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Ca Realty State Exam Test Questions And Answers With Verified Solutions Already Passed Latest Updated 2024
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Ca Realty State Exam Test Questions And Answers With Verified Solutions Already Passed Latest Updated 2024

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  • October 8, 2024
  • 26
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ca realty state exam test questions and answers wi
  • what would be used to transfer the title of person
  • what is the key advantage of an installment sale f
  • when parties of two or more own property as ten

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  • CaLIFORNIA REAL ESTATE
  • CaLIFORNIA REAL ESTATE

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Ca Realty State Exam Test Questions
And Answers With Verified Solutions
Already Passed Latest Updated 2024
What would be used to transfer the title of personal property? - ANSWER✔✔Bill
of sale


What is the key advantage of an installment sale for federal income tax reasons? -
ANSWER✔✔The gain realized will be taxed in the year was received.


When parties of two or more own property as tenants in common each one -
ANSWER✔✔Has the right to Possession of the entire property


Why can a corporation not qualify as a "joint tenant" for ownership interest of real
property? - ANSWER✔✔It has perpetual existence, death is a requirement


How are ownership rights and interest in real property established by way of court
proceeding? - ANSWER✔✔Quiet title action


Dairy owned a duplex worth 210,000 with an adjusted basis of 165,000. Samantha
owned a triplex valued at 260,000. Both parties are owned out right free and clear.
Samantha and Larry agreed to an exchange with Larry giving Samantha 50,000 in
cash. How would the federal income tax be handled for this situation -
ANSWER✔✔Samantha will recognize a gain


Of the following which is an actual type of deed and would most likely not have
implied covenant's by the grantor - ANSWER✔✔A quick claim deed

,A dam broke and the flow of water cut away a large section of the river -
ANSWER✔✔Avulsion


What occurs when deprecation is taking on real property - ANSWER✔✔The cost
basis is lowered


How is title held on city owned parks playgrounds and public buildings -
ANSWER✔✔Severalty


Accretion result in the acquisition of title, how? - ANSWER✔✔The owner of fires
land by natural causes


What is the main purpose of a deed - ANSWER✔✔It shows evidence of the
change in title or transfer of the interest in real property


The value of the multiunit apartment building is being determined by an appraiser
using the income approach under which of the following circumstances would be
appraiser did that the cost of management from the effective gross income? -
ANSWER✔✔The owner of the building manages it, one of the tenants is the on-
site manager and history do used rate of rent, one of the tenants who lives in the
adjoining building manages both buildings for the owner and receives free rent for
providing that service


A piece of real property sold for 750,000 which is 7% more than the original cost.
How much was the original cost? - ANSWER✔✔107% percent of cost equals
750,000(2) 750,000÷1.07 equals 700,934.75


In appraiser defines the word deprecation as - ANSWER✔✔The lost in value
resulting from any Cause

, In appraisal report has three major subheadings; introduction, description of the
area, neighborhood and the property, and analysis, conclusions and opinions of
value. What type of appraisal is this? - ANSWER✔✔Narrative report


1/2 of a township would have how many square miles - ANSWER✔✔The
township contains 36 mi.², therefore half would be 18 mi.²


The maximum income (potentially) that an income property can generate is known
as - ANSWER✔✔Gross schedule income


What is the major cause of loss of value when we are referring to real property -
ANSWER✔✔Obsolescence


Real property that experiences economic changes which reduces the desirability
and usefulness of the property - ANSWER✔✔Economic obsolescence


Of all the following approaches to assess value that are available Two appraisers,
which method is most commonly used by real estate licensees and brokers? -
ANSWER✔✔Market approach


What is the best method to change the gross income into value? -
ANSWER✔✔Rent multiplier


What does on a given date referred to on an appraisal or an income producing
property - ANSWER✔✔Market conditions affecting the value of that property at
that single point in time

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