100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
CALIFORNIA REAL ESTATE SALESPERSON FINAL EXAM LATEST WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS ALREADY GRADED A+ 100% GUARANTEED PASS!$24.99
Add to cart
CALIFORNIA REAL ESTATE SALESPERSON FINAL
EXAM LATEST 2024-2025 WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS
ALREADY GRADED A+ 100% GUARANTEED PASS!
Stock in a mutual water company is best described as: - ANSWER-Real Property
When two ore more parties own real property as co-owners with the right of
survivorship, what is the tenancy called? - ANSWER-Joint Tenancy
How long must one use another's land open and notoriously to obtain an
easement by prescription? - ANSWER-5 years
Adverse possession is an example of how title to land an be acquired by: -
ANSWER-Occupancy
In the Rectangular Survey System, what would one call the lines running East
and West? - ANSWER-Base lines
All property acquired by a husband and wife during a valid marriage (except for
separate property) is called: - ANSWER-Community Property
,What is the fullest freehold estate in fee that one can hold?
A) Life Estate
B) Fee Simple Absolute
C) Fee Simple Conditional
D) Lease Hold Estate - ANSWER-B) Fee Simple Absolute
That which is immovable by law is also known as: - ANSWER-Real property
The most common way to create an agency relationship is: - ANSWER-Agency
by agreement
If an agent provides the buyer with the Real Estate Transfer Disclosure
Statement after the offer is presented, how long does the buyer have to rescind
the agreement? - ANSWER-3 days
A seller's agent may do all of the following except: - ANSWER-Say, "Leave it to
me. I can get you the house at the price you want."
As a result of the decision in (Easton v. Strassburger, 1984) real estate agents
can be held liable for not only for defect they know about but also: - ANSWER-
Defects they should have known about through a reasonable inspection.
A broker is considered which of the following to the principal? - ANSWER-
Special agent
What properties are touched and concerned by Agency Disclosure Law? -
ANSWER-1-4 unit residential property.
,When underwriting a loan application, a mortgage company is usually
interested in which of these values? - ANSWER-Market Value
Which of the following would not be depreciated? - ANSWER-Unimproved land
leases for open storage.
An investor buys an apartment building for $140,000 after estimating that it
will have a net income of $40,000 annually. Which value principle is at work
here? - ANSWER-Principle of anticipation
In order to discover the fair income of the property, an appraiser looks at
what? - ANSWER-Economic rent
The life cycle of a neighborhood occurs in these four stages, in this order: -
ANSWER-Growth, Stability, Decline, Revitalization.
According to the principle of conformity, a residential property maintains a
higher value when it - ANSWER-Is in the center of its subdivision.
The note that calls for payment of interest only is called a/an: - ANSWER-
Straight note
The note that calls for periodic payment of both principal and interest so both
are paid by the end of the term is called a/an: - ANSWER-Fully amortized
installment note.
A process which allows a borrower to remain in possession of the property
while using it to secure a loan is called: - ANSWER-Hypothecation
, The term that describes the interest of a creditor in the property of a debtor: -
ANSWER-Security Interest
The deed of trust is considered to be: - ANSWER-Security for the debt
Who is the borrower in the written promise to pay a debt? - ANSWER-Maker
A couple is divorcing. The husband is ordered to convey his interest to the wife.
When must she receive the Transfer Disclosure Statement? - ANSWER-It is not
requried.
What law applies to the sale of a business? - ANSWER-Bulk transfer laws.
Real property may be transferred or alienated by all of the following except: -
ANSWER-Inheritance.
When title to land is conveyed from a trustee to a borrower after the borrower
pays off the loan, the instrument used is a/an: - ANSWER-Reconveyance deed.
A real estate firm has an in-house title company, mortgage broker and home
inspection company under one business entity. This is allowable only if: -
ANSWER-Control business arrangements are clearly disclosed to the consumer
and the consumer is aware that other providers are available.
What is a trust fund account exclusively used for? - ANSWER-Holding clients'
money.
The laws that affect the licensing and conduct of real estate agents are called: -
ANSWER-Real estate law.
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 trustednurse. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $24.99. You're not tied to anything after your purchase.
