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California Broker Real Estate Exam Questions
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California Broker Real Estate Exam Questions
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California Broker Real Estate Exam QuestionsBroker A receives two offers on Seller B's house, which is listed for sale at $250,000. The first offer is for all cash at
$200,000. The second offer is for 20% down with 80% financing for the full price. What should the broker do with
respect to both offers? - correct answers Present both offers to the seller as soon as possible.
The two primary documents dealing with payment of a loan are the mortgage or deed of trust and a - correct answers
promissory note.
The term that best describes a continuous urban corridor joining at least two cities is - correct answers megalopolis.
The term real property can also be described as - correct answers the bundle of rights.
The rights of a landowner to a river bordering her property are known as - correct answers riparian rights.
In the case of a transfer of ownership of a piece of real estate, a fixture is normally - correct answers assumed to be
included in the transfer.
A tenant who operates a jewelry store wants to take his jewelry cases with him at the expiration of the lease. What is
the best solution? - correct answers He may take the cases if removal will not cause substantial damage.
A legal description of property is not adequate unless - correct answers land boundaries are defined.
The lot and block system of property description is not also known as the - correct answers rectangular survey system.
What best describes the interests of the holder of a life estate? - correct answers possession, use, and ownership
How many acres does a section of land contain? - correct answers 640 acres
,The requirement that multiple owners take title to property at the same time is a characteristic of - correct answers joint
tenancy.
The type of ownership that provides the most complete bundle of rights is - correct answers fee simple absolute.
Which are most similar to each other with respect to inheriting property? - correct answers joint tenancy and
community property with right of survivorship (both allow for reversion to remaining owners)
A statement of the goals and policies regarding growth of a community is a good definition of the - correct answers
general plan.
The primary difference between a common interest subdivision and a standard subdivision is - correct answers
ownership of common areas.
Which of the following is a generic term for a group of people joining together to invest in real estate? - correct answers
syndicate
The proper way for a landowner who has physical difficulty in developing his property to get relief is to obtain a - correct
answers variance.
When is a landowner entitled to compensation for a change in zoning? - correct answers when the landowner is denied
all practical economic use of the property
At which lot does the Subdivided Lands Law take effect? - correct answers the fifth lot
The state has enacted legislation providing special consideration or control for development of - correct answers
rangeland, earthquake areas & coastal areas
The land that benefits from an easement is referred to as the - correct answers dominant tenement.
All liens are encumbrances. All encumbrances are - correct answers limitations.
,A deed restriction prohibiting the sale of property to certain ethnic groups - correct answers is illegal and unenforceable.
A mechanic's lien creates - correct answers a cloud on title.
A private deed restriction that places a restraint on alienation - correct answers is void, restricts the sale of property and
is unenforceable.
An easement is an encumbrance - correct answers always.
The seller of a one-family house is required to disclose to buyers - correct answers the structural and mechanical
condition of the property.
The process by which eminent domain occurs is called - correct answers police power.
An agent represents a - correct answers principal.
Which of the following types of easement does not run with the land? - correct answers the electric company's
easement to cross over your land with their power lines
What is another term for an agent entrusted to act on someone's behalf? - correct answers fiduciary
The agent who brings a ready, willing, and able buyer to a seller is commonly called the - correct answers procuring
cause.
Broker A agrees to represent Seller B in the sale of her house. Seller B agrees to pay Broker A a commission if he
successfully sells the house. What do we know for certain based on these facts? - correct answers A bilateral express
contract exists between Broker A and Seller B
, Broker A has a listing agreement to sell Seller B's house. Broker A brings an offer to Seller B on behalf of Buyer C. Seller B
rejects the offer and a week later attempts to negotiate directly with Buyer C. Seller B has violated - correct answers the
duty of care.
Seller A wants to walk away with $200,000 after the sale of her house and all expenses are paid. She agrees that Broker
B can keep, as his fee, anything he gets above that. What type of agreement have they made? - correct answers a net
listing
Seller A has signed a listing agreement with Broker B. Without the assistance of Broker B, Seller A sells her property and
under the terms of the listing agreement owes no commission to Broker B. What type of listing agreement did Seller A
sign? - correct answers an exclusive agency listing
A cooperating broker may represent - correct answers the buyer or the seller or the listing broker
This is not a type of listing agreement? - correct answers multiple listing
Broker A has a listing to market Seller B's house. He also has a buyer's agency agreement to find a house for Buyer C. If
Buyer C becomes interested in Seller B's house what might the danger be, if any, to Broker A? - correct answers the
creation of a dual agency (this can be taken care of by disclosing to both parties)
Who of the following owes fiduciary responsibility to the buyer? - correct answers the buyer's agent
A broker hired to sell a house is considered a - correct answers special agent.
A real estate salesperson is always considered an - correct answers employee.
Seller A wants to get the broadest exposure for the sale of her house but does not want to pay a commission if she sells
the house herself. What type of listing will she try to establish? - correct answers open listing
All agency agreements for the sale of property must be in writing except creation of an agency by - correct answers
there are no exceptions.
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