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CHAMPIONS NATIONAL E XAM
PRACTICE EXAM QUESTI ONS
AND CORRECT ANSWER S |
LATEST | 100% PASS
Question :John owns the dominant estate with an
easement appurtenant. John sells the property. What happens to the easement?
CORRECT ANSWER:It belongs to the buyer.
Question :A commercial tenant's lease will expire at the
end of this month. He is currently in the process of removing his display cases from the shop. What is true?
CORRECT ANSWER :He can take these trade fixtures
as long as he removes them prior to lease end.
Question :John, Maria and Mark are joint tenants. Mark
dies. Maria sells her share to Jane. John and Jane are:
CORRECT ANSWER :tenants in common.
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Question :Mark's fence is trespassing on John's land. This
is an example of:
CORRECT ANSWER :an encroachment.
Question :John owns lakefront property. He has been
granted water rights to the lake. He has:
CORRECT ANSWER :littoral rights.
Question :A surveyor has described a property from a
point of beginning 200 feet north on Broad St. from the oak tree at the intersection of Main St. and Broad St., then 90° east for 100 ft., then 90° north for 50 ft., then 90° west for 100 ft., then 90° south for 50 feet back to the point of beginning. What type of description is this?
CORRECT ANSWER :Metes and Bounds
Question :Mary's parents gave her a life estate on a house.
John is the remainderman. Mary leased the property to Bob for 5 years. During the lease, Bob died. What happens to the property?
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CORRECT ANSWER :When the tenant dies the
property goes to Mary.
Question :A property owner has defaulted on his
mortgage and the lender has sent a notice of foreclosure.Before the foreclosure sale the owner is able to pay all he
owes and reclaim the property. This is an example of:
CORRECT ANSWER :redemption.
Question :The local government has changed property use
from commercial to R-1 (single-family residential) in
your neighborhood. This is an example of the right of:
CORRECT ANSWER :police power.
Question :Joe received payment from his title insurance
company to compensate him for a defect in his title.Subsequently he was awarded a judgment against the seller, and collected the funds from the seller, to compensate him for the same defect. The title company has claimed the right to a refund from Joe. What clause in
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the title policy allows the title company to make this claim?
CORRECT ANSWER :subrogation.
Question :A buyer who wants to be sure that he is getting
good title to a property should rely on:
CORRECT ANSWER :a general warranty deed.
Question :At closing a seller learns that he has an
unsatisfied M&M Lien on his property. This is most
likely the result of:
CORRECT ANSWER :a fence that was built on the
property, but not paid for.
Question :An appraiser requires a property to have four
characteristics to have value. They are:
CORRECT ANSWER :demand, utility, scarcity and
transferability.