Exam (elaborations)
2024 REAL ESTATE PRINCIPLES FINAL EXAM WITH CORRECT ANSWERS
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2024 REAL ESTATE PRINCIPLES FINAL EXAM WITH CORRECT ANSWERS
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2024 REAL ESTATE PRINCIPLESFINAL EXAM WITH CORRECT
ANSWERS
Land which is subject to an easement is said to be: - CORRECT ANSWERS-
Encumbered
Private restrictions on use can include: - CORRECT ANSWERS-Deed
restrictions, easement and rights of way, leases and mortgage notes
Under the law of Agency, a fiduciary relationship is created between the
broker and the seller upon execution of the listing agreement. As far as the
broker's responsibility to third parties, the broker: - CORRECT ANSWERS-Must
be fair and honest
A lease of real property for a fixed period of time at a set rate of rent
creates: - CORRECT ANSWERS-An estate for years
All of the following are personal property except: - CORRECT ANSWERS-
Easements
A valid deed vests title in the grantee when the deed is: - CORRECT
ANSWERS-Delivered
A valid recorded homestead will not protect the homeowner against the
foreclosure of: - CORRECT ANSWERS-A mortgage, a trust deed, or a
mechanic's lien
Anything that is fastened or attached to real property permanently is
considered to be: - CORRECT ANSWERS-Real Property
A quitclaim deed releases all present claims, rights and title of the: -
CORRECT ANSWERS-Grantor
When a creditor wants to satisfy a judgement which was levied against
another person, the creditor would: - CORRECT ANSWERS-Obtain a writ of
execution
, Before a mechanics lien is effective it must be: - CORRECT ANSWERS-Verified
and recorded
Discrimination by a real estate licensee based on race is: - CORRECT
ANSWERS-A violation of the regulations of the Real Estate Commissioner,
against public policy, and unethical
Upon the signing of a real property sales contract: - CORRECT ANSWERS-An
equitable title passes to purchaser
All California Real Estate Laws are created by: - CORRECT ANSWERS-Acts of
the legislature
The 36 sections in a township are numbered from 1 through 36. Section 1 is
located in the: - CORRECT ANSWERS-Northeast corner
Which of the following would be a discriminatory act under the
Commissioner's Regulations? - CORRECT ANSWERS-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: - CORRECT ANSWERS-
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: - CORRECT ANSWERS-Eminent domain
Title to real property that is transferred by a will is considered: - CORRECT
ANSWERS-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: -
CORRECT ANSWERS-Will be acting in an acceptable manner
The words "procuring cause" would have an important meaning to which of
the following? - CORRECT ANSWERS-A disputed over commission on an open
listing
Which of the following is not an essential element of a contract? - CORRECT
ANSWERS-Performance
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