Midterm Exam

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Question #1

The disclosure that reminds buyers and sellers of the importance of investigating a property before the sale is known as the:

A Disclosure Regarding Agency Relationship.

B National Hazard Disclosure.

C Statewide Buyers and Seller Advisory.

D None of the answers are correct.

Question #2

What’s included in the Residential Listing Agreement (RLA) that may allow a broker to collect a commission even after the termination of the listing?

A Safety Clause

B Termination Clause

C Restrictive Clause

D Penalty Clause

Question #3

Real estate laws in California apply to:

A vacant land.

B all answers are correct.

C commercial property.

D 1- to 4-unit residential property.

Question #4

The steps of agency disclosure include:

A all answers are correct.

B confirm.

C elect.

D disclose.

Question #5

A licensed real estate broker working in the capacity of a salesperson for another broker or corporation is known as a:

A broker associate.

B licensed agent.

C unlicensed agent.

D principal broker.

Question #6

Which of the following forms are included in CAR’s® “Listing Package”?

A Sellers Advisory

B Disclosure Regarding Real Estate Agency Relationship

C All answers are correct

D Wire Fraud and Electronic Funds Transfer Advisory

Question #7

If tenant just moves out or vacates the premises without formal surrender and never returns, it is called:

A forbearance

B lease termination

C abandonment

D surrender

Question #8

A legal document that informs the tenant that he/she has three straight days to pay all past due rent, vacate the premises, or face an unlawful detainer court action is known as a(n):

A 3-day notice to pay rent or quit

B eviction notice

C court order

D none of the above

Question #9

Providing the landlord with funds to pay for damages or unpaid rent when the tenant vacates is called a(n):

A vacating fee

B goodwill

C trust account

D security deposit

Question #10

The amount of money paid for the use of a property is known as:

A rent

B dues

C fees

D booty

Question #11

Minimum requirements of a lease include which of the following:

A all answers are correct.

B description of property

C amount of rent

D length or duration of the lease

Question #12

If a tenant does NOT leave after expiration of the lease and retains possession, what has occurred?

A Hostage possession

B Reversionary right

C Estate at sufferance

D None of the above

Question #13

The legal process of removing a tenant because there is a breach of the lease or rental agreement is called a(n):

A eviction

B three-day notice to pay

C unlawful detainer

D lawsuit

Question #14

Which of the following can discharge a contract?

A Full performance

B Impossibility of performance

C Operation of law

D all answers are correct.

Question #15

In a contract, anything of value given by one party to another party to make the agreement binding is known as:

A consideration

B a gift

C a deposit

D none of the above

Question #16

You promise to pay a painter $2,000 to paint your house and the painter agrees to do it. What type of contract is formed?

A void contract

B bilateral contract

C implied contract

D unilateral contract

Question #17

You enter the coffee shop next door where you have an account, pour yourself a cup of coffee, hold it up to show the manager and wave as you leave the store. This would be an example of a(n):

A implied contract

B stealing

C privilege

D express contract

Question #18

A person who is judged to be of unsound mind is known as a(n):

A incompetent

B loony

C incapacitated youth

D minor

Question #19

Some of the ways in which contracts may be classified include:

A void

B voidable and void

C valid, voidable, and void

D valid

Question #20

Which of the following is NOT a method of becoming an emancipated minor:

A reaching the age of 16 years old

B marrying

C being declared self-supporting by the courts

D being a member of the armed forces

Question #21

When a person misrepresents a material fact, knowing that it is not true, or is carelessly indifferent to the truth of the stated facts, it is known as:

A puffing

B lying

C fraud

D none of the above

Question #22

The person who hires or employs an agent to work for him or her is known as:

A third party

B principal

C employer

D contractor

Question #23

A Fiduciary relationship requires which of the following with the principal:

A reasonable skill and care

B good faith and fair dealing

C honesty, loyalty, integrity

D none of the above

Question #24

A required form, provided by the seller, which identifies items of value attached to the structure or land and states whether these items are operational is called a(n):

A list of items working

B operational form

C transfer disclosure statement

D none of the above

Question #25

A contract to employ a broker as an agent, to do certain things for the seller is known as a(n):

