Commercial Real Estate includes all of the following EXCEPT:
a. Office buildings for sale
b. apartments for rent
c. retail space for lease
d. fast-food restaurants for lease
b. Apartments for rent
In general, when the supple of a certain commodity increases,
a. Price tends to rise
b. Price tends to drop
c. Demand for it tends to rise
d. Demand for it tends to drop
b. Prices tend to drop
Property management, appraisal, financing and development are all examples of
a. factors affecting demand
b. specializations within the real estate industry
c. professions outside the real estate industry
d. government regulation of the real estate indust
specializations within the real estate industry
A major manufacturer of automobiles announces that it will relocate one of its factories, along with 2,000 employees, to a small town. What effect will this announcement MOST likely have on the small town's housing market?
Houses will likely become more expensive as a result of this announcement
A Realtor is:
a. A specially licensed real estate professional who acts as a point of contact between two or more people in negotiating the sale, purchase, or rental of property.
b. Any real estate broker or salesperson who assists buyers, sellers, landlo
d. a real estate license who is a member of the national association of Realtors
All of the following factors affect supply in the real estate except
a. The labor force
b. Construction costs
c. Government controls
d. Demographics
d. Demographics
4. Which factor is MOST likely to influence demand for real estate?
a. Number of real estate brokers in the area
b. Number of full-time real estate salespeople in the area
c. Wage levels and employment opportunities
d. Price of new homes being built in th
c. Wage levels and employment opportunities
8. A licensee who has several years of experience in the industry decided to retire from actively marketing properties. Now this licensee helps clients choose among the various alternatives involved in purchasing, using, or investing in property. What is
a. Real estate counselor
When the supply of a commodity decrease while demand remains the same
a. Price tends to rise
b. Price tends to drop
c. Price tends to not be affected
d. Price tends to go in the direction of supply
a. Price tends to rise
When responsible for maintaining a client's property and maximizing the return on the client's investment, a broker is serving as a
a. Rental agent
b. Building maintenance specialist
c. Property manager
d. Investment counselor
c. Property manager
In general, when the demand for a certain commodity increase,
a. prices tend to drop
b. preices tend to remain level
c. prices tend to rise.
d. prices can no longer be established
c. prices tend to rise.
Realtor is a registered mark that real estate licenses may use only if they are a member of
a. NAREB
b. NAR
c. ASA
d. BOMA
b. NAR
A typical service provided by an agency would include
a. providing funds for real estate transactions
b. a visual examination of a residential building
c. managing an apartment building
d. closing a real estate transaction
d. closing a real estate transaction
The words broker and Realtor are:
a. interchangeable
b. different categories of membership in the National Association of Realtors.
c. different titles offered by separate professional organizations.
d. unrelated; a broker is a real estate licensee, and a
d. unrelated; a broker is a real estate licensee, and a Realtor is a member of the National Association of Realtors.
Real estate generally includes all the following
EXCEPT
a. trees.
b. air rights.
c. annual crops.
d. mineral rights.
c. annual crops.
A woman rents space in a commercial building where she operates a bookstore. In the bookstore, she has installed large reading tables fastened to the walls and bookshelves that create aisles from the front of the store to the back. These shelves are bolte
b. The shelves and tables are trade fixtures and may properly be removed by the woman before her lease expires.
Another term for personal property is
a. realty.
b. fixtures.
c. chattels.
d. fructus naturales.
c. chattels.
The term nonhomogeneity refers to
a. scarcity.
b. immobility.
c. uniqueness.
d. indestructibility.
c. uniqueness.
bowling alleys, store shelves, and restaurant equipment are examples of
a) real property.
b) real estate.
c) trade fixtures.
d) general fixtures.
c) trade fixtures.
