Final Exam

A  innocent misrepresentation.

B  negligent misrepresentation.

C  fraudulent misrepresentation.

D  malicious misrepresentation.

A  longitude and latitude lines.

B  lines of demarcation.

C  lines of metes and bounds.

D  base lines and meridian lines.

A  Janitorial staff for a real estate sales office.

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

C  A receptionist in a real estate sales office.

D  A handyman working regularly for a property management firm.

A  help minority buyers obtain financing for new home purchases.

B  subsidize rents for low income renters.

C  make funds available for residential loans in distressed areas.

A  20 days

B  21 calendar days

C  45 calendar days

D  15 days

A  lowers the reserve requirements of banks.

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

C  buys back bonds.

D  lowers the discount rate.

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

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

C  cannot show or rent vacant units.

D  None of the above.

A  redlining

B  gerrymandering.

C  redistricting.

D  targeting.

A  30-day termination notice.

B  10-day termination notice.

C  15-day termination notice.

D  20-day termination notice.

A  flashing.

B  sill.

C  ridge board.

D  joist.

A  320

B  0.05

C  160

D  Zero

A  five years.

B  three years.

C  two years.

D  four years.

A  Estate for years

B  Estate at sufferance

C  Estate at will

D  Estate from period-to-period

A  economic obsolescence.

B  functional obsolescence.

C  functional depreciation.

D  none of the above.

A  $10,000,000

B  $3,000,000

C  $5,000,000

D  $5,000,000 and $3,000,000

A  termite inspection

B  structural damage inspection

C  foundation condition inspection

D  none of the answers are correct

A  Property taxes

B  Rents

C  Interest

D  Title insurance

A  restricted and encumbered

B  encumbered.

C  attached.

D  restricted.

A  Escrow Assistant

B  Broker Assistant

C  Process Administrator

D  Transaction Coordinator

A  It is due to wear and tear

B  It is due to changes in the neighborhood

C  It is incurable

D  It is a result of off property causes

A  Adaptability

B  Date of purchase

C  Intention

D  Agreement

A  mutual consent.

B  express contract.

C  implied contract.

D  express contract and mutual consent.

A  usually fund street improvements.

B  are municipal bonds.

C  require a seller and/or salesperson to disclose.

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

A  an imperfect fee estate.

B  a restricted fee estate.

C  a fee simple defeasible estate

D  none of the above.

A  pension funds.

B  mutual savings banks.

C  mortgage bankers.

D  any of the above.

A  Roofing

B  Landscaping

C  Landscaping, Roofing and Plumbing

D  Plumbing

A  curable.

B  loss in value from any cause.

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

D  incurable.

A  Disclosure Regarding Real Estate Agency Relationship

B  Wire Fraud and Electronic Funds Transfer Advisory

C  Buyer’s Inspection Advisory

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

A  Broker

B  Buyer

C  Vendee

D  Seller

A  Nonexclusive

B  Bilateral contract

C  Exclusive

D  Illegal in California

A  Three-Day Notice to Pay.

B  Unlawful Detainer.

C  Curb Summons.

D  Writ of Possession.

A  February 1

B  November 1, December 10 and February 1

C  December 10

D  November 1

A  43,560

B  100,000

C  435

D  345

A  Requires 70% correct score to pass

B  Lasts three hours and fifteen minutes

C  150 multiple-choice questions

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

A  Community Lease Transaction Account.

B  California Landlord Tenant Association.

C  California Land Tax Association.

D  California Land Title Association.

A  Unruh Civil Rights Act.

B  Rumford Act.

C  Federal Civil Rights Act.

D  none of the above.

A  third party.

B  lender.

C  borrower’s spouse.

D  escrow.

A  unearned increment.

B  conduit.

C  turnkey.

D  kiosk.

A  life estate.

B  estate in remainder.

C  estate in reversion.

D  estate for years.

A  Progressive

B  Marginal

C  Static

D  Regressive

A  Trust deed

B  Tax assessment

C  Mechanic’s lien and Tax assessment

D  Mechanic’s lien

A  description of the property.

B  names of the parties.

C  words “let or demise.”

D  length of the lease.

A  Disclosure Regarding Real Estate Agency Relationship

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

C  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

D  Wire Fraud and Electronic Funds Transfer Advisory

A  third party.

B  agent.

C  buyer.

D  principal.

A  with new, unique, or public buildings.

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

C  for properties that generate income.

D  at finding similar comparable properties.

A  residential encouragement involving trusts.

B  real equity interest trust.

C  real estate investment trust.

D  real estate investment transfer.

A  cannot individually contract.

B  must have court approval to contract.

C  is of unsound mind.

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

A  forfeited.

B  doubled.

C  refunded in full.

D  prorated in escrow.

A  stated on the note.

B  a guarantee of negative amortization.

C  compounded daily.

