Real Estate Unit 1 Test Review

Front

Which of the following is considered real property? A car, A sofa, A house, A laptop

Back

A house

Front

Personal property refers to: Land and anything permanently attached to it, Movable items that are not fixed to land, Buildings and fixtures, Anything located on a piece of real estate

Back

Movable items that are not fixed to land

Front

Which of the following would be an example of personal property? An acre of land, A detached garage on a property, A computer, A swimming pool attached to the home

Back

A computer

Front

Which of the following is a characteristic of real property? Options: It can be easily moved from place to place, It includes land and structures permanently attached to the land, It includes items like furniture and electronics, It can be transferred without any legal documentation

Back

It includes land and structures permanently attached to the land

Front

Which of the following is true about real property? It can be destroyed easily and replaced, It includes movable personal possessions, It is typically subject to property taxes, It is not affected by zoning laws or regulations

Back

It is typically subject to property taxes

Front

Which of the following is a characteristic of land? Mobility, Indestructibility, Reproducibility, Homogeneity

Back

Indestructibility

Front

What does the term non-homogeneity (or heterogeneity) mean in relation to land?

Back

Each parcel of land is unique and cannot be exactly duplicated.

Front

Why is land considered immobile?

Back

Land cannot be moved from one place to another.

Front

Why is the uniqueness (non-homogeneity) of land important in real estate?

Back

It means no two pieces of land are exactly the same, affecting property value.

Front

How does the immobility of land affect its market value?

Back

Land's location cannot be changed, which makes location a critical factor in its value.