Final Exam

A  negligent misrepresentation.

B  malicious misrepresentation.

C  fraudulent misrepresentation.

D  innocent misrepresentation.

A  lines of metes and bounds.

B  longitude and latitude lines.

C  lines of demarcation.

D  base lines and meridian lines.

A  A handyman working regularly for a property management firm.

B  A receptionist in a real estate sales office.

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

D  Janitorial staff for 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  21 calendar days

B  45 calendar days

C  20 days

D  15 days

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

B  lowers the discount rate.

C  lowers the reserve requirements of banks.

D  buys back bonds.

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  targeting.

B  redistricting.

C  redlining

D  gerrymandering.

A  15-day termination notice.

B  10-day termination notice.

C  20-day termination notice.

D  30-day termination notice.

A  flashing.

B  sill.

C  joist.

D  ridge board.

A  160

B  0.05

C  320

D  Zero

A  two years.

B  five years.

C  three years.

D  four years.

A  Estate at will

B  Estate for years

C  Estate at sufferance

D  Estate from period-to-period

A  functional depreciation.

B  economic obsolescence.

C  functional obsolescence.

D  none of the above.

A  $10,000,000

B  $3,000,000

C  $5,000,000 and $3,000,000

D  $5,000,000

A  structural damage inspection

B  none of the answers are correct

C  foundation condition inspection

D  termite inspection

A  Interest

B  Property taxes

C  Rents

D  Title insurance

A  restricted and encumbered

B  encumbered.

C  attached.

D  restricted.

A  Process Administrator

B  Broker Assistant

C  Transaction Coordinator

D  Escrow Assistant

A  It is incurable

B  It is due to changes in the neighborhood

C  It is a result of off property causes

D  It is due to wear and tear

A  Agreement

B  Intention

C  Date of purchase

D  Adaptability

A  mutual consent.

B  express contract and mutual consent.

C  implied contract.

D  express contract.

A  are municipal bonds.

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

C  usually fund street improvements.

D  require a seller and/or salesperson to disclose.

A  a fee simple defeasible estate

B  an imperfect fee estate.

C  a restricted fee estate.

D  none of the above.

A  pension funds.

B  mortgage bankers.

C  mutual savings banks.

D  any of the above.

A  Roofing

B  Plumbing

C  Landscaping

D  Landscaping, Roofing and Plumbing

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

B  curable.

C  loss in value from any cause.

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  Vendee

C  Buyer

D  Seller

A  Bilateral contract

B  Nonexclusive

C  Illegal in California

D  Exclusive

A  Curb Summons.

B  Unlawful Detainer.

C  Writ of Possession.

D  Three-Day Notice to Pay.

A  February 1

B  November 1, December 10 and February 1

C  December 10

D  November 1

A  43,560

B  345

C  435

D  100,000

A  150 multiple-choice questions

B  Lasts three hours and fifteen minutes

C  Requires 70% correct score to pass

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

A  California Land Tax Association.

B  Community Lease Transaction Account.

C  California Land Title Association.

D  California Landlord Tenant Association.

A  Rumford Act.

B  Unruh Civil Rights Act.

C  Federal Civil Rights Act.

D  none of the above.

A  lender.

B  escrow.

C  third party.

D  borrower’s spouse.

A  conduit.

B  turnkey.

C  unearned increment.

D  kiosk.

A  estate for years.

B  estate in remainder.

C  estate in reversion.

D  life estate.

A  Marginal

B  Progressive

C  Static

D  Regressive

A  Trust deed

B  Mechanic’s lien and Tax assessment

C  Tax assessment

D  Mechanic’s lien

A  words “let or demise.”

B  length of the lease.

C  names of the parties.

D  description of the property.

A  Wire Fraud and Electronic Funds Transfer Advisory

B  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

C  Disclosure Regarding Real Estate Agency Relationship

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

A  third party.

B  principal.

C  buyer.

D  agent.

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

B  for properties that generate income.

C  with new, unique, or public buildings.

D  at finding similar comparable properties.

A  real estate investment transfer.

B  real equity interest trust.

C  real estate investment trust.

D  residential encouragement involving trusts.

A  must have court approval to contract.

B  is of unsound mind.

C  cannot individually contract.