D  the effective interest rate.

A  the agency agreement expires.

B  the property is destroyed.

C  the broker or seller dies.

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

A  Mortgage companies, Credit unions, and Private lenders

B  Credit unions

C  Private lenders

D  Mortgage companies

A  steering.

B  redlining.

C  poor taste.

D  block busting.

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

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

A  Baja Base Line and Meridian

B  Mt. Diablo Base Line and Meridian

C  Humboldt Base Line and Meridian

D  San Bernardino Base Line and Meridian

A  actual notice.

B  deed.

C  verification.

D  none of the above.

A  subtracted from the sales price of the comparable.

B  just noted on the appraisal but nothing is done.

C  added to 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.

B  in writing.

C  personally.

D  by registered mail, personally, and in writing

A  construction, conditions, and restrictions.

B  conditions, control, and residuals.

C  covenants, communities, and residents.

D  covenants, conditions, and restrictions.

A  string of title.

B  title plant.

C  title provenance.

D  chain of title.

A  economic life remaining in the improvements.

B  chronological age of the improvements.

C  physical life remaining in the improvements.

D  none of the above.

A  realtor.com and zillow.com

B  perfectrealtor.com and lowcommission.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  Minors

B  Foreign persons (aliens)

C  Incompetents

D  Convicts

A  70%

B  90%

C  80%

D  60%

A  estate in remainder.

B  less-than-freehold estate.

C  estate in waiting.

D  life estate.

A  full lien.

B  blanket encumbrance.

C  multi-tract lien.

D  none of the above.

A  credit rating.

B  energy efficiency (the higher the better).

C  water pressure.

D  water purity.

A  Residential Listing Agreement

B  Statewide Buyer and Sellery Advisory

C  None of the answers are correct

D  Natural Hazard Disclosure Statement

A  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.

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

C  Promissory notes are considered negotiable instruments.

D  They are easily transferable from one person to another.

A  seller is not the legal owner.

B  buyer is legally incompetent.

C  broker is not licensed .

D  owner refuses to sell to the buyer.

A  personal property.

B  private property.

C  real property.

D  none of the above.

A  replaces a court of law.

B  replaces a court of law and gives legal advice.

C  gives legal advice.

D  enforces the Real Estate Law.

A  always on the first day of the month.

B  due before the payoff demand statement.

C  the date the listing agreement is signed.

D  the date the documents are recorded.

A  None of the answers are correct

B  Huber v. the State of California

C  Easton v. Strassburger

D  Jones v. Mayer

A  the adjusted interest rate

B  the nominal interest rate.

C  the fully indexed interest rate

D  the effective interest rate.

A  Curb lot

B  Key lot

C  Interior lot

D  Corner lot

A  It is signed only by the grantee.

B  The key word is “grant.”

C  It is considered executed when signed by the grantor.

D  Grant deeds contain implied warranties.

A  cease and desist order.

B  mechanic’s lien.

C  unlawful detainer action.

D  notice of non-responsibility.

A  tenancy at sufferance.

B  tenancy at will.

C  periodic tenancy.

D  tenancy for years.

A  43,560

B  41,560

C  38,304

D  38,416

A  Safety Clause

B  Broker Entitlement Clause

C  End of Listing Clause

D  Broker Entitlement Clause and End of Listing Clause

A  houses.

B  vacant land.

C  houses, condos and vacant land.

D  condos.

A  FHA.

B  California VFW Program.

C  CalVet Program.

D  VA.

A  Capacity

B  Mutual consent

C  Proper writing

D  Cash

A  Amount of rent

B  Names of parties

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

D  Length of lease

A  ALTA policy

B  CLTA policy

C  RESPA policy

D  None of the above

A  Only with the permission of the buyer

B  Only during non-business days

C  Never

D  Always

A  lender’s market.

B  buyer’s market.

C  seller’s market.

D  deflationary market.

A  Fair Employment and Housing Act.

B  Federal Civil Rights Act of 1968.

C  Americans With Disabilities Act

D  Unruh Civil Rights Act.

A  Physical considerations

B  Past sales considerations

C  Economic considerations

D  Social considerations

A  anything appurtenant to the land.

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

C  anything incidental to the land.

D  land and structures on the land.

A  divided agency.

B  conversion.

C  false promise.

D  commingling.

A  librarian.

B  notary public.

C  administrator.

D  document doctor.

A  federal felonies.

B  infractions.

C  misdemeanors.

D  none of the above.

A  $1,000

B  $200

C  $7,000

D  $2,000

A  5,000 sq. ft.

B  500 sq. ft.

C  2,500 sq. ft.

D  50,000 sq. ft.

A  30

B  29

C  28

D  31

A  valid.

B  illusory.

C  proprietary and illusory

D  proprietary.

A  private parties.

B  government agencies.

C  the Bureau of Real Estate.

D  none of the above.