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Below are the questions for the exam with the choices of answers:
Question #1
A 18
B 20
C 19
D 21
Question #2
A Performs a CMA for an acquaintance and provides advice on setting a listing price based on other comparable properties in the area
B Contacts a mortgage broker to find out what first-time homebuyer programs are available
C Gives her neighbor a tour of another neighborhood home that’s on the market
D Speaks to a local civic club about the homebuying process
Question #3
A One acre
B 640 acres
C 640 square feet
D 640 miles
Question #4
A At loan application or within three days after loan application
B Prior to loan application
C Prior to or within three days after the loan application
D Prior to or within 10 days after the loan application
Question #5
A Fiona wants to demonstrate how viable her business is.
B Fiona wants to reduce her base rent.
C Fiona is hoping to purchase the building at a later date.
D The landlord is her business partner.
Question #6
A The primary market packages loans to sell to the secondary market.
B The secondary market regulates the primary market.
C The primary market regulates the secondary market.
D The secondary market packages loans to sell to the primary market.
Question #7
A Agency disclosure is required for buyers and sellers, but not tenants or landlords.
B Agency disclosure is not required if a licensee represents both the tenant and the landlord.
C Agency disclosure is required for both landlords and tenants.
D A rental agent only has “agency” with landlords, so only landlords must be provided with the disclosure.
Question #8
A It causes dementia if levels of exposure are high.
B It causes a skin rash.
C It causes premature birth.
D It can cause serious lung disease and cancer.
Question #9
A An east-west line used as a reference point in the rectangular government survey system
B The center-most section identified in the rectangular government survey system
C The center-most township identified in the rectangular government survey system
D A north-south line used as a reference point in the rectangular government survey system
Question #10
A The property must be at least five acres.
B The property can be a primary or secondary residence.
C The property must be located in California.
D The property can be a mobile or manufactured home.
Question #11
A Covenant
B Easement
C Grant
D License
Question #12
A Area preference
B Improvements
C Permanence
D Scarcity
Question #13
A Putting the client’s interest first
B Never questioning a client’s opinion
C Carrying out a client’s instructions without question
D Keeping a client’s confidential information confidential
Question #14
A Alienation
B Acceleration
C Defeasance
D Due-on-sale
Question #15
A Method of annexation
B Intention in placing item on land
C Agreement of the parties
D Adaptability of the item to the land’s use
Question #16
A A middle point between the two numbers
B A weighted average based on the sales price, appraisal amount, and recent sales
C The smaller number
D The larger number, as a buyer has already been found
Question #17
A A lawsuit filed by a tenant when the security deposit is withheld unlawfully.
B A lawsuit filed by a landlord against a holdover tenant.
C A lawsuit filed by a landlord to regain possession of an improvement to property.
D A lawsuit filed by a rental agent when the commission is not paid.
Question #18
A When a party meets all terms of the contract
B When a party rejects all terms of the contract
C When a party acknowledges receipt of the contract
D When a party does some, but not all, of what the party has agreed to do
Question #19
A Created by law and gives right of possession
B A mortgage
C A judgment lien
D Created by a court of common law; doesn’t give the right to possession of the property
Question #20
A Legal descriptions of both properties
B Testimony from long-time neighbors
C Affidavit from surveyor
D Aerial photographs
Question #21
A Nine square feet
B 10 square feet
C Three square feet
D Six square feet
Question #22
A An increase in the number of retirees in a given population would positively impact the demand for large, single-family homes.
B An influx of higher wage earners to a given area would decrease the demand for higher-priced housing.
C An influx of higher wage earners to a given area would create a price decrease for lower-valued homes.
D An increase in the number of retirees in a given population would negatively impact the demand for large, single-family homes.
Question #23
A Fee simple
B Tenancy at will
C Fee absolute
D Qualified fee
Question #24
A Someone who uses or purchases a product or service
B Someone who’s hired to act on behalf of a client
C Someone who is involved in a transaction but represents neither party
D Someone who’s in a position of trust and loyalty
Question #25
A Tenuous
B Ill-advised
C Mutual
D Unlawful
Question #26
A Explain to the buyer why it’s unnecessary to have a professional inspection done on a new home
B Review transaction documents with the buyer, clarifying anything that could be confusing, without stepping outside the scope of your license
C Show properties the buyer might qualify for if he would put down more earnest money
D Coach the buyer on how to negotiate the terms of the sales contract to be completely in the buyer’s favor
Question #27
A On a government-issued form
B Payable at an indefinite time
C Signed
D Include a “not to exceed” clause
Question #28
A Conservator
B Buyer’s agent
C Listing agent
D Escrow officer
Question #29
A Demand
B Scarcity
C Utility
D Transferability
Question #30
A The Equal Credit Opportunity Act
B Real Estate Settlement Procedures Act
C ECOLA
D The Community Reinvestment Act
Question #31
A General agent
B Single agent
C Universal agent
D Limited agent
Question #32
A Too heavy
B The wrong color for her new house
C A fixture
D An improvement
Question #33
A The building plan
B A survey
C A blueprint
D A written narrative of the building plan
Question #34
A Stock cooperative project
B Condominium project
C Planned development
D Time-share
Question #35
A he former client has moved out-of-state.
B the transaction has closed.
C it will help another client.
D the former client is found guilty of fraud.
Question #36
A Truth in Lending Act
B RESPA
C Community Reinvestment Act
D Equal Credit Opportunity Act
Question #37
A Conveyance
B Clairvoyance
C Covenant
D Contract
Question #38
A 30 years old
B 20 years old
C 25 years old
D 15 years old
Question #39
A 14.51%
B 18.96%
C 25.58%
D 19.58%
Question #40
A Must report this to California DRE only if the charge is related to theft
B Must not report this; as it would be a violation of confidential information
C Must report this to California DRE under all circumstances
D Need not report this to California DRE because it is not a guilty verdict
Question #41
A Reasonable skill and care
B Disclosure
C Confidentiality
D Obedience
Question #42
A $1,126.25
B $1,093.13
C $901
D $874.50
Question #43
A Bulk
B Aesthetic
C Moratorium
D Rural
Question #44
A Micah may receive a slap on the wrist from his broker, and be told to shape up or ship out.
B Micah’s commission may be at risk.
C Micah may be forced to send the client a written apology.
D Micah may lose the client’s business.
Question #45
A $3,113.46
B $604.95
C $1,997.62
D $792.54
Question #46
A The agreement terminates by force of law.
B The client can revoke the agreement but may be considered in breach of contract.
C Jenson and Susan can mutually agree to terminate the agreement.
D It’s terminated once the specified term in the agency agreement expires.
Question #47
A $2,450
B $2,400
C $3,200
D $2,475
Question #48
A Functional obsolescence
B None. Depreciation doesn’t apply to new buildings.
C Physical depreciation
D External depreciation
Question #49
A A potential bonus from the buyer
B Implied agency and undisclosed dual agency
C Implied friendship
D Undisclosed single agency
Question #50
A No, agency disclosure is only required on leases exceeding one year.
B No, Damian does not provide the agency disclosure to his client. He only provides it to others involved in the transaction.
C Yes, agency disclosure is required on sales of residential properties with one to four units.
D No, agency disclosure is not required on sales of residential properties with one to four units.
Question #51
A File a lis pendens claim at the court before buying the property.
B Ensure the seller’s name is on the deed.
C File a security agreement at the county clerk’s office.
D Purchase title insurance.
Question #52
A Negotiating for the seller
B Representing the buyer’s interests
C Reviewing transactional documents with the seller
D Advocating for the seller
Question #53
A Dedicate a certain percentage of the land to the state of California
B Attain a surety bond and furnish it to the state of California for one-and-a-half times the amount of any deposit monies.
C Sign an affidavit of proforma
D They must have a disclaimer that the property has not been examined the BRE on all marketing and sales materials.
Question #54
A Civil Rights Act of 1968
B Civil Rights Act of 1866
C Housing and Community Development Act of 1974
D Equal Credit Opportunity Act of 1974
Question #55
A 640
B 1,760
C 43,560
D 5,280
Question #56
A 27.5 years
B 39 years
C Indefinitely
D Zero years (commercial properties cannot be depreciated)
Question #57
A Percentage lease
B Gross lease
C Net lease
D Sublease
Question #58
A The seller should assume the crop does not transfer with the property.
B The contract between the parties should clarify the disposition of the crop.
C The buyer should assume the crop transfers with the property.
D The seller should harvest the beans before the sale closes.
Question #59
A $43,560
B $21,780
C $500
D $5,000
Question #60
A Downzoning
B Spot zoning
C Aesthetic zoning
D Incentive zoning
Question #61
A Margo tells her seller client Troy that his property is worth less than it really is so he will get a quick sale.
B Michael submits all offers he receives on Jarrod’s property.
C Steven postponed his vacation so he could attend his seller client’s closing.
D Tanaka refuses to encourage his seller client to lower his asking price.
Question #62
A 9%
B 12.50%
C 7.50%
D 8%
Question #63
A A payment of more than $10,000
B Earnest money paid with a cashier’s check or wire transfer
C A payment of less than $10,000
D Gifting a house to a family member
Question #64
A No, agency disclosure is only required on sales of residential properties.
B No, agency disclosure is only required for commercial transactions.
C Yes, agency disclosure is required for lease transactions.
D No, agency disclosure is not required for residential transactions involving five or more units.
Question #65
A Compensation
B Sympathy
C Notice
D Alternative living arrangements
Question #66
A $462
B $231
C $2,310
D $4,620
Question #67
A Nothing. There is no defense against unpaid subcontractors.
B Require the contractor obtain a payment bond.
C File a lien release.
D File a notice of completion.
Question #68
A Property partnership
B Co-ownership
C Dual ownership
D Estate by severalty
Question #69
A A notice that notifies potential buyers of a pending lease
B A public listing and notice of foreclosure of a property.
C A legal term that means “it depends” and requires a certain minimum sales price of the property.
D A legal notice that a lawsuit is pending that affects the title of a property
Question #70
A The date it is recorded
B The date the lien is to be paid off
C The amount of the lien
D The lien holder
Question #71
A Lis pendens
B Foreclosure action
C Mortgage lien
D Judgment lien
Question #72
A $1,064.7
B $1,050
C $,1055
D $1,069.77
Question #73
A Conveyance and concession
B Clairvoyance and contract
C Conveyance and contract
D Concession and contract
Question #74
A Integrated planning
B Traditional planning
C Pocket planning
D Form-based planning
Question #75
A VOCs
B BPA
C Natural scents
D PCBs
Question #76
A Mobilehome Rent Law
B RV Park Occupancy Law
C Mobilehome Landlord-Tenant Relations
D Mobilehome Residency Law
Question #77
A Conformity
B Substitution
C Contribution
D Anticipation
Question #78
A Tom is holding an open house for his client. Ruby, a buyer, says she wants to make an offer.
B Levi’s customer, Renee, wants to make an offer on Levi’s seller client’s home. Levi presents Renee’s offer to his client.
C Kady’s firm uses representation agreements that, when signed, provide consent to dual licensee dual agency. Kady’s buyer makes an offer on one of Kady’s colleague’s listings.
D Jarrod represents the seller, Juan. A buyer, Alaina, approaches Jarrod about representing her in the purchase of Juan’s house. Jarrod obtains Juan and Alaina’s consent to dual agency.
Question #79
A They’re recorded at the recorder’s office in the county where the property is located.
B Mortgages are not recorded; only deeds are.
C They’re recorded at the real estate brokerage’s main office.
D They’re recorded at the lending bank’s main office.
Question #80
A The higher the score, the higher the credit risk
B Each company a uses a slightly different scoring system
C Each company posts the borrower’s FICO® Score
D Scoring is consistent across the three companies
Question #81
A The property will never sell.
B The property may float away.
C Flood insurance may be required.
D Lenders will not approve a loan.
Question #82
A Her bank foreclosed on the loan.
B Her bank sold it on the secondary market as an investment product.
C She sold the loan on the primary market for a lower interest rate.
D She received another loan on the secondary market when her bank demanded full payment.
Question #83
A Move the decimal point right two spots and add a percent symbol.
B Divide the smaller number by the larger number.
C Move the decimal point two places to the left and remove the percent symbol.
D Divide the top number by the bottom number.
Question #84
A Dual-licensee dual agency
B Seller agency
C Single-licensee dual agency
D Buyer agency
Question #85
A It doesn’t allow people to own land unless they can afford it.
B It states that all real property sales must involve lawyers.
C It provides requirements that contracts have to meet to be legally enforceable.
D It puts a limit on how much interest financial institutions can charge.
Question #86
A The asset is worth more because of capital improvements.
B Investors can take a business deduction for annual depreciation.
C The owner/investor is making less income from the property than previously.
D The asset is worth less because the economy took a downturn.
Question #87
A Earnest money
B Attorney review
C Profit
D Consideration
Question #88
A It’s still valid; Rex’s family must abide by it.
B The listing agreement is terminated by force of law.
C Rex’s agent can continue to market the property, but Rex’s family must approve the sale.
D The listing is temporarily on hold until a court gives permission to invalidate it or until the listing expires.
Question #89
A The resident of the adjoining property to whom Elizabeth has given permission to store some items in her gardening shed
B The owner of the empty lot down the street that Elizabeth uses as a vegetable garden with the owner’s permission
C The neighbor who constructed his new backyard fence six inches across Elizabeth’s property line
D The utility company that needs to access the power line that crosses a corner of Elizabeth’s land
Question #90
A Reliction
B Dedication
C Alienation
D Accession
Question #91
A Neither the buyer nor seller
B Both the buyer and seller
C The seller
D The buyer
Question #92
A None of these facts may be shared with the buyer if you are the seller’s agent.
B The seller is willing to take less than the asking price.
C The roof leaks when it rains.
D The seller is in a hurry to move because his wife is seven months pregnant.
Question #93
A The SPEECH Act
B The First Amendment
C The Freedom of Information Act
D The Sarbanes-Oxley Act
Question #94
A National Association of Appraisers (NAA) bylaws
B Real estate license law
C NAR Code of Ethics
D Uniform Standards of Professional Appraisal Practice (USPAP)
Question #95
A Grantor
B Notary public
C Witness
D Grantee
Question #96
A Values real property in California
B Determines real estate policy and issues regulations to enforce law
C Issues real estate licenses
D Discusses real estate policy and makes recommendations to the Commissioner
Question #97
A A second mortgage
B Whether his uncle would like this
C Whether he will incur a prepayment penalty
D The state of his local housing market
Question #98
A Resolve to not try to pay the loan off early.
B Laugh and throw the Loan Estimate in the trash.
C Check with his real estate agent to make sure that the penalty shown is typical.
D Ask the lender if there are other options available that would not involve a prepayment penalty.
Question #99
A Void
B Voidable
C Valid
D Fraud
Question #100
A Receive payment for managing real estate.
B Negotiate the sale of a house for two friends and receive a tip as thanks.
C Give advice to a friend who is negotiating the purchase of a house.
D List a friend or family member’s home for sale for a fee.