
Real Estate Exam Chapter 1
Professional Development
Professional Development
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which phrase BEST defines real estate?
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
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The term "nonhomogeneity" refers to:
Scarcity
Immobility
Uniqueness
Indestructibility
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The bundle of legal rights is included in the definition of:
Land
Real estate
Real property
Trade fixtures
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The bundle of leagal rights includes all of the following rights EXCEPT:
Possess the property
Enjoy the property within the framework of the law
Sell or otherwise convey the property
Use the property for any purpose, legal or otherwise
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a physical characteristic of real estate?
Location or area preference
Performance of investment
Scarcity
Indestructibility
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would NOT be a consideration when determining whether an item is real property?
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
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an economic characteristic of real estate?
Indestructibility
Permanence of investment
Location or area preference
Scarcity
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