OKRES - Oklahoma Real Estate Salesperson Exam

Question 1: A buyer wants to understand the basic legal line between the two great classes of property, because whether an item is treated as land or as movable goods changes how it is transferred. Which of the following interests is classified as personal property rather than real property?

A mineral right in place

An appurtenant easement

A freestanding sofa

An in-ground swimming pool

Question 2: A dispute arises over whether an installed item passed to the buyer with the house or remained the seller's to remove. Courts weigh several factors to decide whether personal property has become a fixture. Which factor is generally the most important in that determination?

The intention of the annexer

The purchase price paid

The item's color and style

The seller's spoken promise

Question 3: A commercial tenant installs shelving, display cases, and a walk-in cooler to run a retail bakery in leased space. As the lease ends, the tenant wants to remove these business items. Which of the following best describes the tenant's right regarding these installations?

They automatically pass to the landlord

They may never be removed

They belong to the next tenant

Trade fixtures; the tenant may remove

Question 4: Instructors often describe complete ownership of real estate as a collection of separate legal rights that an owner may keep together or convey one at a time, such as the right to sell, lease, or mortgage. What is this collection of ownership rights commonly called?

The chain of title

The bundle of legal rights

The right of survivorship

The doctrine of severalty

Question 5: Real estate has several physical characteristics that set it apart from other assets and that help explain why local factors dominate its value. One such characteristic is that a given parcel can never be relocated. Which physical characteristic does this describe?

Scarcity

Improvement

Immobility

Situs

Question 6: An appraiser notes that two nearly identical homes command very different prices mainly because buyers strongly prefer one neighborhood over the other. This preference for a particular location is one of the economic characteristics of land. Which characteristic is being described here?

Situs, or area preference

Indestructibility of land

Uniqueness of parcels

Immobility of land

Question 7: Study materials distinguish among land, real estate, and real property as widening concepts. A student wants the broadest of the three, the one that adds the legal rights of ownership to the physical land and its permanent improvements. Which term captures that broadest concept?

Land

Personalty

Emblements

Real property

Question 8: A tenant farmer plants and cultivates a corn crop on leased ground. Before harvest, the lease term ends through no fault of the farmer. Under the doctrine that treats these annual cultivated crops as the farmer's personal property, what may the farmer do?

Nothing; the crop passes with the land

Re-enter to harvest the planted crop

Demand the landlord replant the field

Only recover the seed cost

Question 9: A textbook describes an ownership interest that is the most complete form of ownership the law recognizes, continues for an indefinite time, and passes to the owner's heirs, limited only by public and private restrictions. Which estate does this description identify?

A conventional life estate

A leasehold estate

Fee simple absolute

A fee simple determinable

Question 10: A grantor conveys land to a charity so long as the property is used as a public park, intending that ownership end by itself the instant the land is used otherwise. Which estate does this create, and what interest does the grantor keep?

Determinable fee; possibility of reverter

Condition subsequent; right of reentry

Life estate; reversion

Fee simple absolute; nothing

Question 11: A deed conveys land on the condition that no alcohol is ever sold there, and provides that if the condition is broken the grantor may retake the property. The grantor must act to recover title rather than regaining it automatically. Which estate is this?

Fee simple determinable

Ordinary life estate

Leasehold for years

Fee simple on condition subsequent

Question 12: A widow receives, for the remainder of her life, the right to possess and use a home, to collect any rents it produces, and even to mortgage her interest, all ending at her death. What is the name for the holder of this kind of interest?

A remainderman

A life tenant

A lessee for years

A joint tenant

Question 13: A property owner grants a home to a caregiver, but measures the length of that interest by the lifetime of a disabled relative rather than by the caregiver's own life. When the disabled relative dies, the interest ends. What is this arrangement called?

A life estate pur autre vie

A remainder interest

A homestead estate

A tenancy at sufferance

Question 14: An owner creates a life estate but does not name anyone to receive the property once the life estate ends. Instead, ownership will return to the original grantor at that time. What is the grantor's retained future interest correctly called?

A remainder interest

A possibility of reverter

A reversionary interest

A right of reentry

Question 15: Many states protect a portion of the family home from certain creditors during the occupants' lifetime, shielding it from judgments for ordinary debts like charge accounts, though not from a purchase mortgage or property taxes. What is this statutory protection called?

A dower interest

A curtesy interest

An elective share

A homestead

Question 16: Two neighboring lots are owned separately, and the owner of the rear lot holds a permanent right to cross the front lot to reach the road. When the rear lot is sold, this crossing right passes to the new owner. What kind of easement is this?

An easement in gross

An easement appurtenant

A mere license

An encroachment

Question 17: In an easement appurtenant, one parcel enjoys the benefit of the easement while the other must bear the burden of it. A student is learning the labels for these two parcels. Which term names the parcel that benefits from the easement?

