Examples Of Personal Finance Midterm

Real MID TERM EXAM Grading Summary |

These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. | Date and Time Started: | 2/7/2012 8:31:12 PM | Time Spent: | 1 h , 17 min , 17 secs | Points Received: | 130 / 175 (74.3%) | | Question Type: | # Of Questions: | # Correct: | True/False | 9 | 7 | Multiple Choice | 26 | 19 | | |

Grade Details |

1. | Question : | It is mandatory that tenants in common have equal shares in the property. | | | Student Answer: | True | | | False | | | | Comments: | | | | 2. | Question : | A real estate broker owes the following duties: I Confidentiality
| Question : | ________ provide(s) ethical guidelines for paralegals. | | | Student Answer: | The American Bar Association | | | The National Association of Legal Assistants | | | State bar associations | | | all of the above | | | | Comments: | | | | 19. | Question : | A real estate contract can successfully be avoided when: | | | Student Answer: | there is a mutual mistake by seller and buyer | | | the court rules that the seller was insane when he made the sale | | | the buyer bought the property when he was under 18, but now seeks to avoid it two months after turning 18 | | | all of the above | | | | Comments: | | | | 20. | Question : | A liquidated damage provision in a contract is enforceable, provided it does not result in a penalty. | | | Student Answer: | True | | | False | | | | Comments: | | | | 21. | Question : | An attorney may represent two parties to a real estate transaction in which circumstances? | | | Student Answer: | Both parties are made aware of potential conflict | | | Both parties consent to the dual representation after full disclosure
| Question : | An estate for years may be a lease, but not all leases are estates for years. | | | Student Answer: | True | | | False | | | | Comments: | | | | 23. | Question : | Wayne and Mitch own adjoining parcels of land. Wayne allowed Mitch to install pipe across his property for the purpose of pumping spring water onto Mitch's property. Mitch's use of Wayne's property is: | | | Student Answer: | an easement in gross | | | an easement appurtenant | | | a license | | | a profit | | | | Comments: | | | | 24. | Question : | Which of the following examples is not a license? | | | Student Answer: | Grant to a friend to hunt annually on private property | | | Land owner lets political group hold an Election Day celebration | | | Store permits customers to shop on its premises