Which of the following is physical characteristic of land?
a) Indestructibility
b) Improvements
c) Area preference
d) Scarcity
a) Indestructibility
Which of the following describes the act by which real property can be converted into personal property?
a) Severance
b) Accession
c) Conversion
d) Separation
a) Severance
When moving into a newly purchased home, the buyer discovered that the seller had taken the electric lighting fixtures that had been installed over the vanity in the bathroom at the time of purchase. The seller had not indicated that the fixtures would be
a) Lighting fixtures are normally considered to be real estate.
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?
a) Air rights
b) Surface rights
c) Subsurface rights.
d) Occupancy rights
c) Subsurface rights.
Jerome is building a new enclosed front porch on his home. A truckload of lumber that he purchased has been left on his driveway for use in building the porch. At this point, the lumber is considered to be
a) real property, because it will be permanently
b) personal property.
Sam inherited Rolling Hills from his uncle. The first thing he did with the vacant property was to remove
all the topsoil, which he sold to a landscaping company. Sam then removed a thick layer of limestone and
sold it to a construction company. Finally,
b) Pat inherits a large hole in the ground, because the property goes down to the center of the earth.
The buyer and the seller of a home are debating whether a certain item is real or personal property. The
buyer says it is real property and should convey with the house; the seller says it is personal property and would not convey with-out a separate bill
a) The cost of the item when it was purchased
Parking spaces in multiunit buildings, water rights, and similar things of value are classified as
a) covenants.
b) emblements.
c) chattels.
d) appurtenances.
d) appurtenances.
a man purchases a parcel of land in a natural forest and cuts down all the trees and constructs a large shed out of old sheets of rusted tin. which of the following statements are true?
a. his actions constitutes as improvement of the property
b. his shed
a. his actions constitutes as improvement of the property
The real cost of owning a home includes certain costs or expenses that many people tend to overlook. All of the following are costs or expenses of owning a home EXCEPT:
a. Interest paid on borrowed capital
b. Homeowners insurance
c. Maintenance and repair
d. Taxes on personal property
The phrase bundle of legal rights is properly
included in
a. the definition of real property.
b. a legal description.
c. real estate transactions.
d. leases for less than one year.
a. the definition of real property.
A building that is remodeled into residential units and is no longer used for the purpose for which it was originally built is an example of
a(n)
a. converted-use property.
b. urban homesteading.
c. planned unit development.
d. modular home.
a. converted-use property.
A high-rise development that includes office space, stores, theaters, and apartment units is an example of which of the following?
a. Planned unit development
b. Mixed-use development
c. Proprietary lease properties
d. Special cluster zoning
b. Mixed-use development
a typical home homeowners insurance policy covers all of the following EXCEPT:
a. The cost of medical expenses for a person injured in the policyholder's home
b. Theft
c. Vandalism
d. Flood damage
d. Flood damage
A man wants to buy his first home but doesn't know how much he can afford to pay. He has a gross monthly income of $3,000. According to the traditional lender's rule of thumb formula, what is the total housing expense (principal, interest, taxes, and insu
b. $840
Which of the following BEST expresses the
concept of equity?
a. Current market value - capital gain
b. Current market value - property debt
c. Current market value - cost of land
d. Replacement cost - depreciation
b. Current market value - property debt
Most homeowners' insurance policies contain
which clause?
a. Property improvement clause
b. Coinsurance clause
c. Co-ownership clause
d. Property devaluation clause
b. Coinsurance clause
All of the following are duductable from a homeowner's gross income EXCEPT:
a. mortgage interest payments on a principal residence
b. real estate taxes (except for interest on overdue taxes)
c. the gain realized from the sale or exchange of a principal re
c. the gain realized from the sale or exchange of a principal residence
the profit a homeowner receives from the sale of his or her residence
a. is the homeowner's tax basis
b. may be excluded from taxation if the homeowner meets certain use and ownership requirements
c. is always considered taxable gain for tax purposes
d. r
b. may be excluded from taxation if the homeowner meets certain use and ownership requirements
while in the employ of the real estate broker, a salesperson has the authority to
a. list properties in his or her own name
b. assume responsibilities assigned by the broker
c. accept a commission from another broker
d. advertise property on his or her ow
b. assume responsibilities assigned by the broker
a licensee who is paid in a lump sum and who is personally responsible for paying his or her own taxes is probably a
a) transactional broker.
b) buyer's agent.
c) independent contractor.
d) employee.
c) independent contractor.
