Worksheets2025 Business Law Unit 4 Test
Total questions: 30
Worksheet time: 15mins
Name
Class
Date
1.
The Social Security Act provides this type of insurance.
a)
fee simple absolute
b)
social insurance
c)
right of partition
d)
casualty insurance
2.
An attribute common to co-ownership
a)
fee simple absolute
b)
social insurance
c)
right of partition
d)
casualty insurance
3.
The estate with all of the ownership rights
a)
fee simple absolute
b)
social insurance
c)
right of partition
d)
casualty insurance
4.
The party who gives up temporary possession of the property
a)
fee simple absolute
b)
casualty insurance
c)
bailee
d)
bailor
5.
Coverage for a variety of specific situations in which the intentional, negligent, or accidental acts of others or mere chance may result in loss
a)
fee simple absolute
b)
casualty insurance
c)
bailee
d)
bailor
6.
Irrevocable rights to some limited use of another’s land
a)
eminent domain
b)
easements
c)
bailee
d)
bailor
7.
The power of the government to take private property for public use in exchange for the fair market price
a)
eminent domain
b)
easements
c)
bailee
d)
bailor
8.
Possessing land with the owner’s permission but without an agreement
a)
eminent domain
b)
easements
c)
constructive trust
d)
spendthrift trust
e)
tenancy at will
9.
Protects the beneficiary’s interest in the subject property from the beneficiary’s creditors
a)
eminent domain
b)
easements
c)
constructive trust
d)
spendthrift trust
e)
tenancy at will
10.
Requires a person holding property to transfer it to another because retention of the property would be a wrongful and unjust enrichment of the holder
a)
eminent domain
b)
easements
c)
constructive trust
d)
spendthrift trust
e)
tenancy at will
11.
Laws to protect the public health, safety, morals, and general welfare may limit a property owner’s freedom of use of the property.
a)
True
b)
False
12.
Even though the shares may be unequal, there is a right of survivorship in the tenancy in common.
a)
True
b)
False
13.
In order for a bailment to arise, both possession and control of the goods must shift from the bailor to the bailee.
a)
True
b)
False
14.
A bailment for services arises when the bailor, for a fee, provides personal property
a)
True
b)
False
15.
Grapevines and rose bushes are real property, but the grapes and roses raised and harvested would be personal property.
a)
True
b)
False
16.
States can enforce zoning ordinances even when they exceed the constitutional powers of the state.
a)
True
b)
False
17.
It is the possessor’s duty to the trespasser to keep the land in a reasonably safe condition.
a)
True
b)
False
18.
Most leases constitute a blending of the law of conveyance and the law of contracts.
a)
True
b)
False
19.
Any person who would suffer a direct and measurable monetary loss if property were damaged or destroyed has an insurable interest in that property.
a)
True
b)
False
20.
A “living will” is a valid will made while the maker is still living.
a)
True
b)
False
21.
Goods such as one’s car, clothing, or watch are
a)
intangible personal property
b)
tangible personal property
c)
real property
d)
intellectual property
22.
When the owner knowingly leaves the property somewhere but then forgets it, the property is considered
a)
abandoned
b)
lost
c)
mislaid
d)
worthless
23.
When only one of the parties benefits from the bailment
a)
an extraordinary bailment arises
b)
an involuntary bailment arises
c)
a gratuitous bailment arises
d)
a mutual benefit bailment arises
24.
Often merchants attempt to modify the duty of care with
a)
a contract
b)
a disclaimer
c)
legislation
d)
any of these
25.
When you purchase land, you also gain ownership of
a)
the air space above the surface
b)
the mineral rights underneath the surface
c)
the water rights on and under the surface
d)
all of these
26.
A promise involving land use between a buyer and seller of land that must be in writing is called
a)
an easement
b)
an ordinance
c)
a covenant
d)
a variance
27.
The tenant has the right to
a)
possession
b)
use the property
c)
sublet the premises
d)
all of these
28.
Under the Fair Housing Act
a)
the landlord must allow a handicapped person to modify the property on the condition that it will be returned to its original condition at the end of the lease
b)
tenants with children may stay in facilities specified “housing for older persons,”
c)
the landlord may refuse tenants who cannot speak the native language of the community
d)
none of these
29.
Which of the following is not considered a managed-care health insurance plan?
a)
HMO
b)
PPO
c)
Medicare
d)
none of these
30.
A will that was written entirely by the decedent’s own hand and signed by him or her is
a)
a codicil
b)
a holographic will
c)
a nuncupative will
d)
a testamentary trust
100 %
