Multiple Choice Questions 1) What term describes everything of a permanent nature which may be holden? A) Tenements B) Testaments C) Hereditaments D) Heirlooms Answer: 2) Who is the person to whom a title is transferred? A) Donee B) Grantee C) Consignee D) Legatee Answer: 3) What term describes a formal declaration before an authorized official, by a person who executes a deed, that it is his or her free act? A) Certification B) Verification C) Acknowledgment D) Agreement Answer: 4) What words of conveyance can be used in a valid deed? A) Grant B) Convey C) Transfer

D) All of the above Answer: 5) What is a country of origin of the metes and bounds system? A) England B) France C) Spain D) United States Answer: 6) What term describes intersecting lines running east and west? A) Meridians B) Base lines C) Bounds D) Metes Answer: 7) What term describes a map of the subdivision of a tract of land? A) Plat B) Plat map C) Plot D) All of the above Answer: 8) What book is used to record a plat? A) Locus book B) Plot book C) Plat book D) Tract book Answer: 9) From a buyer's perspective, what is the most desirable type of a deed? A) Special warranty deed

B) Bargain and sale deed C) Quitclaim deed D) None of the above Answer: 10) What is a commonly used deed in the U.S.? A) General warranty deed B) Full warranty deed C) Common warranty deed D) Ordinary warranty deed Answer: 11) What other term describes a general warranty deed? A) Full covenant and warranty deed B) Universal covenant and warranty deed C) Complete covenant and warranty deed D) Absolute covenant and warranty deed Answer: 12) Under a general warranty deed, against what claims will the grantor defend the title? A) Claims arose before the grantor owned the property B) Claims arose during the time when the grantor owned the property C) Claims of all persons D) Liens against the property Answer: 13) What covenant is included in a general warranty deed? A) Grantor has good title B) No encumbrances exist C) Grantor has good right to sell and convey the property D) All of the above Answer:

14) What clause in a general warranty deed defines the extent of ownership? A) Addendum B) Habendum C) Ad damnum D) Estoppel Answer: 15) What other term describes a limited warranty deed? A) Particular warranty B) Special warranty C) Unique warranty D) Unusual warranty Answer: 16) What warranty is included in a limited warranty deed? A) No defects arose in the title during the time that the grantor owned the property B) No defects arose in the title before the grantor owned the property C) All of the above D) None of the above Answer: 17) Under what circumstances is a quitclaim deed commonly used? A) To cure a defect in the chain of title B) Grantor is not sure whether his or her title is good or bad C) All of the above D) None of the above Answer: 18) What term describes a deed conveying the grantor's interest in the real property and containing no warranties? A) Quitclaim deed B) Deed without covenants C) Fiduciary deed

D) All of the above Answer: 19) What is a necessary part of a quitclaim deed? A) Consideration B) Warranties C) All of the above D) None of the above Answer: 20) What state uses quitclaim deeds? A) Colorado B) New York C) Washington D) All of the above Answer:

Multiple Choice Questions 1) What satisfies the lender's need for a security interest? A) Mortgage B) Mortgage deed C) All of the above D) None of the above Answer: C Answer: 2) What term describes a written promise by the borrower to pay a sum of money to the lender? A) Affirmation B) Promissory note C) Verification

D) Nudum pactum Answer: 3) What is an example of collateral? A) Condominium B) Beach house C) Ranch D) All of the above Answer: 4) What clause in the mortgage provides that the mortgage deed shall be void on payment of the obligation? A) Malfeasance B) Misfeasance C) Defeasance D) Nonfeasance Answer: 5) What term describes a legal theory relating to mortgages? A) Common law B) Res C) Chattels D) Bequest Answer: 6) What is another name of a lien theory? A) Unbiased theory B) Equitable theory C) Fair theory D) Impartial theory Answer:

7) What term describes a mortgage with an interest rate that fluctuates according to changes in an index to which it is connected? A) Variable-rate mortgage B) Flexible-rate mortgage C) Adjustable rate mortgage D) All of the above Answer: 8) What term describes a mortgage with an interest rate that does not change during the life of the mortgage? A) Fixed-rate mortgage B) Permanent rate mortgage C) Stable rate mortgage D) Steady rate mortgage Answer: 9) What is a characteristic of a deed of trust? A) Title is conveyed to a trustee B) Trustee holds title as security for the debt C) Use of non-judicial foreclosures D) All of the above Answer: 10) What state uses a deed of trust? A) California B) Indiana C) Hawaii D) Florida Answer: 11) What does the word "foreclose" mean? A) Shut out B) Bar C) Terminate D) All of the above Answer:

