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California Real Estate Exam Practice Questions and Answers (100% Pass)
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California Real Estate Exam Practice Questions and Answers (100% Pass)
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©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AMCalifornia Real Estate Exam Practice
Questions and Answers (100% Pass)
In reference to Property Taxes, "basis" or "cost" is - ✔️✔️Purchase price of prop plus cost
of improvements.
How is a condominium unit owned? - ✔️✔️Separate interest
How are common interests in a condo owned? - ✔️✔️Equally in undivided interest
Subdivided Land Laws refer to - ✔️✔️Subdivisions of 5+ parcels on 160 acres, regulated
marketing & financing, and requires disclosures in public report.
How long is a disclosure in public report for Subdivided Land Laws good for? - ✔️✔️5
Years
When does a tax year run? - ✔️✔️July 1-June 30
Legally combining smaller, adjacent parcels of land to form a larger parcel. -
✔️✔️Plottage or assemblage
Separating large parcels into smaller lots - ✔️✔️Subdividing or separating
Amount or size of land being increased by natural forces such as deposits by wind or
water. - ✔️✔️Accretion
Gradual uncovering of land previously covered by water such as when a stream
changes course. - ✔️✔️Reliction
The Statute of Limitations in the state of California allows how long to take action? -
✔️✔️4 years
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,©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
The process by which the court may seize real or personal property as security for a
satisfaction of monetary judgement. - ✔️✔️Attachment
When is a 20-day preliminary notice of a mechanics lien need to be issued? - ✔️✔️20-
days after the claimant (contractor) has first furnished labor, services, equipment, or
materials.
What is the purpose of issuing a preliminary notice of a mechanics lien to a claimant? -
✔️✔️To inform concerned parties that the property may be subject to liens arising out of
contract.
What is the brokers relationship to the customer? - ✔️✔️The broker is the agent to the
customer (customer employs the broker).
What is the agents (salesperson) relationship to the broker? - ✔️✔️The salesperson is
the agent to the broker (the broker gives the salesperson authority to act on his/her
behalf).
A Home Equity Line of Credit is - ✔️✔️An Open Ended Mortgage
An Open Ended Mortgage is - ✔️✔️A type of note that permits the borrower to obtain
more money at a future date under the same deed of trust.
Zoning is an example of - ✔️✔️Police power
Local jurisdictions have the authority to divide land into districts and impose land use
regulations to promote health, safety, and welfare of the public--this is known as -
✔️✔️Zoning
When can restrictions placed on a deed be removed? - ✔️✔️Never
What is the only restriction placed on a deed that is considered illegal? - ✔️✔️Race
restrictions
Is an option contract bilateral or unilateral? - ✔️✔️Unilateral
What does an option contract NOT do? - ✔️✔️Create a legal interest in a property
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, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
If a buyer has defaulted on on an original land contract which had been recorded, this
would result in a defective title, requiring legal action to clear the title. This is called -
✔️✔️a Quiet Title Action.
A promise is also known as a - ✔️✔️Covenant
A court action is mandatory to evict a delinquent tenant. This process is called -
✔️✔️Unlawful Detainer
A verbal contract is considered - ✔️✔️Valid
California Statute of Frauds require a real estate agreement to be - ✔️✔️In writing
What kind of listing agreement offers a listing broker to receive a commission regardless
of who is the "procuring" cause? Is also considered the greatest protection for the
agent. - ✔️✔️Exclusive right to sell
What does a deed NOT need to be considered valid? - ✔️✔️A date
A valid deed must have 3 components - ✔️✔️Be in writing, be signed by the grantor, and
delivered to the grantee
For a deed to be recorded, it must - ✔️✔️Be acknowledged (notarized)
A chattel - ✔️✔️Is most accurately described as personal property
Which is NOT corporeal property? A fee simple estate, a leasehold, an easement, or a
fixture? - ✔️✔️An easement
What is a visible or tangible right in real estate such as the right of occupancy under a
lease? - ✔️✔️Corporeal
What time of estate does one hold when it along exists with you for the duration of your
life or someone else's life? - ✔️✔️Life Estate
When the recipient of a life estate dies, who is the person that it is willed to after their
death? - ✔️✔️A remainderman
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