California Real Estate FINAL Exam LATEST SOLUTION WITH 50 QUESTIONS AND VERIFIED ANSWERS
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Course
California Real Estate
Institution
California Real Estate
California Real Estate FINAL Exam
LATEST SOLUTION WITH 50
QUESTIONS AND VERIFIED ANSWERS
California Real Estate FINAL Exam
LATEST SOLUTION WITH 50
QUESTIONS AND VERIFIED ANSWERS
California Real Estate FINAL Exam
LATEST SOLUTION WITH 50
QUESTIONS AND VERIFIED ANSWERS
2024-2025
1. You are preparing a competitive market analysis on a vacant lot that you
hope to list for sale. Which of the following approaches to value will be
used in the development of the estimated value?
A. Cost approach B. Gross rent multiplier C. Income approach D. Sales
comparison approach - CORRECT ANSWER>>D. Sales comparison
approach
2. Which of the following comparables would be the most helpful in
appraising a home?
A. A similar home sold for nonpayment of taxes.
B. A similar property sold under duress.
C. A similar home sold by a motivated seller to a motivated buyer.
D. A similar home sold by an unwilling seller to an unsure buyer. -
CORRECT ANSWER>>C. A similar home sold by a motivated seller to a
motivated buyer.
,3. The period over which a property may be profitably utilized is called its:
A. economic life
B. amortized life
C. income life
D. net life - CORRECT ANSWER>>A. economic life
4. Wear and tear to the load bearing members of a building would be
classified as:
A. functional obsolescence-curable
B. physical deterioration-curable
C. functional obsolescence-incurable
D. physical deterioration-incurable - CORRECT ANSWER>>D. physical
deterioration-incurable
5. While the economy is experiencing inflation, interest rates:
A. drop and housing prices rise
B. rise and housing prices drop
C. rise and housing prices rise
D. None of the above - CORRECT ANSWER>>C. rise and housing prices
rise
6. When using the market-data approach to appraise a single-family home,
recent sales are compared to the subject property as to:
A. capitalization rates
B. exterior features only
C. the entire property
, D. rental income - CORRECT ANSWER>>the entire property
7. A real estate commission is usually based on the:
A. listing price
B. selling price
C. down payment
D. loan amount - CORRECT ANSWER>>selling price
8. The increase of value with the passage of time describes: A.
appreciation B. "return on" investment C. "return of" investment D.
depreciation - CORRECT ANSWER>>appreciation
9. Which of the following statements does NOT correctly describe a
fiduciary?
A. A fiduciary owes loyalty to the principal
B. A fiduciary must conform to the principal's legal instructions
C. A fiduciary is an agent
D. A fiduciary is a neutral third party - CORRECT ANSWER>>fiduciary is a
neutral third party
10. A broker secured a buyer for his client and the seller accepted. Under
which type
of listing could a broker not receive a commission?
A. net listing
B. open listing
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