Legal Aspects of Real Estate (Final Exam) Latest 2023
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Legal Aspects of Real Estate
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Legal Aspects Of Real Estate
Legal Aspects of Real Estate (Final Exam) Latest 2023Legal Aspects of Real Estate (Final Exam) Latest 2023Legal Aspects of Real Estate (Final Exam) Latest 2023Legal Aspects of Real Estate (Final Exam) Latest 2023
Legal Aspects of Real Estate (Final Exam)
Latest 2023
1. When do growing crops become personal property?
A. Upon constructive severance
B. When the landowner sells the entire property to another C. When they are planted
D. At the end of the tenancy - Correct answer A
2. A case involving questions of both federal and state law may be brought in: A. state court only B. federal court only C. state or federal court D. a special court that is reserved for cases with mixed federal and state issues -
Correct answer C
3. Which type of easement burdens the servient tenement, but no dominant tenement is
involved? A. Appurtenant easement B. Easement in gross C. Express easement D. Dominant easement - Correct answer B
4. Amy owns shares of stock in the corporation that holds title to the building she lives
in, and she has a long-term lease on her unit. Amy lives in a/an: A. community apartment complex (CAC) B. condominium C. cooperative D. planned development - Correct answer C
Page 1 of 21 5. Suppose an agent has no express authority when she commits an act that benefits
the principal, but the principal approves the act after the fact. This creates an agency
by: A. estoppel B. express agreement C. implication D. ratification - Correct answer D
6. A government takes title to a portion of a private citizen's property, in order to widen a
road. In return, the government pays the owner the fair market value of the land that
was taken. This occurs through what type of legal action? A. Condemnation B. Dedication C. Eminent domain D. Escheat - Correct answer A
7. A tenant who transfers an entire leasehold estate to another party is a/an: A. sublessee B. sublessor C. assignee D. assignor - Correct answer D
8. Most California lenders prefer a deed of trust to a mortgage because: A. a deed of trust offers more protection to borrowers in case of default B. a deed of trust requires a larger downpayment C. a deed of trust allows nonjudicial foreclosure D. a deed of trust allows judicial foreclosure - Correct answer C
9. A real estate agent's duty to inspect the listed property does not apply to: A. a lease with an option to purchase B. a manufactured home Page 2 of 21 C. a new home in a subdivision offered for sale for the first time D. a residential four-plex - Correct answer C
10. Which of the following parties can be named grantee of a deed? A. A mentally incompetent senior citizen B. A minor child
C. A valid corporation D. All of the above - Correct answer D
11. Which of the following is true? A. All leases must be in writing and signed by both parties B. Leases for over a year must be in writing and signed by the lessor C. Residential leases need not be in writing, unless the security deposit is greater than
the equivalent of six months' rent D. Residential leases don't have to be in writing, but commercial leases do - Correct
answer B
12. Broker Jones operates her brokerage business under the name Glorious Realty.
She registered a fictitious business name statement for the name Glorious Realty; her
real estate license is issued in her name, Tabitha Jones. A. This is legal, because she took the necessary step of registering her fictitious
business name B. Broker Jones has violated the license law; her real estate license must be issued
under the fictitious name C. Broker Jones has done nothing wrong, because all she needs is a valid real estate
license D. This is legal, as long as Broker Jones uses the name Glorious Realty in all her
advertising and business dealings - Correct answer B
13. A mechanic's lien is: A. also called a construction lien Page 3 of 21
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