Which of the following statements best explains the meaning of this sentence: "To recover a commission for brokerage services, a broker must be employed as the agent of the seller"?
a) The broker must work in a real estate office.
b) The seller must have
b) The seller must have made an express or implied agreement to pay a commission to the broker for selling the property.
Margot is a licensed real estate salesperson. Her written contract with broker George specifies that she
is not an employee. In the last year, just less than half of Margot's income from real estate activity came
from sales commissions. The remainder was
b) Employee
A real estate broker learns that her neighbor wishes to sell his house. The broker knows the property well and is able to persuade a customer-buyer to make an offer for the property. The broker then asks the neighbor if she can present an offer from the p
a) The neighbor is not obligated to pay the broker a commission.
A broker would have the right to dictate which of the following to an independent contractor?
a) Number of hours the person would have to work
b) Work schedule the person would have to follow
c) Minimum acceptable dress code for the office
d) Commission r
d) Commission rate the person would earn
Licensees Fred and Rick were found guilty of conspiring with each other to allocate real estate brokerage markets. Lucy suffered a $90,000 loss because of their activities. If Lucy brings a civil suit against Fred and Rick, what can she expect to recover?
d) $270,000 plus attorney's fees and costs
Jim and Ruth are both salespersons who work for NMN Realty. One afternoon, they agree to divide their town into a northern region and a southern region. Jim will handle listings in the northern region, and Ruth will handle listings in the southern region.
a) The agreement between Jim and Ruth does not violate antitrust laws.
A state has recently updated its Rules and Regulations for the Real Estate Profession. Assuming this state is like all other states and provinces, which of the following statements is true regarding this publication?
a) The rules and regulations are state
c) The rules and regulations are a set of administrative rules adopted by the state Real Estate Commission
that define the statutory license law and have the same force and effect as the license law itself.
Louise is a skilled salesperson at Alpha Realty. After a particularly challenging transaction finally closes, the client gives her a check for $500 "for all your extra work." Which of the following statements is accurate?
a) While such compensation is irr
b) Louise may receive compensation only from her broker.
A broker has established the following office policy: "All listings taken by any salesperson associated
with this real estate brokerage must include compensation based on a 7 percent commission. No lower commission rate is acceptable." If the broker attem
d) The broker may, as a matter of office policy, legally set the minimum commission rate acceptable for the
firm.
under ohio law, the consumer guide to agency relationships must be given to the prespective purchasers/tenants
a. after they are shown the property
b. at an open house
c. at the closing table
d. before any offers to purchase or lease are prepared or prese
d. before any offers to purchase or lease are prepared or presented
The legal relationship between a broker and seller is generally:
a. special agency
b. general agency
c. universal agency
d. none of the above
a. special agency
In a real estate transaction, the term fiduciary typically refers to the:
a. sale of real property
b. person who gives someone else the legal power to act on his or her behalf.
c. person who has legal power to act on behalf of another.
d. agent's relation
d. agent's relationship to the principal.
Which statement is TRUE of a real estate broker acting as the agent of the seller?
a. The broker is obligated to render loyalty to the seller.
b. The broker can disclose confidential information about the seller to a buyer if it increases the likelihood o
a. The broker is obligated to render loyalty to the seller.
In a dual agency situation, a broker may represent both the seller and the buyer if:
a. the broker informs either the buyer or the seller of this fact.
b. the buyer and the seller are related by blood or marriage.
c. both parties give their informed conse
c. both parties give their informed consent, usually in writing, to the dual agency.
