Midterm Exam

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Question #1

The disclosure that reminds buyers and sellers of the importance of investigating a property before the sale is known as the:

A Disclosure Regarding Agency Relationship.

B Statewide Buyers and Seller Advisory.

C National Hazard Disclosure.

D None of the answers are correct.

Question #2

What’s included in the Residential Listing Agreement (RLA) that may allow a broker to collect a commission even after the termination of the listing?

A Restrictive Clause

B Safety Clause

C Termination Clause

D Penalty Clause

Question #3

Real estate laws in California apply to:

A vacant land.

B all answers are correct.

C commercial property.

D 1- to 4-unit residential property.

Question #4

The steps of agency disclosure include:

A elect.

B confirm.

C all answers are correct.

D disclose.

Question #5

A licensed real estate broker working in the capacity of a salesperson for another broker or corporation is known as a:

A licensed agent.

B broker associate.

C unlicensed agent.

D principal broker.

Question #6

Which of the following forms are included in CAR’s® “Listing Package”?

A Disclosure Regarding Real Estate Agency Relationship

B Wire Fraud and Electronic Funds Transfer Advisory

C Sellers Advisory

D All answers are correct

Question #7

If tenant just moves out or vacates the premises without formal surrender and never returns, it is called:

A abandonment

B forbearance

C lease termination

D surrender

Question #8

A legal document that informs the tenant that he/she has three straight days to pay all past due rent, vacate the premises, or face an unlawful detainer court action is known as a(n):

A court order

B eviction notice

C 3-day notice to pay rent or quit

D none of the above

Question #9

Providing the landlord with funds to pay for damages or unpaid rent when the tenant vacates is called a(n):

A trust account

B vacating fee

C security deposit

D goodwill

Question #10

The amount of money paid for the use of a property is known as:

A fees

B dues

C booty

D rent

Question #11

Minimum requirements of a lease include which of the following:

A all answers are correct.

B length or duration of the lease

C amount of rent

D description of property

Question #12

If a tenant does NOT leave after expiration of the lease and retains possession, what has occurred?

A Estate at sufferance

B Reversionary right

C Hostage possession

D None of the above

Question #13

The legal process of removing a tenant because there is a breach of the lease or rental agreement is called a(n):

A unlawful detainer

B three-day notice to pay

C lawsuit

D eviction

Question #14

Which of the following can discharge a contract?

A Full performance

B Operation of law

C Impossibility of performance

D all answers are correct.

Question #15

In a contract, anything of value given by one party to another party to make the agreement binding is known as:

A a gift

B consideration

C a deposit

D none of the above

Question #16

You promise to pay a painter $2,000 to paint your house and the painter agrees to do it. What type of contract is formed?

A void contract

B unilateral contract

C bilateral contract

D implied contract

Question #17

You enter the coffee shop next door where you have an account, pour yourself a cup of coffee, hold it up to show the manager and wave as you leave the store. This would be an example of a(n):

A implied contract

B express contract

C privilege

D stealing

Question #18

A person who is judged to be of unsound mind is known as a(n):

A incompetent

B incapacitated youth

C minor

D loony

Question #19

Some of the ways in which contracts may be classified include:

A voidable and void

B valid, voidable, and void

C valid

D void

Question #20

Which of the following is NOT a method of becoming an emancipated minor:

A marrying

B reaching the age of 16 years old

C being declared self-supporting by the courts

D being a member of the armed forces

Question #21

When a person misrepresents a material fact, knowing that it is not true, or is carelessly indifferent to the truth of the stated facts, it is known as:

A lying

B fraud

C puffing

D none of the above

Question #22

The person who hires or employs an agent to work for him or her is known as:

A third party

B contractor

C principal

D employer

Question #23

A Fiduciary relationship requires which of the following with the principal:

A good faith and fair dealing

B honesty, loyalty, integrity

C reasonable skill and care

D none of the above

Question #24

A required form, provided by the seller, which identifies items of value attached to the structure or land and states whether these items are operational is called a(n):

A transfer disclosure statement

B list of items working

C operational form

D none of the above

Question #25

A contract to employ a broker as an agent, to do certain things for the seller is known as a(n):

