Pennsylvania Auctioneer Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Pennsylvania Auctioneer Exam with our comprehensive quiz. Utilize flashcards and multiple-choice questions with hints and explanations to enhance your understanding. Get ready to ace your licensing exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is a fee simple estate?

Highest form of ownership
Property ownership shared with the government
Temporary property lease
Shared ownership with relatives

The correct answer is: Highest form of ownership

A fee simple estate is the highest form of ownership one can have in real property. It provides the owner with the most rights and control over the property, including the right to sell, lease, gift, or pass the property to heirs. This type of ownership is not shared with anyone else, including the government or relatives. Therefore, option A is the correct choice as it accurately describes a fee simple estate.