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California Real Estate Exam Latest Update Actual Exam with 200 Questions and 100% Verified Correct Answers Guaranteed A+ Approved by the Professor$20.49
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California Real Estate Exam Latest Update 2024-
2025 Actual Exam with 200 Questions and 100%
Verified Correct Answers Guaranteed A+
Approved by the Professor
_____means something is left to be done to a contract. - CORRECT ANSWER:
Executory
"Hand money" paid upon the signing of a purchase contract is called - CORRECT
ANSWER: A deposit
A agrees to sell his brand new limousine to B in return for one dollar. Later A wishes to
back out of the deal. - CORRECT ANSWER: He may not do so.
A agrees to trade her car to B in exchange for a vacant lot that B owns. - CORRECT
ANSWER: This is a valid contractual arrangement.
A Bill of Sale is used to transfer - CORRECT ANSWER: Personal property
A broker must keep records for ___ years. - CORRECT ANSWER: 3 years
A broker must place funds belonging to others in - CORRECT ANSWER: A trust, or
escrow, account, or with an escrow agent.
A broker's unlicensed secretary may - CORRECT ANSWER: Refer interested clients to
the broker or her employed licensees.
A California Real Estate license is good for negotiating - CORRECT ANSWER:
Anywhere in the state of California, the sale of any kind of real property, and the sale of
property outside of California, if negotiation occurs inside California.
,A California real estate license is good only in - CORRECT ANSWER: The state of
California
A chattel - CORRECT ANSWER: Is most accurately described as personal property
A contact in which an owner of real estate employs a broker for the purpose of finding a
buyer for the real estate is a - CORRECT ANSWER: Listing
A contract based on an illegal consideration is - CORRECT ANSWER: Void
A contract in which A agrees to allow B to use A's real estate in return for periodic
payments of money by B is a - CORRECT ANSWER: Lease
A contract in which A agrees to purchase B's real estate at a later date is - CORRECT
ANSWER: A contract of sale
A contract in which property is transferred from one person to another is a - CORRECT
ANSWER: Deed
A contract that has no force or effect is said to be - CORRECT ANSWER: Void
A contract whereby a group of neighboring landowners agree to do or not to do a certain
thing as to mutually benefit all, is - CORRECT ANSWER: Restrictive covenant
A court action is mandatory to evict a delinquent tenant. This process is called -
CORRECT ANSWER: Unlawful Detainer
A fee simple estate is - CORRECT ANSWER: A freehold estate
A Home Equity Line of Credit is - CORRECT ANSWER: An Open Ended Mortgage
, A joint ownership of real property by two or more persons, each of whom has an
undivided interest (not necessarily equal( without right of survivorship, is - CORRECT
ANSWER: A tenancy in common
A legal process whereby a person holding a legal claim against a property may have the
court order the property to be sold so as to provide funds to pay the claim - CORRECT
ANSWER: Foreclosure
A legal process whereby the owner is dispossessed of the property and must leave -
CORRECT ANSWER: Condemnation
A licensed salesperson may act independently (that is, not in the employ of a broker) -
CORRECT ANSWER: To sell her own house, provided all parties know she hols a
license.
A licensee's license must be - CORRECT ANSWER: Available for examination in the
broker's office.
A life estate pur autre vie is one in which - CORRECT ANSWER: The duration of the life
estate is based on the duration of the life of someone other than the life tenant.
A listing contract that says the broker will receive a commission no matter who sells the
property is called - CORRECT ANSWER: An exclusive-right-to-sell listing
A listing in which the broker's commission is the amount by which the sale price
exceeds the agreed-upon net price the seller desires - CORRECT ANSWER: Net listing
A notary public - CORRECT ANSWER: Provides acknowledgment
A person holding title to real property in severalty would most likely have - CORRECT
ANSWER: A sole ownership
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