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PRINCIPLES OF REAL ESTATE 1- CHAMPIONS
SCHOOL OF REAL ESTATE EXAM BRAND NEW
ACTUAL EXAM WITH ANSWERS.
1. Which of the following is created when a lease expires and
tenant remains on the premises?
A.) Holdout tenancy
B.) illegal tenancy
C.) Tenancy at sufferance
D.) periodic tenancy - correct answer -C.) Tenancy at
sufferance
2. Tree Limbs from your neighbors property that intrude onto
yours are an example of:
A.) Encroachment
B.) Easement
C.) Appurtenance
D.) Encumbrance - correct answer -A.) Encroachment
3. A form of corporation that is taxed much like a partnerships is
the _____.
A.) C Corporation
B.) S Corporation
C.) Limited Corporation
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D.) CS Corporation - correct answer -B.) S corporation
4. Jill and Adkins are married and live in Texas. They saved for a
number of years and purchased a home. In this case, the form
of ownership is most likely to be:
A.) Separate property
B.) joint property
C.) Community property
D.) Tenants in common - correct answer -C.) community
property
5. The easiest form of organization that gives one individual the
greatest control over a business is the _____.
A.) Partnerships
B.) Sole proprietorship
C.) S corporation
D.) C Corporation - correct answer -b. sole proprietorship
6. When dealing with community property, which of the following
statements is true?
A.) The signature of either spouse is required to sell it
B.) When one spouse dies, the surviving spouse
immediately owns all the property of the deceased.
C.) property inherited by one spouse can remain the
separate property of that spouse.
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D.) Community property is a concept of English law. -
correct answer -B.) When one spouse dies, the
surviving spouse immediately owns all the property of
the deceased.
7. A property is owned by two unmarried individuals without right
of survivorship. The form of ownership is most likely:
A.) Community property
B.) Ownership in severalty
C.) Joint Tenancy
D.) Tenancy in common - correct answer -D.) Tenancy in
common
8. Three co- owners wish to divide their undivided interests in a
property into individually owned tracts of land. This process is
known as an______
A.) Alienation
B.) Lawsuit
C.) Waiver
D.) Partition - correct answer -D.) Partition
9. Dwayne and Beth, each single persons, own a parcel of land
as joint tenants. Beth has a will leaving her entire estate to her
brother, Jason. Upon Beths death, her interest in the land
passes to:
PRINCIPLES OF REAL ESTATE 1- CHAMPIONS
SCHOOL OF REAL ESTATE EXAM BRAND NEW
ACTUAL EXAM WITH ANSWERS.
1. Which of the following is created when a lease expires and
tenant remains on the premises?
A.) Holdout tenancy
B.) illegal tenancy
C.) Tenancy at sufferance
D.) periodic tenancy - correct answer -C.) Tenancy at
sufferance
2. Tree Limbs from your neighbors property that intrude onto
yours are an example of:
A.) Encroachment
B.) Easement
C.) Appurtenance
D.) Encumbrance - correct answer -A.) Encroachment
3. A form of corporation that is taxed much like a partnerships is
the _____.
A.) C Corporation
B.) S Corporation
C.) Limited Corporation
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D.) CS Corporation - correct answer -B.) S corporation
4. Jill and Adkins are married and live in Texas. They saved for a
number of years and purchased a home. In this case, the form
of ownership is most likely to be:
A.) Separate property
B.) joint property
C.) Community property
D.) Tenants in common - correct answer -C.) community
property
5. The easiest form of organization that gives one individual the
greatest control over a business is the _____.
A.) Partnerships
B.) Sole proprietorship
C.) S corporation
D.) C Corporation - correct answer -b. sole proprietorship
6. When dealing with community property, which of the following
statements is true?
A.) The signature of either spouse is required to sell it
B.) When one spouse dies, the surviving spouse
immediately owns all the property of the deceased.
C.) property inherited by one spouse can remain the
separate property of that spouse.
, Page | 3
D.) Community property is a concept of English law. -
correct answer -B.) When one spouse dies, the
surviving spouse immediately owns all the property of
the deceased.
7. A property is owned by two unmarried individuals without right
of survivorship. The form of ownership is most likely:
A.) Community property
B.) Ownership in severalty
C.) Joint Tenancy
D.) Tenancy in common - correct answer -D.) Tenancy in
common
8. Three co- owners wish to divide their undivided interests in a
property into individually owned tracts of land. This process is
known as an______
A.) Alienation
B.) Lawsuit
C.) Waiver
D.) Partition - correct answer -D.) Partition
9. Dwayne and Beth, each single persons, own a parcel of land
as joint tenants. Beth has a will leaving her entire estate to her
brother, Jason. Upon Beths death, her interest in the land
passes to:
