Mastersgrade

Fiduciary applies to the relationships between people in many different positions. It does not apply to which of the following? ATrustor to beneficiary BAttorney-in-fact to principal CAttorney to client DAgent to seller - ANSWERTrustor to beneficiary Fiduciary is an agency relationship. Trustor to beneficiary is borrower to lender. A fiduciary relationship may be terminated by: Aagreement. Brevocation. Cdeath. Dall of the above. - ANSWERall of the above. What event does not ...

A court order prohibiting an act from being done is a(n): (a) injunction. (b) judgment. (c) attachment. (d) estoppel. - ANSWERSA What appraisal approach do you use when appraising vacant land? - ANSWERSSales Comparison Approach Value is best defined as - ANSWERSPresent worth of future benefits Which of the following would NOT be a valid reason for the seller to terminate a listing? (a) The broker had his/her license revoked (b) The seller declared bankruptcy (c) The broker wa...

A violation of a condition is more severe than a covenant and might result in the loss of title. - ANSWERSWhich of the following statements regarding deed restrictions is TRUE? Continue with the escrow - ANSWERSShortly after a valid escrow is established, both the buyer and seller die. What should the escrow agent do? 3 days - ANSWERSA buyer signs the purchase agreement and the seller accepts. The agent personally delivers acceptance of the offer to the buyer and also drops off the seller...

1. A real property security endorsement is valid for: a. as long as the broker's license is valid, and it needs no further endorsement. b. multiples of 4 years. c. one year. d. the term of the broker's license to which the endorsement is affixed. - ANSWERd. the term of the broker's license to which the endorsement is affixed. 2. A conventional loan would differ from an FHA loan in that the conventional loan would have: a. lower monthly payments. b. lower interest rates. c. lower...

Licensee A has out-of-town relatives come to visit and he shows them several listings. He ends up helping them rent a property with an option to purchase. He should make a disclosure to: - ANSWERThe Seller Which of the following cannot obtain a broker's license? - ANSWERPartnership A person who had leased a property for three years had to move out of state before the lease expired. In reading the lease, there was no mention of either subleasing or assigning the lease. The lessee: - ANSWER...

covenant of warranty - ANSWERSA promise in a deed that the grantor will guarantee and defend the title against lawful claimants. They're dividing the property proportionally so that each co-owner becomes sole owner of a portion. - ANSWERSWhen co-owners of a property decide to partition the property, what does it mean? Preliminary report - ANSWERSWhich document is used to give a buyer an overview of the title history and information about what is or isn't covered in an insurance policy? ...

If an attorney has general powers, he can do all of he following, except: - ANSWERSDeal in the principal's real property without recording the power of attorney In addition to the Real Estate Commissioner, the Real Estate Advisory Commission consists of: - ANSWERSTen members An attorney-in-fact is: - ANSWERSAny legally competent person who has received a power of attorney from another person An owner of a single-family residence sold his home with the aid of an unlicensed person. If th...

How many days do landlords have under current California law to return the unused portion of a security deposit? - ANSWERSA) 21 days In California, there are 4 levels of licensing for real estate appraisers. Which of the following is not one of them? - ANSWERSA) Licensed managing appraiser There is no such thing as a licensed managing appraiser. Certified residential appraisers are the 4th level of appraiser. California Real Estate Law requires that every applicant for a real estate bro...

How many days do landlords have under current California law to return the unused portion of a security deposit? - ANSWERSA) 21 days In California, there are 4 levels of licensing for real estate appraisers. Which of the following is not one of them? - ANSWERSA) Licensed managing appraiser There is no such thing as a licensed managing appraiser. Certified residential appraisers are the 4th level of appraiser. California Real Estate Law requires that every applicant for a real estate bro...

The main historical influence on law in the united sttes was - ANSWERSEnglish Law When one individual sues another, the lawsuit is called - ANSWERSa civil action The primary purpose of most civil laws is to - ANSWERScompensate a person who has been harmed A person who commits tort - ANSWERShas violated the standards of reasonable conduct imposed by law Which of the following would be more likely to issue an ordnace - ANSWERSThe pasadena city council Codification refers to - ANSWER...