Final Exam

A  negligent misrepresentation.

B  malicious misrepresentation.

C  fraudulent misrepresentation.

D  innocent misrepresentation.

A  lines of metes and bounds.

B  base lines and meridian lines.

C  lines of demarcation.

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  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  help minority buyers obtain financing for new home purchases.

C  make funds available for residential loans in distressed areas.

A  45 calendar days

B  20 days

C  15 days

D  21 calendar days

A  lowers the discount rate.

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

C  buys back bonds.

D  lowers the reserve requirements of banks.

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  redistricting.

B  gerrymandering.

C  redlining

D  targeting.

A  30-day termination notice.

B  15-day termination notice.

C  10-day termination notice.

D  20-day termination notice.

A  ridge board.

B  sill.

C  flashing.

D  joist.

A  0.05

B  160

C  320

D  Zero

A  two years.

B  four years.

C  three years.

D  five years.

A  Estate from period-to-period

B  Estate at sufferance

C  Estate at will

D  Estate for years

A  economic obsolescence.

B  functional depreciation.

C  functional obsolescence.

D  none of the above.

A  $5,000,000 and $3,000,000

B  $3,000,000

C  $10,000,000

D  $5,000,000

A  foundation condition inspection

B  none of the answers are correct

C  structural damage inspection

D  termite inspection

A  Title insurance

B  Property taxes

C  Interest

D  Rents

A  restricted and encumbered

B  attached.

C  restricted.

D  encumbered.

A  Escrow Assistant

B  Process Administrator

C  Transaction Coordinator

D  Broker Assistant

A  It is due to wear and tear

B  It is incurable

C  It is due to changes in the neighborhood

D  It is a result of off property causes

A  Date of purchase

B  Adaptability

C  Intention

D  Agreement

A  express contract.

B  express contract and mutual consent.

C  implied contract.

D  mutual consent.

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  an imperfect fee estate.

B  a restricted fee estate.

C  a fee simple defeasible estate

D  none of the above.

A  mortgage bankers.

B  mutual savings banks.

C  any of the above.

D  pension funds.

A  Landscaping, Roofing and Plumbing

B  Plumbing

C  Roofing

D  Landscaping

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

B  incurable.

C  loss in value from any cause.

D  curable.

A  Buyer’s Inspection Advisory

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

C  Wire Fraud and Electronic Funds Transfer Advisory

D  Disclosure Regarding Real Estate Agency Relationship

A  Vendee

B  Broker

C  Buyer

D  Seller

A  Illegal in California

B  Nonexclusive

C  Exclusive

D  Bilateral contract

A  Unlawful Detainer.

B  Writ of Possession.

C  Curb Summons.

D  Three-Day Notice to Pay.

A  February 1

B  December 10

C  November 1

D  November 1, December 10 and February 1

A  345

B  100,000

C  43,560

D  435

A  Lasts three hours and fifteen minutes

B  Requires 70% correct score to pass

C  150 multiple-choice questions

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

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  escrow.

B  lender.

C  borrower’s spouse.

D  third party.

A  kiosk.

B  unearned increment.

C  conduit.

D  turnkey.

A  life estate.

B  estate for years.

C  estate in remainder.

D  estate in reversion.

A  Static

B  Regressive

C  Progressive

D  Marginal

A  Tax assessment

B  Trust deed

C  Mechanic’s lien

D  Mechanic’s lien and Tax assessment

A  length of the lease.

B  description of the property.

C  names of the parties.

D  words “let or demise.”

A  Wire Fraud and Electronic Funds Transfer Advisory

B  Disclosure Regarding Real Estate Agency Relationship

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

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  agent.

B  third party.

C  principal.

D  buyer.

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

B  at finding similar comparable properties.

C  for properties that generate income.

D  with new, unique, or public buildings.

A  real estate investment transfer.

B  real equity interest trust.

C  residential encouragement involving trusts.

D  real estate investment trust.

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

B  is of unsound mind.

C  cannot individually contract.

D  must have court approval to contract.

A  prorated in escrow.

B  doubled.

C  refunded in full.

D  forfeited.

A  the effective interest rate.

B  a guarantee of negative amortization.

C  stated on the note.

D  compounded daily.

A  the property is destroyed.

B  the agency agreement expires.

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

D  the broker or seller dies.

A  Mortgage companies, Credit unions, and Private lenders

B  Credit unions

C  Mortgage companies

D  Private lenders

A  redlining.

B  block busting.

