CA Real Estate Exam- Practice Q&As (Latest Update 2024), Exams of Nursing

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(Latest Update 2024)

Two friends hold title as joint tenants. One borrowed money and executed a deed of trust against the property. In terms of affecting title this action could: - Correct Answer ✅ Place the beneficiary in a precarious position should the borrower die before the debt is paid. Joint tenant estate held by two joint tenants is severed and ended by the following: - Correct Answer ✅ A foreclosure by one of the joint tenants. One of the joint tenants transfers his interest to a third party. One of the joint tenants sell his interest. A man owns six seperate parcels of real property. He wants to offer all of the parcels as security for a mortgage loan. The mortgage that he will obtain will probably be? - Correct Answer ✅ A blanket mortgage All of the following acts of one joint tenant terminates a joint tenancy except when the joint tenant: - Correct Answer ✅ Mortgages his or her share

(Latest Update 2024)

Avulsion - Correct Answer ✅ Is the sudden tearing away of land by the the action of water When appraising a home build in 1910 the appraiser must use: - Correct Answer ✅ Today's cost and today's reproduct ion cost The appraiser gives an 30 year old home a rating of 6 years is called: - Correct Answer ✅ Effective age a home painted in 1972, even if the seller repainted the property a lead based paint booklet is required, if not, the ommission allows the buyer to: - Correct Answer ✅ cancel the transaction. Not funtional obsolescense - - Correct Answer ✅ Proximity of nuisances Intestate means: - Correct Answer ✅ Someone that left no will

(Latest Update 2024)

A principle may request an accounting from the real estate agent of his funds : - Correct Answer ✅ At any time The seller's responsibility is to transfer the property: - Correct Answer ✅ Free and clear When compare to real estate, stocks and bonds are: - Correct Answer ✅ More liquid Which of the following are liens? - Correct Answer ✅ Incometax Judgements Attachment subagents: - Correct Answer ✅ They work for the seller If a builder pays $35 an hour to a hostess, to perform an open house, to answer questions: - Correct Answer ✅ a license is required to answer questions

(Latest Update 2024)

Who must disclose Mello - Correct Answer ✅ Seller (OWNER) if the electrical was intalled by the son-in-law of the seller, and not to code and the buyer moves in, and after, the property catches on fire : - Correct Answer ✅ the real estate agent is innocent of any wrong doing Miles sold a home to North with the help of Olsten, if the buyer (North) finds out that something was not properly disclose by Miles and Olsten, this is called: - Correct Answer ✅ Fraud Logan sold a home to Hughes, if Hughes backs out: - Correct Answer ✅ Logan can sue for a specific performance A buyer pays for which of the following? - Correct Answer ✅ Escrow, Title, Insurance

(Latest Update 2024)

The granting of doing business or to sell a product under a name with restrictions from the grantor is called: - Correct Answer ✅ Franchise Agents may get sued for: - Correct Answer ✅ Any Wrong doing A person who is delegated in an intrument to legally do something for another person in his stead is called - Correct Answer ✅ Attorney in fact The terms of exclusive right to sell listing are - Correct Answer ✅ The exact requirements of the sellers instructions An advertisement to lease properties only to married couple is - Correct Answer ✅ Illegal The offers must be presented: - Correct Answer ✅ even if they are oral and in writing

(Latest Update 2024)

Intangible personal property: - Correct Answer ✅ is not taxible The real estate commissioner" - Correct Answer ✅ Promulgates the real estate law Unemployment: - Correct Answer ✅ Does not affect the interest rates directly Payment of Money - Correct Answer ✅ is not necessary for a valid contract To hire self employed agents is an advantage: - Correct Answer ✅ Is an advantage because the broker doesnt collect social security Balloon payment means: - Correct Answer ✅ all balances due at once If the A.P.R. is disclose: - Correct Answer ✅ No additional disclosures are required

(Latest Update 2024)

An easement can be canceled by signing a: - Correct Answer ✅ Quitclaim deed For income tax purposes improvements are - Correct Answer ✅ Added to the basis of the property. For income tax purposes improvements are - Correct Answer ✅ Added to the basis of the property Information concealment by an agent is - Correct Answer ✅ Misrepresentation A strip lines of stores are: - Correct Answer ✅ Shopping centers In a counter offer: - Correct Answer ✅ the buy may reject to perform or to cancel

(Latest Update 2024)

The agency is terminated - Correct Answer ✅ if the property is destroyed by fire Outmoded design is: - Correct Answer ✅ Function absolescene In a purchase money trust deed" - Correct Answer ✅ A loan disclosure is required A lender may evict a borrower within - Correct Answer ✅ 3 months A mispelled name in a deed: - Correct Answer ✅ May be corrected with a quitclaim deed A standard policy of title insurance doesnt cover - Correct Answer ✅ property lines oral commission - Correct Answer ✅ are legal if the seller selects to do so

(Latest Update 2024)

Conflicts with the LA county codes and the uniform codes - Correct Answer ✅ the one with the highest standards of safety will apply An offer presented with a $1000 note - Correct Answer ✅ Communicate to the seller the type of deposit before acceptance 1/2 a mile by 1/2 miles is: - Correct Answer ✅ 160 Acres When appraising a site the appraiser applies the - Correct Answer ✅ Highest and best use Successor liability has to do with - Correct Answer ✅ The Alcohol Beverage Control Board If equal payments are made - Correct Answer ✅ The equity increases and interest rate decreases

