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Final Exam A California real estate Practice Questions and Answers (100% Pass)
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Final Exam A California real estate Practice Questions and Answers (100% Pass)
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©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AMFinal Exam A California real estate Practice
Questions and Answers (100% Pass)
All of the following are ways by which an offer to purchase real estate would be
terminate, except - ✔️✔️Failure to communicate notice of revocation before the other
party has communicated his or her acceptance
When using their closing statement, escrow would debit the seller of income property for
which of the following items - ✔️✔️Prepaid rent
When a Cal-Vet wishes to purchase a home and use his California veteran's benefit he
would make the application to - ✔️✔️Department of Veterans Affairs
Which of the following loans would most likely be made without requiring down payment
from the borrower - ✔️✔️VA Loan
Recorded title to a parcel of property was vested in Mary Wilson a single woman. After
her marriage to John Roberts she executed a deed to the property only in the name of
Mary Roberts, a married woman. The discrepancy in the grantor's name is - ✔️✔️A
defect, which may cause a cloud on the title
If a salesperson wishes to advertise his or her services, the advertisement must include
- ✔️✔️The brokers name
Which of the following statements is incorrect with regard to an "in-house" sale - ✔️✔️The
listing broker can be the agent of the buyer only
For income tax purposes, capital expenditures for improvements & alterations are -
✔️✔️Added to the "cost basis" of the property
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, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
The document which transfers title but contains no express or implied warranties is a -
✔️✔️Quitclaim deed
Land, which is subject to an easement is said to be - ✔️✔️Encumbered
After completion of a new building in which the owner did not record a Notice of
Completion, any unpaid claimant must file a Mechanics's Lien within - ✔️✔️90 days
Mr. Smith employed the XYZ Pool Construction Company to install a swimming pool at
his home. After completion, the contractor filed a lien to obtain payment of the contract
price. The encumbrance created was - ✔️✔️A specific lien
Which of the following has control over the approval of a subdivision under the
Subdivision Map Act? - ✔️✔️Planning Commission
Mutual mortgage insurance on a FHA loan - ✔️✔️Protects the lender against ant
deficiency in the event of default
A Land developer offers a free prize to anyone who replies to his direct mail
advertisement & visits his subdivision site. Prior to awarding the prize, however, the
developer requires the party to attend a sales presentation at the site. Then sales
presentation requirement was not mentioned anywhere in the advertisement. This type
of promotion is - ✔️✔️Illegal because it did not disclose the sales representation
attendance requirement
Which of the following statements most accurately describes mortgage companies who
act as mortgage loan correspondents. Such companies - ✔️✔️Prefer negotiating loans
,which are sold on the secondary market
A real estate broker who desires to operate a real estate office that is both competitive &
profitable, is vitally concerned with "Desk Cost'. "Desk Cost" is calculated by dividing the
- ✔️✔️Total cost of rent, utilities, telephone advertising & other operating expense by the
number of salespersons
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