C  poor taste.

D  steering.

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

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

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

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

A  Humboldt Base Line and Meridian

B  Mt. Diablo Base Line and Meridian

C  Baja Base Line and Meridian

D  San Bernardino Base Line and Meridian

A  verification.

B  deed.

C  actual notice.

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  preliminary title report.

C  title insurance.

D  none of the above.

A  personally.

B  by registered mail, personally, and in writing

C  by registered mail.

D  in writing.

A  construction, conditions, and restrictions.

B  covenants, communities, and residents.

C  conditions, control, and residuals.

D  covenants, conditions, and restrictions.

A  string of title.

B  chain of title.

C  title plant.

D  title provenance.

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  homealong.com and buymyhouse.com

C  realtor.com and zillow.com

D  perfectrealtor.com and lowcommission.com

A  a copy of the most recent financial statement.

B  the bylaws.

C  the CC&Rs.

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

A  Foreign persons (aliens)

B  Minors

C  Incompetents

D  Convicts

A  80%

B  90%

C  60%

D  70%

A  estate in waiting.

B  life estate.

C  estate in remainder.

D  less-than-freehold estate.

A  multi-tract lien.

B  full lien.

C  blanket encumbrance.

D  none of the above.

A  credit rating.

B  energy efficiency (the higher the better).

C  water pressure.

D  water purity.

A  Statewide Buyer and Sellery Advisory

B  Residential Listing Agreement

C  Natural Hazard Disclosure Statement

D  None of the answers are correct

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  seller is not the legal owner.

B  broker is not licensed .

C  owner refuses to sell to the buyer.

D  buyer is legally incompetent.

A  private property.

B  personal property.

C  real property.

D  none of the above.

A  gives legal advice.

B  replaces a court of law.

C  replaces a court of law and gives legal advice.

D  enforces the Real Estate Law.

A  due before the payoff demand statement.

B  the date the listing agreement is signed.

C  the date the documents are recorded.

D  always on the first day of the month.

A  None of the answers are correct

B  Easton v. Strassburger

C  Huber v. the State of California

D  Jones v. Mayer

A  the adjusted interest rate

B  the fully indexed interest rate

C  the effective interest rate.

D  the nominal interest rate.

A  Key lot

B  Corner lot

C  Interior lot

D  Curb lot

A  It is signed only by the grantee.

B  Grant deeds contain implied warranties.

C  The key word is “grant.”

D  It is considered executed when signed by the grantor.

A  unlawful detainer action.

B  mechanic’s lien.

C  notice of non-responsibility.

D  cease and desist order.

A  tenancy at will.

B  tenancy for years.

C  tenancy at sufferance.

D  periodic tenancy.

A  38,304

B  38,416

C  43,560

D  41,560

A  Broker Entitlement Clause and End of Listing Clause

B  Safety Clause

C  Broker Entitlement Clause

D  End of Listing Clause

A  houses.

B  vacant land.

C  condos.

D  houses, condos and vacant land.

A  CalVet Program.

B  California VFW Program.

C  VA.

D  FHA.

A  Mutual consent

B  Proper writing

C  Cash

D  Capacity

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

B  Amount of rent

C  Length of lease

D  Names of parties

A  CLTA policy

B  ALTA policy

C  RESPA policy

D  None of the above

A  Always

B  Never

C  Only with the permission of the buyer

D  Only during non-business days

A  seller’s market.

B  buyer’s market.

C  lender’s market.

D  deflationary market.

A  Americans With Disabilities Act

B  Fair Employment and Housing Act.

C  Federal Civil Rights Act of 1968.

D  Unruh Civil Rights Act.

A  Social considerations

B  Past sales considerations

C  Economic considerations

D  Physical considerations

A  land and structures on the land.

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

C  anything incidental to the land.

D  anything appurtenant to the land.

A  commingling.

B  divided agency.

C  conversion.

D  false promise.

A  administrator.

B  document doctor.

C  librarian.

D  notary public.

A  federal felonies.

B  infractions.

C  misdemeanors.

D  none of the above.

A  $2,000

B  $7,000

C  $1,000

D  $200

A  5,000 sq. ft.

B  50,000 sq. ft.

C  500 sq. ft.

D  2,500 sq. ft.

A  29

B  28

C  30

D  31

A  proprietary and illusory

B  valid.

C  illusory.

D  proprietary.

A  government agencies.

B  the Bureau of Real Estate.

C  private parties.

D  none of the above.