Topic 1 - Legal Aspects of Appraisal

1) A person who has leased real estate to another has a: [0750]

A. Leasehold estate

B. Lessee's estate

C. Fee simple estate

* D. Leased fee estate

2) The correct term for an easement that has no dominant estate is: [0742]

A. Easement appurtenant

B. Public easement

* C. Easement in gross

D. Easement by necessity

3) A property has more than one owner with equal right of possession.  At the death of one owner, the surviving owners automatically get the deceased owner's portion of the property.  What is the current form of ownership? [0780]

A. Joint tenancy without the right of survivorship

B. Tenancy by the entireties

C. Tenancy in common

* D. Joint tenancy

4) An exception to zoning rules by the zoning authority is called: [0737]

A. A conforming use

* B. A variance

C. An illegal use

D. A non-conforming use

5) A several tenant is: [0772]

A. Ownership by a husband and wife

B. Ownership by parents and child or children

C. Ownership by several people

* D. Ownership by one person

6) The purpose of nearly all appraisals is to: [4002]

A. Estimate the market value of the real estate

* B. Estimate the value of the real property

C. Both A and B

D. Neither A nor B

7) What is a reversionary interest? [0763]

A. Interest in property of the grantee of a fee simple estate

B. Interest in property of the grantee of a life estate

C. Interest in property of the grantor of a fee simple estate

* D. Interest in property of the grantor of a life estate

8) Which is not a test of a fixture? [0687]

A. The intention of the party who attached the article

B. The method of attachment

* C. The cost of the article

D. The size of the item

9) When a grantor gives a warranty deed, he guarantees that: [0233]

A. There are no prior claims against the property

B. He is the owner of the property

C. Neither of the above

* D. Both of the above

10) The property tax on an owner-occupied house is $1,300.  The assessment rate is 40%.  The county allows a $3,000 homestead exemption.  The property tax rate is 26 mills.  What is the market value of the house? [0782]

A. $100,000

* B. $132,500

C. $110,000

D. $120,000

11) A warranty deed: [0835]

A. Warrants that the buildings on the property are in good condition

B. Warrants that the mechanical systems (plumbing, electricity, etc.) in any building on the property are working properly

C. Warrants that the seller acquired the property legally

* D. Warrants that there are no prior claims against the property

12) Which is not a power of the government? [0710]

A. Police power

B. Escheat

* C. Restrictive covenants

D. Taxation

13) A grantor can restrict the use of the land he/she sells in all of the following ways except by: [0682]

A. Limiting the placement of buildings on the property

* B. Changing the zoning

C. Prohibiting otherwise legal use of the property

D. Limiting the types of buildings that can be constructed on the property

14) Mitchell has an easement appurtenant that allows him to pass over Jordan's land: [0741]

A. Mitchell's land is the dominant estate; there is no servient estate

* B. Mitchell's land is the dominant estate; Jordan's is the servient estate

C. Jordan's land is the dominant estate; Mitchell's is the servient estate

D. Mitchell's land is the servient estate; there is no dominant estate

15) In the government survey system, what is the shortest distance between sections 9 and 19 in any given township? [2078]

A. 2 miles

B. 1 mile

* C. 1.4 miles

D. 1.5 miles

16) A landowner wants to give her neighbor the right to cross over her property, but does not wish this to be a permanent, irrevocable right.  What type of right should the owner consider? [4063]

* A. License

B. Easement in gross

C. Right-of-way

D. Easement appurtenant

17) Escheat is the right of a government to: [0697]

A. Regulate property for the public good

B. Take property for the public good

* C. Take property of a deceased person who has no heirs

D. Assess a special tax on properties that benefit from a particular improvement such as street lights

18) Wesley grants Sue a life estate in his land.  When Sue dies, the property will return to him.  Wesley has: [0775]

A. Reminder interest

* B. Reversionary interest

C. Fee simple interest

D. Grantee interest

19) An easement appurtenant requires: [0743]

A. A servient estate only

B. A dominant estate only

C. An appurtenant estate only

* D. A dominant estate and a servient estate

20) Gail's kitchen extends onto her neighbor's property.  This is: [0749]

* A. An encroachment

B. An easement

C. A leasehold

D. A division

21) Which one of the following is not a government restriction? [0695]

* A. Covenant

B. Police power

C. Eminent domain

D. Escheat

22) When property is owned to the exclusion of all others, the owner holds the property in: [4061]

A. Jointly

* B. Severalty

C. Common

D. Personalty

23) Which of the following gives a developer the legal right and flexibility to mix land uses and land-use densities in the development of a tract of land? [0809]

* A. PUD

B. FNMA

C. PMI

D. HUD

24) A vacant lot is subject to a property tax of $2.10/$100 of assessed value.  What would the tax rate be if it were expressed in mills? [0788]

* A. 21 mills

B. 2.1 mills

C. 210 mills

D. .21 mills

25) Starting at the northeast corner of Holcomb Bridge Road and Crooked Creek Road, go east along the right of way of Crooked Creek Road 200 feet to the true point of beginning. Go north 100 feet; go east 200 feet; go north 200 feet; go east 200 feet; go south 30 degrees east 500 feet; go west 800 feet to the point of beginning. [3016]

