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Chapter 1

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300 Real Estate Quiz on Chapter 1, created by Ryan Fryer on 14/09/2015.
Ryan Fryer
Quiz by Ryan Fryer, updated more than 1 year ago
Ryan Fryer
Created by Ryan Fryer over 8 years ago
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Resource summary

Question 1

Question
Which phrase best defines real estate?
Answer
  • land and the air above it
  • Land and all things permanently attached by nature
  • Land and all things permanently affixed to it
  • land and the mineral rights in the land

Question 2

Question
The term nonhomogeneity refers to
Answer
  • scarcity
  • immobility
  • uniqueness
  • indestructibility

Question 3

Question
The bundle of legal rights is included in the definition of
Answer
  • land
  • real estate
  • real property
  • trade fixture

Question 4

Question
The bundle of legal rights includes all of the following rights except
Answer
  • possess the property
  • enjoy the property within the framework of the law
  • sell or otherwise convey the property
  • use the property for any purpose

Question 5

Question
All of the following would be considered real estate except
Answer
  • fences
  • buildings
  • growing trees
  • farm equipment

Question 6

Question
Which of the following would not be a consideration when determining whether an item is real property?
Answer
  • Cost of the item when purchased
  • Method of its attachment to other real property
  • Intended use of the item by its owner
  • Manner in which the item is actually used with other real property

Question 7

Question
Which of the following is a physical characteristic of real estate
Answer
  • Indestructibility
  • Permanence of investment
  • Location or area preference
  • Scarcity

Question 8

Question
Real property can be converted into personal property through
Answer
  • severence
  • accession
  • conversion
  • inference

Question 9

Question
The tenant of a single family home installs an awning over the buildings front windows to keep the sun away from some delicate hanging plans. Which of the following is true?
Answer
  • The tenant must remove the awning before the rental period is over
  • Because of its nature, the awning is considered personal property
  • The awning is considered a fixture
  • Because of the nature of the property, the awning is considered a trade fixture

Question 10

Question
A property owner sells the rights to minerals located in the ground to an exploration company. After selling the mineral rights, the owner no longer owns which of the following?
Answer
  • Air rights
  • Surface rights
  • Subsurface rights
  • Air and subsurface rights

Question 11

Question
The terms real estate includes natural components of the land as well as
Answer
  • permanent man-made improvements
  • patents
  • all of the rights conveyed by ownership
  • any trade fixtures

Question 12

Question
The term real estate includes natural components of the land as well as
Answer
  • permanent man-made improvements
  • patents
  • all of the rights conveyed by ownership
  • any trade fixtures

Question 13

Question
Which term refers to anything that can be owned?
Answer
  • Chattel
  • Property
  • Underlying Ownership
  • Residuals

Question 14

Question
The rights, privileges, and improvements that belong to the land and are conveyed when ownership transfers are
Answer
  • attachments
  • appurtenances
  • restrictions
  • improvements

Question 15

Question
Pennsylvania law requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. This is known as the
Answer
  • coal notice
  • subsidence notice
  • coal support
  • subsistence support

Question 16

Question
While moving into a newly purchased home, the buyer discovered that the seller had taken the ceiling fan that hung over the dining room table. The seller had not indicated that the ceiling fan would be removed, and the contract did not address this issue. Which statement is true?
Answer
  • Ceiling fans are normally considered to be real estate
  • The ceiling fan belongs to the seller
  • Ceiling fans are considered trade fixtures
  • Ceiling fans are considered personal proptery

Question 17

Question
A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer gave up which of the following?
Answer
  • Air rights
  • Surface rights
  • Subsurface rights
  • Occupancy rights

Question 18

Question
A homeowner is building an enclosed front porch on his home. A truckload of lumber that the homeowner has purchases has been left in the driveway for use in building the porch. At this point, the lumber is considered
Answer
  • real property because it will be permanently affixed to the existing structure
  • personal property
  • a chattel that is real property
  • a trade or chattel fixture

Question 19

Question
Method of annexation, adaptation to real estate, and agreement between the parties are the legal tests for determining whether an item is
Answer
  • a trade fixture or personal property
  • real property or real estate
  • a fixture or personal property
  • an improvement

Question 20

Question
A buyer is interested in a house that fits most of her needs, but is located in a busy area where she is not sure she wants to live. Her concern about the property's location is called
Answer
  • physical deterioration
  • area preference
  • permanence of investment
  • immobility
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