ASREB National Test A-1 Questions and Answers 100% Verified
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Course
ASREB
Institution
ASREB
ASREB National Test A-1 Questions and Answers 100%
Verified
The sale of personal property would include a: Answer-Bill of Sale
What governmental right requires compensation to private property owners? AnswerEminent Domain
If property is obtained by the state after a person dies, this is called...
ASREB National Test A-1 Questions and Answers 100%
Verified
The sale of personal property would include a: Answer-Bill of Sale
What governmental right requires compensation to private property owners? Answer-
Eminent Domain
If property is obtained by the state after a person dies, this is called: Answer-Escheat
Transfer of real property requires a Answer-Deed
Which of the following would be an economic characteristic of real property?
Non homogeneous
Frozen Asset
Alienation
Governmental rights Answer-Frozen Asset
Which of the following listed below would be considered personal property?
Easement appurtenant
Fixtures
Leasehold Improvements
Promissory Note Answer-Promissory Note
, ASREB National Test A-1 Questions and Answers 100%
Verified
Which of the following would not be included in the bundle of rights of ownership?
Usage
Possession
Sell the property at any time
Refuse to sell under Eminent Domain Answer-Refuse to sell under Eminent Domain
All of the following statements are true regarding discount points EXCEPT:
They increase the lender's yield
They reduce the lenders yield
They are usually 1% of the loan amount
They decrease the loan term Answer-They reduce the lenders yield
Which of the following would be a fixture?
Annual crops
Free standing range
A storage shed attached to a slab
Plants in outside pots Answer-A storage shed attached to a slab
If a homeowners association has additional expenses, how would they be handled?
Each property owner will pay a pro rata share
The association will pay the entire expense
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