Courts frequently have to make a decision as to whether some item does or does not go with the real property when it is sold. In making their decision they use the "Five tests of a fixture." These include all of the following except:
a. method by which property is attached
b. whether the property is considered adaptable
c. whether the property is being taxed
d. relationship of parties involved
Answer: c. whether the property is being taxed
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Like the ________ regulations, the UCCC gives the consumer ________ day(s) to cancel a sale when it is made as a result of home solicitations
A) CPSA; 30 B) CFPB; 5 C) FTC; 3 D) FRB; 1
Penny just won the state lottery that offers a choice of payments. She may opt for either receiving $1,000,000 today or $2,000,000 at the end of ten years. If she can invest her funds at 5% annually, which is the better choice?
A) The later payment since $1,000,000 invested at 5% for ten years will be worth $1,500,000. B) The immediate payment since the present value of the $2,000,000 payment is $1,200,000. C) The earlier payment since the future value of $1,000,000 in ten years is $1,628,894. D) The earlier payment since the present value of the $2,000,000 payment is $876,000. E) The later payment since the present value of the $2,000,000 payment is $1,227,827.