CALIFORNIA REAL ESTATE EXAM MULTIPLE CHOICE EXAM 200QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALE
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Module
CALIFORNIA REAL ESTATE
Institution
CALIFORNIA REAL ESTATE
In reference to Property Taxes, "basis" or "cost" is Purchase price of
prop plus cost of
improvements.
2. How is a condominium unit owned? Separate interest
3. How are common interests in a condo owned? Equally in undivided interest
4. Subdivided Land Laws refer to Subdivisions of 5+
parc...
CALIFORNIA REAL ESTATE EXAM 2024 -2025 MULTIPLE CHOICE EXA
200QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONAL
Study online at https://quizlet.com/_fzj127
1. In reference to Property Taxes, "basis" or "cost" is Purchase price of
prop plus cost of
improvements.
2. How is a condominium unit owned? Separate interest
3. How are common interests in a condo owned? Equally in undivid-
ed interest
4. Subdivided Land Laws refer to Subdivisions of 5+
parcels on 160
acres, regulated
marketing & fi-
nancing, and re-
quires disclosures
in public report.
5. How long is a disclosure in public report for Subdi- 5 Years
vided Land Laws good for?
6. When does a tax year run? July 1-June 30
7. Legally combining smaller, adjacent parcels of land Plottage or as-
to form a larger parcel. semblage
8. Separating large parcels into smaller lots Subdividing or
separating
9. Amount or size of land being increased by natural Accretion
forces such as deposits by wind or water.
10. Gradual uncovering of land previously covered by Reliction
water such as when a stream changes course.
11. The Statute of Limitations in the state of California 4 years
allows how long to take action?
12. Attachment
, CALIFORNIA REAL ESTATE EXAM 2024 -2025 MULTIPLE CHOICE EXA
200QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONAL
Study online at https://quizlet.com/_fzj127
The process by which the court may seize real or
personal property as security for a satisfaction of
monetary judgement.
13. When is a 20-day preliminary notice of a mechanics 20-days after the
lien need to be issued? claimant (contrac-
tor) has first fur-
nished labor, ser-
vices, equipment,
or materials.
14. What is the purpose of issuing a preliminary notice of To inform con-
a mechanics lien to a claimant? cerned parties
that the property
may be subject to
liens arising out of
contract.
15. What is the brokers relationship to the customer? The broker is the
agent to the cus-
tomer (customer
employs the bro-
ker).
16. What is the agents (salesperson) relationship to the The salesperson
broker? is the agent to the
broker (the broker
gives the sales-
person authority
to act on his/her
behalf).
17. A Home Equity Line of Credit is An Open Ended
Mortgage
18. An Open Ended Mortgage is A type of note
that permits the
borrower to obtain
more money at a
, CALIFORNIA REAL ESTATE EXAM 2024 -2025 MULTIPLE CHOICE EXA
200QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONAL
Study online at https://quizlet.com/_fzj127
future date under
the same deed of
trust.
19. Zoning is an example of Police power
20. Local jurisdictions have the authority to divide land Zoning
into districts and impose land use regulations to pro-
mote health, safety, and welfare of the public--this is
known as
21. When can restrictions placed on a deed be removed? Never
22. What is the only restriction placed on a deed that is Race restrictions
considered illegal?
23. Is an option contract bilateral or unilateral? Unilateral
24. What does an option contract NOT do? Create a legal in-
terest in a property
25. If a buyer has defaulted on on an original land con- a Quiet Title Ac-
tract which had been recorded, this would result in a tion.
defective title, requiring legal action to clear the title.
This is called
26. A promise is also known as a Covenant
27. A court action is mandatory to evict a delinquent Unlawful Detainer
tenant. This process is called
28. A verbal contract is considered Valid
29. California Statute of Frauds require a real estate In writing
agreement to be
30. What kind of listing agreement offers a listing broker Exclusive right to
to receive a commission regardless of who is the sell
"procuring" cause? Is also considered the greatest
protection for the agent.
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