(Latest Update 2024)

an offer written on April 24th with a contingency, the seller to respond within 5 days, if the seller fails to respond: - Correct Answer ✅ The seller must return the deposit to the buyer The analysis for a residential property is : - Correct Answer ✅ Marketability and acceptablility Impound account is - Correct Answer ✅ recuring cost items If a broker has out-of state relatives and wants to buy a propery in CA. With a lease option to buy,the broker must present disclosure to - Correct Answer ✅ The seller (owner) Owner Tesoro listed a valand with Broker Gonzalez for $124,200, Buyer Carter made and offer for $123,000 with a 3 days expiration date. The following date the seller counter back with a sales price of $123,600. When Broker Gonzales presented the counter offer to buyer

(Latest Update 2024)

Carter he rejected the conter offer. When Tesoro found out of Carters rejection the seller accepted Carter's previous offer of $123,000. Which of the following is true? - Correct Answer ✅ There is no contract Which of the following is invalid in its inception? - Correct Answer ✅ Legal incompetence of a grantor Which of the following is essential for an agency: - Correct Answer ✅ Competency, Fiduciary, Agreement to the parties to the contract Before communication to the perspective purchaser of the seller acceptance of an offer, the buyer may cancel for any reason - Correct Answer ✅ at any time Buyer Hanson, contacted Broker Cohen, Hanson told Cohen that he wants to buy a property that is not listed. Broker Cohen approaches the seller to obtain a listing,

(Latest Update 2024)

the seller told Cohen that he is not intrested in selling. A week later buyer Hanson got into negotiations with the seller, which of the following is true? - Correct Answer ✅ The broker is entitled to nothing The duty to preserve confidential information terminates - Correct Answer ✅ When the agency ends Buyer wilson signed an offer before the listing broker could obtain an unqualified acceptance Wilson died - Correct Answer ✅ The death of Wilson worked a revocation of the offer The labor code 37000 is - Correct Answer ✅ Workers Comp Corn Crops are - Correct Answer ✅ Emblements The fiduciary duty to the seller is the same as - Correct Answer ✅ Beneficiary to trustee

(Latest Update 2024)

Take out stands for - Correct Answer ✅ Long term construction loan RESP applies to which of the following properties? - Correct Answer ✅ Single family homes 1-4 units Escrow settlement statement: - Correct Answer ✅ could be different SAM LOAN: - Correct Answer ✅ Shareed Appreciation Mortagage- any increase in the value of the home will be split with ur mortgage lender. SAM loans are recommended in a strong financial market CHILD SUPPORT - Correct Answer ✅ Has to be paid before a license is issued The benefits of Tax Shelter - Correct Answer ✅ Income tax purposes

(Latest Update 2024)

Brokers Trust Account - Correct Answer ✅ It is not necessary for a broker to have one REAL PROPERTY - Correct Answer ✅ Vegetation FNMA (Fannie Mae) - Correct Answer ✅ Provides a secondary market for FHA and VA Company dollar - Correct Answer ✅ is the amount of commission reamining to the broker after paying the salesperson and other possible commissions. A property held in "Severalty" is owned by: - Correct Answer ✅ Sole Ownership What is the best way to depreciate a 20 year old commercial building - Correct Answer ✅ Straight line depreciation The land that is subject to an easemnt is - Correct Answer ✅ Encumbered

(Latest Update 2024)

Subdivision reports must be filed with the - Correct Answer ✅ city or county where the land is located The agent most likely to earn a sales commission - Correct Answer ✅ Is the one who communicates acceptance of the offer from the seller to the buyer If a buyer withdraws - Correct Answer ✅ the seller may sue for a specific performance PARTY WALL - Correct Answer ✅ Is a wall that divides two apartment buildings What does Lis Pendens stand for - Correct Answer ✅ Judgment pending The construction member found above the doors and windows is called - Correct Answer ✅ Header

(Latest Update 2024)

Turnkey Project - Correct Answer ✅ Is a construction project completed (ready for occupancy) Grandfather clause - Correct Answer ✅ is a continuation of a non-conforming use Interim use - Correct Answer ✅ is the current use of a building to its highest and best use R - Correct Answer ✅ Resistance to heat flow EEr - Correct Answer ✅ Energy Efficiency Ratio Leverage - Correct Answer ✅ Is to borrow money to the maximum extend possible Novation - Correct Answer ✅ Is a contract replace entirely by a new one

(Latest Update 2024)

Ownership rights are represented by - Correct Answer ✅ Estate or Fees Home Accomodations mean - Correct Answer ✅ Units 1 through 4 Police power means - Correct Answer ✅ Zoning Acceleration clause means - Correct Answer ✅ permits the lender to call the loan for behind payments "Due-on-Sale" means - Correct Answer ✅ Alienations. Under aliation, permits the lender to demand full payment of loan in the event title is transferred An agent may sell a mobile home that is - Correct Answer ✅ Registered A fictitous business name expires - Correct Answer ✅ Every 5 years on December

(Latest Update 2024)

If a lender accepts a deed in lieu of foreclosure he assumes - Correct Answer ✅ Any junior liens Metes and bounds represents - Correct Answer ✅ Metes are measures of length, inches, feet, yards and bounds are measures of boundaries, using, monuments or benchmarks nature or artificial The members that support the roof loads is the - Correct Answer ✅ Rafters The new owner would probably prefer to have which items removed from his title report at the time of transfer - Correct Answer ✅ A mechanics lien A voidable contract is - Correct Answer ✅ Valid until voided The maximum commission a broker may charge a seller for the sale of residential income property is - Correct Answer ✅ Negotiable

(Latest Update 2024)

An offeror signed a contract under duress the contract is - Correct Answer ✅ voidable by the offeror A business opportunity sold with a document similar to a deed is called - Correct Answer ✅ Bill of Sale The transfer of Bulk sales applies to - Correct Answer ✅ Transfer of personal property, inventory or merchandise Loan origination fees are paid by the - Correct Answer ✅ Buyer