12) What clause in a mortgage causes the entire balance of the loan to become due when a default occurs? A) Addendum B) Acceleration C) Habendum D) Exordium Answer: 13) What term describes the right to redeem the property any time before the completion of a foreclosure? A) Equity of redemption B) Lis pendens C) Estoppel D) Chose in action Answer: 14) What legal documents grant the right of redemption to mortgagors? A) State constitutions B) Statures C) Universal Declaration of Human Rights D) U.S. Constitution Answer: 15) What happens when a mortgagor sells real property that has a mortgage? A) Only the equity of redemption is sold B) The original mortgagor must still pay the mortgagee C) All of the above D) None of the above Answer: 16) What term describes a situation when a mortgagor sells the premises "subject to the mortgage that the grantee assumes and agrees to pay"? A) Mortgage take-over B) Mortgage assumption C) All of the above D) None of the above Answer:

17) What is a junior mortgage? A) Second mortgage B) Mortgage on the equity of redemption C) Mortgage subject to a prior mortgage D) All of the above Answer: 18) What is involved in refinancing? A) Extinguishing a debt obligation B) Replacing a debt obligation with a new debt that has different terms C) All of the above D) None of the above Answer: 19) What document does the mortgagor sign when a mortgage debt is paid? A) Mortgage termination B) Mortgage discharge C) Mortgage fulfillment D) Mortgage release Answer: 20) What document shows that specified parcels of property are released from the encumbrance? A) Partial release of mortgage B) Limited release of mortgage C) Incomplete release of mortgage D) All of the above Answer:

Multiple Choice Questions 1) Who are parties to a lease? A) Lessor and lessee B) Promisor and promisee C) Grantor and grantee D) Donor and donee Answer: 2) What term describes an owner of real property? A) Lessor B) Landlord C) All of the above D) None of the above Answer: 3) What is an example of a leasehold estate? A) Timesharing B) Tenancy at sufferance C) Joint tenancy D) Tenants in common Answer: 4) Under common law, what kind of property was a leasehold estate? A) Real property B) Personal property C) Community property D) Intellectual property Answer: 5) What term describes a tenancy that continues for successive periods until one party terminates it?

A) Periodic B) Sporadic C) Episodic D) Cyclic Answer: 6) What is a way to make a tenancy from year to year? A) By a lease agreement with no specified ending date B) By implication C) All of the above D) None of the above Answer: 7) What other term describes a periodic tenancy? A) Tenancy from year to year B) Tenants in entirety C) Tenancy for years D) Tenants in partnership Answer: 8) What is a usual lease limit for tenancy for years? A) 100 years B) 80 years C) 90 years D) 99 years Answer: 9) What is a characteristic of tenancy at will? A) Estate in real property for an imprecise period B) No writing is required for its creation C) May be terminated at the will by either party D) All of the above Answer:

10) What is a common feature of a tenancy at will and a periodic tenancy? A) Agreed upon term of the occupancy B) No stated ending date of the occupancy C) All of the above D) None of the above Answer: 11) What term describes a tenant at sufferance? A) Unlawful tenant B) Illegal tenant C) Holdover tenant D) Unauthorized tenant Answer: 12) What is a characteristic of a tenant at sufferance? A) Bound by the terms of a prior lease B) Has no estate or title C) Holds possession of the premises wrongfully D) All of the above Answer: 13) What term describes a person having permission to do certain acts? A) Lessee B) Licensee C) Invitee D) Consignee Answer: 14) What is an element of a valid lease? A) Consideration B) Affidavit C) Verification D) Habendum Answer:

15) What term describes an assignment of a lease? A) Sublease B) Underlease C) Sublet D) All of the above Answer: 16) What is a role of a landlord in a sublease? A) Approval of the sublease B) Approval of a subtenant C) All of the above D) None of the above Answer: 17) What warranty does a landlord give when renting real property for residential purposes? A) Express warranty of habitability B) Implied warranty of habitability C) All of the above D) None of the above Answer: 18) What is included in quiet enjoyment of the leased premises? A) Right to possess the property B) Right to be undisturbed in the property's possession C) All of the above D) None of the above Answer: 19) What is included in a legal eviction? A) No use of force B) Landlord must give a tenant notice required by state law 4C) Landlord must use a legal process to evict a tenant D) All of the above Answer:

20) In some states, what term describes the legal action used by landlords to evict tenants? A) Unlawful detainer B) Illegal detainer C) Illicit detainer D) Unauthorized detainer Answer: