IRES - Iowa Real Estate Salesperson

Question 1: A man deeds his farmhouse to his daughter for as long as his elderly aunt shall live, so the daughter's ownership will end at the aunt's death rather than the daughter's own. Which estate BEST describes what the daughter holds?

An ordinary life estate

A fee simple determinable

A leasehold estate

A life estate pur autre vie

Question 2: A student preparing for the survey portion of the exam keeps confusing several grid terms. Which term names the six-mile-wide strips of land that run north and south, parallel to a principal meridian, and are numbered consecutively east or west of it?

Ranges

Tiers

Sections

Townships

Question 3: Courts weigh five MARIA factors when deciding whether an installed item has become a fixture, yet decisions repeatedly turn on one factor the texts call the single most important. Which of these considerations do courts generally treat as controlling above the others?

Method of annexation

Adaptation to the property

Intention of the party

Agreement of the parties

Question 4: For many years a neighbor has driven daily across the same strip of an owner's field to reach a garage, doing so openly, continuously, and without ever asking permission for the full period state law requires. Which easement has the neighbor most likely acquired?

An easement by necessity

A license coupled with interest

An easement in gross

An easement by prescription

Question 5: Several investors want to hold a commercial building through an entity that shields their personal assets like a corporation yet passes income directly to them, avoiding the double taxation a corporation faces. Which business form best meets both of these goals?

A limited liability company

A general partnership

A C corporation

A sole proprietorship

Question 6: A grandfather conveys a farmhouse acreage to his bank, directing it to hold and manage the land and use the income for his granddaughter's benefit. The bank holds legal title and carries out his instructions. What role does the bank play?

Trustor

Beneficiary

Trustee

Remainderman

Question 7: To standardize descriptions of newly acquired federal land, Congress established a system that locates each parcel within a nationwide grid formed by intersecting principal meridians running north and south and base lines running east and west. Which method is this?

Metes and bounds

Lot and block

Torrens system

Rectangular survey system

Question 8: In a metes-and-bounds description a surveyor references fixed objects such as an iron pin, a stone, or the center of a creek to mark corners, and the actual location of these objects takes precedence over any recorded footage. What are they called?

Benchmarks

Meridians

Monuments

Plat maps

Question 9: A resident buys into an apartment building by purchasing shares of stock in the corporation that owns the entire building and receiving a proprietary lease to occupy one apartment. She owns personal property, not real estate. Which ownership arrangement is this?

A condominium

A timeshare estate

A tenancy in common

A cooperative

Question 10: A lender is told that even after strip mining, paving, or a flood, a parcel of land continues to exist and retains its geographic location, though the buildings on it may wear out and lose value. Which physical characteristic does this endurance describe?

Indestructibility

Immobility

Uniqueness

Permanence of investment

Question 11: An economics segment of a licensing class stresses that although much land remains undeveloped, the amount suitable for a particular use in a given location is finite and cannot expand. Which economic characteristic of land does this limited supply illustrate?

Situs

Scarcity

Improvements

Permanence of investment

Question 12: Three unrelated friends buy a Waterloo triplex together, each taking an undivided fractional interest that each may separately sell or leave by will, with no automatic survivorship among them. Which form of co-ownership have they most likely created?

Tenancy in common

Joint tenancy

Tenancy by the entirety

Ownership in severalty

Question 13: A buyer insists that a particular parcel of land has no true substitute because no other tract shares its exact coordinates or its identical features, however small they may be. This principle, also labeled nonhomogeneity, is one of land's physical characteristics. Which term names it?

Immobility

Scarcity

Indestructibility

Uniqueness

Question 14: A ranch borders a flowing river, and the owner's right to make reasonable use of that adjacent watercourse is tied to the land and generally passes with it. Which category of rights describes an owner's use of water in an abutting stream?

Littoral rights

Subsurface rights

Riparian rights

Air rights

Question 15: A departing commercial tenant in Iowa City fails to remove several bolted display cases by the final day of the lease, and the landlord keeps them. By what legal principle does the landlord acquire ownership of these abandoned trade fixtures?

Severance

Accession

Annexation

Emblement

Question 16: For longer than the statutory period, a claimant has occupied a strip of a neighboring farmhouse parcel openly, exclusively, continuously, and without the true owner's consent, then records a quiet-title decree with the county recorder. By what means did the claimant gain title?

Easement by prescription

Accretion

Adverse possession

Escheat

Question 17: A tenant farmer outside Ames plants and cultivates a corn crop, then the land is sold before harvest. The tenant retains the right to reenter and gather that crop because annually cultivated plantings carry a special classification. Which term names these crops?

Emblements

Fructus naturales

Fixtures

Appurtenances

Question 18: A survey ordered before a Council Bluffs sale reveals that the neighbor's new garage extends about two feet over the shared boundary onto the seller's lot. Which term describes this unauthorized intrusion of a structure across the property line?

