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Real Estate Licensing > A-1 Property Rights - Private & Governmental > Flashcards

A-1 Property Rights - Private & Governmental Flashcards

1
Q

Of the services into which the real estate business may be divided, which of the following is least likely to be offered by a real estate office?

a. financing
b. cma
c. property development
d. insurance

A

D - insurance

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2
Q

Ownership implies everything except:

a. possession
b. enjoyment
c. control
d. destruction

A

D - destruction

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3
Q

Of the following liens - delinquent property taxes since 2007, mortgage recorded in 2004, IRS lien recorded in 2008 - which has second priority?

a. IRS lien
b. 2nd year property taxes
c. mortgage
d. 3 year’s property tax

A

C - mortgage

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4
Q

You plan to build a high rise building over a railroad track. You need to purchase:

a. The railroad tracks and the air rights;
b. The air rights only;
c. The air rights and land for caissons for footings of the building
d. All of these

A

C - the air rights and land for caissons for footings of the building

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5
Q

Real property can be divided into corporeal and incorporeal. An incorporeal right would be:

a. easements
b. fences and walls
c. all improvements
d. house and barn

A

A - easements

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6
Q

A man leased a building with permission to install heavy machinery. In order to install said machinery, the lessee has to install a special foundation. The foundation so installed becomes a/an:

a. trade fixture
b. equity
c. improvement to the property
d. personalty

A

C - improvement to the property

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7
Q

Which of the following would be considered an interest in real property?

a. trade fixture
b. fences
c. note
d. chattels

A

B - fences

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8
Q

An article may be changed from realty to personalty by:

a. attachments
b. detachment
c. verbal declaration
d. order of the commissioner

A

B - detachment

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9
Q

Which of the following is always personal property?

a. appurtenances
b. fixtures
c. trade fixtures
d. shrubbery

A

C - trade fixtures

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10
Q

Which of the following would be considered personal property?

a. a tree
b. a bathtub
c. window blinds
d. harvested crops

A

D - harvested crops

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11
Q

Shelving and counters are securely fastened in a leased retail store. Such items are:

a. realty
b. fixtures
c. trade fixtures
d. none of these

A

C - trade fixtures

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12
Q

The two designations or classifications of water law in Arizona are:

a. Navigable and non navigable
b. Ground and surface
c. Flowing and stagnant
d. none of these

A

B - Ground and surface

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13
Q

Except during a time of emergency, property cannot be confiscated through use of:

a. escheat
b. eminent domain
c. police power
d. condemnation

A

C - police power

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14
Q

Which of the following would be a limitation of use of property by the government:

a. police power
b. escheat
c. taxes
d. deed restrictions

A

A - police power

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15
Q

In the allodial system of land ownership, which of the following would not apply?

a. police power
b. eminent domain
c. freedom
d. escheat

A

C - freedom

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16
Q

Zoning laws are the utilizations of a state’s: I. Police power; II. Power of eminent domain.

a. I only
b. II only
c. Both I and II
d. Neighter I or II

A

A - I only - Police power

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17
Q

What would not be considered commercial property?

a. office buildings
b. garages
c. loft or storage buildings
d. churches

A

D - churches

18
Q

Why does a city planner include industrial and commercial areas as part of the total community:

a. to produce jobs closer to home
b. to have a broader tax base
c. to consolidate small communities
d. to slow down growth

A

B - to have a broader tax base

19
Q

All of the following are used as a bases in determining whether items of personal property have become real property except:

a. agreement of the parties
b. mobility of the property
c. intent of the annexor
d. cost of the item

A

D - cost of the item

20
Q

A master plan adopted by a local planning commission may not be concerned with matters of:

a. flood control
b. sewage disposal
c. recreation
d. deed restrictions

A

D - deed restrictions

21
Q

Real estate taxes are levied:

a. biannually
b. annually
c. semi-annually
d. in even number years

A

B - annually

22
Q

Ordinarily, first half property taxes are due and payable:

a. March 1
b. May 1
c. October 1
d. Novermber 1

A

C - October 1

23
Q

Taxes are collected in the country by the:

a. Country treasurer
b. director of taxation
c. county assessor
d. country collector

