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CALIFORNIA REAL ESTATE LICENSE EXAM 1 2024/2025
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CALIFORNIA REAL ESTATE LICENSE EXAM 1 2024/2025
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CALIFORNIA REAL ESTATE LICENSEEXAM 1 2024/2025
1.1. A title was recorded for a parcel of real property vested in the name
of Johan Wilson, a single woman. After her marriage to William
Roberts, she executed a deed to the property only in the name of Johan
Roberts, a married woman. The discrepancy in the grantors name is:
A. Valid if William Roberts agrees to it
B. A defect on title that may cause title to be vested as tenants in
common
C. Immaterial if the property is properly described
D. A defect which may cause a cloud on the title - Precise Answer ✔✔A
defect which may cause a cloud on the title.
1.2. Which contract would be the most difficult for a buyer to obtain
financing?
A. Land Contract
B. FHA
C. VA
D. Conventional - Precise Answer ✔✔Land Contract
1.3. When a broker runs an advertisement, the broker must disclose:
,A. Last name of the broker
B. Name of the broker
C. Name of broker and salesperson
D. Name of the salesperson - Precise Answer ✔✔Name of the broker
1.4. Following in-house sales are true, except:
A. The listing agent can act as a dual agent
B. The listing broker can act as a buyers agent only
C. The broker may purchase the property himself
D. The seller may represent the seller only - Precise Answer ✔✔The
seller may represent the seller only
1.5. The Federal Housing Administration (FHA) was created primarily:
A. To provide insurance for home loans in the secondary market
B. To insure the borrower
C. To provide insurance for home loans made by approved lender
D. To improve the economy for mortgage bankers - Precise Answer
✔✔To provide insurance for home loans made by approved lenders
1.6. Which of the following loans on a home would probably be made
without requiring a down payment from the borrower?
,A. VA Loan
B. CAL-VET
C. FHA
D. Conventional - Precise Answer ✔✔VA Loan
1.7. A person who wishes to purchase a home using the Cal-Vet
program would send his application to:
A. Department of Real Estate
B. Real Estate Commissioner
C. Department of Veterans Affairs
D. Veterans Administration - Precise Answer ✔✔Department of
Veterans Affairs
1.8. The item that would appear on the debit side of a buyer's closing
statement would be:
A. Purchase Price
B. Prepaid Rents
C. Mortgage Insurance
D. Down Payment - Precise Answer ✔✔Purchase Price
1.9. When dealing with the public, a broker may not:
, A. Disclose any of his duties to other agents
B. Remain silent concerning material facts about a property known only
by himself
C. Reject a listing if it is discriminatory or overpriced for minorities
D. All of the above - Precise Answer ✔✔Remain silent concerning
material facts about a property known only by himself
1.10. Which of the following is the reason that a real estate agent must
keep his principal informed of material facts concerning a pending real
estate transaction?
A. When the agent is a fiduciary
B. When it's printed on the purchase agreement
C. When the agent concerned with the commission which seller is
paying
D. When the broker works only for the seller - Precise Answer
✔✔When the agent is a fiduciary
1.11. A buyer relied upon the fraudulent statement of the seller's agent
and was damaged. The seller was unaware of the agent's false statement,
and he tried to enforce the agreement. The buyer:
A. Could sue the seller for fraud
B. Could sue the seller's agent for fraud
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