US Real Estate Exam API

       
                                                                                                        
                                                                                                                                                                                                                            {"status":"success","data":[{"questionId":1,"typeDescription":"MultipleChoice","questionDescription":"Personal property that, by its attachment to real property, is regarded as real estate is called","tags":"Characteristics","choices":[{"choiceId":3,"choiceDescription":"an emblement"},{"choiceId":4,"choiceDescription":"personalty"},{"choiceId":5,"choiceDescription":"a fixture"},{"choiceId":6,"choiceDescription":"an appliance"}]},{"questionId":2,"typeDescription":"MultipleChoice","questionDescription":"Which of the following lists correctly describes the physical and economic characteristics of real estate?","tags":"Characteristics","choices":[{"choiceId":7,"choiceDescription":"Immovable, indestructible, unique, scarce."},{"choiceId":8,"choiceDescription":"Depreciable, indestructible, scarce, unique."},{"choiceId":9,"choiceDescription":"Unique, immovable, abundant, indestructible."},{"choiceId":10,"choiceDescription":"Moveable, indestructible, scarce, unique."}]},{"questionId":3,"typeDescription":"MultipleChoice","questionDescription":"If a person has complete control over their property, and the ownership in the property is not defeasible, what interest does the person have in the property?\t","tags":"Freehold Estates","choices":[{"choiceId":11,"choiceDescription":"fee conditional estate"},{"choiceId":12,"choiceDescription":"fee simple estate"},{"choiceId":13,"choiceDescription":"life estate"},{"choiceId":14,"choiceDescription":"defeasible fee estate"}]},{"questionId":4,"typeDescription":"MultipleChoice","questionDescription":"Ulyanna and Daniel own two contiguous properties situated on the shores of a fast-moving river. Ulyanna's parcel is situated upstream from Daniel's parcel. Over time, the action of the river's water has moved some silt and dirt from the shores of Ursula's property and deposited it downstream on the shores of Daniel's property. Based upon this fact pattern, which of the following lists best describes what has occurred on Daniel's property?","tags":"Freehold Estates","choices":[{"choiceId":15,"choiceDescription":"Alienation, attachment, alluvium"},{"choiceId":16,"choiceDescription":"Accession, littoral, standing water"},{"choiceId":17,"choiceDescription":"Assemblage, plottage, increased value"},{"choiceId":18,"choiceDescription":"Accession, accretion, alluvium"}]},{"questionId":5,"typeDescription":"MultipleChoice","questionDescription":"Which of the following is the difference between the value of a property and the total amount of liens against the property?","tags":"Ownership","choices":[{"choiceId":19,"choiceDescription":"investment"},{"choiceId":20,"choiceDescription":"basis"},{"choiceId":21,"choiceDescription":"down payment"},{"choiceId":22,"choiceDescription":"equity"}]},{"questionId":6,"typeDescription":"MultipleChoice","questionDescription":"A parcel of residential real estate is held in a life estate. The life tenancy is held by a woman, and she is the measuring life. Her nephew is the remainderman. The life tenant wants to take out a loan using the property as collateral. Which of the following statements is correct?","tags":"Ownership","choices":[{"choiceId":23,"choiceDescription":"No lender will lend money when the collateral is real estate held in a life estate."},{"choiceId":24,"choiceDescription":"The remainderman's signature on the loan documents is irrelevant to the lender's security interest in the realty."},{"choiceId":25,"choiceDescription":"Because she is merely a life tenant, the woman holds a nonfreehold estate."},{"choiceId":26,"choiceDescription":"Both the life tenant and the remainderman will need to sign the loan documents to protect the lender's security interest in the property."}]},{"questionId":7,"typeDescription":"MultipleChoice","questionDescription":"There are four separate, recently-sold parcels of real estate on Main Street. Parcel 1 was owned by a Real Estate Investment Trust and was voluntarily conveyed to the City where the property is situated. Parcel 2 was owned by four unmarried brothers and was voluntarily conveyed to their father. Parcel 3 was owned by two corporations, until one corporation recently sold its ownership interest in the property to the other corporation. Parcel 4 was owned by Mr. and Mrs. Kim, but was recently sold to Amanda Lee, Trustee of the Lee Family Revocable Trust. What do all of these buyers have in common?","tags":"Ownership","choices":[{"choiceId":27,"choiceDescription":"Concurrent ownership."},{"choiceId":28,"choiceDescription":"Ownership in severalty."},{"choiceId":29,"choiceDescription":"Fractional, but undivided ownership."},{"choiceId":30,"choiceDescription":"Right of survivorship."