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PPP: CA Real Estate Broker Exam Prep Questions And Answers 100% Correct!!!
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PPP: CA Real Estate Broker Exam Prep Questions And Answers 100% Correct!!!
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PPP: CA Real Estate Broker Exam PrepQuestions And Answers 100% Correct!!!
Submit a statement of accounts to the Commissioner quarterly - ANSWER✔✔The
prepaid rental listing agent is required to do all of the following except:
A new loan can be made on the property at a higher rate - ANSWER✔✔A
mortgage that was executed two years ago provided for a prepayment penalty. The
mortgagee is most likely to waive this penalty when:
FHA, VA and conventional fixed and adjustable rate loans - ANSWER✔✔The
Federal National Mortgage Association limits its purchases to which of the
following types of loans?
Disclosure settlement statements - ANSWER✔✔Certain charges are prohibited by
the Real Estate Settlement Procedures Act in selling a house. Buyer or seller may
legally be charged for all of the following except:
Lender shows the loan balance - ANSWER✔✔In a beneficiary statement the:
The joint tenancy is terminated - ANSWER✔✔A brother and sister purchased
property as joint tenants. Later, the sister married and deeded her interest to herself
and her husband:
Department of Real Estate - ANSWER✔✔Under the Subdivided Lands Act, the
questionnaire required for subdividers is provided by:
,Buyer insists on securing a loan from a certain financing institution -
ANSWER✔✔According to RESPA, the following acts are in violation of the law,
except:
If a lease contains an option to purchase, the right ordinarily will pass with an
assignment of the lease - ANSWER✔✔Concerning options, which of the
following is the most correct statement?
It insures the lender against loss - ANSWER✔✔Which of the following is a unique
characteristic of an FHA mortgage?
Is valid now buy can be voided by an interested party for due cause -
ANSWER✔✔A voidable contract is one which:
540 - ANSWER✔✔A resident of California files a state tax return on Form:
3 Years - ANSWER✔✔How many years is an attachment lien valid for?
Collect a commission directly from the client - ANSWER✔✔By law a real estate
salesperson may not:
Trade Fixtures - ANSWER✔✔An individual who has rented real property may
remove which of the following upon termination of the lease:
The agent should inform the seller that the deposit is in the form of a note before
the seller accepts the offer - ANSWER✔✔Using a note as a deposit from a buyer
in making an offer:
,Prepaid rent, received by the seller. - ANSWER✔✔Which of the following would
appear as a debit on the sellers closing statement?
None of the answers are true:
A licensed real estate broker and a licensed insurance broker.
A licensed real estate broker and another licenced real estate broker.
A licensed real estate broker and a licensed real estate salesperson. -
ANSWER✔✔The Real Estate Law does not permit a partnership of which of the
following to operate a Real Estate Office?
Wear and tear from use - ANSWER✔✔Of the following factors, which is the one
that would not contribute to obsolescence?
Grantor - ANSWER✔✔A quitclaim deed is executed by the:
Loan Brokerage - ANSWER✔✔A licensed real estate broker is permitted to
enforce payment of a commission for services rendered as well as for expenses
incurred, even if the transaction is not consummated under which of the following
activities?
Seasonal Crops - ANSWER✔✔Which of the following is not always classified as
real property?
, Improvements - ANSWER✔✔A new well and pump were installed on a parcel of
land. For property tax assessment purposes, the county assessor would consider
these as:
Fully Amortized Loan - ANSWER✔✔A loan to be completely repaid, principle
and interest, by a series of regular equal installment payments is a:
Reserves
(The impounds are also referred to as reserves. They are reserved by the
beneficiary to pay for the borrowers property taxes and often times their insurance
premiums as well) - ANSWER✔✔The lender agrees to make the loan to the buyer.
However, the lender also requires as a condition of the loan that the borrower pay
additional sums each month over and above the amount of interest and principle
payment amounts so that the lender can pay the borrowers insurance and taxes
when due. These additional funds are often referred to as impounds. Another term
for impounds is:
Policy of Title Insurance - ANSWER✔✔In California the use of an abstract of title
has been superseded almost entirely by the:
Not permissible - ANSWER✔✔A broker has two offers on the same property. The
two offers are from salespeople within his office and both have given deposits. The
broker decides not to present the second offer until the first offer has been accepted
or rejected by the seller. The seller is not made aware of the second offer. The
brokers action is:
When real estate in an area is appreciating quickly. - ANSWER✔✔The gross rent
multiplier analysis may be less useful
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