The dominant tenement

The servient tenement

The leasehold estate

The reversionary parcel

Question 18: A power company holds a recorded right to run electric transmission lines across many private parcels, and this right benefits the company itself rather than any neighboring parcel of land. What type of easement does a utility right-of-way like this represent?

An easement appurtenant

An easement by necessity

An easement in gross

A prescriptive easement

Question 19: An owner subdivides land and sells a back parcel that has no way to reach any public road except across the seller's retained land. A court recognizes a right of access so the buyer is not landlocked. What kind of easement is this?

An easement in gross

A license coupled with interest

A party wall easement

An easement by necessity

Question 20: A neighbor has openly driven across the same strip of an owner's land several times daily for many years, without permission and without the owner ever excluding him, exceeding the period set by state law. Which type of easement may the neighbor acquire this way?

An easement appurtenant by grant

An easement by prescription

An easement in gross by deed

A revocable license

OKRES Oklahoma Real Estate Salesperson Exam - Set 2 - Part 1

Question 1: A buyer wants to understand the basic legal line between the two great classes of property, because whether an item is treated as land or as movable goods changes how it is transferred. Which of the following interests is classified as personal property rather than real property?

Question 2: A dispute arises over whether an installed item passed to the buyer with the house or remained the seller's to remove. Courts weigh several factors to decide whether personal property has become a fixture. Which factor is generally the most important in that determination?

Question 3: A commercial tenant installs shelving, display cases, and a walk-in cooler to run a retail bakery in leased space. As the lease ends, the tenant wants to remove these business items. Which of the following best describes the tenant's right regarding these installations?

Question 4: Instructors often describe complete ownership of real estate as a collection of separate legal rights that an owner may keep together or convey one at a time, such as the right to sell, lease, or mortgage. What is this collection of ownership rights commonly called?

Question 5: Real estate has several physical characteristics that set it apart from other assets and that help explain why local factors dominate its value. One such characteristic is that a given parcel can never be relocated. Which physical characteristic does this describe?

Question 6: An appraiser notes that two nearly identical homes command very different prices mainly because buyers strongly prefer one neighborhood over the other. This preference for a particular location is one of the economic characteristics of land. Which characteristic is being described here?

Question 7: Study materials distinguish among land, real estate, and real property as widening concepts. A student wants the broadest of the three, the one that adds the legal rights of ownership to the physical land and its permanent improvements. Which term captures that broadest concept?

Question 8: A tenant farmer plants and cultivates a corn crop on leased ground. Before harvest, the lease term ends through no fault of the farmer. Under the doctrine that treats these annual cultivated crops as the farmer's personal property, what may the farmer do?

Question 9: A textbook describes an ownership interest that is the most complete form of ownership the law recognizes, continues for an indefinite time, and passes to the owner's heirs, limited only by public and private restrictions. Which estate does this description identify?

Question 10: A grantor conveys land to a charity so long as the property is used as a public park, intending that ownership end by itself the instant the land is used otherwise. Which estate does this create, and what interest does the grantor keep?

Question 11: A deed conveys land on the condition that no alcohol is ever sold there, and provides that if the condition is broken the grantor may retake the property. The grantor must act to recover title rather than regaining it automatically. Which estate is this?

Question 12: A widow receives, for the remainder of her life, the right to possess and use a home, to collect any rents it produces, and even to mortgage her interest, all ending at her death. What is the name for the holder of this kind of interest?

Question 13: A property owner grants a home to a caregiver, but measures the length of that interest by the lifetime of a disabled relative rather than by the caregiver's own life. When the disabled relative dies, the interest ends. What is this arrangement called?

Question 14: An owner creates a life estate but does not name anyone to receive the property once the life estate ends. Instead, ownership will return to the original grantor at that time. What is the grantor's retained future interest correctly called?

Question 15: Many states protect a portion of the family home from certain creditors during the occupants' lifetime, shielding it from judgments for ordinary debts like charge accounts, though not from a purchase mortgage or property taxes. What is this statutory protection called?

Question 16: Two neighboring lots are owned separately, and the owner of the rear lot holds a permanent right to cross the front lot to reach the road. When the rear lot is sold, this crossing right passes to the new owner. What kind of easement is this?

Question 17: In an easement appurtenant, one parcel enjoys the benefit of the easement while the other must bear the burden of it. A student is learning the labels for these two parcels. Which term names the parcel that benefits from the easement?

Question 18: A power company holds a recorded right to run electric transmission lines across many private parcels, and this right benefits the company itself rather than any neighboring parcel of land. What type of easement does a utility right-of-way like this represent?

Question 19: An owner subdivides land and sells a back parcel that has no way to reach any public road except across the seller's retained land. A court recognizes a right of access so the buyer is not landlocked. What kind of easement is this?

Question 20: A neighbor has openly driven across the same strip of an owner's land several times daily for many years, without permission and without the owner ever excluding him, exceeding the period set by state law. Which type of easement may the neighbor acquire this way?

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