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Home Or Acket Homeor acket Congratulationson choosingpRO-ED as sou estateeducation. All of our PRO-ED staff at willdo ourvery best at making isap experience. To makethis learningexperience you will be requiredto havegood studyhabits. lt is recommendedto a minim hoursoutside of classstudying on yourown. Tohelp you we haveprepared some The homework pagesare markedas to e cha will coverthe chapter. lf youshould have any questions or better,please let usknow. Congratulations,now lets go to work. Thanksfrom the staffat PRO-ED. PRO-ED's Mini-Quiz for Chapter 2. ll of the following are consideredreal property xcept: 1. If a stateacquires property of an individualfor the minerals purposeof buildinga highway,it obtainstitle by . trees action basedon: firewood a. quiet title action house adversepossession eminentdomain I , land is characterizedby all ofthe d. easementproceeding llowing qualities except: fixity 2. Real property is defined as: homogeneity a. the land, exclusive of all improvements permanence b. the improvements,exclusive of the land nonhomogeneity !n whateveris erected,growing upon, or affixed - land ll of the following are true except: d. the land and anything erectedor affrxed to it, real properfy may be taxed by the government real property may be acquired by the govemment if the owner doesnot leavea will and hasno 3. Which of the following is(are)a test(s)of a fi heirs a. the intent of the owner fixturesare personal property that cem become b. the method of the annexation realproperty when attached to the reralproperty c. the adaptationof the properfy personaland real property are one and the same fl aflofthese $a definitions with words 4- Thecombination of privilegesownership of real propertygives is referredto as: propertywhich becomesreal properg F a. littoralrights b. riparianrights left a will b c. surfaceand subsurface rights a bundleof rights ight of governmentto control use of lard f i J 5. The right of the governmentto imposerestrictions propefty o d controls upon privately owned land is known g/' police power ion of land 'nI b. bundleof rights c. littoral rights ift of realestate by will f,,- d. escheat on to a will d, 6. If personalproperty is included in a real estate transaction,title to the personalproperty passesto individualright to own land ; chaserby: bill of sale in of land through build-up of soil €.: a deed c. a certificate of sale ll legalrights attached to property a d. a quitclaim deed 7. Reversionof propertyto the sovereignstate upon deathof a personwho leavesno will and has no ndle of rights is: icil a. encumbrance ion escheat res descent d. eminentdomain tus lodial PRO-ED's Mini-Quiz for Chapter 3. following facts are true: an acre contains 43,560 squarefeet 1. _Ihe southboundary of theNW 1i4 ofthe SW 1i4 a township contains 36 sections I t32ofeet both of these b. 1790 feet neither of these c. 2640 feet d. 5280 feet linesare used in surveyingfor the 2. The map that recitesthe boundariesof an areaof to correct mistakesmade by surveyors land as surveyedis referred to as a: to compensatefor the curvatureof the earth a. landmark both ofthese I Ptut neither of these c. monument d. abstract measurementand establishmentof the aries of a particular property, usually identified 3. Underthe rectangularsurvey system, a check: metalstakes embedded in the groundor the I. contains16 townships of the lot line, is known as: [. contains32 townships meridians and baselines III. is 24 milessquare survey IV. is 5280feet on all sides correctionlines a. I only platting b. II only c. Iandtr definitions with words J t andIII milessquare, or l6 townshipsi 4. A sectioncontains one square mile, thusa square1 mile on eachside would contain: 31560square feet 6 a. 640 acres b. 320acres .5 feet [,1 16oacres D d. U0acres inesrunning north and south "1 5. All of the followingare hue of the metesand tains36 sections descriptionof property,except: a. all unitsof measure sedin plattingsubdivisions b b. useof naturaland artificial monuments c. thereis a point of beginning q acres6[ useof meridiansand base lines I of anarea ( 6. A parcelof landsix milessquare in the rectangu surveysystem is a: rfiarkerset by surveyorf a. check b. section feet O- I township -1[ range ile and block svstem 7. Metesrefers to: a. streetaddress b. landmarksand monuments measurementsand distances ! T a meetingof theminds PRO-ED's Mini-Quiz for Chapter 5. A condition or covenantin a deed which prohibits in usesof the propertyis: 1. All of the following are included in a deed restriction a. granting clause reversion b. consideration alienationclause c. legal description a liability clause of grantee {ienature habendumclause can best be describedas: 2. A personacquiring real property by deed is: an acknowledgment a. vendee to have and to hold clause a deliverv clause e . none ofthese d. trustee ing definitions with words 3. The following is incompatible with ajoint a. survivorship 11. ip for a person'srire f b. possession 12. paymentof a debt ll'"n"*o. ownersnlp . $ nt that stipulatesuse of propenty q.