A listing

B agency

C employment contract

D power of attorney

Question #26

Mixing the funds of a principal and a licensee is known as:

A commingling

B mixed funding

C joint account

D trust account

Question #27

A person who works under the direct control and supervision of the employer is known as a(n):

A subagent

B employee

C independent contractor

D all of the above

Question #28

An authorization to sell a property which may be given to several brokers, or the property may be sold by the owner is called:

A non-exclusive listing

B open listing

C general property listing

D free-for-all

Question #29

A wrongful unauthorized placement of improvements or permanent fixtures on a property by a non-owner of that property is called:

A zoning ordinance

B prescriptive use

C wrongful use

D an encroachment

Question #30

A voluntary lien, for money owed, placed over more than one parcel is called a(n):

A blanket encumbrance

B tax lien

C multi-parcel lien

D none of the above

Question #31

The restriction on the use of private property by the local government agency is called:

A regulations

B zoning

C code enforcement

D government restrictions

Question #32

A lien filed against a property by a person who was not paid after furnishing labor or materials for construction work on that property is called a(n):

A security lien

B mechanic’s lien

C voluntary lien

D unpaid lien

Question #33

An Easement by Prescription requires which of the following to be valid:

A open and notorious use

B all answers are correct.

C hostile use

D 5 years continuous use

Question #34

An easement that is “created for and beneficial to” the owner of adjoining or attached lands is which type of easement?

A Easement appurtenant

B Easement non-encumbering

C Easement approximate

D Easement abutting

Question #35

A document that uses a property to secure the payment of a debt or the discharge of an obligation is called a (n):

A tax Assessment

B lien

C I.O.U.

D grant deed

Question #36

When a landlord discovers that work is being done on the property without the landlord’s consent, he should:

A post a Notice of Non-Responsibility on the property

B issue a 3-day pay and quit notice

C terminate the tenancy

D file a mechanic’s lien against the tenant

Question #37

The two major types of freehold estates are:

A life and remainder

B fee simple and life estate

C remainder and reversion

D fee simple and defeasible

Question #38

All property acquired by a husband and wife during their marriage other than separate property is called:

A inheritances

B community property

C community goods

D combined property

Question #39

When two or more people have identical interests in the whole property with the same right of possession and the right of survivorship, this is called:

A a limited partnership

B corporate interests

C joint tenancy

D unity in possession

Question #40

A signed or verbal statement by the named person that he/she has signed that document of his/her own free will is known as:

A acknowledgment

B recording

C actual notice

D verification

Question #41

Susie owns a life estate based upon her own life. She leases the property to a tenant on a three-year lease. Susie, the life tenant, dies two years later. What happens to the lease?

A The lease remains intact

B The lease is automatically renewed

C The lease can be renegotiated

D The lease is terminated

Question #42

An interest, share, right or equity in real estate that varies from the minimal right of a renter to the maximum right of full owner is called a(n):

A ownership

B estate

C lease

D equity share

Question #43

Anything permanently attached or affixed to the land is called:

A real Property

B personal property

C fixtures

D attachments

Question #44

Which of the following is NOT a basic right of ownership included in the “Bundle of Rights”?

A Enjoyment

B Disposition

C Sustainability

D Possession

Question #45

How many principal base and meridian line intersections does California have?

A 1

B 2

C 4

D 3

Question #46

Which of the following can transfer ownership of trade fixtures and personal property?

A Invoice

B Bill of Lading

C Transfer document

D Bill of Sale

Question #47

An area of land that contains 43,560 square feet is called a(n):

A township

B acre

C hectare

D perimeter

Question #48

Township lines divide the land into a series of east-west strips called:

A sections

B streets

C tiers

D levels

Question #49

Anything attached to the land, such as buildings, fences, walls, walks and shrubs, are called:

A enhancements

B improvements

C incorporated items

D permitted items

Question #50

Items of personal property that are attached to, or incorporated into, the land in such a manner as to become real property are called:

A attachments

B incorporated items

C furniture

D fixtures

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Fresh Grad Lands Job as Real Estate Agent With Help from Professional Writers

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