Final Exam

A  negligent misrepresentation.

B  malicious misrepresentation.

C  innocent misrepresentation.

D  fraudulent misrepresentation.

A  longitude and latitude lines.

B  lines of metes and bounds.

C  lines of demarcation.

D  base lines and meridian lines.

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

B  A handyman working regularly for a property management firm.

C  Janitorial staff for a real estate sales office.

D  A receptionist in a real estate sales office.

A  help minority buyers obtain financing for new home purchases.

B  make funds available for residential loans in distressed areas.

C  subsidize rents for low income renters.

A  20 days

B  15 days

C  45 calendar days

D  21 calendar days

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

B  lowers the discount rate.

C  buys back bonds.

D  lowers the reserve requirements of banks.

A  cannot show or rent vacant units.

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

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  redistricting.

B  targeting.

C  gerrymandering.

D  redlining

A  20-day termination notice.

B  30-day termination notice.

C  10-day termination notice.

D  15-day termination notice.

A  ridge board.

B  sill.

C  flashing.

D  joist.

A  160

B  320

C  Zero

D  0.05

A  four years.

B  five years.

C  two years.

D  three years.

A  Estate at will

B  Estate at sufferance

C  Estate for years

D  Estate from period-to-period

A  economic obsolescence.

B  functional obsolescence.

C  functional depreciation.

D  none of the above.

A  $3,000,000

B  $5,000,000 and $3,000,000

C  $10,000,000

D  $5,000,000

A  termite inspection

B  none of the answers are correct

C  structural damage inspection

D  foundation condition inspection

A  Title insurance

B  Property taxes

C  Interest

D  Rents

A  restricted and encumbered

B  attached.

C  encumbered.

D  restricted.

A  Broker Assistant

B  Process Administrator

C  Escrow Assistant

D  Transaction Coordinator

A  It is incurable

B  It is due to wear and tear

C  It is a result of off property causes

D  It is due to changes in the neighborhood

A  Intention

B  Date of purchase

C  Adaptability

D  Agreement

A  express contract and mutual consent.

B  mutual consent.

C  express contract.

D  implied contract.

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

B  usually fund street improvements.

C  require a seller and/or salesperson to disclose.

D  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  any of the above.

C  mortgage bankers.

D  mutual savings banks.

A  Plumbing

B  Roofing

C  Landscaping, Roofing and Plumbing

D  Landscaping

A  loss in value from any cause.

B  incurable.

C  curable.

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

A  Wire Fraud and Electronic Funds Transfer Advisory

B  Disclosure Regarding Real Estate Agency Relationship

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  Buyer

B  Vendee

C  Seller

D  Broker

A  Nonexclusive

B  Illegal in California

C  Exclusive

D  Bilateral contract

A  Unlawful Detainer.

B  Curb Summons.

C  Three-Day Notice to Pay.

D  Writ of Possession.

A  December 10

B  November 1, December 10 and February 1

C  November 1

D  February 1

A  435

B  345

C  43,560

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  Unruh Civil Rights Act.

B  Rumford Act.

C  Federal Civil Rights Act.

D  none of the above.

A  borrower’s spouse.

B  lender.

C  third party.

D  escrow.

A  unearned increment.

B  conduit.

C  kiosk.

D  turnkey.

A  life estate.

B  estate for years.

C  estate in reversion.

D  estate in remainder.

A  Regressive

B  Static

C  Marginal

D  Progressive

A  Trust deed

B  Tax assessment

C  Mechanic’s lien and Tax assessment

D  Mechanic’s lien

A  length of the lease.

B  description of the property.

C  words “let or demise.”

D  names of the parties.

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  Disclosure Regarding Real Estate Agency Relationship

C  Wire Fraud and Electronic Funds Transfer Advisory

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

A  principal.

B  buyer.

C  agent.

D  third party.

A  at finding similar comparable properties.

B  for properties that generate income.

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

D  with new, unique, or public buildings.

A  real estate investment transfer.

B  residential encouragement involving trusts.

C  real equity interest trust.

D  real estate investment trust.

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

B  must have court approval to contract.

C  is of unsound mind.

D  cannot individually contract.

A  doubled.

B  prorated in escrow.

C  forfeited.

D  refunded in full.

A  stated on the note.

B  compounded daily.

C  the effective interest rate.

D  a guarantee of negative amortization.

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

B  the property is destroyed.

C  the broker or seller dies.

D  the agency agreement expires.

