Real Estate Investment Quiz
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Questions and Answers

In real estate investment, what is another name for depreciation?

  • Cost recovery (correct)
  • Intrinsic value
  • Leverage
  • Liquidity
  • Which type of property includes office buildings and retail space?

  • Special use real estate
  • Commercial real estate (correct)
  • Industrial property
  • Residential property
  • Which factor is least likely to affect demand for real estate?

  • Demographics
  • Material costs (correct)
  • Wage rates
  • Employment levels
  • What is defined as a claim, charge, or liability that attaches to real estate?

    <p>Easement in gross</p> Signup and view all the answers

    What form of ownership is employed when one person transfers ownership to someone else to hold and manage for a third person?

    <p>Trust</p> Signup and view all the answers

    Who cannot take title as a joint tenant with right of survivorship?

    <p>Parent and child</p> Signup and view all the answers

    What form of ownership are the three brothers presumed to have taken?

    <p>Tenancy in common</p> Signup and view all the answers

    What advice should the real estate professional offer to two relatives who share a house?

    <p>Suggest that they consult with an attorney</p> Signup and view all the answers

    What kind of trust is established when a will requires the local banker to take care of the deceased's estate until the deceased's children reach age 25?

    <p>Testamentary trust</p> Signup and view all the answers

    What kind of ownership do the horizontal property acts regulate?

    <p>Condominiums</p> Signup and view all the answers

    What is the BEST option for one of the co-owners of the apartment building to sell their interest?

    <p>File a suit for partition</p> Signup and view all the answers

    If one of the co-owners sells their interest in the apartment building, what will happen to the ownership status?

    <p>The buyer will become a joint tenant with the remaining owner.</p> Signup and view all the answers

    What type of ownership interest is fee simple ownership of a cottage in a lakefront community?

    <p>Time-share estate</p> Signup and view all the answers

    What is N's role in 'Property Group Partners' based on the provided information?

    <p>Run the business and contribute $30,000</p> Signup and view all the answers

    Which of the following statements reflects a correct understanding of the difference between real property and personal property?

    <p>Lighting fixtures are normally considered to be real property, irrespective of where they were bought or how they were installed.</p> Signup and view all the answers

    Which stick in the bundle of rights gives the farmer the authority to post No Trespassing and No Hunting signs on the property?

    <p>Exclusion</p> Signup and view all the answers

    What is a right or privilege tied to real property, although not necessarily part of the property, called?

    <p>Appurtenance</p> Signup and view all the answers

    Why is it necessary for the sales contract to explicitly exclude a rose bush from the sale of a property?

    <p>The rose bush is considered personal property, so it needs to be explicitly excluded.</p> Signup and view all the answers

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