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California Real Estate Exam Questions And Answers With Verified Solutions Already Passed Rated A+
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California Real Estate Exam Questions And Answers With Verified Solutions Already Passed Rated A+
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California Real Estate Exam QuestionsAnd Answers With Verified Solutions
Already Passed Rated A+
Broker A receives two offers on Seller B's house, which is listed for sale at
$250,000. The first offer is for all cash at $200,000. The second offer is for 20%
down with 80% financing for the full price. What should the broker do with respect
to both offers? - ANSWER✔✔Present both offers to the seller as soon as possible.
The two primary documents dealing with payment of a loan are the mortgage or
deed of trust and a - ANSWER✔✔promissory note.
The term that best describes a continuous urban corridor joining at least two cities
is - ANSWER✔✔megalopolis.
The term real property can also be described as - ANSWER✔✔the bundle of
rights.
The rights of a landowner to a river bordering her property are known as -
ANSWER✔✔riparian rights.
In the case of a transfer of ownership of a piece of real estate, a fixture is normally
- ANSWER✔✔assumed to be included in the transfer.
A tenant who operates a jewelry store wants to take his jewelry cases with him at
the expiration of the lease. What is the best solution? - ANSWER✔✔He may take
the cases if removal will not cause substantial damage.
,A legal description of property is not adequate unless - ANSWER✔✔land
boundaries are defined.
The lot and block system of property description is not also known as the -
ANSWER✔✔rectangular survey system.
What best describes the interests of the holder of a life estate? -
ANSWER✔✔possession, use, and ownership
How many acres does a section of land contain? - ANSWER✔✔640
The requirement that multiple owners take title to property at the same time is a
characteristic of - ANSWER✔✔joint tenancy.
The type of ownership that provides the most complete bundle of rights is -
ANSWER✔✔fee simple absolute.
Which are most similar to each other with respect to inheriting property? -
ANSWER✔✔joint tenancy and community property with right of survivorship
(both allow for reversion to remaining owners)
A statement of the goals and policies regarding growth of a community is a good
definition of the - ANSWER✔✔general plan.
The primary difference between a common interest subdivision and a standard
subdivision is - ANSWER✔✔ownership of common areas.
,Which of the following is a generic term for a group of people joining together to
invest in real estate? - ANSWER✔✔syndicate
The proper way for a landowner who has physical difficulty in developing his
property to get relief is to obtain a - ANSWER✔✔variance.
When is a landowner entitled to compensation for a change in zoning? -
ANSWER✔✔when the landowner is denied all practical economic use of the
property
At which lot does the Subdivided Lands Law take effect? - ANSWER✔✔the fifth
lot
The state has enacted legislation providing special consideration or control for
development of - ANSWER✔✔rangeland, earthquake areas & coastal areas
The land that benefits from an easement is referred to as the -
ANSWER✔✔dominant tenement.
All liens are encumbrances. All encumbrances are - ANSWER✔✔limitations.
A deed restriction prohibiting the sale of property to certain ethnic groups -
ANSWER✔✔is illegal and unenforceable.
A mechanic's lien creates - ANSWER✔✔a cloud on title.
, A private deed restriction that places a restraint on alienation - ANSWER✔✔is
void, restricts the sale of property and is unenforceable.
An easement is an encumbrance - ANSWER✔✔always.
The seller of a one-family house is required to disclose to buyers -
ANSWER✔✔the structural and mechanical condition of the property.
The process by which eminent domain occurs is called - ANSWER✔✔police
power.
An agent represents a - ANSWER✔✔principal.
Which of the following types of easement does not run with the land? -
ANSWER✔✔the electric company's easement to cross over your land with their
power lines
What is another term for an agent entrusted to act on someone's behalf? -
ANSWER✔✔fiduciary
The agent who brings a ready, willing, and able buyer to a seller is commonly
called the - ANSWER✔✔procuring cause.
Broker A agrees to represent Seller B in the sale of her house. Seller B agrees to
pay Broker A a commission if he successfully sells the house. What do we know
for certain based on these facts? - ANSWER✔✔A bilateral express contract exists
between Broker A and Seller B
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