Which event will terminate an agency in a broker-seller relationship?
a. The broker discovers that the market value of the property is such that an adequate commission will not be earned.
b. The owner declares personal bankruptcy.
c. The owner abandons th
b. The owner declares personal bankruptcy.
A real estate broker hired by an owner to sell a parcel of real estate must comply with:
a. the common law of agency, even if a state agency statute exists.
b. dual agency requirements.
c. the concept of caveat emptor.
d. all lawful instructions of the ow
d. all lawful instructions of the owner.
A licensee is hired as a buyer's agent by a first time buyer to help the buyer purchase a home. The buyer confides that being approved for a mortgage loan may be complicated by the fact that the buyer filed for bankruptcy two years ago. The buyer would li
b. required to disclose it because it is a material fact-information important to the seller's evaluation of the offer.
A broker tells a prospective buyer, "This property has the most beautiful river view. In fact, the view includes the river and the back of a shopping center." Which statement is TRUE?
a. The broker has committed fraud.
b. The broker is guilty of negligent
d. The broker is merely puffing.
A real estate broker's responsibility to keep the principal informed of all the facts that could affect a transaction is the duty of:
a. Care
b. Disclosure
c. Obedience
d. Accounting
b. Disclosure
A real estate broker acting as the agent of the seller:
a. must promote and safeguard the seller's best interest.
b. can disclose the seller's minimum price.
c. should present to the seller only the highest offer for the property.
d. can accept an offer o
a. must promote and safeguard the seller's best interest.
After a hearing, the Ohio Real Estate Commission may suspend or revoke the license of the licensee who
a. has violated any of the provisions of the ohio license law
b. is not a realtor
c. is being sued in court.
d. accepts an advance fee to promote the sa
a. has violated any of the provisions of the ohio license law
appointments to the Ohio Real Estate Commission are made by the
a. director of commerce
b. superintendent of real estate
c. secretary of state
d. governor
d. governor
A listing taken by a real estate salesperson is technically an employment agreement between the seller
and the
a) broker.
b) local multiple-listing service.
c) salesperson.
d) salesperson and broker together.
a) broker.
Which of the following is a similarity between an exclusive-agency listing and an exclusive-right-to-sell
listing?
a) Under each, the seller retains the right to sell the real estate without the broker's help and without paying
the broker a commission.
b)
c) Both types of listings give the responsibility of representing the seller to one broker only.
A seller has listed a property under an exclusive-agency listing with a broker. If the seller sells the property personally during the term of the listing to someone who learns about the property through the seller, the seller will owe the broker
a) no co
a) no commission.
Under a listing agreement, the broker is entitled to sell the property for any price, as long as the seller
receives $85,000. The broker may keep any amount over $85,000 as a commission. This type of listing is
called a(n)
a) exclusive-right-to-sell listi
d) net listing.
Which of the following is a similarity between an open listing and an exclusive-agency listing?
a) Under each, the seller avoids paying the broker a commission if the seller sells the property to someone
the broker did not procure.
b) Each grants a commis
a) Under each, the seller avoids paying the broker a commission if the seller sells the property to someone
the broker did not procure.
Which of the following statements is true of a listing contract?
a) It is an employment contract for the professional services of the broker.
b) It obligates the seller to convey the property if the broker procures a ready, willing, and able buyer.
c) It
a) It is an employment contract for the professional services of the broker.
A seller hired Lana, a broker, under the terms of an open listing. While that listing was still in effect, the
seller�without informing Lana�hired Frank under an exclusive-right-to-sell listing for the same property.
If Lana produces a buyer for the prope
c) full commission to both Lana and Frank.
Which of the following is true of an open buyer agency listing?
a) The buyer may enter into agreements with multiple brokers and be obligated to pay only the broker who
locates the property that the buyer ultimately purchases.
b) While the buyer may enter
a) The buyer may enter into agreements with multiple brokers and be obligated to pay only the broker who
locates the property that the buyer ultimately purchases.
