Final Exam

A  malicious misrepresentation.

B  negligent misrepresentation.

C  fraudulent misrepresentation.

D  innocent misrepresentation.

A  longitude and latitude lines.

B  base lines and meridian lines.

C  lines of demarcation.

D  lines of metes and bounds.

A  A receptionist in a real estate sales office.

B  A handyman working regularly for a property management firm.

C  A real estate broker working for another real estate broker.

D  Janitorial staff for a real estate sales office.

A  subsidize rents for low income renters.

B  help minority buyers obtain financing for new home purchases.

C  make funds available for residential loans in distressed areas.

A  45 calendar days

B  21 calendar days

C  15 days

D  20 days

A  buys back bonds, lowers the discount rate, and lowers the reserve requirements of banks.

B  lowers the discount rate.

C  lowers the reserve requirements of banks.

D  buys back bonds.

A  cannot show or rent vacant units.

B  can show or rent vacant units if the interested party is informed of the situation.

C  can show or rent vacant units if if the interested party is given a copy of the pest control report.

D  None of the above.

A  targeting.

B  redistricting.

C  redlining

D  gerrymandering.

A  10-day termination notice.

B  15-day termination notice.

C  30-day termination notice.

D  20-day termination notice.

A  ridge board.

B  joist.

C  flashing.

D  sill.

A  0.05

B  160

C  Zero

D  320

A  four years.

B  three years.

C  two years.

D  five years.

A  Estate for years

B  Estate at will

C  Estate at sufferance

D  Estate from period-to-period

A  functional obsolescence.

B  economic obsolescence.

C  functional depreciation.

D  none of the above.

A  $5,000,000 and $3,000,000

B  $3,000,000

C  $10,000,000

D  $5,000,000

A  none of the answers are correct

B  termite inspection

C  foundation condition inspection

D  structural damage inspection

A  Rents

B  Title insurance

C  Property taxes

D  Interest

A  attached.

B  restricted and encumbered

C  restricted.

D  encumbered.

A  Escrow Assistant

B  Process Administrator

C  Broker Assistant

D  Transaction Coordinator

A  It is incurable

B  It is a result of off property causes

C  It is due to changes in the neighborhood

D  It is due to wear and tear

A  Date of purchase

B  Agreement

C  Intention

D  Adaptability

A  express contract.

B  implied contract.

C  express contract and mutual consent.

D  mutual consent.

A  require a seller and/or salesperson to disclose.

B  require a seller and/or salesperson to disclose, usually fund street improvements, and are municipal bonds.

C  usually fund street improvements.

D  are municipal bonds.

A  an imperfect fee estate.

B  a fee simple defeasible estate

C  a restricted fee estate.

D  none of the above.

A  any of the above.

B  mutual savings banks.

C  pension funds.

D  mortgage bankers.

A  Landscaping

B  Roofing

C  Plumbing

D  Landscaping, Roofing and Plumbing

A  loss in value from any cause.

B  incurable.

C  curable.

D  loss in value from any cause, curable and incurable.

A  Buyer’s Inspection Advisory

B  Disclosure Regarding Real Estate Agency Relationship, Buyer’s Inspection Advisory and Wire Fraud and Electronic Funds Transfer Advisory

C  Wire Fraud and Electronic Funds Transfer Advisory

D  Disclosure Regarding Real Estate Agency Relationship

A  Broker

B  Vendee

C  Buyer

D  Seller

A  Illegal in California

B  Exclusive

C  Bilateral contract

D  Nonexclusive

A  Unlawful Detainer.

B  Curb Summons.

C  Writ of Possession.

D  Three-Day Notice to Pay.

A  November 1

B  February 1

C  December 10

D  November 1, December 10 and February 1

A  345

B  43,560

C  100,000

D  435

A  Requires 70% correct score to pass

B  Lasts three hours and fifteen minutes

C  150 multiple-choice questions, Requires 70% correct score to pass and Lasts three hours and fifteen minutes

D  150 multiple-choice questions

A  Community Lease Transaction Account.