* A. The parcel described is 140,000 square feet

B. The parcel described is 160,000 square feet

C. The parcel described is 150,000 square feet

D. The parcel described is 130,000 square feet

26) Which is not a method of describing real estate? [0716]

* A. Quantity survey system

B. Lot-and-block system

C. Metes-and-bounds system

D. Rectangular survey system

27) The term 'leasehold estate' means: [0770]

A. The rights of the landlord in real estate if the tenant defaults

B. The rights of the landlord in real estate when the lease terminates

* C. The rights of the tenant during the term of the lease

D. The rights of the landlord in real estate during the term of the lease

28) An easement in gross requires: [0744]

A. A dominant estate and servient estate

* B. A servient estate only

C. A dominant estate only

D. An appurtenant estate only

29) Dower interest is: [4011]

* A. A wife's interest in her husband's real estate

B. Community property

C. The children's interest in their parents' real estate

D. A husband's interest in his wife's real estate

30) When two or more parcels of land are joined, the increase in value of the whole over the value of the sum of the parts is due to the principle of: [4077]

A. Increasing returns

* B. Plottage

C. Contribution

D. Substitution

31) A 'leased fee estate' refers to: [0751]

A. The rights of the tenant who has leased property

B. The responsibility of a trustee who holds the lease

C. The rights of the owner of property that is not currently leased

* D. The rights of the owner of property that has been leased

32) A recorded easement may be terminated by: [4064]

A. Recording a quitclaim deed signed by the owner of the servient estate

* B. Recording a quitclaim deed signed by the owner of the dominant estate

C. Instituting an action for partition

D. Filing a ten-day notice followed by an unlawful detainer action

33) When an agricultural lease unexpectedly terminates, the lessee has the right to: [0727]

A. Receive a ground rent

B. Recover any encumbrances

* C. Recover any emblements

D. Recover any leaseholds

34) A tenancy in common must have the unity of: [4060]

A. Title

B. Interest

C. Time

* D. Possession

35) The highest form of ownership is: [0767]

* A. Fee simple

B. Leased fee

C. Life estate

D. Highest and best use

36) Which is true about restrictive covenants found in deeds? [4074]

* A. They are encumbrances

B. They automatically expire upon violation

C. They must be the same as local zoning laws

D. If the restriction violates another law, the entire deed is void

37) A pre-existing use of property that is permitted by old zoning which is not allowed under existing zoning is: [0738]

* A. Non-conforming use

B. Predetermined use

C. Illegal use

D. A variance

38) What is the value of the south 1/2 of the northwest 1/4 of a section if land is selling for $5,000 an acre? [0724]

A. $3,200,000

B. $800,000

C. $640,000

* D. $400,000

39) Joe owns the southeast 1/4 of the southeast 1/4 of a section.  The county has condemned a 75 foot strip of land that includes the entire east border of Joe's property. How many acres will Joe lose? [2077]

A. 9.1 acres

* B. 2.3 acres

C. 4.5 acres

D. 7.5 acres

40) Which is a fixture? [4015]

* A. Personal property attached to the land or a building in such a manner that it becomes part of the real estate

B. Trees and other vegetation (except emblements) that are permanently attached to the land

C. Rights-of-way, easements, and other intangible items that are appurtenant to the land

D. All of the above

41) `The price of land is $20,000 per acre.  What is the price of the S 1/2 of the NE 1/4 of the NE 1/4 of a section? [0719]

A. $800,000

* B. $400,000

C. $1,200,000

D. $200,000

42) Who creates deed restrictions? [0681]

A. The planning commission

* B. The grantor

C. The zoning commission

D. The building inspector

43) When describing land using the rectangular survey method, an area one mile by one mile is referred to as a: [0715]

A. Quadrant

* B. Section

C. City

D. Township

44) The legal right to remove items such as topsoil or timber from the land of another is: [0812]

A. An emblement

B. An Escheat

C. An easement

* D. A profit

45) What does 'metes-and-bounds' refer to: [0717]

A. The linkages to a property

B. The transportation to a site

* C. A method for describing property

D. An appraisal of a property

46) A leasehold estate is: [0774]

* A. The tenant's rights in real estate

B. The owner's rights in real estate

C. The joint tenant's rights in real estate

D. All of the above

47) Real property has multiple owners with equal right of possession.  If one owner dies and leaves his share to his heirs, what type of ownership exists? [6207]

A. Several tenants

B. Joint tenants

C. Tenants by the entirety

* D. Tenants in common

48) A government's regulation of land for the public good is called: [0692]

* A. Police power

B. Eminent domain

C. Encroachment

D. Escheat

49) Which of the following is not true about deed restrictions? [0683]

* A. They terminate upon the death of the grantor

B. They are binding on future grantees

C. They are often used by residential developers

D. They are often called restrictive covenants

50) A property has more than one owner with equal right of possession.  At the death of one owner, the deceased may leave his rights to his heirs.  What is the current form of ownership? [0781]

A. Joint tenancy without the right of survivorship

B. Joint tenancy with the right of survivorship

* C. Tenancy in common

D. Tenancy by the entireties