Real Estate Broker Exam — National Portion
Property characteristics, descriptions and use: practice questions
Our Real Estate Broker (National) bank has 36 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.
Question 1
Which is a characteristic of a homeowners association in a planned community?
- It issues building permits for the city and county
- It enforces CC&Rs and collects assessments
- It sets property tax rates
- It records deeds for the county
Show the answer
B. It enforces CC&Rs and collects assessments — HOAs operate under recorded declarations, enforce restrictions and levy assessments that can become liens.
Question 2
Air rights over a downtown parcel may be:
- Transferred only by will
- Owned only by the federal government
- Sold or leased separately from the surface
- Never separated from the surface
Show the answer
C. Sold or leased separately from the surface — Owners may sell or lease air rights, for example for a building over a rail yard, within limits on aviation.
Question 3
An easement created by continuous, open, hostile use of another's land for the statutory period is an easement by:
- Grant
- Condemnation
- Prescription
- Necessity
Show the answer
C. Prescription — Prescriptive easements arise from adverse use, similar to adverse possession but for use rather than ownership.
Question 4
A building that was legal when built but does not meet a new zoning ordinance may usually remain as a:
- Variance
- Spot zone
- Conditional use
- Nonconforming use
Show the answer
D. Nonconforming use — Prior lawful uses are often 'grandfathered' as nonconforming uses, sometimes with limits on expansion or rebuilding.
Question 5
Personal property included in a real estate sale, such as a riding mower, is transferred by a:
- Bill of sale
- Lease
- Mortgage
- Deed
Show the answer
A. Bill of sale — Deeds convey real property; a bill of sale conveys personal property.