Final Exam

A  fraudulent misrepresentation.

B  innocent misrepresentation.

C  negligent misrepresentation.

D  malicious misrepresentation.

A  lines of demarcation.

B  longitude and latitude lines.

C  base lines and meridian lines.

D  lines of metes and bounds.

A  A handyman working regularly for a property management firm.

B  Janitorial staff for a real estate sales office.

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

D  A receptionist in a real estate sales office.

A  make funds available for residential loans in distressed areas.

B  subsidize rents for low income renters.

C  help minority buyers obtain financing for new home purchases.

A  21 calendar days

B  15 days

C  45 calendar days

D  20 days

A  buys back bonds.

B  lowers the reserve requirements of banks.

C  lowers the discount rate.

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

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  redistricting.

B  redlining

C  gerrymandering.

D  targeting.

A  10-day termination notice.

B  20-day termination notice.

C  30-day termination notice.

D  15-day termination notice.

A  sill.

B  flashing.

C  ridge board.

D  joist.

A  160

B  0.05

C  320

D  Zero

A  three years.

B  four years.

C  five years.

D  two years.

A  Estate at will

B  Estate for years

C  Estate at sufferance

D  Estate from period-to-period

A  functional depreciation.

B  functional obsolescence.

C  economic obsolescence.

D  none of the above.

A  $3,000,000

B  $10,000,000

C  $5,000,000 and $3,000,000

D  $5,000,000

A  none of the answers are correct

B  foundation condition inspection

C  structural damage inspection

D  termite inspection

A  Title insurance

B  Interest

C  Property taxes

D  Rents

A  attached.

B  encumbered.

C  restricted.

D  restricted and encumbered

A  Escrow Assistant

B  Broker Assistant

C  Process Administrator

D  Transaction Coordinator

A  It is a result of off property causes

B  It is due to changes in the neighborhood

C  It is due to wear and tear

D  It is incurable

A  Intention

B  Date of purchase

C  Agreement

D  Adaptability

A  express contract.

B  express contract and mutual consent.

C  mutual consent.

D  implied contract.

A  are municipal bonds.

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

C  require a seller and/or salesperson to disclose.

D  usually fund street improvements.

A  a restricted fee estate.

B  an imperfect fee estate.

C  a fee simple defeasible estate

D  none of the above.

A  pension funds.

B  mutual savings banks.

C  any of the above.

D  mortgage bankers.

A  Landscaping

B  Roofing

C  Plumbing

D  Landscaping, Roofing and Plumbing

A  incurable.

B  loss in value from any cause.

C  curable.

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

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

B  Disclosure Regarding Real Estate Agency Relationship

C  Wire Fraud and Electronic Funds Transfer Advisory

D  Buyer’s Inspection Advisory

A  Seller

B  Buyer

C  Vendee

D  Broker

A  Bilateral contract

B  Exclusive

C  Illegal in California

D  Nonexclusive

A  Unlawful Detainer.

B  Curb Summons.

C  Writ of Possession.

D  Three-Day Notice to Pay.

A  February 1

B  November 1

C  November 1, December 10 and February 1

D  December 10

A  435

B  43,560

C  100,000

D  345

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

B  Requires 70% correct score to pass

C  Lasts three hours and fifteen minutes

D  150 multiple-choice questions

A  California Land Title Association.

B  California Landlord Tenant Association.

C  California Land Tax Association.

D  Community Lease Transaction Account.

A  Federal Civil Rights Act.

B  Rumford Act.

C  Unruh Civil Rights Act.

D  none of the above.

A  lender.

B  third party.

C  escrow.

D  borrower’s spouse.

A  unearned increment.

B  kiosk.

C  conduit.

D  turnkey.

A  estate in reversion.

B  estate for years.

C  life estate.

D  estate in remainder.

A  Progressive

B  Marginal

C  Static

D  Regressive

A  Mechanic’s lien and Tax assessment

B  Mechanic’s lien

C  Tax assessment

D  Trust deed

A  description of the property.

B  names of the parties.

C  length of the lease.

D  words “let or demise.”

A  Wire Fraud and Electronic Funds Transfer Advisory

B  Disclosure Regarding Real Estate Agency Relationship

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

D  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

A  agent.

B  third party.

C  buyer.

D  principal.

A  for properties that generate income.

B  at finding similar comparable properties.

C  with new, unique, or public buildings.

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

A  real estate investment trust.

B  real estate investment transfer.

C  real equity interest trust.

D  residential encouragement involving trusts.

A  must have court approval to contract.

B  is of unsound mind.

C  cannot individually contract.

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

A  doubled.

B  refunded in full.

C  prorated in escrow.

D  forfeited.

A  stated on the note.

B  compounded daily.

C  the effective interest rate.

D  a guarantee of negative amortization.

A  the broker or seller dies.

B  the agency agreement expires.

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

D  the property is destroyed.