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

A  prorated in escrow.

B  forfeited.

C  doubled.

D  refunded in full.

A  a guarantee of negative amortization.

B  stated on the note.

C  the effective interest rate.

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

B  Private lenders

C  Credit unions

D  Mortgage companies, Credit unions, and Private lenders

A  block busting.

B  steering.

C  redlining.

D  poor taste.

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

A  San Bernardino Base Line and Meridian

B  Humboldt Base Line and Meridian

C  Baja Base Line and Meridian

D  Mt. Diablo Base Line and Meridian

A  deed.

B  verification.

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  preliminary title report.

B  title insurance.

C  coinsurance clause.

D  none of the above.

A  by registered mail, personally, and in writing

B  by registered mail.

C  personally.

D  in writing.

A  covenants, communities, and residents.

B  construction, conditions, and restrictions.

C  conditions, control, and residuals.

D  covenants, conditions, and restrictions.

A  title provenance.

B  string of title.

C  title plant.

D  chain of title.

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  realtor.com and zillow.com

B  homealong.com and buymyhouse.com

C  None of the answers are correct

D  perfectrealtor.com and lowcommission.com

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

B  a copy of the most recent financial statement.

C  the CC&Rs.

D  the bylaws.

A  Foreign persons (aliens)

B  Convicts

C  Incompetents

D  Minors

A  90%

B  70%

C  80%

D  60%

A  estate in waiting.

B  estate in remainder.

C  less-than-freehold estate.

D  life estate.

A  full lien.

B  multi-tract lien.

C  blanket encumbrance.

D  none of the above.

A  water pressure.

B  credit rating.

C  water purity.

D  energy efficiency (the higher the better).

A  None of the answers are correct

B  Residential Listing Agreement

C  Natural Hazard Disclosure Statement

D  Statewide Buyer and Sellery Advisory

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

D  They are easily transferable from one person to another.

A  broker is not licensed .

B  owner refuses to sell to the buyer.

C  buyer is legally incompetent.

D  seller is not the legal owner.

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  enforces the Real Estate Law.

D  gives legal advice.

A  always on the first day of the month.

B  the date the documents are recorded.

C  due before the payoff demand statement.

D  the date the listing agreement is signed.

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 fully indexed interest rate

C  the nominal interest rate.

D  the adjusted interest rate

A  Curb lot

B  Key lot

C  Corner lot

D  Interior 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  mechanic’s lien.

B  cease and desist order.

C  notice of non-responsibility.

D  unlawful detainer action.

A  periodic tenancy.

B  tenancy at will.

C  tenancy at sufferance.

D  tenancy for years.

A  41,560

B  43,560

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  condos.

C  vacant land.

D  houses, condos and vacant land.

A  FHA.

B  California VFW Program.

C  VA.

D  CalVet Program.

A  Proper writing

B  Cash

C  Mutual consent

D  Capacity

A  Length of lease

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

C  Amount of rent

D  Names of parties

A  CLTA policy

B  ALTA policy

C  RESPA policy

D  None of the above

A  Never

B  Only with the permission of the buyer

C  Only during non-business days

D  Always

A  buyer’s market.

B  deflationary market.

C  seller’s market.

D  lender’s market.

A  Federal Civil Rights Act of 1968.

B  Fair Employment and Housing Act.

C  Unruh Civil Rights Act.

D  Americans With Disabilities Act

A  Physical considerations

B  Social considerations

C  Past sales considerations

D  Economic considerations

A  anything incidental to the land.

B  anything appurtenant to the land.

C  land and structures on the land.

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

A  false promise.

B  divided agency.

C  commingling.

D  conversion.

A  notary public.

B  document doctor.

C  administrator.

D  librarian.

A  misdemeanors.

B  federal felonies.

C  infractions.

D  none of the above.

A  $7,000

B  $2,000

C  $200

D  $1,000

A  500 sq. ft.

B  5,000 sq. ft.

C  50,000 sq. ft.

D  2,500 sq. ft.

A  29

B  28

C  31

D  30

A  illusory.

B  valid.

C  proprietary.

D  proprietary and illusory

A  the Bureau of Real Estate.

B  private parties.

C  government agencies.

D  none of the above.