B  California Land Title Association.

C  California Land Tax Association.

D  California Landlord Tenant Association.

A  Federal Civil Rights Act.

B  Unruh Civil Rights Act.

C  Rumford Act.

D  none of the above.

A  lender.

B  escrow.

C  borrower’s spouse.

D  third party.

A  unearned increment.

B  kiosk.

C  conduit.

D  turnkey.

A  estate for years.

B  estate in remainder.

C  estate in reversion.

D  life estate.

A  Progressive

B  Static

C  Regressive

D  Marginal

A  Mechanic’s lien

B  Tax assessment

C  Mechanic’s lien and Tax assessment

D  Trust deed

A  description of the property.

B  length of the lease.

C  names of the parties.

D  words “let or demise.”

A  Disclosure Regarding Real Estate Agency Relationship, Possible Representation of More Than One Buyer or Seller – Disclosure and Consent, and Wire Fraud and Electronic Funds Transfer Advisory

B  Wire Fraud and Electronic Funds Transfer Advisory

C  Disclosure Regarding Real Estate Agency Relationship

D  Possible Representation of More Than One Buyer or Seller – Disclosure and Consent

A  third party.

B  agent.

C  principal.

D  buyer.

A  with new, unique, or public buildings.

B  for properties that generate income.

C  at finding similar comparable properties.

D  for properties that generate income and at finding similar comparable properties.

A  real estate investment transfer.

B  residential encouragement involving trusts.

C  real estate investment trust.

D  real equity interest trust.

A  must have court approval to contract.

B  cannot individually contract, must have court approval to contract, and is of unsound mind.

C  cannot individually contract.

D  is of unsound mind.

A  refunded in full.

B  doubled.

C  forfeited.

D  prorated in escrow.

A  stated on the note.

B  the effective interest rate.

C  compounded daily.

D  a guarantee of negative amortization.

A  the broker or seller dies.

B  the property is destroyed.

C  the property is destroyed, the agency agreement expires, and the broker or seller dies.

D  the agency agreement expires.

A  Private lenders

B  Mortgage companies, Credit unions, and Private lenders

C  Credit unions

D  Mortgage companies

A  poor taste.

B  block busting.

C  steering.

D  redlining.

A  A home of greater value is worth less when located among homes of lesser value.

B  A home of lesser value is worth more when located among homes of greater value.

C  A home of lesser value is worth less when located among homes of greater value.

D  A home of greater value is worth more when located among homes of lesser value.

A  Mt. Diablo Base Line and Meridian

B  San Bernardino Base Line and Meridian

C  Humboldt Base Line and Meridian

D  Baja Base Line and Meridian

A  deed.

B  verification.

C  actual notice.

D  none of the above.

A  subtracted from the sales price of the comparable.

B  added to the sales price of the comparable.

C  just noted on the appraisal but nothing is done.

D  none of the above.

A  title insurance.

B  coinsurance clause.

C  preliminary title report.

D  none of the above.

A  in writing.

B  by registered mail, personally, and in writing

C  personally.

D  by registered mail.

A  covenants, conditions, and restrictions.

B  construction, conditions, and restrictions.

C  covenants, communities, and residents.

D  conditions, control, and residuals.

A  title provenance.

B  title plant.

C  chain of title.

D  string of title.

A  physical life remaining in the improvements.

B  economic life remaining in the improvements.

C  chronological age of the improvements.

D  none of the above.

A  homealong.com and buymyhouse.com

B  realtor.com and zillow.com

C  None of the answers are correct

D  perfectrealtor.com and lowcommission.com

A  the bylaws.

B  the CC&Rs.

C  a copy of the most recent financial statement, the CC&Rs, and the bylaws.

D  a copy of the most recent financial statement.

