Final Exam

A  negligent misrepresentation.

B  innocent misrepresentation.

C  malicious misrepresentation.

D  fraudulent misrepresentation.

A  lines of demarcation.

B  longitude and latitude lines.

C  base lines and meridian lines.

D  lines of metes and bounds.

A  A handyman working regularly for a property management firm.

B  A receptionist in a real estate sales office.

C  Janitorial staff for a real estate sales office.

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

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  15 days

B  21 calendar days

C  45 calendar days

D  20 days

A  buys back bonds.

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

C  lowers the reserve requirements of banks.

D  lowers the discount rate.

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

B  cannot show or rent vacant units.

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

D  None of the above.

A  redlining

B  redistricting.

C  gerrymandering.

D  targeting.

A  15-day termination notice.

B  20-day termination notice.

C  10-day termination notice.

D  30-day termination notice.

A  ridge board.

B  flashing.

C  sill.

D  joist.

A  0.05

B  160

C  320

D  Zero

A  five years.

B  two years.

C  four years.

D  three years.

A  Estate for years

B  Estate from period-to-period

C  Estate at will

D  Estate at sufferance

A  economic obsolescence.

B  functional obsolescence.

C  functional depreciation.

D  none of the above.

A  $5,000,000

B  $5,000,000 and $3,000,000

C  $3,000,000

D  $10,000,000

A  termite inspection

B  structural damage inspection

C  none of the answers are correct

D  foundation condition inspection

A  Property taxes

B  Interest

C  Title insurance

D  Rents

A  restricted and encumbered

B  attached.

C  encumbered.

D  restricted.

A  Escrow Assistant

B  Transaction Coordinator

C  Process Administrator

D  Broker Assistant

A  It is incurable

B  It is a result of off property causes

C  It is due to changes in the neighborhood

D  It is due to wear and tear

A  Agreement

B  Date of purchase

C  Intention

D  Adaptability

A  express contract.

B  mutual consent.

C  implied contract.

D  express contract and mutual consent.

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

B  require a seller and/or salesperson to disclose.

C  usually fund street improvements.

D  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  mutual savings banks.

B  pension funds.

C  mortgage bankers.

D  any of the above.

A  Plumbing

B  Landscaping, Roofing and Plumbing

C  Landscaping

D  Roofing

A  incurable.

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

C  curable.

D  loss in value from any cause.

A  Disclosure Regarding Real Estate Agency Relationship

B  Buyer’s Inspection Advisory

C  Wire Fraud and Electronic Funds Transfer Advisory

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

A  Broker

B  Seller

C  Vendee

D  Buyer

A  Exclusive

B  Illegal in California

C  Bilateral contract

D  Nonexclusive

A  Writ of Possession.

B  Unlawful Detainer.

C  Three-Day Notice to Pay.

D  Curb Summons.

A  February 1

B  November 1, December 10 and February 1

C  December 10

D  November 1

A  345

B  43,560

C  435

D  100,000

A  Lasts three hours and fifteen minutes

B  150 multiple-choice questions

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

D  Requires 70% correct score to pass

A  California Landlord Tenant Association.

B  California Land Tax Association.

C  Community Lease Transaction Account.

D  California Land Title Association.

A  Rumford Act.

B  Unruh Civil Rights Act.

C  Federal Civil Rights Act.

D  none of the above.

A  borrower’s spouse.

B  escrow.

C  third party.

D  lender.

A  turnkey.

B  unearned increment.

C  kiosk.

D  conduit.

A  life estate.

B  estate in reversion.

C  estate for years.

D  estate in remainder.

A  Progressive

B  Marginal

C  Regressive

D  Static

A  Mechanic’s lien and Tax assessment

B  Trust deed

C  Tax assessment

D  Mechanic’s lien

A  names of the parties.

B  length of the lease.

C  words “let or demise.”

D  description of the property.

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

B  Wire Fraud and Electronic Funds Transfer Advisory

C  Disclosure Regarding Real Estate Agency Relationship

D  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

A  third party.

B  agent.

C  principal.

D  buyer.

A  at finding similar comparable properties.

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

C  for properties that generate income.

D  with new, unique, or public buildings.

A  real estate investment trust.

B  residential encouragement involving trusts.

C  real estate investment transfer.

D  real equity interest trust.

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

B  cannot individually contract.

C  must have court approval to contract.

D  is of unsound mind.

A  prorated in escrow.

B  doubled.

C  forfeited.

D  refunded in full.

A  stated on the note.

B  compounded daily.

C  a guarantee of negative amortization.

D  the effective interest rate.

A  the property is destroyed.

B  the agency agreement expires.

C  the broker or seller dies.

