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California Real Estate Exam 2024 Questions And Answers With Verified Solutions Already Passed!!!
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California Real Estate Exam 2024 Questions And Answers With Verified Solutions Already Passed!!!
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California Real Estate Exam 2024Questions And Answers With Verified
Solutions Already Passed!!!
An insurance policy which combines personal liability insurance and hazard
insurance coverage for a dwelling and its contents is called -
ANSWER✔✔Homeowners insurance
What is the status of a contract when all the terms have been fulfilled and the
transaction has been closed? - ANSWER✔✔Fully executed
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: -
ANSWER✔✔Several 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 - ANSWER✔✔Easement appurtenant
Linda purchased a fee simple interest for the private use of a residential property
for one week every single year. What did Linda purchase? - ANSWER✔✔Resort
timeshare
What is the highest form of landownership which includes the full and complete
bundle of property rights? - ANSWER✔✔Fee simple absolute
What type of ownership would allow two or more owners to have various unequal
percentages of ownership? - ANSWER✔✔Tenancy in common
, Tendency in severalty is best described as - ANSWER✔✔One property owner
Which of the following is not one of the four land use controls? -
ANSWER✔✔intestate
What is the general purpose for cities to require building permits? -
ANSWER✔✔To require a minimum level of construction standards
The interest rate bank charge to their preferred customers is called -
ANSWER✔✔The prime rate
The city of Brownwood plants to build a new water treatment facility, but the land
that is required is privately owned. Eminent domain allows the city to -
ANSWER✔✔Take possession of the land against the owners wishes yet the owner
must be compensated
When the appraised value of a property is given, it is based on -
ANSWER✔✔Comparable sales
Agent Brooke is preparing for a listing appointment and has gathered information
to prepare a report of recent market data for the seller to review. The report agents
reconcile to obtain a reasonable list price for a property based on current listings,
recent sales and expireds would be called. - ANSWER✔✔Comparative market
analysis (CMA)
Paul owns an older residential property in an area now zone for commercial use.
Paul decides to renovate the home into a laundromat. The change in the properties
functionality for Paul's financial gain is an example of what -
ANSWER✔✔Highest and best use
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