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Real Estate License Exam | Verified Q&A’s| Latest Update
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Real Estate License Exam | Verified Q&A’s| Latest Update
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Real Estate License Exam | Verified Q&A’s|Latest Update
A real estate licensee was actively seeking listings by contacting owners in a non-
integrated neighborhood and telling them that minorities were moving into the area
and as a result, the value of homes in the area would suffer a loss in value and it was a
good time to sell their property. This type of activity by the licensee would be
considered - ✔✔Inducement of Panic Selling and Blockbusting
Interest rates on residential trust deeds and notes are set by - ✔✔Supply and
Demand for money
A residential land developer and contractor were building a number of new homes in a
housing tract. During the construction phase a number of people observed the new
development and showed a great interest and desire to purchase the new homes at
above market level prices. During the construction period, however, the city notified the
land developer that new city ordinances required that the existing streets be widened
15 feet to handle the anticipated increase in flow of traffic. This increase meant cutting
off a portion of each existing lot and as a result, interest in the homes waned. This
restaurant loss in value would be classified as - ✔✔Economic Obsolescence
New air conditioners today are assigned an energy efficiency rating. Based on the rating
system, the higher the EER, the - ✔✔Higher the efficiency of the appliance
Broker Matthews received an offer to purchase property from a prospective buyer who
states that he does not currently have cash available for a deposit, and in lieu thereof he
will give his personal note for $2,000 to the seller payable in 60 days plus 10% interest.
Which of the following is correct? - ✔✔Broker Matthews may take the note but must
notify the seller that the deposit was in the form of a personal note before the seller
accepts the offer
,The broker who most likely has earned a commission is the one who has -
✔✔Communicated acceptance to the offeror.
A buyer entered into a purchase contract on a false material fact received through the
broker. Upon discovering that the material fact was untrue, the buyer cancelled the
contract. If it could be shown that the broker has relied on the seller's information
regarding the material fact as being true and had no reason to believe otherwise, the
broker would be entitled to - ✔✔A full commission
Title to real property may be insured for the grantee by securing a - ✔✔Policy of title
insurance
A real estate broker advertises that he will give a seller a $50 credit in escrow from his
commission to any seller who lists with him. He will also pay $50 to any buyer who
purchases a property through him. This type of advertising is - ✔✔Legal if disclosure
is made to all parties to the transaction.
Under which of the following listings must an owner pay a commission even though he
sells the property entirely through his own efforts? - ✔✔Exclusive Authorization to
Sell Listing
A real estate salesperson was successful in obtaining listings of residential properties by
making representations that because of the entry into the neighborhood of minority
groups, property values would be diminished by a decline in the quality of schools and
an increase in the crime rate. Such practices by this salesperson are - ✔✔Grounds for
disciplinary action by the Commissioner
A licensed real estate broker was successful in selling home for a party with whom the
broker had entered into an oral listing agreement. If there is no subsequent written
, verification of the oral agreement, the payment of a commission to the broker is -
✔✔Permissible if the seller elects to do so
A clause in a recorded trust deed that allows a subsequently recorded loan or lien to
have priority over it, is known as - ✔✔A subordination clause
A lease for the term of July 1 to August 15 is known as - ✔✔An estate for years
The quickest appraisal method that can be used to convert income into value is the -
✔✔Gross Rent Multiplier Approach
A sublease is - ✔✔A transfer of less than the entire leasehold
A broker who is operating in a single agent capacity represents - ✔✔The buyer or
seller only
Which of the following statements regarding deed restrictions is true? - ✔✔A
violation of a condition might result in loss of title
In order to operate as a mortgage loan correspondent in California, the party must be
licensed by - ✔✔The Department of Real Estate or the Department of Corporations
In a deed of trust, the party that loans the money is called the - ✔✔Beneficiary
An attorney-in-fact with general powers can do all of the following except - ✔✔Deal
in real estate without recording his or her power of attorney
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