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 Statewide Buyers and Seller Advisory.

C National Hazard Disclosure.

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 Penalty Clause

C Termination Clause

D Restrictive Clause

Question #3

Real estate laws in California apply to:

A commercial property.

B 1- to 4-unit residential property.

C all answers are correct.

D vacant land.

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 licensed agent.

B principal broker.

C broker associate.

D unlicensed agent.

Question #6

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

A Wire Fraud and Electronic Funds Transfer Advisory

B Sellers Advisory

C All answers are correct

D Disclosure Regarding Real Estate Agency Relationship

Question #7

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

A forbearance

B abandonment

C surrender

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 eviction notice

B court order

C 3-day notice to pay rent or quit

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 trust account

B vacating fee

C goodwill

D security deposit

Question #10

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

A fees

B dues

C rent

D booty

Question #11

Minimum requirements of a lease include which of the following:

A description of property

B length or duration of the lease

C all answers are correct.

D amount of rent

Question #12

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

A Estate at sufferance

B Hostage possession

C Reversionary right

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 unlawful detainer

B eviction

C lawsuit

D three-day notice to pay

Question #14

Which of the following can discharge a contract?

A Full performance

B Operation of law

C all answers are correct.

D Impossibility of performance

Question #15

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

A a deposit

B consideration

C a gift

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 unilateral contract

C implied contract

D bilateral 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 express contract

B implied contract

C stealing

D privilege

Question #18

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

A minor

B loony

C incompetent

D incapacitated youth

Question #19

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

A valid, voidable, and void

B voidable and void

C valid

D void

Question #20

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

A reaching the age of 16 years old

B being a member of the armed forces

C marrying

D being declared self-supporting by the courts

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 lying

B fraud

C puffing

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 employer

B principal

C contractor

D third party

Question #23

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

A good faith and fair dealing

B reasonable skill and care

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 transfer disclosure statement

B list of items working

C operational form

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 listing

B power of attorney

C agency

D employment contract

Question #26

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

A trust account

B commingling

C joint account

D mixed funding

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 general property listing

B free-for-all

C open listing

D non-exclusive 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 prescriptive use

B zoning ordinance

C an encroachment

D wrongful use

Question #30

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

A multi-parcel lien

B tax lien

C blanket encumbrance

D none of the above

Question #31

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

A government restrictions

B regulations

C zoning

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 security lien

C voluntary lien

D unpaid lien

Question #33

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

A open and notorious use

B 5 years continuous use

C hostile use

D all answers are correct.

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 abutting

C Easement appurtenant

D Easement non-encumbering

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 grant deed

B I.O.U.

C tax Assessment

D lien

Question #36

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

A file a mechanic’s lien against the tenant

B issue a 3-day pay and quit notice

C post a Notice of Non-Responsibility on the property

D terminate the tenancy

Question #37

The two major types of freehold estates are:

A fee simple and defeasible

B life and remainder

C fee simple and life estate

D remainder and reversion

Question #38

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

A community property

B combined property

C community goods

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 a limited partnership

B corporate interests

C joint tenancy

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 actual notice

B acknowledgment

C recording

D verification

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 automatically renewed

B The lease remains intact

C The lease is terminated

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 estate

B ownership

C equity share

D lease

Question #43

Anything permanently attached or affixed to the land is called:

A fixtures

B personal property

C attachments

D real Property

Question #44

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

A Enjoyment

B Sustainability

C Possession

D Disposition

Question #45

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

A 1

B 2

C 4

D 3

Question #46

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

A Bill of Sale

B Invoice

C Bill of Lading

D Transfer document

Question #47

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

A hectare

B acre

C perimeter

D township

Question #48

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

A sections

B tiers

C streets

D levels

Question #49

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

A incorporated items

B improvements

C enhancements

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 attachments

C furniture

D incorporated items

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