REE 3043 Exam 1 Questions and Revised Answers All Correct
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Course
REE 3043
Institution
REE 3043
REE 3043 Exam 1 Questions and Revised Answers All Correct
Which of the following is not correct regarding Timeshares? - Answer-They are a great financial investment.
Leases typically transfer to the tenant, all the rights of the owner, except which of the following? - Answer-Disposition.
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REE 3043 Exam 1 Questions and
Revised Answers All Correct
Which of the following is not correct regarding Timeshares? - Answer-They are a great
financial investment.
Leases typically transfer to the tenant, all the rights of the owner, except which of the
following? - Answer-Disposition.
Which of these liens has the highest priority? - Answer-Property tax lien
What are the laws called that require that a document which conveys an interest in real
property be placed in the public records to be binding on the public? - Answer-
Recording Statutes
The task of examining the evidence, regarding property ownership, in the public records
is known as: - Answer-a title search.
Legal ownership of real property is evidenced by: - Answer-a deed.
The method of "legal descriptions" which has been deemed NOT sufficiently accurate
and durable for legal documents is: - Answer-acre observation
Jose works downtown and pays $700 per month in rent for an apartment 30 miles from
his office. He has calculated that he spends 50 minutes per day driving each way to the
office and it costs him $8 per day in gas and lost productivity. Based on a 20 workday
month, how much would he be willing to pay for an apartment downtown? - Answer-
$860
Locating similar businesses in close proximity (such as clothing stores within a regional
mall) is a pattern used in ___________________ activities. - Answer-comparison
Cities with industry economies tend: - Answer-to be more resistant to economic
downturns due to cost advantages.
Which is NOT a method the federal government uses to influence the real estate
market? - Answer-through zoning regulations.
Real estate markets differ from other asset classes by having all of the following
characteristics except: - Answer-Homogeneous product.
All of the following statements define the role of Real Estate in our economy except: -
Answer-Real Estate generates only 20% of local government revenue (property tax).
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