Nancy, a broker, and Jim enter into an exclusive-agency buyer agency agreement. What does this
mean?
a) Jim is obligated to compensate Nancy, regard-less of who locates the property ultimately purchased.
b) Nancy is entitled to payment only if she or any
b) Nancy is entitled to payment only if she or any broker acting under her authority locates the property Jim ultimately purchases.
Which of the following statements is true of a competitive market analysis (CMA)?
a) A CMA is the same as an appraisal.
b) A CMA can help the seller price the property.
c) By law in most states, a CMA must be completed for each listing taken.
d) A CMA sho
b) A CMA can help the seller price the property.
All of the following would permit a listing agreement for residential property to be terminated EXCEPT
a) destruction of the listed property.
b) seller dissatisfaction with the wording of a newspaper advertisement.
c) seller's unreasonable refusal to perm
b) seller dissatisfaction with the wording of a newspaper advertisement.
A written agreement between a broker and a client includes the following language: "In return for the
compensation agreed upon, Broker will assist Client in locating and purchasing a suitable property. Broker
will receive the agreed compensation regardles
c) Exclusive buyer agency agreement
The right of a government body to take owner-ship of real estate for public use is called
a) escheat.
b) eminent domain.
c) condemnation.
d) police power.
b) eminent domain.
Joan owned the fee simple title to a vacant lot adjacent to a hospital and was persuaded to make a gift of the lot. She wanted to have some control over its use, so her attorney prepared her deed to convey ownership of the lot to the hospital "so long as
c) fee simple determinable.
After Dan had purchased his house and moved in, he discovered that his neighbor regularly used Dan's driveway to reach a garage located on the neighbor's property. Dan's attorney explained that ownership of the neighbor's real estate includes an easement
d) the servient tenement.
If the owner of real estate does not take action against a trespasser before the statutory period has passed, the trespasser may acquire the legal authority to continue using the property through
a) an easement by necessity.
b) a license.
c) title by emin
d) an easement by prescription.
A property owner wants to use water from a river that runs through the property to irrigate a potato field. To do so, the owner is required by state law to submit an application to the Department of Water Resources describing in detail the beneficial use
c) Doctrine of prior appropriation
Property deeded to a town "for recreational purposes only" conveys a
a) fee simple absolute.
b) conditional fee estate.
c) leasehold interest.
d) determinable fee.
b) conditional fee estate.
A property owner who has the legal right to cross over a neighbor's land holds a(n):
a) estate in land.
b) easement.
c) police power.
d) encroachment.
b) easement.
Which of the following is not a legal life estate?
a) Leasehold
b) Curtesy
c) Homestead
d) Dower
a) Leasehold
A father conveys ownership of his residence to his daughter but reserves for himself a life estate in the residence. The interest the daughter owns during her father's lifetime is
a) pur autre vie.
b) a remainder.
c) a reversion.
d) a leasehold.
b) a remainder.
Kevin has fenced his property. By mistake, the fence extends one foot over Kevin's lot line onto a neighbor's property. The fence is an example of a(n)
a) license.
b) encroachment.
c) easement by necessity.
d) easement by prescription.
b) encroachment.
A homeowner may be allowed certain protection from judgments of creditors as a result of his state's
a) littoral rights.
b) curtesy rights.
c) homestead rights.
d) dower rights.
c) homestead rights.
Katie has permission from Todd to hike on his property during the autumn months. Katie has
a) an easement by necessity.
b) an easement by condemnation.
c) riparian rights.
d) a license.
d) a license.
Which of the following statements about encumbrances on real estate is true?
a) Easements and encroachments are always encumbrances on the land that is subject to them.
b) The presence of an encumbrance makes it impossible to sell the encumbered property.
a) Easements and encroachments are always encumbrances on the land that is subject to them.
