Real Estate Principles Final Exam/ 100
Questions with Correct Answers.
Most real estate syndicates that have been created in California have taken the
form of a: - Answer: Limited partnership
Under the California Veterans Home and Farm Purchase Act of 1974, the
purchaser acquired possession through a: - Answer: Land Contract
Which of the following has the control over the approval of a subdivision under
the Subdivision Map Act? - Answer: Planning Commission
A grant deed: - Answer: Warrants that the property has not been previously
conveyed by the grantor
Page 1 of 15
, When an appraiser analyzes the rent while using the income approach, he should
base his appraisal on which of the following characteristics of the income? -
Answer: Durability, quality, and quantity
An income property was appraised for the $100,000 based on a 6% capitalization
rate. If an investor used an 8% capitalization rate, the property would be: -
Answer: $75,000
Which of the following appraisal reports would be the most comprehensive and
complete? - Answer: Narrative
Once an abstract of judgment is recorded it remains a lien on all real property for:
- Answer: Ten years
If a note in the amount of $22,250 specifies monthly payments over a period of 30
years at 6.6% interest per annum, what is the first month's interest payment? -
Answer: $122.38
"Duress" is a term which is most closely associated to matters concerning: -
Answer: Contracts
Which of the following statements is true with respect to an option? An option is:
- Answer: Valid if consideration is delivered even if it is less than $10
Page 2 of 15
Questions with Correct Answers.
Most real estate syndicates that have been created in California have taken the
form of a: - Answer: Limited partnership
Under the California Veterans Home and Farm Purchase Act of 1974, the
purchaser acquired possession through a: - Answer: Land Contract
Which of the following has the control over the approval of a subdivision under
the Subdivision Map Act? - Answer: Planning Commission
A grant deed: - Answer: Warrants that the property has not been previously
conveyed by the grantor
Page 1 of 15
, When an appraiser analyzes the rent while using the income approach, he should
base his appraisal on which of the following characteristics of the income? -
Answer: Durability, quality, and quantity
An income property was appraised for the $100,000 based on a 6% capitalization
rate. If an investor used an 8% capitalization rate, the property would be: -
Answer: $75,000
Which of the following appraisal reports would be the most comprehensive and
complete? - Answer: Narrative
Once an abstract of judgment is recorded it remains a lien on all real property for:
- Answer: Ten years
If a note in the amount of $22,250 specifies monthly payments over a period of 30
years at 6.6% interest per annum, what is the first month's interest payment? -
Answer: $122.38
"Duress" is a term which is most closely associated to matters concerning: -
Answer: Contracts
Which of the following statements is true with respect to an option? An option is:
- Answer: Valid if consideration is delivered even if it is less than $10
Page 2 of 15
