Final Exam

A  innocent misrepresentation.

B  fraudulent misrepresentation.

C  malicious misrepresentation.

D  negligent misrepresentation.

A  lines of demarcation.

B  base lines and meridian lines.

C  lines of metes and bounds.

D  longitude and latitude lines.

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  make funds available for residential loans in distressed areas.

C  help minority buyers obtain financing for new home purchases.

A  45 calendar days

B  15 days

C  20 days

D  21 calendar days

A  buys back bonds.

B  lowers the reserve requirements of banks.

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

D  lowers the discount rate.

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

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

C  cannot show or rent vacant units.

D  None of the above.

A  gerrymandering.

B  targeting.

C  redlining

D  redistricting.

A  20-day termination notice.

B  30-day termination notice.

C  10-day termination notice.

D  15-day termination notice.

A  sill.

B  flashing.

C  joist.

D  ridge board.

A  160

B  Zero

C  320

D  0.05

A  five years.

B  three years.

C  four years.

D  two years.

A  Estate from period-to-period

B  Estate at sufferance

C  Estate for years

D  Estate at will

A  economic obsolescence.

B  functional obsolescence.

C  functional depreciation.

D  none of the above.

A  $5,000,000 and $3,000,000

B  $5,000,000

C  $3,000,000

D  $10,000,000

A  foundation condition inspection

B  structural damage inspection

C  termite inspection

D  none of the answers are correct

A  Rents

B  Interest

C  Title insurance

D  Property taxes

A  restricted and encumbered

B  restricted.

C  attached.

D  encumbered.

A  Escrow Assistant

B  Transaction Coordinator

C  Process Administrator

D  Broker Assistant

A  It is incurable

B  It is due to wear and tear

C  It is due to changes in the neighborhood

D  It is a result of off property causes

A  Agreement

B  Date of purchase

C  Intention

D  Adaptability

A  express contract.

B  mutual consent.

C  express contract and mutual consent.

D  implied contract.

A  are municipal bonds.

B  require a seller and/or salesperson to disclose.

C  usually fund street improvements.

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

A  a fee simple defeasible estate

B  a restricted fee estate.

C  an imperfect fee estate.

D  none of the above.

A  any of the above.

B  mortgage bankers.

C  pension funds.

D  mutual savings banks.

A  Landscaping, Roofing and Plumbing

B  Plumbing

C  Roofing

D  Landscaping

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

B  loss in value from any cause.

C  incurable.

D  curable.

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

B  Buyer’s Inspection Advisory

C  Disclosure Regarding Real Estate Agency Relationship

D  Wire Fraud and Electronic Funds Transfer Advisory

A  Vendee

B  Broker

C  Buyer

D  Seller

A  Bilateral contract

B  Nonexclusive

C  Exclusive

D  Illegal in California

A  Curb Summons.

B  Writ of Possession.

C  Three-Day Notice to Pay.

D  Unlawful Detainer.

A  February 1

B  November 1

C  November 1, December 10 and February 1

D  December 10

A  43,560

B  435

C  345

D  100,000

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

B  Lasts three hours and fifteen minutes

C  150 multiple-choice questions

D  Requires 70% correct score to pass

A  California Land Tax Association.

B  California Landlord Tenant Association.

C  Community Lease Transaction Account.

D  California Land Title Association.

A  Federal Civil Rights Act.

B  Unruh Civil Rights Act.

C  Rumford Act.

D  none of the above.

A  borrower’s spouse.

B  escrow.

C  third party.

D  lender.

A  unearned increment.

B  kiosk.

C  turnkey.

D  conduit.

A  life estate.

B  estate for years.

C  estate in remainder.

D  estate in reversion.

A  Marginal

B  Progressive

C  Static

D  Regressive

A  Mechanic’s lien

B  Tax assessment

C  Mechanic’s lien and Tax assessment

D  Trust deed

A  length of the lease.

B  names of the parties.

C  description of the property.

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

C  Disclosure Regarding Real Estate Agency Relationship

D  Wire Fraud and Electronic Funds Transfer Advisory

A  agent.

B  third party.

C  buyer.

D  principal.

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 trust.

B  residential encouragement involving trusts.

C  real estate investment transfer.

D  real equity interest trust.

A  must have court approval to contract.

B  cannot individually contract.

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

D  is of unsound mind.

A  refunded in full.

B  doubled.

C  prorated in escrow.

D  forfeited.

A  stated on the note.

B  the effective interest rate.

C  compounded daily.