A tenant who rents an apartment from the owner of the property holds a(n)
a) easement.
b) license.
c) freehold interest.
d) leasehold interest.
d) leasehold interest.
Because a homeowner failed to pay her real estate taxes on time, the taxing authority imposed a claim against her property. This claim is known as a(n)
a) deed restriction.
b) lien.
c) easement.
d) reversionary interest.
b) lien.
A parcel of property was purchased by two friends, Kevin and Zelda. The deed they received from the
seller at closing conveyed the property "to Kevin and Zelda" without further explanation. Kevin and Zelda
took title as which of the following?
a) Joint te
b) Tenants in common
Mary, Nick, and Oliver are joint tenants with rights of survivorship in a tract of land. Oliver conveys his
interest to Violet. Which of the following statements is true?
a) Mary and Nick are still joint tenants.
b) Mary, Nick, and Violet are joint tenant
a) Mary and Nick are still joint tenants.
Ann owns one of 20 townhouses in the Luxor Lakes development in fee simple, along with a 5 percent
ownership share in the parking facilities, recreation center, and grounds. What kind of property does Ann
own?
a) Cooperative
b) Condominium
c) Time-share
d
b) Condominium
Paul conveys a vineyard in trust to Ruth, with the instruction that any income derived from the vineyard
be used for Tanya's medical care. Which of the following statements most accurately describes the
relationship of these parties?
a) Paul is the truste
b) Paul is the trustor, Ruth is the trustee, and Tanya is the beneficiary.
Under the laws of one state, any real property that either member of a married couple owns at the time of
their marriage remains separate property. Further, any real property acquired by either party during the
marriage (except by gift or inheritance) bel
d) community property
Ed, Frank, and Gina were concurrent owners of a parcel of real estate. Frank died, and his interest
passed according to his will to become part of his estate. Frank was a
a) joint tenant.
b) tenant in common.
c) tenant by the entirety.
d) severalty owner.
b) tenant in common.
A legal arrangement under which the title to real property is held to protect the interests of a beneficiary
is a
a) trust.
b) corporation.
c) limited partnership.
d) general partnership.
a) trust.
A condominium is officially established when
a) the construction of the improvements is completed.
b) the owner files a declaration in the public record.
c) the condominium owners' association is established.
d) all the unit owners file their documents in
b) the owner files a declaration in the public record.
An owner purchased an interest in a house in Beachfront. The owner is entitled only to the right of
possession between July 10 and August 4 of each year. Which of the following is most likely the type of
ownership that has been purchased?
a) Cooperative
b
c) Time-share
Because a corporation is a legal entity�(an artifical person)� real estate owned by it is owned in
a) trust.
b) partnership.
c) severalty.
d) survivorship tenancy.
c) severalty.
Which of the following refers to ownership by one person?
a) Tenancy by the entirety
b)Community property
c) Tenancy in common
d) Severalty
d) Severalty
Tom and Rose are married and co-own Barrin Farm, with right of survivorship. Theirs is most likely
a) severalty ownership.
b) community property.
c) a tenancy in common.
d) an estate by the entirety.
d) an estate by the entirety.
All of the following can be classified as real property EXCEPT
a) ownership in severalty.
b) cooperative unit ownership
c) condominium unit ownership.
d) a tenancy in common.
b) cooperative unit ownership
Bleak House is owned by Fred, George, and Harry as tenants in common. If George dies intestate, to
whom will his interest pass?
a) Fred and Harry equally
b) George's heirs
c) The state, by the law of escheat
d) Fred and Harry in joint tenancy
b) George's heirs
Which of the following is most likely evidence of ownership in a cooperative?
a) Tax bill for an individual unit
b) Existence of a reverter clause
c) Shareholder's stock certificate
d) Right of first refusal
c) Shareholder's stock certificate
Sandra lives in the elegant Howell Tower. Sandra's possessory interest is evidenced by a proprietary
lease. What does Sandra own?
a) Condominium unit
b) Cooperative unit
c) Time-share
d) Leasehold
b) Cooperative unit
Which of the following statements applies to both joint tenancy and tenancy by the entirety?
a) There is no right to file a partition suit.
b) The last survivor becomes a severalty owner.
c) A deed signed by one owner will convey a fractional interest.
d)
b) The last survivor becomes a severalty owner.
