Unit 2 Quiz Attempt #4

Unit 2 Quiz Attempt #4

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Question 1 of 30

1. Question
Real Property has the ______ or controls, ____ and use of land and all attached objects.
- Rights, Disposition
- Title
- Disposition, Rights
- Rights, Order
- Order, Rights
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Question 2 of 30

2. Question
“No matter the size, shape, or similarities between two exactly identical parcels each individual parcel is “one of a kind”.” best describes which physical characteristic?
- Immobility
- Indestructibility
- Uniqueness
- None of the above
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Question 3 of 30

3. Question
Which term matches the definition: ______ is the period of time that the ROI (Return on Investment) will be realized over
- Life of Economic
- Economic of Life
- Economic Life
- Life Economic
- None of the above
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Question 4 of 30

4. Question
Which type of Estates Associated with Real Properties best describes the current owner(s) have a deed or irrevocable trust that allows future interest owners to inherit the property?
- Fee Simple
- Life Estate
- Future Interest Ownership
- Contingent Interest
- Lienholder
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Question 5 of 30

5. Question
Some states, not all states, consider ____ and ____ as apart of the land and not subjected to a different set of rules.
- Underground Pipes and Equipment
- Equipment and Buildings
- Buildings and Canals
- Canals and Ponds
- All of the above
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Question 6 of 30

6. Question
______ are firms that hold debt held against a property giving them interest in the property.
- Banks
- Lien estate
- Life estate
- Lien Holders
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Question 7 of 30

7. Question
Define fee simple:
- Are firms which hold debt which is held against a property giving them interest in the property.
- Ownership that belongs to those who will own the property in the future.
- The highest form of ownership interest that can be held by a property owner and gives the most rights.
- Estates where people only own the property during their own life and are not bound to give it away.
Correct

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Question 8 of 30

8. Question
Trees, buildings or ownership rights are known as ___
- Fructus industriales
- Improvements
- Appurtenances
- Natural attachments
- None of the above
Correct

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Question 9 of 30

9. Question
__ refers to things that are permanently attached to the land, physically or legally.
- Run with the land
- Water table
- Severance
- Tenements
- None of the above
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Question 10 of 30

10. Question
When does a mobile home become considered real property?
- it is always considered real property
- as soon as it is affixed to the ground
- one it has been developed
- Once it has been built
Correct

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Question 11 of 30

11. Question
_______ impacts the value of a commodity.
- Scarcity
- Area Preference
- Permanence of Investment
- Texture
Correct

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Question 12 of 30

12. Question
Which is not considered personal property?
- emblements
- a custom built-in staircase
- a chair of sofa
- trade fixtures
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Question 13 of 30

13. Question
How many tests are there to determine if the fixture is to remain with the seller or handed to the buyer?
- 3
- 7
- 9
- 4
- 5
Correct

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Question 14 of 30

14. Question
The right of lateral support:
- Applies to a land owner who is making improvements to his property.
- Property that allows for two uses, commercial and residential, in the same building
- Prohibits the extractor from damaging the natural contour of thee adjoining properties.
- None of the above
- Applies to a land owner who is making improvements to his property & Prohibits the extractor from damaging the natural contour of thee adjoining properties.
Correct

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Question 15 of 30

15. Question
What is a property improvement?
- Artificial attachments
- Natural attachments
- Water tables
- Fixtures
Correct

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Question 16 of 30

16. Question
The term “appreciation” refers to which of the following?
- A parcel of land
- An increase in a value of items
- A property that's decreasing in value
- none of the above
Correct

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Question 17 of 30

17. Question
The cabinets already built in the house that you have just bought are called?
- Fixture
- Personal property
- Private property
- Type of attachment
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Question 18 of 30

18. Question
______ is the name of an unwritten body of law based on general custom in England that is used in some states.
- Casual law
- Common law
- Uncommon law
- It isn't a law
Correct

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Question 19 of 30

19. Question
_____ is the system that a recorded subdivision plat is used.
- lot and block system
- geodetic survey
- rectangular survey system
- metes-and-bounds system
Correct

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Question 20 of 30

20. Question
Johnathan owns a large parcel of land. He has it surveyed into lots and streets, then files a subdivision plat. Which of the following can legally describe each lot?
- metes-and-bounds system
- government survey
- lot and block system
- street address
Correct

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Question 21 of 30

21. Question
What is the definition of economic base?
- the revenue generated in each household in a certain area
- how much a certain area makes
- the ability to sell at a high price
- the ability of a community to attract income and business
Correct

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Question 22 of 30

22. Question
What is a fixture?
- When personal property becomes real property
- Artificial attachments
- Things that are permanently attached to the land whether it be physically or legally.
- The process in which real property becomes personal property
Correct

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Question 23 of 30

23. Question
Which of the following would be identified as “personal property”?
- A garage attached to a house
- The front porch of a home
- The windows in a home
- A sofa
Correct

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Question 24 of 30

24. Question
______ in real estate means that no two parcels are the same.
- immobility
- scarcity
- uniqueness
- indestructibility
Correct

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Question 25 of 30

25. Question
What happens when the supply of the certain commodity increases :
- Price tends to drop.
- Demand for it tends to drop.
- Demand for it tends to rise.
- Price tends to rise.
Correct

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Question 26 of 30

26. Question
Which of the following can be describes as the listing or asking price?
- book value
- market price
- subjective value
- intrinsic value
Correct

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Question 27 of 30

27. Question
All of these are the physical characteristics of land EXCEPT:
- Indestructibility
- Uniqueness
- Movable
- Immobility
Correct

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Question 28 of 30

28. Question
The characteristics of value include which of the following?
- Competition
- Anticipation
- Balance
- Scarcity
Correct

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Question 29 of 30

29. Question
Fixtures attached to land are considered _____
- Public property
- Real property
- Personal property.
- Real property
Correct

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Question 30 of 30

30. Question
Which aspect of real estate is affected by change, contribution and substitution?
- Depreciation
- Value
- Supply
- Demand
Correct

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