REAE Final Study Guide With Complete SolutionsREAE Final Study Guide With Complete SolutionsREAE Final Study Guide With Complete SolutionsREAE Final Study Guide With Complete SolutionsReal estate is property, which can be either a tangible or an intangible asset. Which of the following would be con...
REAE Final Study Guide With Complete
Solutions
Real estate is property, which can be either a tangible or an intangible asset. Which of
the following would be considered an intangible asset?
A. Land
B. Building
C. Mortgage
D. Motor home - ANSWER-Mortgage
As of 2008, the single largest asset category in the net worth portfolios of households is:
A. government and corporate bonds
B. stocks and mutual fund shares
C. consumer durable goods
D. housing - ANSWER-Housing
Real estate values derive from the interaction of three different sectors in the economy.
Which of the following sectors serves to allocate financial resources among households
and firms requiring funds?
A. User market
B. Capital market
C. Government
D. Local market - ANSWER-Capital Market
Primarily through land use controls and property tax policy, which of the following
branches of government has the largest influence on real estate values?
A. Local government
B. State government
C. National government
D. Foreign government - ANSWER-Local Government
The expected stream of rental income is capitalized into value by converting expected
future cash flows into present value through a process called:
A. amortization
B. discounting
C. compounding
D. accounting - ANSWER-Discounting
Real Estate can be defined as
A. Land and things attached to it - ANSWER-Land and things attached to it
, A fixture is an object that formerly was personal property but has become real property.
Of the following four rules for determining whether an object has become a fixture,
which is the most dominant (i.e. if there is a conflict, which rule prevails)?
A. Manner of the attachment
B. Character of the article and manner of adaptation
C. Intention of the parties
D. Relation of the parties - ANSWER-Intention of the parties
Which of the following types of ownership estates is the most complete bundle of rights,
and therefore carries the greatest value?
A. Fee simple absolute
B. Fee simple conditional
C. Ordinary life estate
D. Legal life estate - ANSWER-Fee simple absolute
Nonposessory interests (i.e. bundles of real property rights that do not include
possession) include all of the following EXCEPT:
A. leasehold interests
B. easements
C. restrictive covenants
D. liens - ANSWER-Leasehold interests
Which of the following is an example of a negative easement appurtenant?
A. A driveway easement across one parcel to another.
B. Rights-of-way for roads.
C. A common drive easement where owners of adjoining lots must permit each other to
use a driveway lying on their shaped property line.
D. A scenic easement used to restrict construction on adjacent parcels so as to
preserve a valued view - ANSWER-A scenic easement used to restrict construction on
adjacent parcels so as to preserve a valued view
A lien is an interest in real property that serves as security for an obligation. Which of
the following is an example of a general lien?
A. Property tax and assessment lien
B. Mortgage lien
C. Lien arising from a court judgment unrelated to ownership of the property
D. Mechanics' lien - ANSWER-Lien arising from a court judgement unrelated to
ownership of the property
Which of the following types of direct co-ownership is a form of joint tenancy for
husband and wife?
A. Tenancy in common
B. Tenancy by the entirety
C. Condominium
D. Partnership - ANSWER-Tenancy by the entirety
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