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California Real Estate (Principles) Questions And Answers With Verified Solutions Already Passed!!!
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  • California Real Estate

California Real Estate (Principles) Questions And Answers With Verified Solutions Already Passed!!!

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Document information

  • October 9, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • broker santos is
  • california real estate principles questions and
  • a loss in value from any cause is a definition
  • a valid deed passes title when it is
  • the main purpose of the truth in lending act is to

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  • California Real Estate
  • California Real Estate

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California Real Estate (Principles)
Questions And Answers With Verified
Solutions Already Passed!!!
A ''loss in value from any cause'' is a definition of - ANSWER✔✔Depreciation


A couple recently married and each person had children from
a previous marriage. They wish to take title to property so
they can pass their share to their own children by will. The

best form of title would be - ANSWER✔✔Community Property


A valid deed passes title when it is - ANSWER✔✔delivered and accepted.


In July, Easton bought Rothchild's home through the listing
broker, McGrew. After a hard rain in November, the roof
developed a severe leak. Easton sued Rothchild and McGrew
for the cost of a new roof. Testimony in court revealed that
Rothchild mentioned the need for a new roof to Broker
McGrew. McGrew did not tell Easton about the need for a
new roof. What would most likely occur? - ANSWER✔✔Easton would collect
from Rothchild; Rothchild would
then seek recourse from McGrew.


The main purpose of the Truth-in-Lending Act is to - ANSWER✔✔require
disclosure of credit terms.

,The difference between judgment liens and mechanics' liens
is that - ANSWER✔✔mechanics' liens can take priority before they are
recorded.


Broker Santos is in the process of listing a home. The agency
disclosure must be given - ANSWER✔✔prior to the seller signing the listing
agreement


On October 1, 2008, Garcia agreed to purchase Chan's
home. Both parties agreed that escrow would close on
December 1, 2008, and that property taxes would be
prorated as of date of possession. On November 1, 2008,
Chan paid the property taxes for the year 2008-2009.
According to the escrow closing statement, which of the
following is true? - ANSWER✔✔Garcia paid Chan for 8 months' taxes.


taxes begin on fiscal year of July 1-June 30


November 1
December 10
February 1
April 10


A quitclaim deed conveys only the present rights of the: - ANSWER✔✔grantor

, To have a valid recorded homestead, certain elements are
essential. Which of the following is not essential? - ANSWER✔✔to be a married
person


A licensed loan broker arranged for a loan and has the
borrower sign the required statement. The broker then
discovers a lien that the borrower did not disclose. If the
loan cannot be arranged due to the lien, the borrower is
liable for - ANSWER✔✔all cost and expenses and half the commission


A person purchased a property for $200,000, which was
equal to $4.75 per square foot. The rectangular lot was
300 feet deep. The cost per front foot was - ANSWER✔✔1,425


$200,000/$4.75 = 42,105.26 sq. ft./300ft. = 140.35
front ft., then $200,000/140.35


Which of the following is not essential to form an agency? - ANSWER✔✔a
fiduciary relationship(fiduciary is a result of agency, but not
needed to form an agency)


An owner sells a lot for cash and receives $67,100 from
escrow. The only expenses were a 6 percent commission
and $517 in other expenses. The property sold for - ANSWER✔✔$71,933

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