A

A - country treasurer

24
Q

The word ‘ad valorem’ best means:

a. the adding of value
b. an assessment
c. according to value
d. worth is assumed

A

C - according to value

25
Q

If the county sells a lien due to unpaid property taxes, what redemption period does the owner have?

a. 6 months
b. 1 year
c. 3 years
d. 10 years

A

C - 3 years

26
Q

All of the following have the right to tax real property in the state of Arizona except:

a. Quasi public agencies
b. school boards
c. county commissioners
d. municipal governments

A

A - quasi public agencies

27
Q

Patents, trademarks, copyrights and royalties are an example of:

a. corporeal realty
b. tangible personalty
c. incorporeal realty
d. intangible personalty

A

D - intangible personalty

28
Q

The charges levied against real estate as a result of city installed sewer systems are called:

a. property taxes
b. a general lien
c. assessments
d. all of the above

A

C - assessments

29
Q

which of the following is not properly included in the concept of the power of eminent domain:

a. the right of government to confiscate property from the owner
b. an inherent power of government
c. just compensation at fair market value
d. taking property through legal procedures

A

A - the right of government to confiscate property from the owner

30
Q

Escheated property is sold at public auction by the sheriff. The proceeds of the sale:

a. go to the heirs of the deceased
b. go to the county where the property is located
c. are received by the state real estate department for deposit into the recovery fund
d. are deposited into the general fund of the State of Arizona

A

D - deposited into the general fund of the State of Arizona

31
Q

The rate of interest to be paid on past due property taxes is:

a. 16%
b. 7%
c. 12%
d. the rate currently dictated by the money market

A

A - 16%

32
Q

Municipalities have the right to restrict the use of properties located therein. This right comes from:

a. The Federal Constitution
b. inherent powers
c. enabling legislation
d. common law

A

C - enabling legislation

33
Q

Assessments for property improvements are placed on realty based on: 1. the assessed value of the subject property; 2. a pro rata share of the costs of the improvements to the property;

a. 1 only
b. 2 only
c. both 1 and 2
d. neither 1 or 2

A

B - 2 only - a pro rata share of the costs of the improvements to the property.

34
Q

Urban property is:

a. city property
b. country property
c. undesirable property
d. desirable property

A

A - city property

35
Q

When a real property tax lien has been sold for failure to pay taxes, the sale is held:

a. in February
b. October 1st
c. March 1st
d. November 1st

A

A - in February

36
Q

title to personalty is conveyed by means of a document called:

a. a security agreement
b. bill of sale
c. a general inclusive deed
d. an affidavit of purchase

A

B - bill of sale

37
Q

Chattel real would best be defined as:

a. fee simple
b. devise
c. intestate
d. personal property

A

D - personal property

38
Q

Those incorporeal rights in land which are attached to and ‘run with the land’ are called:

a. tangibles
b. appurtenances
c. patents
d. tenancies

A

B - appurtenances

39
Q

A buyer is obtainin a new loan to purchase property. The buyer is most likely to accept title with which of the following liens remaining unpaid as of close of escrow:

a. property taxes for the current year for the property being sold
b. back taxes on the property being sold
c. sellers’ note and deed of trust against the property being sold
d. IRS lien against the seller

A

A - property taxes for the current year for the property being sold

40
Q

When rights transfer with a deed this is referred to as:

a. chattel real
b. reversionary rights
c. leasehold
d. bundle of rights

A

D - bundle of rights

41
Q

Littoral rights would refer to:

a. building material
b. the heirs rights in deeded property
c. mineral rights and easements
d. property bordering lakes and oceans

A

D - property bordering lakes and oceans

Real Estate Licensing (18 decks)

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