REAL ESTATE FINAL EXAM - 100
QUESTIONS
Zoningxisxunderxthexcontrolxof:x-xgovernmentxagencies.
Axcontractxthatxisxbindingxandxenforceablexinxaxcourtxofxlawxisxsaidxtoxbe:x-xvalid.
Escrowsxbasexmonthlyxprorationsxonxhowxmanyxdays?x-x30
Thexareaxofxaxrectangularxlotxthatxisx50xfeetxwidexbyx100xfeetxdeepxis:x-x5,000xsq.xft.
ForxaboutxhowxmuchxassessedxvaluexisxthexHomeowner'sxPropertyxTaxxExemption?x-
x$7,000
Misusexofxthexrealxestatexappraisalxreportxorxcoercionxofxthexappraiserxarexnow:x-
xfederalxfelonies.
AxpersonxwhoxisxauthorizedxbyxthexSecretaryxofxStatextoxwitnessxthexacknowledgementxofxd
ocumentsxisxknownxasxa(n):x-xnotaryxpublic.
Axbrokerxwhoxmixesxpersonalxfundsxwithxhisxorxherxprincipal'sxfundsxisxguiltyxof:x-
xcommingling.
Realxpropertyxconsistsxof:x-xlandxandxstructuresxonxthexland
anythingxincidentalxtoxthexland
anythingxappurtenantxtoxthexland
WhichxofxthexfollowingxisxNOTxonexofxthexforcesxthatxaffectxthexvaluexofxaxneighborhood?x-
xPastxsalesxconsiderations
Thexfederalxcivilxrightsxlawxthatxappliesxtoxpeoplexwithxdisabilitiesxandxprotectsxthemxfromxdi
scriminationxisxthe:x-xAmericansxwithxDisabilitiesxAct
Whenxpricesxrisexduextoxshortagesxofxavailablexproperties,xitxisxknownxasxa:x-
xseller'sxmarket.
Otherxthanxthexinitialxsmallxdepositxtoxopenxthexaccount,xwhenxarexmoneyxdepositsxthexpers
onalxpropertyxofxthexbroker?x-xNever
Whichx"American"xtitlexinsurancexisxusuallyxrequestedxbyxlenders?x-xALTAxpolicy
, Whichxofxthexfollowingxisxaxrequirementxofxaxlease?x-xlengthxofxlease
amountxofxrent
namesxofxparties
WhichxofxthexfollowingxisxNOTxanxessentialxelementxofxaxrealxestatexcontract?x-xCash
ThexCaliforniaxDepartmentxofxVeteran'sxAffairsxloanxprogramxisxcommonlyxknownxasxthe:x-
xCalVetxProgram.
Thexmarketxdataxmethodx(comparisonxapproach)xisxthexmostxcommonxapproachxfor:x-
xhouses
condos
vacantxland
WhatxisxthexsectionxinxthexResidentialxListingxAgreementx(ExclusivexAuthorizationxandxRig
htxtoxSell)xthatxcanxentitlexaxbrokerxtoxaxcommissionxevenxafterxthexterminationxofxthexlisting
?x-xSafetyxClause
Howxmanyxsquarexfeetxarexinx1xacre?x-x43.560
Axmonth-to-monthxrentalxagreementxisxusuallyxa:x-xperiodicxtenancy.
Youxarexaxlandlordxwhoxdiscoversxthatxonexofxyourxtenantsxisxhavingxnewxcarpetxinstalledxin
xhisxapartmentxwithoutxyourxconsent.xToxprotectxyourself,xyouxshouldxfilexa(n):x-
xnoticexofxnon-responsibility.
WhichxofxthexfollowingxisxFALSExconcerningxaxgrantxdeed?x-
xItxisxsignedxonlyxbyxthexgrantee.
WhichxofxthexfollowingxisxNOTxaxtypexofxpropertyxlot?x-xCurbxlot.
Thexratexthexborrowerxisxactuallyxpayingx(includingxinterest,xpoints,xandxloanxfees)xisxcalled:
x-xthexeffectivexinterestxrate.
Forxallxpracticalxpurposes,xdiscriminationxlawsxevolvedxfromxTitlexVIIIxofxthexCivilxRightsxAct
xofx1968,x13thxAmendmentxtoxthexU.S.xConstitution,xandxthexU.S.xSupremexCourtxCase?x-
xJonesxv.xMayer
Thexclosingxdatexis:x-xthexdatexthexdocumentsxarexrecorded.
ThexRealxEstatexCommissioner:x-xenforcesxthexRealxEstatexLaw.
Whenxanximprovementxisxpermanentlyxattachedxtoxrealxpropertyxitxbecomes:x-
xrealxproperty.
