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California Real Estate Exam Questions and Answers 100% Solved(GRADED A) CA$15.22   Add to cart
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California Real Estate Exam Questions and Answers 100% Solved(GRADED A)
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California Real Estate Exam Questions and Answers 100% Solved(GRADED A)California Real Estate Exam Questions and Answers 100% Solved(GRADED A)California Real Estate Exam Questions and Answers 100% Solved(GRADED A)California Real Estate Exam Questions and Answers 100% Solved(GRADED A)In referenc...

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Document information

  • July 29, 2023
  • 13
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • california real estate
  • california
  • california stuvia
  • california real estate exam 2023 2024 questions an
  • california real estate exam 2023 2024
  • california real estate exam
  • in reference to property taxes

Written for

  • California
  • California

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California Real Estate Exam 2023-2024
Questions and Answers 100%
Solved(GRADED A)
In reference to Property Taxes, "basis" or "cost" is - ANSWER-Purchase price of prop
plus cost of improvements.

How is a condominium unit owned? - ANSWER-Separate interest

How are common interests in a condo owned? - ANSWER-Equally in undivided interest

Subdivided Land Laws refer to - ANSWER-Subdivisions of 5+ parcels on 160 acres,
regulated marketing & financing, and requires disclosures in public report.

How long is a disclosure in public report for Subdivided Land Laws good for? -
ANSWER-5 Years

When does a tax year run? - ANSWER-July 1-June 30

Legally combining smaller, adjacent parcels of land to form a larger parcel. - ANSWER-
Plottage or assemblage

Separating large parcels into smaller lots - ANSWER-Subdividing or separating

Amount or size of land being increased by natural forces such as deposits by wind or
water. - ANSWER-Accretion

Gradual uncovering of land previously covered by water such as when a stream
changes course. - ANSWER-Reliction

The Statute of Limitations in the state of California allows how long to take action? -
ANSWER-4 years

The process by which the court may seize real or personal property as security for a
satisfaction of monetary judgement. - ANSWER-Attachment

When is a 20-day preliminary notice of a mechanics lien need to be issued? -
ANSWER-20-days after the claimant (contractor) has first furnished labor, services,
equipment, or materials.

What is the purpose of issuing a preliminary notice of a mechanics lien to a claimant? -
ANSWER-To inform concerned parties that the property may be subject to liens arising
out of contract.

, What is the brokers relationship to the customer? - ANSWER-The broker is the agent to
the customer (customer employs the broker).

What is the agents (salesperson) relationship to the broker? - ANSWER-The
salesperson is the agent to the broker (the broker gives the salesperson authority to act
on his/her behalf).

A Home Equity Line of Credit is - ANSWER-An Open Ended Mortgage

An Open Ended Mortgage is - ANSWER-A type of note that permits the borrower to
obtain more money at a future date under the same deed of trust.

Zoning is an example of - ANSWER-Police power

Local jurisdictions have the authority to divide land into districts and impose land use
regulations to promote health, safety, and welfare of the public--this is known as -
ANSWER-Zoning

When can restrictions placed on a deed be removed? - ANSWER-Never

What is the only restriction placed on a deed that is considered illegal? - ANSWER-
Race restrictions

Is an option contract bilateral or unilateral? - ANSWER-Unilateral

What does an option contract NOT do? - ANSWER-Create a legal interest in a property

If a buyer has defaulted on on an original land contract which had been recorded, this
would result in a defective title, requiring legal action to clear the title. This is called -
ANSWER-a Quiet Title Action.

A promise is also known as a - ANSWER-Covenant

A court action is mandatory to evict a delinquent tenant. This process is called -
ANSWER-Unlawful Detainer

A verbal contract is considered - ANSWER-Valid

California Statute of Frauds require a real estate agreement to be - ANSWER-In writing

What kind of listing agreement offers a listing broker to receive a commission regardless
of who is the "procuring" cause? Is also considered the greatest protection for the
agent. - ANSWER-Exclusive right to sell

What does a deed NOT need to be considered valid? - ANSWER-A date

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