CA Real Estate Exam Practice 100% Correct Answers | Verified Latest 2024 Version
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CA Real Estate Exam Practice | 100% Correct
Answers | Verified | Latest 2024 Version
How many square feet in one acre? - There are 43,560 square feet in an acre
Mr. and Mrs. Conners sold their home and paid an 8% commission to their realtor. Assuming no other
fees, if they walked away from the ...
CA Real Estate Exam Practice | 100% Correct
Answers | Verified | Latest 2024 Version
How many square feet in one acre? - ✔✔There are 43,560 square feet in an acre
Mr. and Mrs. Conners sold their home and paid an 8% commission to their realtor. Assuming no other
fees, if they walked away from the sale with $306,000, about how much did their house sell for? -
✔✔$332,600
To solve this problem, set up an equation using P for the answer you seek: You know that the seller
walked away with $306,000. If the agent was to take 8% of the selling price (P), then the seller received
92% of the selling price. So, the equation would look like this: Amount seller received (306,000) = P
(selling price) x 92% (0.92) 306,000 = P x 0.92 To isolate P (the unknown) on one side, divide both sides
of the equation by 0.92 and you have: 306,0000.92=P Divide and you have the actual answer:
332,608.695 etc. Notice that the question says "about," so round to find the correct answer among the
choices given: $332,600
Which of the following is a violation of the Fair Housing act? - ✔✔not allowing a service dog in an
apartment complex that doesn't allow pets
According to Fair Housing laws, a handicapped individual who needs a service dog is permitted to have
one even if animals are not generally allowed on the property. However, the person is responsible to pay
for any damage the animal causes when their tenancy is up. In new multiple-story housing properties,
accommodations must be made on the first floor only.
According to Fair Housing laws, which of these people is not considered disabled? - ✔✔a former convict
According to Fair Housing laws, people whose mental or physical condition limits their performance of
major life activities is "disabled." So, alcoholics, drug addicts, and HIV-infected people are considered
disabled, but having been a convict does not qualify as a disability.
Sarah owns a warehouse and has decided to sell it as an open listing. She has contacted three brokers to
sell it for her, Brokers A, B, and C. If Broker B makes the sale, who gets the commission? - ✔✔Broker B
,In an open listing, whichever broker sells the property gets the commission.
What information would be unethical for a listing agent to share with a potential buyer? - ✔✔"The seller
is very eager for an offer because he lost his job and found a new one in a different state."
It is inappropriate for a listing agent to tell a prospective buyer personal information about the seller,
even if it may encourage a sale. The only exception would be in the case of a seller instructing the agent
to do so. Doing so would be a confidentiality breach on the part of the listing agent. The broker should
answer all questions related to the property honestly.
A subdivision has a rule that each home in the neighborhood be at least 2,500 square feet. This is an
example of which concept? - ✔✔restrictive covenant
Restrictive covenants are created by neighborhood developers or associations to ensure that the
neighborhood maintains certain standards. Examples include minimum housing size, restrictions on
architectural style, or mandated underground sprinkling.
Which of the following describes a transaction brokerage? - ✔✔The broker does not represent either
party, but provides general information and services to each.
In a transaction brokerage, the broker may help with general information or services, but she is not
looking out for the specific interests of either the buying or selling party.
Who takes the biggest risk in an open listing? - ✔✔the agent
In an open listing, the seller will only pay the agent if the agent finds the buyer. Because the seller can
have many agents in an open listing, only the agent who finds the buyer will be compensated. This
means the agents who do not produce a buyer will receive no compensation.
An agency contract is being terminated. In which scenario might there be damages owed to one of the
parties? - ✔✔The agent resigns from the contract because he is overloaded with homes to sell.
, Agents and owners may resign from a sale, but they may be liable for damages due to breach of
contract. However, if there is a legally sound reason for resignation, such as the owners requesting the
agent do something illegal or the agent not acting in the sellers best interest, there is no penalty for
resignation. "Being overloaded with homes to sell" would not be considered a justifiable reason to end
the contract, so the agent may owe the sellers some type of damages. Bankruptcy, death, legal
incompetence, and multiple claims on the title all automatically terminate the agency relationship by
law.
A reconveyance deed ____. - ✔✔removes a lien and is evidence a trust deed has been paid in full when
it is signed by the trustee
The trustee is a third party who has the power of sale without court approval. When the lien is paid in
full, a title previously in the form of a trust deed becomes reconveyed through new deed.
When dividing a single plot of land into two or three units, the process is called ____, and the units are
called ____. - ✔✔partitioning; parcels
When dividing a land into less than four units, partitioning divides the land into parcels. With four or
more units, the land is subdivided into lots.
A reverse mortgage ____. - ✔✔requires participant to be 62 or older and converts equity into cash
A reverse mortgage is an option for individuals 62 or older who want to transform equity in their
property into cash through a mortgage.
Real property is defined as __________. - ✔✔land and everything permanently attached
As opposed to personal property, real property is land and everything permanently attached to it. (While
there are more details available about "real property," this is a beginner-level question with simple
response options, typical of some of the questions on the real estate test.)
____ are rights and privileges belonging to the land. - ✔✔Appurtenances
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