A  Credit unions

B  Private lenders

C  Mortgage companies

D  Mortgage companies, Credit unions, and Private lenders

A  steering.

B  poor taste.

C  redlining.

D  block busting.

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

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

A  Baja Base Line and Meridian

B  Mt. Diablo Base Line and Meridian

C  San Bernardino Base Line and Meridian

D  Humboldt Base Line and Meridian

A  actual notice.

B  verification.

C  deed.

D  none of the above.

A  added to the sales price of the comparable.

B  subtracted from 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  by registered mail, personally, and in writing

B  personally.

C  in writing.

D  by registered mail.

A  conditions, control, and residuals.

B  covenants, communities, and residents.

C  covenants, conditions, and restrictions.

D  construction, conditions, and restrictions.

A  chain of title.

B  string of title.

C  title provenance.

D  title plant.

A  physical life remaining in the improvements.

B  chronological age of the improvements.

C  economic life remaining in the improvements.

D  none of the above.

A  None of the answers are correct

B  perfectrealtor.com and lowcommission.com

C  realtor.com and zillow.com

D  homealong.com and buymyhouse.com

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

B  the CC&Rs.

C  the bylaws.

D  a copy of the most recent financial statement.

A  Convicts

B  Incompetents

C  Minors

D  Foreign persons (aliens)

A  90%

B  60%

C  80%

D  70%

A  life estate.

B  estate in remainder.

C  estate in waiting.

D  less-than-freehold estate.

A  blanket encumbrance.

B  full lien.

C  multi-tract lien.

D  none of the above.

A  credit rating.

B  water pressure.

C  energy efficiency (the higher the better).

D  water purity.

A  Residential Listing Agreement

B  None of the answers are correct

C  Statewide Buyer and Sellery Advisory

D  Natural Hazard Disclosure Statement

A  They are easily transferable from one person to another.

B  Promissory notes are considered negotiable instruments.

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

D  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.

A  buyer is legally incompetent.

B  broker is not licensed .

C  seller is not the legal owner.

D  owner refuses to sell to the buyer.

A  real property.

B  private property.

C  personal property.

D  none of the above.

A  replaces a court of law.

B  gives legal advice.

C  replaces a court of law and gives legal advice.

D  enforces the Real Estate Law.

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  None of the answers are correct

B  Huber v. the State of California

C  Easton v. Strassburger

D  Jones v. Mayer

A  the fully indexed interest rate

B  the nominal interest rate.

C  the adjusted interest rate

D  the effective interest rate.

A  Key lot

B  Corner lot

C  Interior lot

D  Curb lot

A  The key word is “grant.”

B  It is considered executed when signed by the grantor.

C  It is signed only by the grantee.

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 at will.

B  periodic tenancy.

C  tenancy for years.

D  tenancy at sufferance.

A  38,304

B  38,416

C  43,560

D  41,560

A  Broker Entitlement Clause

B  Safety Clause

C  End of Listing Clause

D  Broker Entitlement Clause and End of Listing Clause

A  vacant land.

B  houses, condos and vacant land.

C  condos.

D  houses.

A  CalVet Program.

B  California VFW Program.

C  VA.

D  FHA.

A  Cash

B  Capacity

C  Proper writing

D  Mutual consent

A  Amount of rent

B  Names of parties

C  Length of lease

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

A  ALTA policy

B  RESPA policy

C  CLTA policy

D  None of the above

A  Only during non-business days

B  Always

C  Never

D  Only with the permission of the buyer

A  deflationary market.

B  seller’s market.

C  buyer’s market.

D  lender’s market.

A  Americans With Disabilities Act

B  Unruh Civil Rights Act.

C  Federal Civil Rights Act of 1968.

D  Fair Employment and Housing Act.

A  Physical considerations

B  Social considerations

C  Past sales considerations

D  Economic considerations

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

B  anything appurtenant to the land.

C  anything incidental to the land.

D  land and structures on the land.

A  conversion.

B  divided agency.

C  false promise.

D  commingling.

A  notary public.

B  librarian.

C  administrator.

D  document doctor.

A  misdemeanors.

B  federal felonies.

C  infractions.

D  none of the above.

A  $1,000

B  $2,000

C  $7,000

D  $200

A  500 sq. ft.

B  50,000 sq. ft.

C  2,500 sq. ft.

D  5,000 sq. ft.

A  29

B  28

C  31

D  30

A  illusory.

B  valid.

C  proprietary.

D  proprietary and illusory

A  private parties.

B  the Bureau of Real Estate.

C  government agencies.

D  none of the above.