California Real Estate Principles - Questions and Answers 2024, Exams of Nursing

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Questions and Answers 2024

(1) 1. The Real Estate Law is found in the a. Licensing Code b. Business and Professions Code c. Health and Safety Code d. Corporations Code - Correct Answers ✅Business and Professions Code (1) 2. The Real Estate Commissioner reports to the a. California Bureau of Real Estate b. governor c. Real Estate Advisory Commission d. legislature - Correct Answers ✅governor (1) 3. Salesperson Sam owns 25% of the outstanding shares of Rollo Realty, Inc., and broker Barbara Rollo owns the remaining shares. This division of ownership is? a. acceptable b. mandated c. discouraged

Questions and Answers 2024

d. prohibited - Correct Answers ✅acceptable (1) 4. Salesperson Sam is part owner of Rollo Realty, Inc. In the broker's absence, Sam frequently reviews the work of sales associates. This is? a. acceptable b. mandated c. discouraged d. prohibited - Correct Answers ✅prohibited (1) 5. A real estate business that is a partnership can have more than one office location, provided a. a broker partner obtains an additional license for each location b. all partners are real estate licensees c. there is a designated broker-officer d. there is at least one partner at each location - Correct Answers ✅a broker partner obtains an additional license for each location (1) 6. The sale or transfer of goods ordinarily held for sale in the course of business is governed in California by the?

Questions and Answers 2024

d. may act under authority of another agent's license for a period not to exceed 60 days - Correct Answers ✅must cease all real estate activities (1) 9. A real estate licensee can offer a mobile home for sale that is? a. in a manufacturing plant, ready for delivery b. transportable under an exemption from the vehicle code c. presold d. in a location where it can legally remain for one year - Correct Answers ✅in a location where it can legally remain for one year (1) 10. The Browns desperately want to move to Pine Bend, and they like the Smith House, which is listed by broker Bob. The Browns tell Bob they will make it worth his while if he can persuade the Smith's to accept the Brown offer on their house, and the Browns send an expensive food basket to Bob as a sign of their good faith. Bob neglects to mention this to the Smiths. This practice is a. acceptable b. mandated c. discouraged d. prohibited - Correct Answers ✅prohibited

Questions and Answers 2024

(1) 11. Broker Bob routinely places earnest money deposits in his personal account for overnight safekeeping. This practice is a. acceptable b. mandated c. discouraged d. prohibited - Correct Answers ✅prohibited (1) 12. Broker Luis has an exclusive listing agreement with the Pierces. The listing will terminate "when the parties agree". This practice is a. acceptable b. mandated c. discouraged d. prohibited - Correct Answers ✅prohibited (1) 13. When broker Bob exercised his option to buy Whiteacre, he presented to the owner of Whiteacre a written statement of his expected profit in the transaction. The seller agreed to proceed with the sale. This conduct is

Questions and Answers 2024

d. prohibited - Correct Answers ✅prohibited (1) 16. Salesperson Sally is selling the Martinez Mansion. An offer has been accepted, and the closing will take place in two weeks. While the owners are out of town, the buyer asks if the closing can be put off for one day. Sally agrees on behalf of the owners, for she is sure they will not object. Sally's conduct is a. acceptable b. mandated c. discouraged d. prohibited - Correct Answers ✅prohibited (1) 17. The Anderson house is for sale following the murder of Mrs. Anderson by Mr. Anderson in the breakfast room six months earlier. Salesperson Sam, showing an out-of-town prospect through the house, decides to keep information about the murder to himself. Sam's conduct is a. acceptable b. mandated c. discouraged d. prohibited - Correct Answers ✅prohibited

Questions and Answers 2024

(1) 18. Broker Luis is so busy that he never has the time to return the phone calls of his principals. He prefers to spend his time in the field making sales and acquiring new listings. This practice is a. acceptable b. mandated c. discouraged d. prohibited - Correct Answers ✅discouraged (1) 19. After attending a get-rich-quick real estate seminar, Kim wants to buy a house cheap. She tells broker Bob she will offer $50,000, with seller financing and no down payment, on the Henderson house. The Henderson house has an asking price of $125,000. Bob presents the offer with one of his own for $85,000, telling the Hendersons that the expected market conditions make their asking price unrealistic. His conduct is a. acceptable b. mandated c. discouraged d. prohibited - Correct Answers ✅prohibited