A  Incompetents

B  Minors

C  Foreign persons (aliens)

D  Convicts

A  70%

B  90%

C  60%

D  80%

A  life estate.

B  less-than-freehold estate.

C  estate in waiting.

D  estate in remainder.

A  blanket encumbrance.

B  multi-tract lien.

C  full lien.

D  none of the above.

A  water pressure.

B  energy efficiency (the higher the better).

C  credit rating.

D  water purity.

A  Statewide Buyer and Sellery Advisory

B  None of the answers are correct

C  Natural Hazard Disclosure Statement

D  Residential Listing Agreement

A  They are easily transferable from one person to another.

B  Promissory notes are considered negotiable instruments.

C  They are easily transferable from one person to another, promissory notes are considered negotiable instruments, and the most common example of a negotiable instrument is a personal check.

D  The most common example of a negotiable instrument is a personal check.

A  owner refuses to sell to the buyer.

B  broker is not licensed .

C  seller is not the legal owner.

D  buyer is legally incompetent.

A  real property.

B  private property.

C  personal property.

D  none of the above.

A  replaces a court of law.

B  replaces a court of law and gives legal advice.

C  enforces the Real Estate Law.

D  gives legal advice.

A  the date the listing agreement is signed.

B  due before the payoff demand statement.

C  the date the documents are recorded.

D  always on the first day of the month.

A  None of the answers are correct

B  Jones v. Mayer

C  Easton v. Strassburger

D  Huber v. the State of California

A  the adjusted interest rate

B  the fully indexed interest rate

C  the effective interest rate.

D  the nominal interest rate.

A  Corner lot

B  Interior lot

C  Curb lot

D  Key lot

A  Grant deeds contain implied warranties.

B  It is considered executed when signed by the grantor.

C  It is signed only by the grantee.

D  The key word is “grant.”

A  cease and desist order.

B  notice of non-responsibility.

C  mechanic’s lien.

D  unlawful detainer action.

A  tenancy at sufferance.

B  tenancy for years.

C  periodic tenancy.

D  tenancy at will.

A  38,416

B  38,304

C  41,560

D  43,560

A  Safety Clause

B  End of Listing Clause

C  Broker Entitlement Clause

D  Broker Entitlement Clause and End of Listing Clause

A  condos.

B  houses.

C  vacant land.

D  houses, condos and vacant land.

A  VA.

B  FHA.

C  CalVet Program.

D  California VFW Program.

A  Mutual consent

B  Capacity

C  Cash

D  Proper writing

A  Names of parties

B  Length of lease

C  Length of lease, Amount of rent, and Names of parties

D  Amount of rent

A  ALTA policy

B  CLTA policy

C  RESPA policy

D  None of the above

A  Only with the permission of the buyer

B  Never

C  Always

D  Only during non-business days

A  buyer’s market.

B  deflationary market.

C  seller’s market.

D  lender’s market.

A  Federal Civil Rights Act of 1968.

B  Fair Employment and Housing Act.

C  Americans With Disabilities Act

D  Unruh Civil Rights Act.

A  Economic considerations

B  Physical considerations

C  Past sales considerations

D  Social considerations

A  land and structures on the land.

B  anything incidental to the land.

C  land and structures on the land, anything incidental and appurtenant to the land

D  anything appurtenant to the land.

A  conversion.

B  commingling.

C  divided agency.

D  false promise.

A  notary public.

B  librarian.

C  document doctor.

D  administrator.

A  infractions.

B  federal felonies.

C  misdemeanors.

D  none of the above.

A  $7,000

B  $2,000

C  $1,000

D  $200

A  500 sq. ft.

B  5,000 sq. ft.

C  50,000 sq. ft.

D  2,500 sq. ft.

A  31

B  29

C  28

D  30

A  proprietary.

B  valid.

C  illusory.

D  proprietary and illusory

A  the Bureau of Real Estate.

B  private parties.

C  government agencies.

D  none of the above.