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.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
- 2.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
- 3.Gross leases are most often used with:
- A.
Residential property
- B.
Retail space
- C.
Office space
- D.
Shopping malls
- 4.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
- 5.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
- 6.Who signs the promissory note and mortgage?
- A.
Mortgagor
- B.
Mortgagee
- C.
Lender
- D.
Beneficiary
- 7.The ultimate test of functional utility is:
- A.
Maintenance costs
- B.
Design
- C.
Utility costs
- D.
Marketability
- 8.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
- 9.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
- 10.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
- 11.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
- 12.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
- 13.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
- 14.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
- 15.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
- 16.Which of the following is an appraiser's primary concern in the appraisal of a residential subdivision?
- A.
Square foot area of each home
- B.
Marketability and acceptability
- C.
Functional utility
- D.
The adjoining neighborhood
- 17.A statement that discloses the presence of various environmental hazards includes disclosures for which of the following substances?
- A.
Asbestos
- B.
Lead based paint
- C.
Radon gas
- D.
All of the choice are correct
- 18.When determining the value of a property, which of the following dates is the most important to an appraiser?
- A.
The date the contract was signed
- B.
The date the loan was funded
- C.
The date the transaction was recorded;
- D.
The date the escrow closed
- 19.The fiduciary relationship between an agent and the principal is comparable to the relationship between:
- A.
Trustor and beneficiary
- B.
Mortgagor and mortgagee
- C.
Trustor and trustee
- D.
Trustee and beneficiary
- 20.A real estate appraiser reduced his opinion of the value of a home because the local sewer system was in poor condition and in need of repair. This loss in value would be classified as:
- A.
Physical obsolescence
- B.
Functional obsolescence
- C.
Physical deterioration
- D.
Economic obsolescence
- 21.When an owner acquires land which includes riparian rights, such riparian rights:
- A.
Give the owner absolute ownership of the water
- B.
Must be expressed in the trust deed
- C.
May be determined accurately from an examination of public records at the County Recorder's Office
- D.
Concern the use of moving water, such as a stream or brook within the watershed
- 22.A tenant leased a building from an owner. The owner then sold the building to a new owner. The tenant's financial situation changed after the building was sold. Which of the following is true?
- A.
The new owner can make the lessee pay-off the lease
- B.
The change in lessee's financial situation is none of the new owner's business
- C.
The new owner can increase the security deposit required from the tenant
- D.
The new owner can raise the rent
- 23.Which listing must contain this statement, "the amount of our rate of commission is not fixed by law. It is set by each broker individually and may be negotiable between the seller and broker."
- A.
A listing on a 50 unit apartment building
- B.
A listing on a commercial building
- C.
A listing on a building used for manufacturing
- D.
A listing on one-to-four residential units
- 24.The primary purpose of a site analysis by an appraiser is to determine the:
- A.
Applicable zoning laws
- B.
Highest and best use
- C.
Soil condition
- D.
Available amenities
- 25.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.
Questions: 25 | Attempts: 4722 | Last updated: Apr 21, 2022
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Sample QuestionThree of the following real estate terms are closely associated. Which term does not belong to the group?
Questions: 50 | Attempts: 2435 | Last updated: Mar 22, 2022
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Sample QuestionA real estate broker is reviewing a profit and loss statement for an apartment house, which lists expenses under the headings shown below. Under which heading would she most likely find taxes and fire insurance?
Questions: 10 | Attempts: 7579 | Last updated: Mar 22, 2022
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Sample QuestionIn real estate the definition of land includes ONLY what is on the surface of the earth and attached by nature such as trees.
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