An easement in gross

A deed restriction

A lien

An encroachment

Question 19: An owner near Sioux City sells the back portion of an acreage, and the newly created rear parcel has no way to reach any public road except across the seller's remaining front land. A court orders access. Which easement arises here?

An easement by prescription

An easement in gross

An easement by necessity

A license

Question 20: A condominium in West Des Moines includes an assigned parking space and a recorded easement that normally pass to whoever buys the unit, though neither is a physical part of the dwelling. Which term describes a right that runs with the land this way?

An appurtenance

A trade fixture

A chattel

An emblement

IRES Iowa Real Estate Salesperson - Set 2 - Part 1

Question 1: A man deeds his farmhouse to his daughter for as long as his elderly aunt shall live, so the daughter's ownership will end at the aunt's death rather than the daughter's own. Which estate BEST describes what the daughter holds?

Question 2: A student preparing for the survey portion of the exam keeps confusing several grid terms. Which term names the six-mile-wide strips of land that run north and south, parallel to a principal meridian, and are numbered consecutively east or west of it?

Question 3: Courts weigh five MARIA factors when deciding whether an installed item has become a fixture, yet decisions repeatedly turn on one factor the texts call the single most important. Which of these considerations do courts generally treat as controlling above the others?

Question 4: For many years a neighbor has driven daily across the same strip of an owner's field to reach a garage, doing so openly, continuously, and without ever asking permission for the full period state law requires. Which easement has the neighbor most likely acquired?

Question 5: Several investors want to hold a commercial building through an entity that shields their personal assets like a corporation yet passes income directly to them, avoiding the double taxation a corporation faces. Which business form best meets both of these goals?

Question 6: A grandfather conveys a farmhouse acreage to his bank, directing it to hold and manage the land and use the income for his granddaughter's benefit. The bank holds legal title and carries out his instructions. What role does the bank play?

Question 7: To standardize descriptions of newly acquired federal land, Congress established a system that locates each parcel within a nationwide grid formed by intersecting principal meridians running north and south and base lines running east and west. Which method is this?

Question 8: In a metes-and-bounds description a surveyor references fixed objects such as an iron pin, a stone, or the center of a creek to mark corners, and the actual location of these objects takes precedence over any recorded footage. What are they called?

Question 9: A resident buys into an apartment building by purchasing shares of stock in the corporation that owns the entire building and receiving a proprietary lease to occupy one apartment. She owns personal property, not real estate. Which ownership arrangement is this?

Question 10: A lender is told that even after strip mining, paving, or a flood, a parcel of land continues to exist and retains its geographic location, though the buildings on it may wear out and lose value. Which physical characteristic does this endurance describe?

Question 11: An economics segment of a licensing class stresses that although much land remains undeveloped, the amount suitable for a particular use in a given location is finite and cannot expand. Which economic characteristic of land does this limited supply illustrate?

Question 12: Three unrelated friends buy a Waterloo triplex together, each taking an undivided fractional interest that each may separately sell or leave by will, with no automatic survivorship among them. Which form of co-ownership have they most likely created?

Question 13: A buyer insists that a particular parcel of land has no true substitute because no other tract shares its exact coordinates or its identical features, however small they may be. This principle, also labeled nonhomogeneity, is one of land's physical characteristics. Which term names it?

Question 14: A ranch borders a flowing river, and the owner's right to make reasonable use of that adjacent watercourse is tied to the land and generally passes with it. Which category of rights describes an owner's use of water in an abutting stream?

Question 15: A departing commercial tenant in Iowa City fails to remove several bolted display cases by the final day of the lease, and the landlord keeps them. By what legal principle does the landlord acquire ownership of these abandoned trade fixtures?

Question 16: For longer than the statutory period, a claimant has occupied a strip of a neighboring farmhouse parcel openly, exclusively, continuously, and without the true owner's consent, then records a quiet-title decree with the county recorder. By what means did the claimant gain title?

Question 17: A tenant farmer outside Ames plants and cultivates a corn crop, then the land is sold before harvest. The tenant retains the right to reenter and gather that crop because annually cultivated plantings carry a special classification. Which term names these crops?

Question 18: A survey ordered before a Council Bluffs sale reveals that the neighbor's new garage extends about two feet over the shared boundary onto the seller's lot. Which term describes this unauthorized intrusion of a structure across the property line?

Question 19: An owner near Sioux City sells the back portion of an acreage, and the newly created rear parcel has no way to reach any public road except across the seller's remaining front land. A court orders access. Which easement arises here?

Question 20: A condominium in West Des Moines includes an assigned parking space and a recorded easement that normally pass to whoever buys the unit, though neither is a physical part of the dwelling. Which term describes a right that runs with the land this way?

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