Test Drive Quiz

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1.  Property is anything that can be controlled and owned. Which of the following is NOT considered property?

 a) - land
 b) - buildings
 c) - air space
 d) - clothing


2.  Personal property ownership is transferred by a:

 a) - listing agreement.
 b) - bill of sale.
 c) - chattel deed.
 d) - security agreement.


3.  In its simplest form, real estate finance involves pledging real property as:

 a) - leverage.
 b) - consideration.
 c) - collateral.
 d) - compensation.


4.  The use of a proportionately small amount of money to secure a large loan for the purchase of a property is called:

 a) - hypothication.
 b) - collateralization.
 c) - discounting.
 d) - leverage.