}]},{"questionId":8,"typeDescription":"MultipleChoice","questionDescription":"A metes-and -bounds legal description _____________.","tags":"Land Description","choices":[{"choiceId":31,"choiceDescription":"can be created only for areas excluded from the rectangular survey system"},{"choiceId":32,"choiceDescription":"is not acceptable in a court in most jurisdictions"},{"choiceId":33,"choiceDescription":"must commence and finish at the same identifiable point"},{"choiceId":34,"choiceDescription":"is used only in extreme cases where there is no recorded subdivision plats"}]},{"questionId":9,"typeDescription":"MultipleChoice","questionDescription":"Your neighbors use a portion of your property to reach their guest apartment, which is on their property. As far as you can recall, you never gave them permission to use your property, and you discuss with your attorney the possibility of preventing the neighbors from using your property. Your attorney explains that the ownership of the neighbors' real estate includes an easement appurtenant giving them the right to use that portion of your property. Your property is the _____________.","tags":"Encumbrances","choices":[{"choiceId":35,"choiceDescription":"leasehold interest"},{"choiceId":36,"choiceDescription":"dominant tenement"},{"choiceId":37,"choiceDescription":"servient tenement"},{"choiceId":38,"choiceDescription":"license property"}]},{"questionId":10,"typeDescription":"MultipleChoice","questionDescription":"The owner of a large parcel of real estate legally divided it into two smaller parcels. Parcel North was directly to the north of Parcel South. The only road in the area bordered Parcel South. The owner intended to keep Parcel North, and wanted to prevent it from becoming landlocked. In the deed to the buyer of Parcel South, the owner reserved a non-exclusive easement for ingress and egress purposes over the westerly 8 feet of Parcel South. After both parcels were sold to two new owners, the new owner of Parcel South fenced in the entire parcel, making ingress and egress over the westerly 8 feet impossible for the new owner of Parcel North. In a lawsuit between the new owner of Parcel North and the new owner of Parcel South, who will most likely win?","tags":"Encumbrances","choices":[{"choiceId":39,"choiceDescription":"The owner of Parcel North. An easement appurtenant cannot unilaterally be terminated by the servient tenement."},{"choiceId":40,"choiceDescription":"The owner of Parcel North. An easement in gross cannot unilaterally be terminated by the servient tenement."},{"choiceId":41,"choiceDescription":"The owner of Parcel North. Because there is no other access to a road, this is an easement by necessity."},{"choiceId":42,"choiceDescription":"The owner of Parcel South. The right to exclude non-owners is a fundamental right of property ownership."}]},{"questionId":11,"typeDescription":"MultipleChoice","questionDescription":"\tA county government was widening a highway. Prior to construction, the county had to demolish certain dwelling houses and commercial retail properties bordering the old highway. After the legal proceedings were complete, several residential property owners refused to leave their former homes. The sheriff removed several individuals forcibly. In one case, the sheriff was forced to drag an elderly, protesting woman out of a house she had owned for decades. What is the name of the governmental power?","tags":"Government Restrictions","choices":[{"choiceId":43,"choiceDescription":"Condemnation"},{"choiceId":44,"choiceDescription":"Police Power"},{"choiceId":45,"choiceDescription":"Eminent Domain"},{"choiceId":46,"choiceDescription":"Escheat"}]},{"questionId":12,"typeDescription":"TrueOrFalse","questionDescription":"There are no nationwide or statewide zoning laws.","tags":"Government Restrictions","choices":[{"choiceId":1,"choiceDescription":"True"},{"choiceId":2,"choiceDescription":"False"}]},{"questionId":13,"typeDescription":"MultipleChoice","questionDescription":"The illegal and discriminatory practice of _____________ occurs when one person induces another to enter into a real estate transaction by insinuating that the real property values in neighborhood will decline as a result of a member of a protected class buying property in that neighborhood.","tags":"Government Restrictions","choices":[{"choiceId":47,"choiceDescription":"blockbusting"},{"choiceId":48,"choiceDescription":"redlining"},{"choiceId":49,"choiceDescription":"boycotting"},{"choiceId":50,"choiceDescription":"neighborhood canvassing"}]},{"questionId":14,"typeDescription":"MultipleChoice","questionDescription":"What is the main purpose of police power?","tags":"Government Restrictions","choices":[{"choiceId":51,"choiceDescription":"To protect the health, safety, and welfare of the community."},{"choiceId":52,"choiceDescription":"To prevent people from committing crimes."},{"choiceId":53,"choiceDescription":"To put out fires."},{"choiceId":54,"choiceDescription":"To make sure the property owners and citizens know their place."}]},{"questionId":15,"typeDescription":"MultipleChoice","questionDescription":"What is the difference between a specific lien and a general lien?","tags":"Liens","choices":[{"choiceId":55,"choiceDescription":"A specific lien is secured by a specific piece of property, and a ge...
                                                                                                                                                                                                                    
