Colibri Real Estate - CA Salesperson - Readiness Assessment Guide with Q & S 2024.
1 view 0 purchase
Course
Colibri Real Estate
Institution
Colibri Real Estate
Colibri Real Estate - CA Salesperson - Readiness Assessment Guide with Q & S 2024.Colibri Real Estate - CA Salesperson - Readiness Assessment Guide with Q & S 2024.Colibri Real Estate - CA Salesperson - Readiness Assessment Guide with Q & S 2024.
,1. When considering land use controls, which entity is typically
responsible for zoning ordinances?
a) State government
b) Local municipalities
c) Federal government
d) Homeowners associations
Correct Answer: b) Local municipalities
2. In California, a real estate agent's fiduciary duty to their client
includes all of the following EXCEPT:
a) Confidentiality
b) Disclosure
c) Accounting
d) Providing legal advice
Correct Answer: d) Providing legal advice
3. Which appraisal method estimates the value of a property by
comparing it to similar properties with known sale prices?
a) Income approach
, b) Cost approach
c) Sales comparison approach
d) Investment method
Correct Answer: c) Sales comparison approach
4. What type of financing might a buyer use to purchase a property
with a very low initial interest rate that can fluctuate over time?
a) Fixed-rate mortgage
b) Adjustable-rate mortgage
c) Interest-only mortgage
d) Balloon mortgage
Correct Answer: b) Adjustable-rate mortgage
5. The transfer of property through a will is known as:
a) Inheritance
b) Devise
c) Bequest
d) Intestate succession
Correct Answer: b) Devise
, 6. Which of the following is NOT a required disclosure in
California real estate transactions?
a) Natural Hazard Disclosure
b) Lead-Based Paint Disclosure
c) Previous death in the property within the last 3 years
d) Energy efficiency rating
Correct Answer: d) Energy efficiency rating
7. In a real estate contract, the term "contingency" refers to:
a) A clause that allows for the renegotiation of terms
b) A condition that must be met for the contract to be binding
c) A breach of contract
d) A fixed deadline for contract fulfillment
Correct Answer: b) A condition that must be met for the
contract to be binding
8. A real estate professional who represents both the buyer and the
seller in the same transaction is known as a:
a) Dual agent
b) Transaction broker
c) Single agent
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ClementeO. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.