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DIAGNOSTIC TEST - 1
MULTIPLE CHOICE
Direction : Choose the best answer. In your answer sheet, find the number of
the question and fill in the space that corresponds to the letter of the answer
you have chosen.
1.
The physical characteristic of real property that no two parcels of land are
exactly alike is called ___________.
a. Immobility
b. Nonhomogeneity
c. Situs
d. Indestructibility
2. The economic characteristics of real property include all of the following except
_____________.
a. Nonhomogeneity
b. Scarcity
c. Situs
d. Fixity (permanence of investment)
3. Which of the following factors would not be considered when determining
whether an item of personal property has become real?
a. Method of attachment
b. Value of the item
c. Permanence of the installation
d. Agreement between the parties
4. A shopping mall is an example of what type of real estate?
a. Industrial
b. Commercial
c. Residential
d. Special Purpose
5. Laws developed through the years by the courts based on custom and usage are
referred as _____________.
a. The Allodial System
b. Common Law
c. Statute Law
d. Emblements
a.
b.
c.
d.
22.Services provided by the real estate industry include all of the following except
________________.
a. Bringing home buyers and sellers together.
b. Managing real estate for investors.
c. Selling homeowners insurance
d. Estimating the value of real estate.
23.Which of the following is considered to be personal property?
a. Trees growing on the property.
b. Trade fixtures installed on the property.
c. A garage.
d. A driveway.
24.Which economic characteristic of real estate refers to the concept that changes
in a parcel of land affect its value either favorably or unfavorably?
a. Fixity
b. Scarcity
c. Nonhomogeneity
d. Modifications
25.A tenant occupies a rental unit in an apartment building and installs new wooden
kitchen cabinets. At the end of the lease the tenant wishes to remove the
cabinets. Which of the following is true regarding removal of the cabinets?
a. The cabinets can be removed by the tenant.
b. The cabinets can be removed, but the tenant owes compensation to the
property owner.
c. The cabinets must stay, but the tenant is entitled to compensation.
d. The cabinets must stay.
26.A church is an example of what type of real estate?
a. Residential
b. Special Purpose
c. Industrial
d. Commercial
27.A restaurant owner occupying a leased space in commercial building installs a
large neon sign in the window. The sign would probably be considered
____________________.
a. An emblements
b. A Trade Fixture
c. Real Property
d. A Fixture.
28.What physical characteristic makes real estate easy for local governments to tax
and causes it to be heavily influenced by changes in the surrounding areas?
a. Indestructibility
b. Nonhomogeneity
c. Immobility
d. Situs
29.Which of the following is included in the definition of real estate but not in the
definition of land?
a. The air rights.
b. The propertys surface.
c. Below that property to the center of the earth.
d. Fixtures on the property.
30.Which economic characteristics of real estate refer to the concept that the
supply of land is limited and therefore strong demand in certain areas will
increase property values?
a. Fixity
b. Scarcity
c. Nonhomogeneity
d. Modifications