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Crash Course > CH2: NC Real Estate Exam Practice Questions | Property Ownership > Flashcards

CH2: NC Real Estate Exam Practice Questions | Property Ownership Flashcards

1
Q

Which of the following is (are) correct?

A. An easement provides a nonpossessory interest in land

B. The land on which an easement exists is the dominant tenement

C. The land that benefits from an easement is the servient tenement

D. All of the above

A

A. An easement provides a nonpossessory interest in land

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2
Q

Which of the following is a right in the property of another that results from ownership in a particular parcel of real estate?

A. Easement in gross

B. Appurtenant easement

C. License

D. Condemnation

A

B. Appurtenant easement

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3
Q

An easement is terminated:

A. When the purpose for which the easement was created ceases to exist

B. When the adjoining dominant and servient
tenements are combined into one tract of land

C. By abandonment of the easement by the dominant owner

D. All of the Above

A

D. All of the Above

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4
Q

Easements may be created in all of the following EXCEPT:

A. Condemnation

B. Dedication

C. Prescription

D. Assessment

A

D. Assessment

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5
Q

A tenant in common:

A. May sell her interest in the property

B. May pledge the entire property as security for a mortgage loan

C. May not bring legal action to partition the property

D. Has the right of survivorship in the property

A

A. May sell her interest in the property

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6
Q

If a property owner gives a specific person permission to cross his property, this is a(n):

A. Easement in gross

B. Easement appurenant

C. Lease

D. Encroachment

A

A. Easement in gross

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7
Q

Personal property attached to real property is prevented from becoming real property by which of the following:

A. Value

B. An appurtenance

C. Security agreement and financing statement

D. Mineral rights

A

C. Security agreement and financing statement

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8
Q

None of the following includes the right of survivorship in North Carolina EXCEPT:

A. Tenancy in Common

B. Tenancy by the Entirety

C. Life Estate

D. Joint Tenancy

A

B. Tenancy by the Entirety

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9
Q

The creation of an easement by condemnation results from the exercise of which of the following:

A. Prescription

B. Eminent Domain

C. Dedication

D. Implication

A

B. Eminent Domain

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10
Q

A fee simple is determinable:

A. Is an example of a non freehold estate

B. Typically stipulates the conveyance is “as long as” it is used for a particular purpose

C. Is an example of pur autre vie (for the life of another)

D. Is an example of freehold rights until the original owner’s rights are determined to be invalid.

A

B. Typically stipulates the conveyance is “as long as” it is used for a particular purpose

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11
Q

Liens, easements, encroachments, and restrictive covenants are examples of which of the following:

A. Emblements

B. Estovers

C. Estates

D. Encumbrances

A

D. Encumbrances

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12
Q

If a widow inherits an estate by will granting her the right of use and possession of a parcel of land for the rest of her life, with the provision that the estate will go to her children in a fee simple upon her death, she has received:

A. An inheritable freehold estate

B. A life estate with remainder

C. A life estate pur autre vie

D. None of the above

A

B. A life estate with remainder

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13
Q

In the cooperative form of ownership:

A. The owner owns his unit in severalty

B. Each owner owns an interest in the common areas

C. The owners own the building as tenants in common

D. None of the above

A

D. None of the above

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14
Q

The highest and best form of real estate in real property is which of the following:

A. Appurtenant easement

B. Defeasible fee

C. Life estate in reversion

D. Fee simple absolute

A

D. Fee simple absolute

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15
Q

An example of an appurtenant easement would be:

A. City water and sewer easement

B. Easement for a neighbor friend to cross a nearby property to access the beach

C. An easement for the adjoining property to have a driveway over the subject property

D. A railroad right of way easement

A

C. An easement for the adjoining property to have a driveway over the subject property

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16
Q

Estate for years, estates from year to year, estates at will, and estates by sufferance:

A. Are leasehold estates

B. Create a legal relationship between the parties of the landlord and tenant

C. Are non-freehold estates

D. All of the above

A

D. All of the above

17
Q

All of the following are real property EXCEPT:

A. Standing Timber

B. Underground minerals

C. Readily moveable items

D. Naturally growing vegetation

A

C. Readily moveable items

18
Q

All of the following involve ownership of real property EXCEPT:

A. Cooperatives

B. Condominiums

C. Townhouses

D. Timeshares

A

A. Cooperatives

19
Q

A manufactured home that is towed to the land and placed on a permanent foundation but still has the wheel, axles, and towing hitch attached will be considered:

A. Personal Property

B. Real Property

C. An improvement

D. A fixture

A

A. Personal Property

20
Q

Which of the following types of ownership requires unity of interest, title, time and possession?

A. Cooperative

B. Tenancy in Common

C. Joint Tenancy

D. Condominium

A

C. Joint Tenancy

21
Q

Title held in the name of a corporation with many stockholders is considered to be held as:

A. Severalty

B. Joint tenancy

C. Tenancy in common

D. Tenancy by the entireties

A

A. Severalty

22
Q

The purchaser of a condo timeshare:

A. Takes title for a specific time period each calendar year

B. May not convey title to anyone else

C. Has a 30 day right to rescind the purchase contract

D. All of the above

A

A. Takes title for a specific time period each calendar year

23
Q

The purchaser of a condominium unit receives title to the land on which the condominium is situated as a:

A. Tenant by the entirety

B. Tenant in common

C. Joint tenant

D. Tenant at sufferance

A

B. Tenant in common

24
Q

An encumbrance always:

A. has a positive effect on property value

B. Has a negative effect on property value

C. Is a lien

D. None of the above

A

D. None of the above

25
Q

Ownership as tenants by the entirety includes which of the following?

A. The right of one owner to convey title to his share of ownership

B. The right of survivorship

C. Ownership of an unequal interest in the property with another

D. Conversion to ownership as joint tenants if the owners are divorced

A

B. The right of survivorship

26
Q

New construction timeshare properties in North Carolina require:

A. The developer to have a real estate license before sales are made

B. Project registration with the Commission before marketing the units for sale

C. All timeshare salespersons must have a timeshare license in NC

D. The purchaser to be given a right of rescission for 3 days from purchase

A

B. Project registration with the Commission before marketing the units for sale

5 days for rescission

27
Q

All of the following are examples of specific liens except:

A. Income tax liens

B. Mortgage liens

C. Mechanic’s liens

D. Real property tax liens

A

A. Income tax liens

28
Q

Which of the following is an estate that automatically renews itself for consecutive periods?

A. Estate at will

B. Life estate

C. Estate from year to year

D. Estate for years

A

C. Estate from year to year

29
Q

The item(s) included as real estate is (are):

A. Trees

B. Fences

C. A built-in microwave

D. All of the above

A

D. All of the above

30
Q

Timeshare property in NC:

A. Must be for a residential use

B. Is considered personal property

C. Is the right to occupy a property during five or more separated time periods over five or more years

D. Allows a bona-fide employee of the developer to sell the units without a real estate license

A

C. Is the right to occupy a property during five or more separated time periods over five or more years

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