1. Amy has acquired the right to use and occupy land during the life of her friend Jack. Amy has what interest?

a) Lifetime leasehold

b) life estate

c) Life estate alto

d) fee simple determinable

2. Bob has granted his neighbor the right to use Bobs driveway. What interest does the neighbor have?

a) an easement

b) a leasehold

c) fee simple absolute

d) a defeasible fee

3. Which of the following types of collateral can be perfected only by filing a financing statement?

a) Artwork

b) trademarks

c) farm equipment

d) consumer goods