Arizona Real Estate Salesperson Exam — All Questions
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Which of the following is a physical characteristic of land rather than an economic characteristic?
- a.Scarcity
- b.Immobility✓
- c.Situs (area preference)
- d.Permanence of investment
Immobility is a physical characteristic: land cannot be moved from one location to another. Scarcity, situs, and permanence of investment are economic characteristics that affect value and demand rather than the physical nature of the land itself.
A tenant installs custom shelving bolted to the wall to display merchandise in a leased retail space. At lease end, this item is most likely classified as a:
- a.Fixture that must remain with the real property
- b.Emblement belonging to the landlord
- c.Trade fixture the tenant may remove✓
- d.Appurtenance that transfers with title
Items a commercial tenant attaches to conduct business are trade fixtures and remain the tenant's personal property, removable before the lease ends (tenant must repair damage). An ordinary fixture becomes part of the real estate, but the business-use exception controls here. Emblements refer to annual crops, not shelving.