ARE YOU READY?
LET’S PRACTICE!
#1. What does the Real Estate Commissioner do?
#2. Which of these is personal property?
#3. Which element makes a contract legally binding?
#4. What does ‘escrow’ mean in a transaction?
#5. What is a trust account used for?
#6. The covenant of seisin guarantees:
#7. How is tenancy in common different from joint tenancy?
#8. What is required to create a valid lease?
#9. What is a common type of voluntary lien?
#10. Which is a characteristic of a FHA loan?
#11. Which is a type of concurrent ownership?
#12. The Truth in Lending Act regulates:
#13. Which document is used to transfer ownership?
#14. The term ‘specific performance’ refers to:
#15. What does a quitclaim deed do?
#16. The statute of frauds requires certain contracts to be:
#17. Which is considered a material fact?
#18. What does the term ‘cloud on title’ mean?
#19. How does the government exercise police power?
#20. Which clause allows foreclosure without court action?
#21. When must a transfer disclosure statement be given?
#22. Which of the following is a type of listing?
#23. Which party is responsible for delivering clear title?
#24. What is an encroachment?
#25. What is an estoppel certificate?
#26. Which of the following is NOT a government power?
#27. What is the difference between real and personal property?
#28. Which law prohibits housing discrimination?
#29. What is the opposite of accretion?
#30. A salesperson can only receive commission from:
#31. A mechanic’s lien must be recorded within:
#32. What is an example of involuntary alienation?
#33. What does ‘time is of the essence’ mean?
#34. A mortgage is typically secured by:
#35. What does a real estate agent owe to their principal?
#36. What is a riparian right?
#37. When is a title considered marketable?
#38. The secondary mortgage market purchases loans from:
#39. How many days does a buyer have to cancel a time-share?
#40. Which item would NOT be considered real property?
#41. The law of agency involves:
#42. A deed must be delivered and:
#43. A wraparound mortgage is:
#44. What is a contingency in a purchase agreement?
#45. The capitalization method is used to appraise:
#46. A license differs from an easement in that it is:
#47. An appraiser’s fee is based on:
#48. A land contract is also known as:
