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 None of the answers are correct.

B National Hazard Disclosure.

C Disclosure Regarding Agency Relationship.

D Statewide Buyers and Seller Advisory.

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 Penalty Clause

B Safety Clause

C Restrictive Clause

D Termination Clause

Question #3

Real estate laws in California apply to:

A commercial property.

B all answers are correct.

C 1- to 4-unit residential property.

D vacant land.

Question #4

The steps of agency disclosure include:

A elect.

B disclose.

C all answers are correct.

D confirm.

Question #5

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

A unlicensed agent.

B licensed agent.

C principal broker.

D broker associate.

Question #6

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

A All answers are correct

B Wire Fraud and Electronic Funds Transfer Advisory

C Sellers Advisory

D Disclosure Regarding Real Estate Agency Relationship

Question #7

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

A surrender

B lease termination

C abandonment

D forbearance

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 3-day notice to pay rent or quit

B eviction notice

C court order

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 security deposit

B goodwill

C vacating fee

D trust account

Question #10

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

A dues

B booty

C fees

D rent

Question #11

Minimum requirements of a lease include which of the following:

A all answers are correct.

B description of property

C amount of rent

D length or duration of the lease

Question #12

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

A Hostage possession

B Estate at sufferance

C Reversionary right

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 three-day notice to pay

B lawsuit

C unlawful detainer

D eviction

Question #14

Which of the following can discharge a contract?

A Impossibility of performance

B Operation of law

C Full 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 consideration

B a deposit

C a gift

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 bilateral contract

B unilateral contract

C implied contract

D void 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 privilege

B express contract

C stealing

D implied contract

Question #18

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

A minor

B incompetent

C loony

D incapacitated youth

Question #19

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

A voidable and void

B void

C valid

D valid, voidable, and void

Question #20

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

A being declared self-supporting by the courts

B reaching the age of 16 years old

C being a member of the armed forces

D marrying

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 puffing

B lying

C fraud

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 reasonable skill and care

B honesty, loyalty, integrity

C good faith and fair dealing

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 power of attorney

C employment contract

D agency

Question #26

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

A joint account

B commingling

C trust account

D mixed funding

Question #27

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

A independent contractor

B employee

C subagent

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 open listing

B free-for-all

C general property listing

D non-exclusive listing

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 an encroachment

C prescriptive use

D wrongful use

Question #30

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

A multi-parcel lien

B blanket encumbrance

C tax lien

D none of the above

Question #31

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

A government restrictions

B zoning

C code enforcement

D regulations

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 voluntary lien

B unpaid lien

C mechanic’s lien

D security lien

Question #33

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

A all answers are correct.

B 5 years continuous use

C open and notorious use

D hostile 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 abutting

B Easement appurtenant

C Easement non-encumbering

D Easement approximate

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 I.O.U.

C grant deed

D lien

Question #36

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

A issue a 3-day pay and quit notice

B file a mechanic’s lien against the tenant

C terminate the tenancy

D post a Notice of Non-Responsibility on the property

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 community goods

B community property

C combined property

D inheritances

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 joint tenancy

B unity in possession

C a limited partnership

D corporate interests

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 is terminated

D The lease can be renegotiated

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 estate

B equity share

C lease

D ownership

Question #43

Anything permanently attached or affixed to the land is called:

A personal property

B fixtures

C real Property

D attachments

Question #44

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

A Sustainability

B Enjoyment

C Disposition

D Possession

Question #45

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

A 2

B 3

C 1

D 4

Question #46

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

A Invoice

B Bill of Sale

C Transfer document

D Bill of Lading

Question #47

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

A perimeter

B township

C acre

D hectare

Question #48

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

A levels

B streets

C tiers

D sections

Question #49

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

A permitted items

B enhancements

C improvements

D incorporated 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 furniture

B fixtures

C attachments

D incorporated items

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