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

A  Private lenders

B  Credit unions

C  Mortgage companies, Credit unions, and Private lenders

D  Mortgage companies

A  poor taste.

B  steering.

C  redlining.

D  block busting.

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

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

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

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

A  Mt. Diablo Base Line and Meridian

B  Humboldt Base Line and Meridian

C  San Bernardino Base Line and Meridian

D  Baja Base Line and Meridian

A  verification.

B  deed.

C  actual notice.

D  none of the above.

A  subtracted from the sales price of the comparable.

B  added to the sales price of the comparable.

C  just noted on the appraisal but nothing is done.

D  none of the above.

A  coinsurance clause.

B  title insurance.

C  preliminary title report.

D  none of the above.

A  in writing.

B  by registered mail.

C  by registered mail, personally, and in writing

D  personally.

A  covenants, communities, and residents.

B  covenants, conditions, and restrictions.

C  conditions, control, and residuals.

D  construction, conditions, and restrictions.

A  title plant.

B  chain of title.

C  title provenance.

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, the CC&Rs, and the bylaws.

C  a copy of the most recent financial statement.

D  the bylaws.

A  Foreign persons (aliens)

B  Incompetents

C  Minors

D  Convicts

A  90%

B  60%

C  70%

D  80%

A  less-than-freehold estate.

B  estate in remainder.

C  estate in waiting.

D  life estate.

A  full lien.

B  multi-tract lien.

C  blanket encumbrance.

D  none of the above.

A  water pressure.

B  energy efficiency (the higher the better).

C  credit rating.

D  water purity.

A  None of the answers are correct

B  Statewide Buyer and Sellery Advisory

C  Natural Hazard Disclosure Statement

D  Residential Listing Agreement

A  Promissory notes are considered negotiable instruments.

B  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.

C  They are easily transferable from one person to another.

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

A  seller is not the legal owner.

B  broker is not licensed .

C  buyer is legally incompetent.

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 and gives legal advice.

B  enforces the Real Estate Law.

C  gives legal advice.

D  replaces a court of law.

A  the date the documents are recorded.

B  always on the first day of the month.

C  the date the listing agreement is signed.

D  due before the payoff demand statement.

A  Jones v. Mayer

B  None of the answers are correct

C  Huber v. the State of California

D  Easton v. Strassburger

A  the effective interest rate.

B  the adjusted interest rate

C  the fully indexed interest rate

D  the nominal interest rate.

A  Curb lot

B  Key lot

C  Interior lot

D  Corner lot

A  It is signed only by the grantee.

B  It is considered executed when signed by the grantor.

C  The key word is “grant.”

D  Grant deeds contain implied warranties.

A  notice of non-responsibility.

B  cease and desist order.

C  unlawful detainer action.

D  mechanic’s lien.

A  tenancy for years.

B  periodic tenancy.

C  tenancy at will.

D  tenancy at sufferance.

A  38,304

B  41,560

C  38,416

D  43,560

A  Broker Entitlement Clause and End of Listing Clause

B  Safety Clause

C  End of Listing Clause

D  Broker Entitlement Clause

A  vacant land.

B  houses, condos and vacant land.

C  houses.

D  condos.

A  CalVet Program.

B  California VFW Program.

C  FHA.

D  VA.

A  Cash

B  Capacity

C  Proper writing

D  Mutual consent

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

B  Length of lease

C  Names of parties

D  Amount of rent

A  ALTA policy

B  CLTA policy

C  RESPA policy

D  None of the above

A  Only with the permission of the buyer

B  Never

C  Only during non-business days

D  Always

A  lender’s market.

B  seller’s market.

C  deflationary market.

D  buyer’s market.

A  Fair Employment and Housing Act.

B  Federal Civil Rights Act of 1968.

C  Unruh Civil Rights Act.

D  Americans With Disabilities Act

A  Past sales considerations

B  Physical considerations

C  Economic considerations

D  Social considerations

A  land and structures on the land.

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

C  anything appurtenant to the land.

D  anything incidental to the land.

A  conversion.

B  commingling.

C  false promise.

D  divided agency.

A  notary public.

B  administrator.

C  librarian.

D  document doctor.

A  federal felonies.

B  misdemeanors.

C  infractions.

D  none of the above.

A  $200

B  $1,000

C  $7,000

D  $2,000

A  500 sq. ft.

B  5,000 sq. ft.

C  50,000 sq. ft.

D  2,500 sq. ft.

A  30

B  29

C  31

D  28

A  proprietary and illusory

B  illusory.

C  proprietary.

D  valid.

A  the Bureau of Real Estate.

B  government agencies.

C  private parties.

D  none of the above.