Quiz
Chapter 8
Fragen in diesem Quiz (20)
1Which of the following best refers to the type of lien that affects all real and personal property of a debtor?
- ASpecific Lien
- BVoluntary Lien
- CInvoluntary Lien
- DGeneral Lien
2Priority of Liens refers to the
- Aorder in which a debtor assumes responsibility for payment of obligations
- Border in which liens will be paid if property is sold by court order to satisfy a debt
- Cdates liens are filed for record: the lien with the earliest recording date will always take priority over other liens
- Dfact that specific liens have greater priority than general liens
3A lien on real estate made to secure payment for specific municipal improvements to a parcel of real estate is
- Aa mechanics lien
- Ba special assessment
- Can ad valorem tax
- Da utility lien
4Which of the following is classified as a general lien?
- AMechanic's lien
- BBail bond lien
- CJudgement
- DAd valorem real estate taxes
5In disbursing funds from a foreclosure sale, the highest priority would usually be given to
- Aa mortgage dated last year
- Breal estate taxes due
- Ca mechanic's lien for work started before the mortgage was made
- Da judgement rendered the day before foreclosure
6A specific parcel of real estate has a market value of $180,000 and is assessed for tax purposes at 25% of market value. The tax rate for the county in which the property is located is 30 mills. The tax bill will be
- A$450
- B$650
- C$900
- D$1,350
7The cost of public services is distributed among real estate owners through
- Apersonal property tax
- Bsales tax
- Creal property tax
- Dspecial assessment
8A mechanic's lien claim arises when a general contractor has performed work or provided material to improve a parcel of real estate on the owner's order and the work has not been paid for. Such a contractor has a right to
- Atear out the work
- Brecord a notice of the lien
- Crecord a notice of the lien and file a court suit within the time required by state law
- Dhave personal property of the owner sold to satisfy the lien
9What is the annual real estate tax on a property valued at $135,000 and assessed for tax purposes at $47,250 with an equalization factor of 125 percent, when the tax rate is 25 mills?
- A$945
- B$1,181
- C$1,418
- D$1,477
10Which of the following is a voluntary, specific lien?
- AIRS tax lien
- BMechanics Lien
- CMortgage Lien
- DSeller's lien
11A seller sold a buyer a parcel of real estate. Title has passed, but to date the buyer has not paid the purchase price in full, as originally agreed on. To force payment, the seller should seek
- Aan attachment
- Ba mechanic's lien
- Ca lis pendens
- Da judgement
12A general contractor will soon file a suit against a homeowner for nonpayment. The contractor just learned that the homeowner has listed the property for sale with a real estate broker. In this situation, to protect the contractor's interest, the contractor's attorney will use
- Aa seller's lien
- Ba buyer's lien
- Can assessment
- Da lis pendens
13Which statement most accurately describes special assessment liens?
- AThe are general liens
- BThey are paid on a monthly basis
- CThe take priority over mechanics' liens
- DThey cannot be prepaid in full without penalty
14Which of the following is a lien on real estate?
- AAn easement running with the land
- BAn unpaid mortgage loan
- CAn encroachment
- DA license
15Both a mortgage lien and a judgement lien
- Amust be entered by the court
- Binvolve a debt
- Care general liens
- Dare involuntary liens
16A mechanic's lien would be available to all of the following except
- Asuppliers who provided materials used in construction
- Bsubcontractors employed by a general contractor
- Ca surveyor who prepared a survey of a subdivision
- Da broker employed by a builder to market homes in a new subdivision
17Taxes levied for the operation of the government are called
- Aassessment taxes
- Bad valorem taxes
- Cspecial assessments
- Dimprovement taxes
18All of the following would probably be exempt from real estate taxes except
- AA medical research facility
- Ba public golf course
- Ca community church
- Dan apartment building
19In what time frame, if any, is Pennsylvania contractor permitted to file a mechanic's lien?
- AWithin six months of the completing the work
- BAnytime before the transfer of title
- Cup to one year after beginning the work
- DWithin six months of starting the work
20The property owners on whose land the city recently installed sidewalks will pay for these sidewalks through
- Aa special assessment
- Ban ad valorem tax
- Cmonthly billings
- Da municipal utility lien
Informationen
- Beschreibung
- 300 Real Estate Quiz am Chapter 8, erstellt von Ryan Fryer am 06/10/2015.
- Autor
- Ryan Fryer
- Sprache
- English
- Aufrufe
- 219
- Schlagwörter
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