CA Real Estate Exam 2024 Practice Questions and Answers
4 views 0 purchase
Course
Real Estate
Institution
Real Estate
An insurance policy which combines personal liability insurance and hazard insurance coverage for a dwelling and its contents is called:
Homeowner's insurance
Buyer's insurance
Errors and omissions insurance
All of the above - answer-Homeowner's insurance
Homeowner's insurance ensures comp...
CA Real Estate Exam 2024 Practice Questions and Answers
CA Real Estate Exam 2024 Practice
Questions and Answers
An insurance policy which combines personal liability insurance and hazard
insurance coverage for a dwelling and its contents is called:
Homeowner's insurance
Buyer's insurance
Errors and omissions insurance
All of the above - answer-✔Homeowner's insurance
Homeowner's insurance ensures comprehensive protection for homeowners.
What is the status of a contract when all terms have been fulfilled and the
transaction has been closed?
This means that both parties have performed their obligations under the contract
and there are no further actions required. At this point, the contract has been
completely executed and both parties are typically released from any further
obligations under the agreement.
CA Real Estate Exam 2024 Practice Questions and Answers
,Surface rights, air rights, and subsurface rights are all rights that can be sold by a
property owner while still retaining the property itself. These rights are known as:
Severable rights
Littoral rights
Owner's rights
Riparian rights - answer-✔Severable rights
Surface rights, air rights, and subsurface rights can be sold separately and are
called severable rights.
When an easement allows the use of a neighboring property which automatically
transfers upon the sale of either dominant or servient property, it is called what
type of easement?
Easement by prescription
Easement appurtenant
Easement in gross
Easement of utility - answer-✔Easement in appurtenant
Appurtenant means "runs with the land."
Linda purchased a fee simple interest for the private use of a residential property
for one week every single year. What did Linda purchase?
Shares in a cooperative building
A condominium
,Common elements
Resort timeshare - answer-✔Resort timeshare
Vacation timeshare resorts sell a fee simple form of ownership to a buyer for the
private and exclusive use of a unit for one week a year. There is title work, a
closing, and the buyer is conveyed a deed.
What is the highest form of land ownership which includes the full and complete
bundle of property rights?
Fee simple absolute freehold estate is the highest level of property ownership
giving the ownership giving the owner the right of possession, control, exclusion,
enjoyment, and disposition.
What type of ownership would allow two or more owners to have various unequal
percentages of ownership?
Joint tenancy with rights of survivorship
Joint tenancy
Tenancy in common
Tenancy in severalty - answer-✔Tenancy in common
, Tenancy in common grants owners to have an equal, undivided interest in a
property, but also allows owners to have varying percentages of unequal ownership
as well.
Tenancy in severalty is best described as:
Two property owners
One property owner
More than two property owners
Property owned by a corporation - answer-✔One property owner
Severing all other owners, when a single person is the sole owner of a property.
Which of the following is not one of the four land use controls?
Police power
Intestate
Escheat
Eminent domain - answer-✔Intestate
The four public land use controls in real estate are: police power, escheat, eminent
domain, and taxation. Intestate is a person who died without making a will.
What is the general purpose for cities to require building permits?
Permit fees are income for the city
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller CleanA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
