CA DRE SALESPERSON EXAM LATEST VERSION ACTUAL EXAM 150 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|ALREADY GRADED A
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CA DRE SALESPERSON
Institution
CA DRE SALESPERSON
CA DRE SALESPERSON EXAM LATEST VERSION
ACTUAL EXAM 150 QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES|ALREADY GRADED A
CA DRE SALESPERSON EXAM LATEST VERSION
ACTUAL EXAM 150 QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES|ALREADY GRADED A
CA DRE SALESPERSON EXAM LATEST VERSION
2023-2024 ACTUAL EXAM 150 QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES|ALREADY GRADED A
The effective date of a real estate purchase contract is the date that
A) the seller accepts the offer
B) the security deposit was made
C) the acceptance is communicated to the buyer
D) the offer is made - ANSWER-C) the acceptance is communicated to the buyer
(3 step process: Mutual Agreement, or Offer and Acceptance: offer, acceptance, communication of
acceptance)
What are the 4 essentials of a contract? - ANSWER-1) Mutual Consent
2) Capable Parties
3) Lawful Object
4) Consideration
Ownership of an undivided interest in land with no right of survivorship is found in:
A) tenants in common
B) joint tenancy
C) fee simple defeasible estates
D) severalty - ANSWER-A) tenants in common
On a settlement statement, the cost of the lender's title insurance policy required for a new loan is
usually shown:
A) credit to the seller
B) debit to the seller
C) credit to the buyer
D) debit to the buyer - ANSWER-D) debit to the buyer
,(Buyer pays for the insurance policy)
In Financing. the secondary market refers to the place where:
A) Conventional loans are originated
B) secondary financing may be obtained
C) FHA loans are originated
D) existing loans are bought and sold - ANSWER-D) existing loans are bought and sold
(Resale Marketplace)
Real property taxes become a lien on:
A) Feb 1st
B) Jul 1st
C) Jan 1st
D) Nov 1st - ANSWER-C) Jan 1st
When selling a business, real estate brokers need to know that the term successor's liability involves
certain obligations to the:
A) Department of Corporations
B) Internal Revenue Service
C) State Board of Equalization
D) Bureau of Real Estate - ANSWER-C) State Board of Equalization
David wants to use the GRM to find the value of the property. What data does David need to obtain
from comparable properties to accurately calculate a GRM?
A) Annual rent and the selling price
B) Net income and selling price
C) Net income and the capitalization rate
D) Original cost and the annual income - ANSWER-A) Annual rent and the selling price
Four months ago, a seller entered a legally binding written contract to sell his property. Later, the seller
refused to complete the transaction, since he felt the value of the property would increase in the near
future. Under these circumstances, the Statute of Limitations could affect the rights of the buyer to
prevail in a civil action, due to a breach of a written contract, within:
A) one year
B) 90 days
C) two years
D) four years - ANSWER-D) four years
Personal income taxes are structured using rates that are:
A) regressive
B) progressive
C) equal
D) level - ANSWER-B) progressive
(more you make more they take)
On an escrow closing statement, an existing mortgage that is to be assumed by the buyer is treated as:
A) a credit to the seller
B) all above
C) a credit to the buyer
D) a debit to the buyer - ANSWER-C) a credit to the buyer
A personal revocable, non-assigned right to use the property of another is called
A) a license
B) an option
C) an easement
D) the lease - ANSWER-A) a license
, Pledging property as security for a loan without losing possession of it is called what?
A) Purchase Money Mortgage
B) Hypothecation
C) An impound account
D) A subordination agreement - ANSWER-B) Hypothecation
(Collateral to secure a debt)
Procuring cause would not be required for a broker to receive a commission in an:
A) open listing
B) net listing
C) exclusive right to sell listing
D) exclusive agency listing - ANSWER-C) exclusive right to sell listing
Usury MOST nearly means:
A) illegal interest
B) making loans without the benefit of co-signors
C) lending money at fluctuating interest rates
D) being capable of multiple usage - ANSWER-A) illegal interest
(loan sharks)
An unlicensed personal assistant working for a licensed broker may do which of the following activities?
A) Write ads and submit them to the newspaper and online approved by the broker
B) Write up an offer for a buyer and then have the broker sign the contract later
C) Host open housesD) Email brokers weekly updates to the broker's clients - ANSWER-A) Write ads and
submit them to the newspaper and online approved by the broker
An exclusive agency listing guarantees the broker his commission:
A) if a broker finds a buyer for the property
B) only if the sales prices exceeds the listed price
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