D  a guarantee of negative amortization.

A  the property is destroyed.

B  the broker or seller dies.

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

D  the agency agreement expires.

A  Credit unions

B  Private lenders

C  Mortgage companies, Credit unions, and Private lenders

D  Mortgage companies

A  redlining.

B  steering.

C  poor taste.

D  block busting.

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

B  A home of greater value is worth less when located among homes of lesser 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  San Bernardino Base Line and Meridian

B  Baja Base Line and Meridian

C  Mt. Diablo Base Line and Meridian

D  Humboldt 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  preliminary title report.

B  coinsurance clause.

C  title insurance.

D  none of the above.

A  in writing.

B  by registered mail.

C  by registered mail, personally, and in writing

D  personally.

A  covenants, conditions, and restrictions.

B  covenants, communities, and residents.

C  conditions, control, and residuals.

D  construction, conditions, and restrictions.

A  title provenance.

B  title plant.

C  chain of title.

D  string 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  realtor.com and zillow.com

C  homealong.com and buymyhouse.com

D  None of the answers are correct

A  the CC&Rs.

B  a copy of the most recent financial statement.

C  the bylaws.

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

A  Foreign persons (aliens)

B  Convicts

C  Minors

D  Incompetents

A  70%

B  60%

C  80%

D  90%

A  life estate.

B  estate in waiting.

C  less-than-freehold estate.

D  estate in remainder.

A  blanket encumbrance.

B  full lien.

C  multi-tract lien.

D  none of the above.

A  energy efficiency (the higher the better).

B  water purity.

C  credit rating.

D  water pressure.

A  Statewide Buyer and Sellery Advisory

B  Residential Listing Agreement

C  None of the answers are correct

D  Natural Hazard Disclosure Statement

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  broker is not licensed .

B  seller is not the legal owner.

C  buyer is legally incompetent.

D  owner refuses to sell to the buyer.

A  private property.

B  real property.

C  personal property.

D  none of the above.

A  gives legal advice.

B  replaces a court of law.

C  enforces the Real Estate Law.

D  replaces a court of law and gives legal advice.

A  the date the documents are recorded.

B  always on the first day of the month.

C  due before the payoff demand statement.

D  the date the listing agreement is signed.

A  Easton v. Strassburger

B  None of the answers are correct

C  Huber v. the State of California

D  Jones v. Mayer

A  the fully indexed interest rate

B  the adjusted interest rate

C  the nominal interest rate.

D  the effective interest rate.

A  Curb lot

B  Key lot

C  Interior lot

D  Corner lot

A  It is considered executed when signed by the grantor.

B  Grant deeds contain implied warranties.

C  It is signed only by the grantee.

D  The key word is “grant.”

A  notice of non-responsibility.

B  mechanic’s lien.

C  unlawful detainer action.

D  cease and desist order.

A  tenancy for years.

B  periodic tenancy.

C  tenancy at will.

D  tenancy at sufferance.

A  38,304

B  43,560

C  38,416

D  41,560

A  End of Listing Clause

B  Safety Clause

C  Broker Entitlement Clause

D  Broker Entitlement Clause and End of Listing Clause

A  houses.

B  vacant land.

C  condos.

D  houses, condos and vacant land.

A  VA.

B  CalVet Program.

C  FHA.

D  California VFW Program.

A  Cash

B  Proper writing

C  Capacity

D  Mutual consent

A  Length of lease

B  Names of parties

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

D  Amount of rent

A  RESPA policy

B  CLTA policy

C  ALTA policy

D  None of the above

A  Always

B  Only during non-business days

C  Never

D  Only with the permission of the buyer

A  buyer’s market.

B  deflationary market.

C  lender’s market.

D  seller’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  Past sales considerations

C  Physical considerations

D  Social considerations

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

B  land and structures on the land.

C  anything appurtenant to the land.

D  anything incidental to the land.

A  false promise.

B  divided agency.

C  commingling.

D  conversion.

A  administrator.

B  notary public.

C  document doctor.

D  librarian.

A  federal felonies.

B  infractions.

C  misdemeanors.

D  none of the above.

A  $200

B  $2,000

C  $1,000

D  $7,000

A  5,000 sq. ft.

B  50,000 sq. ft.

C  500 sq. ft.

D  2,500 sq. ft.

A  30

B  28

C  29

D  31

A  illusory.

B  proprietary.

C  valid.

D  proprietary and illusory

A  government agencies.

B  the Bureau of Real Estate.

C  private parties.

D  none of the above.