An owner has purchased a fee simple interest in a lakefront cottage along with 6 percent of the parking
lot, laundry room, and boat house. What kind of ownership interest has been bought?
a) Membership camping interest
b) Time-share estate
c) Cooperative
d) Condominium unit
If property is held by two or more owners as survivorship tenants, the interest of a deceased cotenant will be passed to the
a) surviving owner or owners.
b) heirs of the deceased.
c) state under the law of escheat.
d) trust under which the property was o
a) surviving owner or owners.
Survivorship tenancy in ohio is created only when
a suvivorship intent is clearly expressed in the deed
when a fee simple estate in a parcel of ohio real estate is conveyed by a deed to two or more owners without designating the nature of their co-ownership, the are assumed to be
tennants in common
When surveying land, a surveyor refers to the principal meridian that is
a) nearest the land being surveyed.
b) in the same state as the land being surveyed.
c) not more than 40 townships or 15 ranges distant from the land being surveyed.
d) within the re
d) within the rectangular survey system area in which the land being surveyed is located.
The N1?2 of the SW1?4 of a section contains how many acres?
a) 20
b) 40
c) 60
d) 80
d) 80
In describing real estate, the system that may use a property's physical features to determine boundaries
and measurements is
a) rectangular survey.
b) metes and bounds.
c) government survey.
d) lot and block.
b) metes and bounds.
10. A buyer purchased a half-acre parcel for $2.15 per square foot. What was the selling price of the parcel?
a) a, $774
b) b. $46,827
c) c. $1,376
d) d. $93,654
b) b. $46,827
If a farm described as "the NW1?4 of the SE1?4 of Section 10, Township 2 North, Range 3 West of the 6th.
P.M." sold for $1,500 an acre, what would the total sales price be?
a) $15,000
b) $30,000
c) $45,000
d) $60,000
d) $60,000
As a legal description "the northwest 1?4 of the southwest 1?4 of Section 6, Township 4 North, Range 7
West" is defective because it contains no reference to
a) lot numbers.
b) boundary lines.
c) a principal meridian.
d) a record of survey.
c) a principal meridian.
Which of the following terms does not involve the elevation of real estate?
a) Benchmark
b) POB
c) Air lot
d) Datum
b) POB
In the rectangular survey system, fractional sections along the northern or western border of a check
that are less than a quarter-section in area are known as
a) fractional parcels.
b) government lots.
c) hiatus.
d) fractional townships.
b) government lots.
Tom purchased 4.5 acres of land for $78,400. An adjoining owner wants to purchase a strip of Tom's
land measuring 150 feet by 100 feet. What should this strip cost the adjoining owner if Tom sells it for the
same price per square foot he originally paid f
b) $6,000
Which of the following are not basic components of metes-and-bounds descriptions?
a) Tangible and intangible monuments
b) Base lines, principal meridians, and townships
c) Degrees, minutes, and seconds
d) Points of beginning
b) Base lines, principal meridians, and townships
What is the shortest distance between Section 1 and Section 36 in the same township?
a) 3 miles
b) 4 miles
c) 5 miles
d) 6 miles
b) 4 miles
n any township, what is the number of the section designated as the school section?
a) 1
b) 16
c) 25
d) 36
b) 16
The least specific method for identifying real property is
a) rectangular survey.
b) metes and bounds.
c) street address.
d) lot and block.
c) street address.
Commercial Real Estate includes all of the following EXCEPT:
a. Office buildings for sale
b. apartments for rent
c. retail space for lease
d. fast-food restaurants for lease
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