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 National Hazard Disclosure.

B Disclosure Regarding Agency Relationship.

C None of the answers are correct.

D Statewide Buyers and Seller Advisory.

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 Restrictive Clause

B Termination Clause

C Penalty Clause

D Safety Clause

Question #3

Real estate laws in California apply to:

A vacant land.

B commercial property.

C all answers are correct.

D 1- to 4-unit residential property.

Question #4

The steps of agency disclosure include:

A confirm.

B elect.

C all answers are correct.

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 unlicensed agent.

B principal broker.

C licensed agent.

D broker associate.

Question #6

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

A Disclosure Regarding Real Estate Agency Relationship

B Wire Fraud and Electronic Funds Transfer Advisory

C All answers are correct

D Sellers Advisory

Question #7

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

A forbearance

B surrender

C abandonment

D lease termination

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 court order

C eviction notice

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 goodwill

B trust account

C security deposit

D vacating fee

Question #10

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

A dues

B rent

C fees

D booty

Question #11

Minimum requirements of a lease include which of the following:

A all answers are correct.

B length or duration of the lease

C amount of rent

D description of property

Question #12

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

A Estate at sufferance

B Reversionary right

C Hostage possession

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 unlawful detainer

C three-day notice to pay

D lawsuit

Question #14

Which of the following can discharge a contract?

A Impossibility of performance

B Full performance

C all answers are correct.

D Operation of law

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 bilateral contract

B unilateral contract

C void contract

D implied 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 privilege

B express contract

C stealing

D implied contract

Question #18

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

A incompetent

B incapacitated youth

C minor

D loony

Question #19

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

A voidable and void

B valid

C void

D valid, voidable, and void

Question #20

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

A being a member of the armed forces

B being declared self-supporting by the courts

C marrying

D reaching the age of 16 years old

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 fraud

B puffing

C lying

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 contractor

C employer

D principal

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 operational form

B list of items working

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 power of attorney

C employment contract

D listing

Question #26

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

A trust account

B mixed funding

C joint account

D commingling

Question #27

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

A employee

B independent contractor

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 general property listing

B free-for-all

C non-exclusive listing

D open listing

Question #29

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

A zoning ordinance

B wrongful use

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 tax lien

B blanket encumbrance

C multi-parcel lien

D none of the above

Question #31

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

A zoning

B government restrictions

C regulations

D code enforcement

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 mechanic’s lien

B unpaid lien

C voluntary lien

D security lien

Question #33

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

A all answers are correct.

B hostile use

C 5 years continuous use

D open and notorious 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 appurtenant

D Easement abutting

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 tax Assessment

B grant deed

C lien

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 terminate the tenancy

C issue a 3-day pay and quit notice

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 defeasible

C life and remainder

D fee simple and life estate

Question #38

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

A combined property

B community goods

C community 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 joint tenancy

B corporate interests

C unity in possession

D a limited partnership

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 remains intact

B The lease is terminated

C The lease can be renegotiated

D The lease is automatically renewed

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 estate

B lease

C ownership

D equity share

Question #43

Anything permanently attached or affixed to the land is called:

A real Property

B fixtures

C attachments

D personal property

Question #44

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

A Disposition

B Sustainability

C Enjoyment

D Possession

Question #45

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

A 1

B 3

C 2

D 4

Question #46

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

A Invoice

B Transfer document

C Bill of Lading

D Bill of Sale

Question #47

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

A hectare

B township

C perimeter

D acre

Question #48

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

A streets

B tiers

C levels

D sections

Question #49

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

A enhancements

B incorporated items

C improvements

D permitted items

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 fixtures

B incorporated items

C attachments

D furniture

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

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