Real Estate License Exam Questions with Latest Update
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Course
Licensed Realtor
Institution
Licensed Realtor
All of the following are ways by which an offer to purchase real estate would be terminated, except - Answer-Failure to communicate notice of revocation before the other party has communicated his/her acceptance
When a Cal-Vet wishes to purchase a home and use his California veteran's benefits h...
Real Estate License Exam Questions
with Latest Update
All of the following are ways by which an offer to purchase real estate would be
terminated, except - Answer-Failure to communicate notice of revocation before the
other party has communicated his/her acceptance
When a Cal-Vet wishes to purchase a home and use his California veteran's benefits he
would make the application to - Answer-Department of Veterans Affairs(VA)
If a salesperson wishes to advertise his/her services, the advertisement must include -
Answer-The broker's name
Which of the following statements is incorrect with regard to an "in-house" sale -
Answer-The listing broker can be the agent of the buyer only
The document which transfers title but contains no express or implied warranties is a -
Answer-Quitclaim deed
Land, which is subject to an easement is said to be - Answer-Encumbered
After completion of a new building in which the owner did not record a Notice of
Completion, any unpaid claimant must file a Mechanic's Lien within - Answer-90 days
Which of the following has control over the approval of a subdivision under the
Subdivision Map Act - Answer-Planning Commission
Mutual mortgage insurance on an FHA loan - Answer-Protects the lender against any
deficiency in the event of a default
A land developer offers a free prize to anyone who replies to his direct mail
advertisement and visits his subdivision site. Prior to awarding the prize, however, the
developer requires the party to attend a sales presentation at the site. The sales
presentation requirement was not mentioned anywhere in the advertisement. This type
of promotion is - Answer-Illegal because it did not disclose the sale representation
attendance requirement
A real estate broker who desires to operate a real estate office that is both competitive
and profitable, is vitally concerned with "Desk Cost." Desk Cost is calculated by dividing
the - Answer-Total cost of rent, utilities, telephone, advertising and other operating
expenses by the number of salespersons(TOTAL COST/# OF SALESPEOPLE)
Which of the following would be a tenant in an apartment building and an owner in a
condominium project have in common - Answer-Both have an estate in real property
, The principal purpose of the Federal Truth in Lending Act was to - Answer-Require
creditors to disclose complete credit terms to prospective borrowers
A policy of title insurance requires a careful search of the public records. The public
records covered are found at - Answer-County Recorder's Office, Federal Land Office
Records, & County Clerk's Office
A real estate broker advertises that she will give a microwave oven valued at $500 to
anyone who purchases a property listed with her office. This type of advertisement is -
Answer-Legal if proper disclosures are made to all parties of interest
The broker who represented only the seller in a transaction has a fiduciary responsibility
to the seller. When dealing with a third party, the broker - Answer-Must treat the third
party fairly and honestly
Which of the following state agencies is empowered to prevent acts of discrimination in
housing accommodations in California because of race, color, religion, national origin,
or ancestry - Answer-Department of Fair Employment and Housing
Which of the following notices could be important to the filing of a mechanic's lien -
Answer-Notice of Completion, Notice of Non-Responsibility, and Notice of Cessation
The words "time is of the essence" will usually be included in which of the following
contracts - Answer-Real Estate Purchase Contract & Receipt for Deposit
A real estate licensee was actively seeking listings by contacting owners in a non-
integrated neighborhood and telling them that minorities were moving into the area and
as a result, the value of homes in the area would suffer a loss in value and it was a
good time to sell their property. This type of activity by the licensee would be considered
- Answer-Inducement of Panic Selling and Blockbusting
Interest rates on residential trust deeds and notes are set by - Answer-Supply and
Demand for money
A residential land developer and contractor were building a number of new homes in a
housing tract. During the construction phase a number of people observed the new
development and showed a great interest and desire to purchase the new homes at
above market level prices. During the construction period, however, the city notified the
land developer that new city ordinances required that the existing streets be widened 15
feet to handle the anticipated increase in flow of traffic. This increase meant cutting off a
portion of each existing lot and as a result, interest in the homes waned. This restaurant
loss in value would be classified as - Answer-Economic Obsolescence
New air conditioners today are assigned an energy efficiency rating. Based on the rating
system, the higher the EER, the - Answer-Higher the efficiency of the appliance
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