Unit 10 Quiz Attempt #4

Unit 10 Quiz Attempt #4

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Question 1 of 20

1. Question
All are examples of non- ad valorem
taxes except
- road, maintenance tax
- security tax
- property tax
- landscaping tax
- trash disposal tax
Correct

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Question 2 of 20

2. Question
A homestead exemption is
- Tax forgiveness
- Federal loan to encourage homeownership
- A reduction in property taxes
- Tax cancelation
Correct

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Question 3 of 20

3. Question
Tax abatement refers to
- A complete tax forgiveness for unpaid taxes
- A tax exemption for a given time period
- A temporary suspension of property taxes
- A permanent suspension of property taxes
- None of the above
Correct

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Question 4 of 20

4. Question
Homeowners appeal property taxes can
uses which of the following bases for
appeal?
- Denial of homestead exemption
- Taxability
- Equalization
- Value
- All of the above
Correct

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Question 5 of 20

5. Question
Which of the following would not be a possible outcome to a court appeal?
- Full exemption from property tax
- A full reduction
- A partial reduction
- A partial reduction and partial exemption
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Question 6 of 20

6. Question
What is the most common type of tax sale?
- Non-judicial tax sale
- Judicial tax sale
- Foreclosure tax sale
- Judicial tax sale and foreclosure tax sale
Correct

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Question 7 of 20

7. Question
What is the least common type of tax sale?
- tax foreclosure sale
- tax home sale
- tax deed sale
- property tax sale
- owner's tax sale
Correct

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Question 8 of 20

8. Question
If there is an error in a homeowner’s property taxes, who can they contact first to attempt to resolve the issue?
- The local tax assessor
- The IRS
- The federal government
- Homeowners association
- The President
Correct

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Question 9 of 20

9. Question
What is an installment sale?
- No-interest loan from the seller to the buyer
- Agreement between the buyer and the seller for future payments
- A one-time payment to the seller for a property
- None of the above
Correct

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Question 10 of 20

10. Question
What are tax assessors required to do?
- Based property tax according to the location of the property
- Tax fairly and uniformly based on percentage of market value
- Make all adjustments requested by the property owner
- None of the above
- Based property tax according to the location of the property & Tax fairly and uniformly based on percentage of market value
Correct

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Question 11 of 20

11. Question
All of the following are incurred when transferring property except
- Service Tax
- Environment Tax Intangible tax
- Intangible tax
- Service Tax & Environment Tax Intangible tax
Correct

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Question 12 of 20

12. Question
All of the following are main categories of taxes except
- State taxes
- Environmental taxes
- Property taxes
- Federal estate taxes
- All of the above
Correct

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Question 13 of 20

13. Question
All of the following are ways homeowners can appeal their property taxes except
- Appeal to the supreme court
- Appeal to a hearing officer
- Appeal to the county board of equalization
- All of the above
Correct

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Question 14 of 20

14. Question
Who has claim over a property after a tax lien has been placed on the property?
- Creditors
- Agency
- Property owner
- Employers
- Government
Correct

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Question 15 of 20

15. Question
If a property under contract has revealed several outstanding liens against it, which of the following liens has the highest priority?
- A special assessment for the current year
- A judgment lien rendered and recorded last month
- An outstanding first mortgage lien dated and recorded on a year ago
- A property tax lien for the current year
Correct

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Question 16 of 20

16. Question
What is the definition of judgment?
- a personal opinion about real estate
- an opinion of an attorney
- a decision made by a court of law
- an individual's way of making decisions about legal matters
Correct

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Question 17 of 20

17. Question
Which lien matches the circumstance of a property owner who is not paying bills and municipal utilities?
- mechanic lien
- lien for municipal utilities
- bail bond lien
- general lien
Correct

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Question 18 of 20

18. Question
What type of lien can be placed on your property if you default on payment for work that you have done on your property.
- Mortgagor Lien
- Mechanic's lien
- Vendee's Lien
- Attachment Lien
Correct

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Question 19 of 20

19. Question
The ____ is protected under a vendee’s lien
- Seller
- Property
- Buyer
- Creditor
Correct

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Question 20 of 20

20. Question
What sets liens apart from other types of encumbrance?
- It lowers the property value.
- It is created by the property owner voluntarily.
- Rather than attaching to the owner of the property, it attaches to the property itself.
- It involves a monetary claim against the value of a property.
Correct

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