                                                                                                    

       
                                                                                                        
                                                                                                                                                                                                                            {"status":"success","data":[{"questionId":1,"typeDescription":"MultipleChoice","questionDescription":"Personal property that, by its attachment to real property, is regarded as real estate is called","tags":"Characteristics","feedback":"When personal property is attached to real property to such an extent that a person cannot extract the item from the real property without damaging the real property, the item is a fixture. Another test to determine whether an item is a fixture is whether the item is so adapted to the real property, that to remove the item will diminish the value or utility of the real property. Of course, if the purchase contract specifically includes a certain item with the sale of the property, that item must be regarded as a fixture, whether it meets the legal definition of fixture or not. Likewise if the purchase contract specifically excludes an item from the sale, it must be regarded as personal property, and should be removed.","choiceId":5,"choiceDescription":"a fixture"},{"questionId":2,"typeDescription":"MultipleChoice","questionDescription":"Which of the following lists correctly describes the physical and economic characteristics of real estate?","tags":"Characteristics","feedback":"Land is characterized as immovable because an entire parcel of real estate cannot be moved to another site. Land is considered indestructible because, in contrast to buildings, an entire parcel of real estate theoretically cannot be destroyed and/or need to be replaced. Land is considered unique because, at the very least, each parcel of real estate has its own different and distinct place on the planet. Finally, land is considered scarce because entire new parcels of real estate cannot be manufactured.\r\n\r\nTest-Taking Tip: Because the words \"unique\" and \"indestructible\" are in each answer choice, you do not need to spend valuable exam time considering them.\r\n\r\nB is incorrect. Land does not depreciate. Why not? Because, in contrast to a house or a building, an entire parcel of land does not wear out and need to be replaced. Test-Taking Tip: Make sure you remember this rule for your exam: Land does not depreciate. C is incorrect. Despite there being a lot of land, land is considered scarce as brand-new parcels of land cannot be created through human labor. D is incorrect. Land is not considered moveable. While topsoil or even a building can be moved, an entire parcel of real estate cannot be moved to a new location.","choiceId":7,"choiceDescription":"Immovable, indestructible, unique, scarce."},{"questionId":3,"typeDescription":"MultipleChoice","questionDescription":"If a person has complete control over their property, and the ownership in the property is not defeasible, what interest does the person have in the property?\t","tags":"Freehold Estates","feedback":"A fee simple estate is ownership that gives a person or entity complete control (subject to standard governmental restrictions). A life estate gives a person ownership or control of a property only for the duration of his/her natural life. Defeasible estates (estates which can be defeated) give a person or entity control over a property only so long as certain conditions are met or avoided.ULL","choiceId":12,"choiceDescription":"fee simple estate"},{"questionId":4,"typeDescription":"MultipleChoice","questionDescription":"Ulyanna and Daniel own two contiguous properties situated on the shores of a fast-moving river. Ulyanna's parcel is situated upstream from Daniel's parcel. Over time, the action of the river's water has moved some silt and dirt from the shores of Ursula's property and deposited it downstream on the shores of Daniel's property. Based upon this fact pattern, which of the following lists best describes what has occurred on Daniel's property?","tags":"Freehold Estates","feedback":"This series of words best describes what has happened on Daniel's property. As it pertains to real estate, \"accession\" means to acquire more land, even a small amount of land. \"Accretion\" is accession that occurs through natural causes. Here, what happened on Daniel's land is accession by accretion because the natural action of the river's water deposited silt on the shores of Daniel's property. Finally, \"alluvium\" is a technical term for the silt/dirt moved by the river from Ulyanna's shores and deposited on Daniel's shores.\r\n\r\nA is incorrect. \"Alienation\" means to separate real estate from its owner. Alienation can occur either through voluntary means (e.g., sale, gift, dedication, etc.) or involuntary means (e.g., foreclosure, tax sale, adverse possession, etc.). Here, Daniel is acquiring property, not losing it. Answer Choice \"A\" is also incorrect because of the word \"attachment.\" While attachment is property gained through accession, attachment is created through human intervention. For example, if a tenant had rented Daniel's property, constructed a shed on it, and then left the shed after the lease was over, that would have been an example of accession by attachment. Here, Daniel is gaining additional property through the natural action of the river's water (i.e., accretion). B is incorrect. Littoral has to do with rights of owners who live by standing water, like a lake, a pond, or the ocean. There is nothing in the fact pattern to suggest either parcel of property is near a body of standing water. C is incorrect. These terms are used by appraisers to describe the increase in value when an owner combines several contiguous or touching parcels into one large parcel. The act of combining several parcels into one parcel is called \"assemblage.\" The increase in value that should result from the consolidation is called \"plottage.