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1. What is a deed containing the strongest and broadest form of guarantee of title?
A) bargain and sale deed
B) special warranty deed
C) general warranty deed
D) quitclaim deed
2. Bobby took out a commercial mortgage to pay for his new podcast studio. It is an interest-only loan of $800,000 with an interest rate of 4.5%. How much will Bobby pay in interest over the year?
A) $3,500
B) $36.000
C) $45,000
D) $10,500
3. Any non-natural structure built on or affixed to land is an:
A) encumbrance
B) appurtenance
C) improvement
D) emblements
4. Which of these describes a leasehold estate?
A) Jung owns a building. He lives upstairs and runs the store downstairs.
B) Shannon lives in her uncle's apartment and has the right to occupy it for the remainder of her life. After that, the property reverts back to her uncte.
C) Janet owns a property she inherited from her father. There's a stipulation on the deed that it is only to be used for a residence. Otherwise, it reverts to him.
D) Terrence occupies an apartment he doesn't own. He pays his landlord rent every month.
5. In Virginia, what is the difference between the REB and theFHB?
A) The FHB is responsible for the enforcement of the fair housing law for real estate licensees. The REB is responsible for all other violators.
B) The REB reports to HUD, while the FHB does not.
C) They are the same thing.
D) The REB is responsible for the enforcement of the fair housing law for real estate licensees. The FHB is responsible for all other violators.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: D |
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