Real Estate Principles Final Exam Questions with Verified Solutions

Real Estate Principles Final Exam Questions with Verified Solutions Anything that is fastened or attached to real property permanently is considered to be: Real Property A quitclaim deed releases all present claims, rights and title of the: Grantor When a creditor wants to satisfy a judgement which was levied against another person, the creditor would: Obtain a writ of execution Before a mechanics lien is effective it must be: Verified and recorded Discrimination by a real estate licensee based on race is: A violation of the regulations of the Real Estate Commissioner, against public policy, and unethical Upon the signing of a real property sales contract: An equitable title passes to purchaser All California Real Estate Laws are created by: Acts of the legislature The 36 sections in a township are numbered from 1 through 36. Section 1 is located in the: Northeast corner Which of the following would be a discriminatory act under the Commissioner's Regulations? Posting a sign on the property indicating a preference for female renters, designing an ad for general circulation appealing to persons of a specific religion to purchase within a given area, and refusing to list a property in an area occupied by persons of a race other than the licensee. The type of interest usually charged on home loans is: Simple A landowner is notified by a railroad company that it plans to cross his property with a railroad line. If the landowner refuses, the railroad company can proceed by the use of: Eminent domain Title to real property that is transferred by a will is considered: A devise A real estate broker received 40 acres of land valued at $300 per acre as a commission from the seller. Two weeks after escrow closed, the broker was offered $400 per acre for the land. If the broker accepts the offer he: Will be acting in an acceptable manner The words "procuring cause" would have an important meaning to which of the following? A disputed over commission on an open listing Which of the following is not an essential element of a contract? Performance Under the Street Improvement Act of 1911, the city is authorized to assess each owner for the work completed. These improvements are assessed on the basis of: Front footage The real estate tax fiscal year is for the period: July 1 to July 1 The landmark case of the United States Supreme Court which prohibited discrimination in housing was: Jones vs. Mayer Most real estate syndicates that have been created in California have taken the form of a: Limited partnership Under the California Veterans Home and Farm Purchase Act of 1974, the purchaser acquired possession through a: Land Contract