Test Bank for Real Estate Finance & Investments: 2024 Release by Brueggeman, Fisher
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Course
Real Estate
Institution
Real Estate
Test Bank for Real Estate Finance & Investments: 2024 Release 17th Edition (Latest 2024) by Jeffrey Fisher and William Brueggeman. It has Multiple Choice questions for all chapters and answers are given at the end of every chapter. Complete Chapters are included (Chapter 1 - 23)
PART ONE: OVERVI...
Real Estate Finance & Investments: 2024 Release Test Bank
Answers Included ✅
Chapter 01 2024 Release
1) Real estate refers to the physical land and improvements constructed on the land.
⊚ true
⊚ false
2) Real property refers to the ownership rights associated with real estate.
⊚ true
⊚ false
3) A quitclaim deed says that the grantor "quits" whatever claim he has in the property in favor
of the grantee.
⊚ true
⊚ false
4) The form of government in the U.S. protects the rights of individuals to own real estate and
to enjoy unrestricted real property rights.
⊚ true
⊚ false
5) The term real estate refers to the ownership rights associated with the physical land and
improvements.
⊚ true
⊚ false
6) A fee simple estate is a type of freehold estate.
⊚ true
⊚ false
7) As compared to other types of deeds, a general warranty deed provides the most
comprehensive warranties about the quality of the title to the property.
⊚ true
⊚ false
1
,8) After a house is purchased, contractors cannot ask the new owner of the house to pay any
bills that were outstanding before the house was sold.
⊚ true
⊚ false
9) A reciprocal easement agreement allows two or more parties to access each other's property.
⊚ true
⊚ false
10) A lien waiver provides certification that contractors' liens on newly constructed properties
have been compensated.
⊚ true
⊚ false
11) A lessee is a person who holds the title to a piece of property.
⊚ true
⊚ false
12) The grantee typically conveys title to the grantor by means of a deed.
⊚ true
⊚ false
13) If a lender is to repossess or bring about the sale of a property because of defaults on the
mortgage loan by the borrower, the lender is said to have a __________ in the real estate.
A) freehold interest
B) lease interest
C) secured interest
D) quitclaim
2
,14) A __________ estate represents the most complete form of ownership of real estate; the
owner is free to divide it up into lesser estates and sell, lease, or borrow against them as he or
she wishes.
A) fee simple
B) freehold
C) leasehold
D) life
15) Mr. Ramirez has allowed Mrs. Wilson to run a sewer line through Mr. Ramirez's backyard so
that Mrs. Wilson has access to the city sewer system. This is an example of a(n):
A) easement.
B) encumbrance.
C) estate for years.
D) title assurance.
16) Which type of deed offers the grantee the MOST protection?
A) Quitclaim deed
B) Special warranty deed
C) General warranty deed
D) Officer's deed
17) What term BEST describes a person that owns a property and is conveying title to the
property to another person?
A) Mortgagor
B) Grantor
C) Mortgagee
D) Grantee
18) What type of estate lasts for an indefinite period of time?
A) Freehold estate
B) Estate from year-to-year
C) Leasehold estate
D) Estate for years
3
, 19) Which of the following is NOT a good method of title assurance?
A) Seller provides a warranty in the deed.
B) An attorney searches recorded documents.
C) Title insurance is purchased.
D) Seller provides a quitclaim deed.
20) What legal document conveys title from one person to another?
A) Mortgage
B) Note
C) Deed
D) Debenture
21) A historical summary of the publicly recorded documents that affect the ownership of a
property is known as a(n):
A) estate.
B) deed.
C) abstract of title.
D) lien.
22) A reversion and a remainder are similar in that:
A) both can be sold or mortgaged.
B) both cause the property to go back to the grantor after the sale.
C) neither is an actual interest in the property.
D) neither is considered a future estate.
23) Which of the following is FALSE concerning mechanic's Liens?
A) Gives the right to attach a lien on real estate
B) Can get money through forcing judicial sale
C) Lasts even after the bill for labor and materials has been paid
D) Might not be disclosed by the public records
4
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