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Property Ownership Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. A legal document that transfers ownership of real property from one party to another is known as what?

Question 2 2. A house has an appraised value of $250,000. The local government has a tax rate of $75 per $1,000 for calculating the property tax. What is the property tax?

Question 3 3. Which of the following is NOT an example of personal property?

Question 4 4. Land ownership is unique, because it usually includes many different types of rights. This is known as:

Question 5 5. Which of the following is NOT an example of real property?

Page 2

Question 6 6. Mary buys a tract of land that happens to include an old gold mine. Mary wants to know if she owns any rights to the mine. When Mary inspects the deed to the land, she'll need to look at:

Question 7 7. Frank owns several acres of rural land. ABC Mining Company is allowed to enter his land and extract copper from several mines. ABC owns the rights to the copper but doesn't possess the land. What type of interest does ABC Mining Company hold?

Question 8 8. Which of the following statements best describes a 'Tenancy at will?'

Question 9 9. A house has an appraised value of $600,000. If the property tax is 8 percent, calculate the property tax.

Question 10 10. Select the statement that is NOT true of property taxes.

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Question 11 11. A house with an appraised value of $750,000 is located in a place with a tax rate of $60 per $5,000. What is the property tax?

Question 12 12. Before I build a log cabin on my land, I need to know:

Question 13 13. Marco leases the entire 5th floor of a downtown office building for his law firm. He'd like to add some antennas, for better WiFi reception, to the top of the building. Before he does this, he needs to know:

Question 14 14. Which type of deed transfers the ownership interest the seller has in the property, but does not promise, warrant, or guarantee that interest?

Question 15 15. Which of the following is NOT required for the legal execution of a deed?

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Question 16 16. Which of these is the last step in the voluntary property transfer process?

Question 17 17. Mary owns her home outright. She can sell it, deed it, or will it to someone else if she wishes. What type of estate is this?

Question 18 18. Craig now owns his grandmother's old home in rural Georgia. It used to be a very quiet neighborhood, but now it's in the flight pattern for the Atlanta airport. Craig would like to prevent airplanes from flying over his property. Which of the following is true?

Question 19 19. David wills his real property to Darlene but specifies that Douglas can live on and possess the property until Douglas' death. What type of interest does Douglas possess?

Question 20 20. Which of the following is NOT a voluntary property transfer?

Page 5

Question 21 21. Real property includes all items that would normally remain in place when an owner of real property moves. These items are known as _____.

Question 22 22. Which of the following is NOT an example of tangible property?

Question 23 23. Which of the following is NOT an example of intangible property?

Question 24 24. Charlie owns an apartment that is located above Curt's drug store. Charlie is allowed to use the stairs in the drug store to get to his apartment. Charlie holds:

Question 25 25. A house has a property tax value of $12,800. What is the appraised value of the house if tax is calculated based on 16 percent of the appraised value?

Property Ownership Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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