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California Real Estate Exam Multiple Choice Questions Latest Update Actual Exam with 500+ Questions and 100% Verified Correct Answers Guaranteed A+ Approved by the Professor
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Course
California Real Estate
Institution
California Real Estate
California Real Estate Exam Multiple Choice Questions Latest Update Actual Exam with 500+ Questions and 100% Verified Correct Answers Guaranteed A+ Approved by the Professor
California Real Estate Exam Multiple Choice
Questions Latest Update 2024-2025 Actual Exam
with 500+ Questions and 100% Verified Correct
Answers Guaranteed A+ Approved by the
Professor
"A" has been given power of attorney for the purpose of selling "B's" house. Which of
the following is NOT true?
a. "A" cannot sell the property if "B" has recorded a homestead on it.
b. Power of attorney must be recorded for "A" to sell the property.
c. Power of attorney is terminated in the event "B" is declared incompetent and unable
to enter into a legal contract.
d. "A" may purchase the property, providing he/she pays a fair market value for the
home. - CORRECT ANSWER: d. "A" may purchase the property, providing he/she pays
a fair market value for the home.
An attorney-in-fact cannot deed or convey the property to self. If he desires to purchase
it, he/she must "give up" the power of attorney.
"Domicile" most frequently means:
a. semi-circled ceiling.
b. relationship of parties.
c. home or residence.
d. none of above. - CORRECT ANSWER: c. home or residence.
"Gross multiplier" is used to determine value of certain types of income properties. It is
determined by:
,a. dividing the gross rental income by the appraised value. b. multiplying the market
price by the capitalization rate.
c. dividing the sales price by the gross monthly rental.
d. multiplying the gross monthly rental by a reasonable cap rate. - CORRECT
ANSWER: c. dividing the sales price by the gross monthly rental.
Gross Rent Multiplier is a rough, quick way of converting gross rent into market value.
"Moral philosophy" best matches:
a. ethnics.
b. ethics.
c. dedication.
d. subordination. - CORRECT ANSWER: b. ethics.
"Placement of a home on a lot" best matches:
a. option.
b. avulsion.
c. dedication.
d. plot plan. - CORRECT ANSWER: d. plot plan.
Plot plan is planning the most advantageous place on a parcel of land for an
improvement to be located.
"The right of one or more persons to possess and use something to the exclusion of
others" describes:
a. discrimination.
b. novation.
,c. ownership.
d. equity. - CORRECT ANSWER: c. ownership.
*A broker obtained an exclusive listing to sell a piece of property. He spent much time,
money, and energy. The seller refused to allow the broker to proceed under the
agreement. The broker should:
a. consider the seller's refusal a breach and sue for damages.
b. consider the seller's refusal a breach and claim the amount of commission as
liquidated damages.
c. ignore the seller and proceed.
d. relieve seller of liability, and work on improving relationship so as to enable retaining
future business. - CORRECT ANSWER: a. consider the seller's refusal a breach and
sue for damages.
When seen from a technical point of view. In reality, sometimes "d" would result in more
favorable and profitable end results.
*For federal income tax purposes, a taxpayer could increase the basis of his/her
residence with which of the following?
a. Property taxes
b. Accrued depreciation
c. Addition of a patio
d. None of the above, for a personal residence basis cannot be adjusted for any reason
- CORRECT ANSWER: c. Addition of a patio
Capital improvements are acceptable adjustments to basis.
*Which of the following phrases would best bind all parties to pay their debts?
, a. Jointly
b. Individually
c. Individually and severally
d. Jointly and severally - CORRECT ANSWER: d. Jointly and severally
All parties are held responsible collectively or individually for the entire obligation.
1. A real property security endorsement is valid for:
a. as long as the broker's license is valid, and it needs no further endorsement.
b. multiples of 4 years.
c. one year.
d. the term of the broker's license to which the endorsement is affixed. - CORRECT
ANSWER: d. the term of the broker's license to which the endorsement is affixed.
10. Considering the "Interstate Land Sales Full Disclosure Act," which of the following is
NOT true?
a. Controls subdivisions of 25 (or more) lots, unimproved at the time of sale.
b. Developer must register subdivision with Office of Inter-Land Sales Registration
(OILSR), and provide copy of
"property report" to purchaser or lessee.
c. Any contract to purchase or lease may be revoked by purchaser or lessee within 7
days of signing the contract.
d. Violations are punishable by fines up to $50, imprisonment of up to 5 weeks, or both.
- CORRECT ANSWER: d. Violations are punishable by fines up to $50, imprisonment of
up to 5 weeks, or both.
Fines up to $5,000; imprisonment up to 5 yrs., or both.
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