Aceable Agent: California Real Estate Practices -
Practice Assessment questions with correct answers
The DRE has the authority to do all of the following EXCEPT:
A. enforce subdivision laws
B. sentence agents who commit real estate license violations to prison
C. approve education providers
D. administer licenses Correct Answer-B. sentence agents who commit
real estate license violations to prison
Which of the following is an example of an acceptable use of a trust
account?
A. a broker depositing their personal paycheck in the same account
where they deposited a client's earnest money
B. mixing a fiduciary's funds with an agent's personal funds
C. holding earnest money while a transaction is waiting on approval
D. buying a car with a client's money Correct Answer-C. holding earnest
money while a transaction is waiting on approval
The parties to a signed contract have decided that they want to change
the closing date. The agent will need to prepare a(n):
A. addendum
,B. codicil
C. amendment
D. affidavit Correct Answer-A. amendment
When real estate costs more due to factors such as an increase in
construction costs, fewer people are willing to buy. This decrease in
willingness to buy is said to be a decrease in:
A: the seller
B: the buyer
C: the buyer's agent
D: the listing agent Correct Answer-A: the seller
What enters a home through cracks in the foundation?
A: lead
B: radon gas
,C: mold
D: asbestos Correct Answer-B: radon gas
Why was the UETA (Uniform Electronic Transactions Act) important to
real estate contracts?
A: The UETA said that earnest money must always be held in a trust or
escrow account.
B: The UETA said that there can only be a certain number of
amendments to a contract.
C: The UETA said that electronic signatures are just as legal as
handwritten signatures, and therefore have legally binding status.
D: The UETA said that the legal description is a necessary part of a real
estate contract. Correct Answer-C: The UETA said that electronic
signatures are just as legal as handwritten signatures, and therefore have
legally binding status.
The best way to create any agency relationship is to do so:
A: in writing
B: in person
C: verbally
D: through assumptions Correct Answer-A: in writing
What is an earnest money deposit?
, A: a type of property interest allowing tenants to occupy and use a
property they do not own
B: a financial arrangement in which the tenant agrees to pay for real
estate taxes, building insurance, and maintenance
C: a deposit made to a seller showing the buyer's good faith in regard to
the future performance of a sales contract
D: a deposit paid by the seller to the buyer in order to make agreed-upon
repairs Correct Answer-C: a deposit made to a seller showing the buyer's
good faith in regard to the future performance of a sales contract
When a worker controls how they accomplish their work, the worker is
likely a(n):
A building is newly constructed. An appraiser is most likely to use
which value approach in appraisal?
A: the market data approach
B: the income approach
C: the sales comparison approach
D: the cost approach Correct Answer-D: the cost approach
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