASKA Final Exam Questions And
Correct Detailed Answers.
The demand for real estate would be affected by which of the following? a. Demographics b.
Construction Costs c. Government Policy d. Construction Labor Available - Answer
Demographics
Which of the following is real property? a. Land b. Permanent Human-made additions c. Bundle
of Legal Rights d. All the Above - Answer D. All of the above
Which of the following is an economic characteristic of land? a. Immobility b. Modification c.
Indestructibility d. Non-homogeneity - Answer B. Modification
_________ property and can be removed by the tenant. is fixture that remains personal 4. a.
Fixture b. Trade Fixture С. Emblements d. B & C - Answer d. B & C
The concept of bundle of rights refers to a. Sales Contract b. Definition of Real Property C.
Escheat d. Severance - Answer b. Definition of Real Property
All the following are personal property, except? a. Furnace b. Table Lamp C. Bedroom Set d.
Outdoor Grill - Answer a. Furnace
A(n).___________is a type of interest in real estate that does not rise to the level of ownership
or possession, yet still gives an individual, business, or other entity some degree of use or
control of the property. a. Eminent Domain b. Escheat С. Encumbrance d. Steering - Answer C.
Encumbrance
A ________is simply the business of bringing parties together; A _________is licensed perform
real estate activities on behalf of a licensed real estate a. Brokerage; Salesperson; Broker b.
Broker; Salesperson; Brokerage c. Salesperson; Broker; Brokerage d. Salesperson; Brokerage;
Broker - Answer a. Brokerage; Salesperson; Broker
Which of the following are types of real property? a. Residential b. Special purpose c. Industrial
d. All the Above - Answer d. All the Above
, All the following are legal methods of describing real estate except: a. Metes and Bounds b. Lot
and Block C. Rectangular Survey d. Community Property - Answer d. Community Property
Which of the following statements is false? a. 1 Rod equals 16.5 Feet b. 1 Square Mile equals
640 Acres C. 1 Acre equals 43,580 Square Feet d. 1 Mile equals 5,280 Feet - Answer C. 1 Acre
equals 43,580 Square Feet
______________ is a method of acquiring title to real property without the owner's consent
and following statutory requirements. a. Adverse Possession b. Monopoly с. Веquest d.
Beneficiary - Answer a. Adverse Possession
Requirements for making a will include: a. Legal Age b. Sound Mind C. Free Will d. All the Above
- Answer d. All the Above
_____________occurs when two or more businesses conspire against another business or
agree to withhold their patronage to reduce competition. a. Price Fixing b. Tie-in Agreements c.
Group Boycott d. Allocation of Funds - Answer c. Group Boycott
In most states, written documents that affect land must be recorded... a. With the local
chamber of commerce b. In the state capitol where the land is located C. In the county where
the land is located d. With the federal government - Answer C. In the county where the land is
located
Requirements for a Valid Deed in the state of Nebraska include a. Notary b. Habendum c.
Grantor Signature d. All the above - Answer d. All the above
What type of deed transfers ownership of property to someone else to hold or manage for the
benefit of a third party? a. Special Warranty Deed b. Quitclaim Deed C. Deed of Trust d. General
Warranty Deed - Answer C. Deed of Trust
A real estate broker was responsible for a chain of events that resulted in the sale of a client's
property. The proper term for this is: a. Pro forma b. Procuring cause c. Private offering d.
Proffered offer - Answer b. Procuring cause
Which of the following is not covered by a standard title insurance policy A. forged documents
b. incorrect marital statements c.Unrecorded rights of parties in possession d. Incompetent
grantors - Answer c. Unrecorded rights of parties in possession
NEBRASKA Final Exam Questions And
Correct Detailed Answers.
The demand for real estate would be affected by which of the following? a. Demographics b.
Construction Costs c. Government Policy d. Construction Labor Available - Answer
Demographics
Which of the following is real property? a. Land b. Permanent Human-made additions c. Bundle
of Legal Rights d. All the Above - Answer D. All of the above
Which of the following is an economic characteristic of land? a. Immobility b. Modification c.
Indestructibility d. Non-homogeneity - Answer B. Modification
_________ property and can be removed by the tenant. is fixture that remains personal 4. a.
Fixture b. Trade Fixture С. Emblements d. B & C - Answer d. B & C
The concept of bundle of rights refers to a. Sales Contract b. Definition of Real Property C.
Escheat d. Severance - Answer b. Definition of Real Property
All the following are personal property, except? a. Furnace b. Table Lamp C. Bedroom Set d.
Outdoor Grill - Answer a. Furnace
A(n).___________is a type of interest in real estate that does not rise to the level of ownership
or possession, yet still gives an individual, business, or other entity some degree of use or
control of the property. a. Eminent Domain b. Escheat С. Encumbrance d. Steering - Answer C.
Encumbrance
A ________is simply the business of bringing parties together; A _________is licensed perform
real estate activities on behalf of a licensed real estate a. Brokerage; Salesperson; Broker b.
Broker; Salesperson; Brokerage c. Salesperson; Broker; Brokerage d. Salesperson; Brokerage;
Broker - Answer a. Brokerage; Salesperson; Broker
Which of the following are types of real property? a. Residential b. Special purpose c. Industrial
d. All the Above - Answer d. All the Above
, All the following are legal methods of describing real estate except: a. Metes and Bounds b. Lot
and Block C. Rectangular Survey d. Community Property - Answer d. Community Property
Which of the following statements is false? a. 1 Rod equals 16.5 Feet b. 1 Square Mile equals
640 Acres C. 1 Acre equals 43,580 Square Feet d. 1 Mile equals 5,280 Feet - Answer C. 1 Acre
equals 43,580 Square Feet
______________ is a method of acquiring title to real property without the owner's consent
and following statutory requirements. a. Adverse Possession b. Monopoly с. Веquest d.
Beneficiary - Answer a. Adverse Possession
Requirements for making a will include: a. Legal Age b. Sound Mind C. Free Will d. All the Above
- Answer d. All the Above
_____________occurs when two or more businesses conspire against another business or
agree to withhold their patronage to reduce competition. a. Price Fixing b. Tie-in Agreements c.
Group Boycott d. Allocation of Funds - Answer c. Group Boycott
In most states, written documents that affect land must be recorded... a. With the local
chamber of commerce b. In the state capitol where the land is located C. In the county where
the land is located d. With the federal government - Answer C. In the county where the land is
located
Requirements for a Valid Deed in the state of Nebraska include a. Notary b. Habendum c.
Grantor Signature d. All the above - Answer d. All the above
What type of deed transfers ownership of property to someone else to hold or manage for the
benefit of a third party? a. Special Warranty Deed b. Quitclaim Deed C. Deed of Trust d. General
Warranty Deed - Answer C. Deed of Trust
A real estate broker was responsible for a chain of events that resulted in the sale of a client's
property. The proper term for this is: a. Pro forma b. Procuring cause c. Private offering d.
Proffered offer - Answer b. Procuring cause
Which of the following is not covered by a standard title insurance policy A. forged documents
b. incorrect marital statements c.Unrecorded rights of parties in possession d. Incompetent
grantors - Answer c. Unrecorded rights of parties in possession