-, 4. A freeholdestate includes all of the following, except: r ofpossession a. feesimple title J b. life estate a wife has in husband'sestate I leaseholdestate fee simple conditional sirnple title b 5. Warrantiesof a quit claimdeed include: torwarrants only his or herownerstrip a. covenantof seizin I b. quietenjoyment a husbandhas in wife'sestate q" c. freedomfrom encumbrances warrantiesare contained in a quit claim ld estate )"o "t 6. Uponproper execution of a deed,title is underoath Q a. whenthe saleis closed deliveryof the deed abstractis extended d. uponrecordation ofthe deed rtesy thanfreehold 7. All of the following are methodsof holding title, ftnowledgment except: f8 estate a. tenantsin common of trust b. joint tenancy deed interest of seizin 8. From the standpoint of the grantor in a deed conveying real property, which of the following deedscreates the most liability? a. quitclaim deed b. bargainand sale deed c. specialwarranty deed - warranw deed ]-eeneral PRO-EDis Mini-Quiz for Chapter 6. 8. Tht contriactin which bothparties promise to perfrrrm isa 1 A contract entered into for other than a lesal a. unilateralcontract would be considered: b. unenfbrceablecontract ^. 4., unenforceable executorycontract L void bilateral - contract c. valid fl d. voidable ual oontractis best defined as: a conllractbetween two people for the purposeof 2. A contractin which performancewill take place fulfilling an intent later date. agentsfrom two different companiesare involved executorvcontract 1| in the transaction b. executedcontract a sirrglecontract with a dual purpose c. bilateral contract a secondoontract written for purposesof obtaining d. implied contract # a larger loan from the lender 3. The conhactsmost commonly used in realestate 10.A defectis bestdefined as: hansactionsinclude all of the following,except: a. a derfeptthat the prudent buyer can see a. listingcontract b. an olcl del'ect b. purchasecontract a derferctthat is hidden from view c. a mortgage I cl. a brealchof contract by the seller * abstract f M{tch delfinitionswith words 4. All of the following constitutereasons a contract not be completedexcept: ll d. the property is destroyedby fire one of the partieschanges his/her mind 12. ion deathof one of the parties $ d. the contractis unenforceable 13. and acceptanceh 5. A contractis bestdescribed as: 14. voluntaryagreement between two or more rJ f " to performa legalact 15.Vo contract b b. a lawful objectonly whenwritten by an i c. a documentthat must be completedwithin six 16.Im ied contract-l monthsfrom the time it waswritten d. a verbal agreementbetween fwo or more 17. tory'contractI 6. The law that forbids prior verbal or written ev to 18. del'ect Q vary the terms of a contract. a. dual rule clontraci-A- b. specific performance parolevidence rule performance f,, uniformcommercial code pl iseon partof bothparties 7. An optionagreement need not include: ill purpose a. a specificprice hi liom view b. a definitetime for whichthe optionis availab ex,changeof promise u promiseby theoptionee cou rem<ldy,compelling compliance -TI a promiseby the optionor per anlcenot completed sub ic,nol'a newcontract ing o[minds by an act too long in assertinglegal right PRO-ED'sMini-Quiz for Chapter 7. definitions with words 1. Theperson who has no representationis the c ialagency a. true J agency {^ nt works as an agentfor the listing Lr agency L 3. The agentwho works for two principals in the transactionis a subagent? <\ a. true I 4. A dualagent works only for the sellerin a a. true I u*rn.,f l9 agency 5. The buyer may representhimself when I 20 b. false a. b. ipnshipof faith, trust,and confidentialitv buyermay hire an agent to representhis c. r who hiresanother to act true on his behalif d. is hiredto performa specific false act e. t representsbuyer and seller in a transaction f. betweenagent -J.. No and buyer agencyrelationship is formedunder the faci g D' nts the seller through cept? the listing agernt h. hasnQreprresentation true i. iqnshripbetween seller and listing false agent j. to transactall the principal'saftrirs 8. Therealestate agent is usuallyhired as a general a. fue J false 9. The agentowes the client complete allegiance,but beftbe fair andhonest with the customer? J, true b.. falsel 10. Compensationmust be paid by the personwho hi the agent to representhim? a. true jtatse the salespersonis awareof marketconditions and marketvalues estatebroker may do all of the follovring,exr:ept: managereal property perform abstractingservices leas;ereal property sell
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