A  Mortgage companies, Credit unions, and Private lenders

B  Mortgage companies

C  Private lenders

D  Credit unions

A  block busting.

B  steering.

C  redlining.

D  poor taste.

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

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

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

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

A  San Bernardino Base Line and Meridian

B  Mt. Diablo Base Line and Meridian

C  Humboldt Base Line and Meridian

D  Baja Base Line and Meridian

A  actual notice.

B  deed.

C  verification.

D  none of the above.

A  just noted on the appraisal but nothing is done.

B  added to the sales price of the comparable.

C  subtracted from the sales price of the comparable.

D  none of the above.

A  title insurance.

B  coinsurance clause.

C  preliminary title report.

D  none of the above.

A  by registered mail, personally, and in writing

B  by registered mail.

C  personally.

D  in writing.

A  covenants, conditions, and restrictions.

B  construction, conditions, and restrictions.

C  conditions, control, and residuals.

D  covenants, communities, and residents.

A  string of title.

B  title plant.

C  title provenance.

D  chain of title.

A  chronological age of the improvements.

B  physical life remaining in the improvements.

C  economic life remaining in the improvements.

D  none of the above.

A  perfectrealtor.com and lowcommission.com

B  None of the answers are correct

C  homealong.com and buymyhouse.com

D  realtor.com and zillow.com

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

B  a copy of the most recent financial statement.

C  the bylaws.

D  the CC&Rs.

A  Minors

B  Incompetents

C  Foreign persons (aliens)

D  Convicts

A  60%

B  80%

C  70%

D  90%

A  life estate.

B  less-than-freehold estate.

C  estate in remainder.

D  estate in waiting.

A  full lien.

B  multi-tract lien.

C  blanket encumbrance.

D  none of the above.

A  energy efficiency (the higher the better).

B  water purity.

C  water pressure.

D  credit rating.

A  Statewide Buyer and Sellery Advisory

B  Natural Hazard Disclosure Statement

C  Residential Listing Agreement

D  None of the answers are correct

A  They are easily transferable from one person to another.

B  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.

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

D  Promissory notes are considered negotiable instruments.

A  seller is not the legal owner.

B  broker is not licensed .

C  owner refuses to sell to the buyer.

D  buyer is legally incompetent.

A  real property.

B  personal property.

C  private property.

D  none of the above.

A  replaces a court of law.

B  enforces the Real Estate Law.

C  gives legal advice.

D  replaces a court of law and gives legal advice.

A  always on the first day of the month.

B  the date the documents are recorded.

C  due before the payoff demand statement.

D  the date the listing agreement is signed.

A  Huber v. the State of California

B  Jones v. Mayer

C  None of the answers are correct

D  Easton v. Strassburger

A  the effective interest rate.

B  the nominal interest rate.

C  the adjusted interest rate

D  the fully indexed interest rate

A  Interior lot

B  Key lot

C  Corner lot

D  Curb lot

A  It is signed only by the grantee.

B  Grant deeds contain implied warranties.

C  The key word is “grant.”

D  It is considered executed when signed by the grantor.

A  unlawful detainer action.

B  notice of non-responsibility.

C  mechanic’s lien.

D  cease and desist order.

A  tenancy at sufferance.

B  tenancy at will.

C  tenancy for years.

D  periodic tenancy.

A  43,560

B  38,416

C  41,560

D  38,304

A  Broker Entitlement Clause

B  Safety Clause

C  End of Listing Clause

D  Broker Entitlement Clause and End of Listing Clause

A  houses.

B  vacant land.

C  condos.

D  houses, condos and vacant land.

A  FHA.

B  California VFW Program.

C  CalVet Program.

D  VA.

A  Proper writing

B  Capacity

C  Cash

D  Mutual consent

A  Names of parties

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

C  Length of lease

D  Amount of rent

A  CLTA policy

B  RESPA policy

C  ALTA 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  seller’s market.

B  buyer’s market.

C  deflationary market.

D  lender’s market.

A  Fair Employment and Housing Act.

B  Americans With Disabilities Act

C  Federal Civil Rights Act of 1968.

D  Unruh Civil Rights Act.

A  Social considerations

B  Past sales considerations

C  Economic considerations

D  Physical considerations

A  land and structures on the land.

B  anything appurtenant to the land.

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

D  anything incidental to the land.

A  false promise.

B  divided agency.

C  commingling.

D  conversion.

A  document doctor.

B  notary public.

C  librarian.

D  administrator.

A  misdemeanors.

B  federal felonies.

C  infractions.

D  none of the above.

A  $200

B  $7,000

C  $2,000

D  $1,000

A  500 sq. ft.

B  5,000 sq. ft.

C  2,500 sq. ft.

D  50,000 sq. ft.

A  28

B  29

C  31

D  30

A  illusory.

B  proprietary and illusory

C  proprietary.

D  valid.

A  the Bureau of Real Estate.

B  government agencies.

C  private parties.

D  none of the above.