\" (e.g., five separate parcels each have a value of $100,000 totaling $500,000. After assembling them together into one large parcel, the value of the one large parcel is $525,000. The additional $25,000 is plottage.)","choiceId":18,"choiceDescription":"Accession, accretion, alluvium"},{"questionId":5,"typeDescription":"MultipleChoice","questionDescription":"Which of the following is the difference between the value of a property and the total amount of liens against the property?","tags":"Ownership","feedback":"Equity is not directly affected by the purchase price for the property; nor is it directly affected by the amount of down payment put forth at the time of the purchase. Many owners are under the misguided belief that a high down payment will always result in high equity. This is only true if the market value of the property remains the same as it is when the down payment is given; or increases after the down payment is given. If the market value of the property decreases, the equity in the property will decrease also, regardless of the purchase price and down payment amount.","choiceId":22,"choiceDescription":"equity"},{"questionId":6,"typeDescription":"MultipleChoice","questionDescription":"A parcel of residential real estate is held in a life estate. The life tenancy is held by a woman, and she is the measuring life. Her nephew is the remainderman. The life tenant wants to take out a loan using the property as collateral. Which of the following statements is correct?","tags":"Ownership","feedback":"The life tenant (i.e., the aunt) can take out a loan on the property without the remainderman's signature. However, if only the life tenant life signs the loan documents, then the debt will die with her. In order to protect the lender's security interest in the event of the aunt's death, both the life tenant and the remainderman will need to sign the loan documents. The same would be true if the property were being sold: Both the life tenant and the remainderman would need to sign the deed in order to ensure that the buyer's ownership interest in the property would continue after the life tenant dies.\r\n\r\nTest-Taking Tip: Remember a life estate is an estate of ownership (aka a \"freehold\" estate). With a life estate, there is a \"present interest\" and a \"future interest.\" A simple way to figure out who owns each interest is to ask yourself the following two questions: \"Who has the right to possess the property in the present?\" Here, the aunt does: She holds a present interest in the property, and, because she is the measuring life, she will hold that interest until she dies. \"Who will have the right to possess the property in the future?\" Here, the nephew does: He holds a future interest in the property.\r\n\r\nA is incorrect. Provided that both the life tenant and the remainderman sign the loan documents, the lender's security interest in the real estate will be protected if the life tenant dies during the term of the loan. B is incorrect. If the remainderman does not sign the loan documents, the lender's security interest in the real estate will terminate upon the death of the life tenant. C is incorrect. A nonfreehold estate is a leasehold estate. A life estate, by contrast, is a freehold estate (i.e., an estate of ownership).","choiceId":26,"choiceDescription":"Both the life tenant and the remainderman will need to sign the loan documents to protect the lender's security interest in the property."},{"questionId":7,"typeDescription":"MultipleChoice","questionDescription":"There are four separate, recently-sold parcels of real estate on Main Street. Parcel 1 was owned by a Real Estate Investment Trust and was voluntarily conveyed to the City where the property is situated. Parcel 2 was owned by four unmarried brothers and was voluntarily conveyed to their father. Parcel 3 was owned by two corporations, until one corporation recently sold its ownership interest in the property to the other corporation. Parcel 4 was owned by Mr. and Mrs. Kim, but was recently sold to Amanda Lee, Trustee of the Lee Family Revocable Trust. What do all of these buyers have in common?","tags":"Ownership","feedback":"Ownership in severalty occurs when there is only one owner of a parcel of real estate. Th...
                                                                                                                                                                                                                    
                                                                                                    

       
                                                                                                        
                                                                                                                                                                                                                            {"status":"success","data":[{"questionId":42,"questionDescription":"Personal property that, by its attachment to real property, is regarded as real estate is called","tags":"Characteristics","choiceDescription":"a fixture"},{"questionId":43,"questionDescription":"If a person has complete control over their property, and the ownership in the property is not defeasible, what interest does the person have in the property?","tags":"Freehold Estates","choiceDescription":"fee simple estate"},{"questionId":44,"questionDescription":"What is the difference between the value of a property and the total amount of liens against the property?","tags":"Ownership","choiceDescription":"equity"},{"questionId":45,"questionDescription":"To protect the health, safety, and welfare of the community.","tags":"Government Restrictions","choiceDescription":"Police Power"},{"questionId":46,"questionDescription":"Right & interest of having title such as posession, control, exclusion, sell, and enjoyment","tags":null,"choiceDescription":"Bundle of Rights"},{"questionId":47,"questionDescription":"Goes with property; \r\n\r\nGenerally immovable","tags":null,"choiceDescription":"Real Property"}]}