Questions and Answers 2024

(2) 3. Real Estate Law, which relies on court decisions as well as legislation, is based on a. Spanish civil law b. French civil law c. the right of appropriation d. English common law - Correct Answers ✅English common law (2) 4. Land disputes over the Spanish and Mexican land grants were settled by a. the Board of Land Commissioners b. the State of California c. the Spanish legal code d. taking all land for public use - Correct Answers ✅the Board of Land Commissioners (2) 5. In California, the term real estate is synonymous with a. land b. fixtures

Questions and Answers 2024

c. real property d. personal property - Correct Answers ✅real property (2) 6. Real property is NOT a. land b. real estate c. appurtenances to land d. movable - Correct Answers ✅movable (2) 7. The sale of the real property generally is governed by the laws of a. the state where the real property is located b. the state where the owner of the real property resides c. any of the states d. the federal government - Correct Answers ✅the state where the real property is located (2) 8. The sale of personal property generally is governed by the laws of a. the state where the personal property is located

Questions and Answers 2024

a. rarely accurate b. good only to describe the entire subdivision c. never required d. a good reference for a legal description - Correct Answers ✅a good reference for a legal description (2) 12. The most useful method of describing a subdivision parcel is probably the a. lot and block system b. rectangular survey system c. metes and bounds system d. U.S. government survey system - Correct Answers ✅lot and block system (2) 13. The rectangular survey system is also called the a. U.S. government survey system b. province and township system c. subdivision system d. California system - Correct Answers ✅U.S. government survey system

Questions and Answers 2024

(2) 14. California has how many principal baselines a. 1 b. 2 c. 3 d. 4 - Correct Answers ✅ 3 (2) 15. A township consists of how many sections a. 12 b. 18 c. 4 d. 36 - Correct Answers ✅ 36 (2) 16. A section is a. 640 acres b. six square miles c. 5,000 feet by 5,000 feet d. three leagues - Correct Answers ✅640 acres

Questions and Answers 2024

d. 320 - Correct Answers ✅ 160 (2) 20. The point of beginning is used in a. the rectangular survey system b. the metes and bounds system c. the lot and block system d. all legal descriptions - Correct Answers ✅the metes and bounds system (3) 1. A fee simple estate and life estate are a. freehold estates b. fee simple estates c. leasehold estates d. estates of tenancy - Correct Answers ✅freehold estates (3) 2. The highest form of ownership is the a. life estate b. real estate syndicate

Questions and Answers 2024

c. fee simple absolute d. estate at will - Correct Answers ✅fee simple absolute (3) 3. Victor and Karen are not married but together own community property because they are a. brother and sister b. joint tenants c. registered domestic partners d. holders of a life estate - Correct Answers ✅registered domestic partners (3) 4. A fee simple estate that may be lost when some act is performed is a a. life estate b. fees simple absolute c. remainder d. fee simple on condition subsequent - Correct Answers ✅fee simple on condition subsequent (3) 5. A fee simple estate that has no conditions is a

Questions and Answers 2024

(3) 8. When Aunt Winifred died, she left a life estate in Whiteacre to her nephew George. When George dies, Whiteacre will go to George's daughter Elizabeth. Elizabeth is a a. reversioner b. remainderman c. holder of a life estate d. joint tenant with right of survivorship - Correct Answers ✅remainderman (3) 9. If Greenacre is deeded by Lou to Mary for the life of Nancy, Nancy has a a. a life estate b. an estate in remainder c. an estate in reversion d. no interest - Correct Answers ✅no interest (3) 10. The owner of a life estate can a. sell only the life estate b. never will the life estate

Questions and Answers 2024

c. sell the fee simple estate d. sell both the life estate and the fee simple estate - Correct Answers ✅sell only the life estate (3) 11. Joint tenants have unity of a. interest but no possession b. title but no interest c. possession and title only d. time, title, interest, and possession - Correct Answers ✅time, title, interest, and possession (3) 12. Barbara and Mark own Blackacre as joint tenants. Barbara's will specifies that on her death her interest in Blackacre is to go to her sister Jacquie. When Barbara dies a. Jacquie will be a tenant in common of Blackacre with Mark b. Jacquie will be a joint tenant of Blackacre with Mark c. Mark will be sole owner of Blackacre d. the probate court will have to sell Blackacre and distribute the proceeds to Mark and Jacquie - Correct Answers ✅Mark will be sole owner of Blackacre