Century Real Estate School KY 96Hour Sales Associate PreLicensing Course Exam
Question 1. Which type of estate grants the greatest interest in real property?
- Fee simple absolute
- Life estate
- Estate for years
- Periodic tenancy
Answer: A
Explanation: Fee simple absolute is the most complete form of
ownership, granting the holder full possessory rights and interest in the property indefinitely, subject only to government powers.
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Century Real Estate School KY 96Hour Sales Associate PreLicensing Course Exam
Question 2. What is the primary difference between joint tenancy and tenancy in common?
- Only joint tenancy includes the right of survivorship
- Both allow unequal shares
- Only tenancy in common can include corporations
- Joint tenancy allows ownership in severalty
Answer: A
Explanation: Joint tenancy includes the right of survivorship, so when
one owner dies, their interest passes to the surviving joint tenants, unlike tenancy in common.
Question 3. Which land description method uses distances, directions, and monuments? 2 / 4
Century Real Estate School KY 96Hour Sales Associate PreLicensing Course Exam
- Metes and bounds
- Rectangular (government) survey
- Lot and block
- Benchmark method
Answer: A
Explanation: Metes and bounds describes property boundaries using
physical features, distances, and directions.
Question 4. What is an example of a voluntary lien?
- Mortgage
- Property tax lien 3 / 4
Century Real Estate School KY 96Hour Sales Associate PreLicensing Course Exam
- Judgment lien
- Mechanic’s lien
Answer: A
Explanation: A mortgage is a voluntary lien because the property owner
willingly places it on the property to secure a loan.
Question 5. What type of water right is associated with rivers and streams?
- Riparian
- Littoral
- Prior appropriation
- Navigable rights
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