Superior School Of Real Estate Final | 110 Questions With 100% Correct Answers.

What are the physical characteristics of land? {Ans: Immobility Indestructibility Uniqueness (nonhomogeneity)}What are the two classes of property? {Ans: Real property and personal property}Is real property movable? {Ans: No,Immovable and Transfers by deed}What type of property is referred to as everything else? {Ans: Personal property}The most profitable single use to which a property is adapted for that will produce the greatest ROI is referred to as what? {Ans: Highest and best use}Is personal property movable? {Ans: Yes, movable Transfers by Bill of sale}Can their be more than one highest and best use? {Ans: No, only one but can change}Is the earths surface down to the center of the earth and to the heavens, along with surface, subsurface and air rights part of or the definition of real estate? {Ans: YES}Is a real estate broker also always a realtor? {Ans: No, must join the association to be called a realtor.}What is the land and everything permanently attached to it called? {Ans: Real property}Is personal property also called chattel or personality? {Ans: YES}What are the economic characteristics of land? {Ans: Scarcity Permanence of investment Area preference or SITUS (LOCATION)}