CA Real Estate Exam Practice Test
(81).jpg "CA Real Estate Exam Practice Test - Quiz")
Do you want to be a real estate agent? Try this CA real estate exam practice test and check your knowledge regarding the same. Real estate agents aim to help people who are looking to buy a house at a specific place. With that CA Real Estate Exam around the corner, the practice test below is designed to help you see how ready you are for the California real estate salesperson. So, give it a shot, and let's see how much you can score. Wishing you the best of luck!
- 1.As used in real estate practices, the land of a riparian owner borders on:
- A.
A river;
- B.
A stream;
- C.
A watercourse;
- D.
Any of the above.
- 2.Legally and technically, a property is defined as:
- A.
That which is capable of involuntary transfer
- B.
Things with buyers or sellers
- C.
Rights or interests which a person has in a thing owned
- D.
Only personal property
- 3.Royal Bakers bought a farm. At the time of the purchase, the seller Thomson was growing corn on the north 40 acres of the farm. Thomson intended to harvest the corn before the close of escrow but never got around to it. No mention was made of the corn in the sales agreement and/or escrow instructions. Escrow has now closed, Royal Bakers is in possession and it is time to harvest the corn. Who gets to harvest the corn?
- A.
The buyer would have the right to harvest the corn because he always intended to do so
- B.
The buyer would get to harvest the corn because it goes with the land and is considered real property
- C.
The buyer would get to harvest the corn because of his equity in the corn
- D.
The seller would get to harvest the corn because the corn is his personal property and was not mentioned in the sales agreement
- 4.Which of these is an example of a freehold estate?
- A.
The interested created by a trust deed
- B.
An estate at will
- C.
A life estate
- D.
A leasehold estate
- 5.Which of the following appraisal reports would be (is) the most comprehensive and complete?
- A.
Narrative report
- B.
Abbreviated report
- C.
Letter form report
- D.
Short form report
- 6.A seller is required to deliver the Homeowner's Guide to Earthquake Safety to the buyer of any one-to-four-unit residential properties built prior to:
- A.
1952
- B.
1960
- C.
1960
- D.
1975
- 7.Gross leases are most often used with:
- A.
Residential property
- B.
Retail space
- C.
Office space
- D.
Shopping malls
- 8.When a tenant voluntarily moves out of his apartment with the intention to never return, it would be described as:
- A.
Abandonment
- B.
Notice to quit
- C.
Eviction
- D.
Adverse possession
- 9.Broker Jones represented a young man in the sale of his home. Broker Jones did not consider the age of the young man when he listed and sold the home. After the grant deed had been signed and delivered into escrow, the title company discovered the young man who signed the deed was not yet 18 years old and was not emancipated. The grant deed would be:
- A.
Illegal
- B.
Void
- C.
Binding
- D.
Valid
- 10.Who signs the promissory note and mortgage?
- A.
Mortgagor
- B.
Mortgagee
- C.
Lender
- D.
Beneficiary
- 11.Each of the following elements must be established to obtain an easement by prescription, except:
- A.
Use of the property which is hostile and adverse to the true owner
- B.
The existence of a claim of right or color of title
- C.
Open and notorious use which is continuous and uninterrupted for a period of five years
- D.
A confrontation with the true owner
- 12.The ultimate test of functional utility is:
- A.
Maintenance costs
- B.
Design
- C.
Utility costs
- D.
Marketability
- 13.Private restrictions on the use of land may be created by:
- A.
Private land use controls
- B.
Written agreement
- C.
A developer's general plan restrictions a subdivision
- D.
All of the above
- 14.Government land use, planning, and zoning laws are important examples of:
- A.
The exercise of eminent domain
- B.
Use of police power
- C.
Deed restrictions
- D.
Escheatment
- 15.Generally, when the government forces the sale of private land for public use it is governed by the due process of law and is accomplished through:
- A.
The exercise of the police power
- B.
Eminent domain
- C.
Estate in reversion
- D.
Escheat
- 16.Linda applied for a real estate loan. The loan application requested her to disclose her race and marital status. What can she do?
- A.
Refuse to fill out that portion of the loan application
- B.
Sue the lender and the real estate broker
- C.
Nothing
- D.
Completely fill out the loan application if she wants to get the loan
- 17.Joseph and Maria, husband and wife, own a home as community property. If only one spouse signed the listing to sell the property, the agreement is:
- A.
A legal contract
- B.
An unenforceable contract
- C.
An unbinding contract
- D.
A violation of the Statute of Frauds
- 18.Puffing defines the method by which an agent
- A.
Convinces the seller to pay a greater commission than is typical for the area
- B.
Convinces an appraiser to report a greater appraised value to the lender
- C.
Convinces the seller during his listing presentation that the he is well connected in the neighborhood
- D.
Exaggerates the features or condition of the property
- 19.If one party agrees to indemnify another for a named loss in return for periodic payments, it is called:
- A.
A fidelity bond
- B.
Insurance
- C.
Performance agreement
- D.
None of the above
- 20.Which of the following option highlights an example of police power?
- A.
A condemnation action on the property for construction of a freeway
- B.
CC&Rs placed in a deed by a developer
- C.
Enforcement of contracts by equitable civil proceedings in court
- D.
Zoning laws which restrict and limit the use of land
- 21.A bona fide listing to sell real property must contain:
- A.
Consideration, mutual consent, competent parties, and writing
- B.
Consideration, mutual consent, capable parties expressed time element and price
- C.
Capable parties, mutual consent, lawful object, consideration, and be in writing
- D.
Consideration, price, lawful object, competent parties, and legally sufficient writing
- 22.The reason an appraiser determines the value of an income producing property as of a "given date" is to indicate:
- A.
The age of the improvements as of a given date
- B.
The date the appraiser inspected the property
- C.
The market conditions influencing the value of the property as of a given point in time
- D.
The value of the seller's equity as of a given date
- 23.Joe owned a grocery store and wanted to raise some money. He decided to sell his land and building to an investor and leased it back to himself in order to continue running his grocery store there. Which of the following would be a tax benefit to Joe?
- A.
All capital gains for Joe are deferred
- B.
Joe has a new tax base for his future depreciation of the building
- C.
Joe's rent payments to the investor will be fully deductible for income tax purposes as a business expense
- D.
None of the above
- 24.After an appraiser has collected all the data, what is the next step in the appraisal process?
- A.
Simply average out the value estimates
- B.
Reconcile or correlate the adjusted sales price of the comparables
- C.
Assign appropriate value to individual estimates and average the total number
- D.
Give an opinion of value
- 25.Mr. and Mrs. Nasr were denied a home loan due to a very negative credit report. They obtained a copy of the report and found that the critical information contained in the report was false. They sent the credit reporting agency all the information necessary to disprove the false information and requested that the agency correct their records. If the credit reporting agency fails to correct the information in their files, the Nasrs could file a court action and seek:
- A.
Actual damages
- B.
Attorney's fees, and court costs
- C.
Punitive damages
- D.
Any of the above
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