A agency

B listing

C power of attorney

D employment contract

Question #26

Mixing the funds of a principal and a licensee is known as:

A joint account

B mixed funding

C commingling

D trust account

Question #27

A person who works under the direct control and supervision of the employer is known as a(n):

A independent contractor

B employee

C subagent

D all of the above

Question #28

An authorization to sell a property which may be given to several brokers, or the property may be sold by the owner is called:

A non-exclusive listing

B general property listing

C open listing

D free-for-all

Question #29

A wrongful unauthorized placement of improvements or permanent fixtures on a property by a non-owner of that property is called:

A wrongful use

B zoning ordinance

C prescriptive use

D an encroachment

Question #30

A voluntary lien, for money owed, placed over more than one parcel is called a(n):

A blanket encumbrance

B multi-parcel lien

C tax lien

D none of the above

Question #31

The restriction on the use of private property by the local government agency is called:

A code enforcement

B zoning

C regulations

D government restrictions

Question #32

A lien filed against a property by a person who was not paid after furnishing labor or materials for construction work on that property is called a(n):

A unpaid lien

B mechanic’s lien

C security lien

D voluntary lien

Question #33

An Easement by Prescription requires which of the following to be valid:

A open and notorious use

B all answers are correct.

C hostile use

D 5 years continuous use

Question #34

An easement that is “created for and beneficial to” the owner of adjoining or attached lands is which type of easement?

A Easement approximate

B Easement non-encumbering

C Easement abutting

D Easement appurtenant

Question #35

A document that uses a property to secure the payment of a debt or the discharge of an obligation is called a (n):

A lien

B tax Assessment

C grant deed

D I.O.U.

Question #36

When a landlord discovers that work is being done on the property without the landlord’s consent, he should:

A post a Notice of Non-Responsibility on the property

B issue a 3-day pay and quit notice

C terminate the tenancy

D file a mechanic’s lien against the tenant

Question #37

The two major types of freehold estates are:

A remainder and reversion

B fee simple and life estate

C life and remainder

D fee simple and defeasible

Question #38

All property acquired by a husband and wife during their marriage other than separate property is called:

A community goods

B community property

C combined property

D inheritances

Question #39

When two or more people have identical interests in the whole property with the same right of possession and the right of survivorship, this is called:

A corporate interests

B joint tenancy

C a limited partnership

D unity in possession

Question #40

A signed or verbal statement by the named person that he/she has signed that document of his/her own free will is known as:

A verification

B acknowledgment

C actual notice

D recording

Question #41

Susie owns a life estate based upon her own life. She leases the property to a tenant on a three-year lease. Susie, the life tenant, dies two years later. What happens to the lease?

A The lease is terminated

B The lease is automatically renewed

C The lease remains intact

D The lease can be renegotiated

Question #42

An interest, share, right or equity in real estate that varies from the minimal right of a renter to the maximum right of full owner is called a(n):

A equity share

B estate

C ownership

D lease

Question #43

Anything permanently attached or affixed to the land is called:

A real Property

B attachments

C personal property

D fixtures

Question #44

Which of the following is NOT a basic right of ownership included in the “Bundle of Rights”?

A Sustainability

B Enjoyment

C Possession

D Disposition

Question #45

How many principal base and meridian line intersections does California have?

A 4

B 2

C 1

D 3

Question #46

Which of the following can transfer ownership of trade fixtures and personal property?

A Bill of Sale

B Transfer document

C Invoice

D Bill of Lading

Question #47

An area of land that contains 43,560 square feet is called a(n):

A hectare

B perimeter

C township

D acre

Question #48

Township lines divide the land into a series of east-west strips called:

A streets

B levels

C tiers

D sections

Question #49

Anything attached to the land, such as buildings, fences, walls, walks and shrubs, are called:

A incorporated items

B permitted items

C improvements

D enhancements

Question #50

Items of personal property that are attached to, or incorporated into, the land in such a manner as to become real property are called:

A attachments

B furniture

C fixtures

D incorporated items

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Fresh Grad Lands Job as Real Estate Agent With Help from Professional Writers

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