QUESTIONS
Zoningxisxunderxthexcontrolxof:x-xgovernmentxagencies.
Axcontractxthatxisxbindingxandxenforceablexinxaxcourtxofxlawxisxsaidxtoxbe:x-xvalid.
Escrowsxbasexmonthlyxprorationsxonxhowxmanyxdays?x-x30
Thexareaxofxaxrectangularxlotxthatxisx50xfeetxwidexbyx100xfeetxdeepxis:x-x5,000xsq.xft.
ForxaboutxhowxmuchxassessedxvaluexisxthexHomeowner'sxPropertyxTaxxExemption?x-
x$7,000
Misusexofxthexrealxestatexappraisalxreportxorxcoercionxofxthexappraiserxarexnow:x-
xfederalxfelonies.
AxpersonxwhoxisxauthorizedxbyxthexSecretaryxofxStatextoxwitnessxthexacknowledgementxofxd
ocumentsxisxknownxasxa(n):x-xnotaryxpublic.
Axbrokerxwhoxmixesxpersonalxfundsxwithxhisxorxherxprincipal'sxfundsxisxguiltyxof:x-
xcommingling.
Realxpropertyxconsistsxof:x-xlandxandxstructuresxonxthexland
anythingxincidentalxtoxthexland
anythingxappurtenantxtoxthexland
WhichxofxthexfollowingxisxNOTxonexofxthexforcesxthatxaffectxthexvaluexofxaxneighborhood?x-
xPastxsalesxconsiderations
Thexfederalxcivilxrightsxlawxthatxappliesxtoxpeoplexwithxdisabilitiesxandxprotectsxthemxfromxdi
scriminationxisxthe:x-xAmericansxwithxDisabilitiesxAct
Whenxpricesxrisexduextoxshortagesxofxavailablexproperties,xitxisxknownxasxa:x-
xseller'sxmarket.
Otherxthanxthexinitialxsmallxdepositxtoxopenxthexaccount,xwhenxarexmoneyxdepositsxthexpers
onalxpropertyxofxthexbroker?x-xNever
Whichx"American"xtitlexinsurancexisxusuallyxrequestedxbyxlenders?x-xALTAxpolicy
, Whichxofxthexfollowingxisxaxrequirementxofxaxlease?x-xlengthxofxlease
amountxofxrent
namesxofxparties
WhichxofxthexfollowingxisxNOTxanxessentialxelementxofxaxrealxestatexcontract?x-xCash
ThexCaliforniaxDepartmentxofxVeteran'sxAffairsxloanxprogramxisxcommonlyxknownxasxthe:x-
xCalVetxProgram.
Thexmarketxdataxmethodx(comparisonxapproach)xisxthexmostxcommonxapproachxfor:x-
xhouses
condos
vacantxland
WhatxisxthexsectionxinxthexResidentialxListingxAgreementx(ExclusivexAuthorizationxandxRig
htxtoxSell)xthatxcanxentitlexaxbrokerxtoxaxcommissionxevenxafterxthexterminationxofxthexlisting
?x-xSafetyxClause
Howxmanyxsquarexfeetxarexinx1xacre?x-x43.560
Axmonth-to-monthxrentalxagreementxisxusuallyxa:x-xperiodicxtenancy.
Youxarexaxlandlordxwhoxdiscoversxthatxonexofxyourxtenantsxisxhavingxnewxcarpetxinstalledxin
xhisxapartmentxwithoutxyourxconsent.xToxprotectxyourself,xyouxshouldxfilexa(n):x-
xnoticexofxnon-responsibility.
WhichxofxthexfollowingxisxFALSExconcerningxaxgrantxdeed?x-
xItxisxsignedxonlyxbyxthexgrantee.
WhichxofxthexfollowingxisxNOTxaxtypexofxpropertyxlot?x-xCurbxlot.
Thexratexthexborrowerxisxactuallyxpayingx(includingxinterest,xpoints,xandxloanxfees)xisxcalled:
x-xthexeffectivexinterestxrate.
Forxallxpracticalxpurposes,xdiscriminationxlawsxevolvedxfromxTitlexVIIIxofxthexCivilxRightsxAct
xofx1968,x13thxAmendmentxtoxthexU.S.xConstitution,xandxthexU.S.xSupremexCourtxCase?x-
xJonesxv.xMayer
Thexclosingxdatexis:x-xthexdatexthexdocumentsxarexrecorded.
ThexRealxEstatexCommissioner:x-xenforcesxthexRealxEstatexLaw.
Whenxanximprovementxisxpermanentlyxattachedxtoxrealxpropertyxitxbecomes:x-
xrealxproperty.
