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ASREB Practice EXAM VERSION 1-3 WITH 600+
QUESTIONS AND CORRECT VERIFIED ANS WERS
LATEST UPDATE JUST RELEASED THIS YEAR
ASREB PRACTICE VERSION 1
Question: A buyer pays 20% down and obtains a real estate mortgage. The buyer makes no
further payments. What clause would the lender now exercise?
A) alienation
B) habendum
C) novation
D) acceleration - CORRECT ANSWER✔✔D
Question: When a new home is still under construction, the County Assessor may
A) increase the assessed value ration.
B) increase the full cash value.
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C) decrease the tax rate.
D) appeal the limited property value. - CORRECT ANSWER✔✔B
Question: A contract has been signed, but title has not yet been passed. The contract is
A) executed.
B) executory.
C) recorded
D) estopped. - CORRECT ANSWER✔✔B
Question: A handicapped person is leasing a house that requires modification. Which of the
following is TRUE about the modification?
A) The lessor may forbid handicapped modifications.
B) The lessor can require the lessee to reasonably restore the property at the end of the lease.
C) The lessor must pay for the modifications.
D) The lessor can increase the rent due to the risk of the handicapped person. - CORRECT
ANSWER✔✔B
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Question: A holdover tenant would have a(n)
A) estate at sufferance.
B) estate at well.
C) freehold estate.
D) remainder estate. - CORRECT ANSWER✔✔A
Question: Which of these property classifications is used for vacant land?
A) Class 1
B) Class 2
C) Class 3
D) Class 4 - CORRECT ANSWER✔✔B
Question: A house costs $100,000. The buyer is making a down payment of $32,000 and
getting a $68,000 loan. If there are 4 points, how much money will be paid out of the closing for
the points?
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A) $400
B) $1,280
C) $2,720
D) $4,000 - CORRECT ANSWER✔✔C
$68,000 X 0.04 = $2,720
Question: A lender refuses to loan or limits loans in a certain minority neighborhood. This
action is called
A) steering.
B) blockbusting.
C) redlining.
D) territory allocation. - CORRECT ANSWER✔✔C
Question: A lessee puts in a bookcase for commercial use; at the end of the lease the bookcase
is removed. The bookcase would be considered
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SUCCESS!
ASREB Practice EXAM VERSION 1-3 WITH 600+
QUESTIONS AND CORRECT VERIFIED ANS WERS
LATEST UPDATE JUST RELEASED THIS YEAR
ASREB PRACTICE VERSION 1
Question: A buyer pays 20% down and obtains a real estate mortgage. The buyer makes no
further payments. What clause would the lender now exercise?
A) alienation
B) habendum
C) novation
D) acceleration - CORRECT ANSWER✔✔D
Question: When a new home is still under construction, the County Assessor may
A) increase the assessed value ration.
B) increase the full cash value.
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C) decrease the tax rate.
D) appeal the limited property value. - CORRECT ANSWER✔✔B
Question: A contract has been signed, but title has not yet been passed. The contract is
A) executed.
B) executory.
C) recorded
D) estopped. - CORRECT ANSWER✔✔B
Question: A handicapped person is leasing a house that requires modification. Which of the
following is TRUE about the modification?
A) The lessor may forbid handicapped modifications.
B) The lessor can require the lessee to reasonably restore the property at the end of the lease.
C) The lessor must pay for the modifications.
D) The lessor can increase the rent due to the risk of the handicapped person. - CORRECT
ANSWER✔✔B
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Question: A holdover tenant would have a(n)
A) estate at sufferance.
B) estate at well.
C) freehold estate.
D) remainder estate. - CORRECT ANSWER✔✔A
Question: Which of these property classifications is used for vacant land?
A) Class 1
B) Class 2
C) Class 3
D) Class 4 - CORRECT ANSWER✔✔B
Question: A house costs $100,000. The buyer is making a down payment of $32,000 and
getting a $68,000 loan. If there are 4 points, how much money will be paid out of the closing for
the points?
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A) $400
B) $1,280
C) $2,720
D) $4,000 - CORRECT ANSWER✔✔C
$68,000 X 0.04 = $2,720
Question: A lender refuses to loan or limits loans in a certain minority neighborhood. This
action is called
A) steering.
B) blockbusting.
C) redlining.
D) territory allocation. - CORRECT ANSWER✔✔C
Question: A lessee puts in a bookcase for commercial use; at the end of the lease the bookcase
is removed. The bookcase would be considered
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