CA Real Estate Practice Exam #1
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A real estate agent is designed to give some help to someone who is looking to buy a house in a specific location. Have a passion for selling houses? With that CA real estate practice exam around the corner, the practice test below is designed to help you see how ready you are for the California real estate salesperson. Give it a shot!
- 1.
- A.
A river;
- B.
A stream;
- C.
A watercourse;
- D.
Any of the above.
- 2.
- A.
Eminent domain
- B.
Prescription
- C.
Appropriation
- D.
Percolation
- 3.
- A.
The buyer only
- B.
The seller only
- C.
Both the buyer and seller
- D.
Neither the buyer nor the seller
- 4.
- A.
Be dated
- B.
Contain an acknowledgment
- C.
Have the seller's signature
- D.
Be verified and recorded
- 5.
- 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
- 6.All property is either real property or personal property. Which of the following would normally be considered real property?
- A.
Natural growing vegetation
- B.
Trade fixtures
- C.
Lumber in a lumber yard
- D.
Crops which have been sold prior to harvest
- 7.
- 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
- 8.
- A.
CPI is based upon all consumer purchases
- B.
More people buy homes than buy businesses
- C.
Housing impacts economy
- D.
Housing is one of the largest expenses for consumers
- 9.Which of the following 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
- 10.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
- 11.When a judgment has been recorded, it provides:
- A.
Voidable notice
- B.
Constructive notice
- C.
Actual notice
- D.
Contingent notice
- 12.
- A.
1952
- B.
1960
- C.
1960
- D.
1975
- 13.
- A.
Residential property
- B.
Retail space
- C.
Office space
- D.
Shopping malls
- 14.
- A.
$33.00
- B.
$66.83
- C.
$67.10
- D.
$100.10
- 15.
- A.
Abandonment
- B.
Notice to quit
- C.
Eviction
- D.
Adverse possession
- 16.
- A.
Illegal
- B.
Void
- C.
Binding
- D.
Valid
- 17.
- A.
Mortgagor
- B.
Mortgagee
- C.
Lender
- D.
Beneficiary
- 18.
- A.
The building is completed
- B.
Notice of completion is filed
- C.
Buyer approves the construction
- D.
Period to file a mechanic's lien has expired
- 19.
- 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
- 20.The ultimate test of functional utility is:
- A.
Maintenance costs
- B.
Design
- C.
Utility costs
- D.
Marketability
- 21.
- A.
Private land use controls
- B.
Written agreement
- C.
A developer's general plan restrictions a subdivision
- D.
All of the above
- 22.
- A.
Oceans and bays
- B.
Rivers or streams
- C.
Underground caves with water
- D.
All of the above
- 23.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
- 24.
- A.
The exercise of the police power
- B.
Eminent domain
- C.
Estate in reversion
- D.
Escheat
- 25.
- 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
- 26.
- A.
A legal contract
- B.
An unenforceable contract
- C.
An unbinding contract
- D.
A violation of the Statute of Frauds
- 27.
- A.
Special Flood Hazard Area
- B.
Very High Fire Hazard Severity Zone
- C.
Earthquake Fault Zone
- D.
All of the above
- 28.
- A.
Lease the property to someone
- B.
Borrow against the property
- C.
Devise the property to his relative
- D.
Sell the property to someone
- 29.
- A.
Uniform Building Code, National Electrical Code, Uniform Plumbing Code
- B.
State Housing Law, Local building codes and Contractors License Law
- C.
Subdivision Map Act, local building codes, city's master plan
- D.
Eminent domain, zoning ordinances, State Housing Law
- 30.
- 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
- 31.
- A.
The seller pays for the entire year
- B.
The buyer pays for the entire year
- C.
The property taxes are divided equally between buyer and seller
- D.
The seller would pay for the first three months of the property tax year (July, August, and September) by proration in escrow. The buyer would pay for the remainder of the tax year plus supplemental taxes based upon the reassessment that was triggered by the sale.
- 32.
- A.
A fidelity bond
- B.
Insurance
- C.
Performance agreement
- D.
None of the above
- 33.
- 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
- 34.
- A.
Disclosures of economic obsolescence
- B.
Selling properties "as is"
- C.
Disclosure of all known material facts regarding the physical condition of the property
- D.
Advising buyers of their right to have their own inspections
- 35.
- A.
They may hold unequal interests in the property
- B.
There is still only one title to the whole property
- C.
If one of the owners dies, her heirs become tenants in common with the surviving co-owners as tenants in common
- D.
Each owner has a separate legal title to his undivided interest in the property
- 36.
- A.
$6,000
- B.
$8,000
- C.
$10,000
- D.
$12,000
- 37.
- 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
- 38.
- 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
- 39.
- 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
- 40.
- 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
- 41.
- A.
Actual damages
- B.
Attorney's fees, and court costs
- C.
Punitive damages
- D.
Any of the above
- 42.
- A.
Square foot area of each home
- B.
Marketability and acceptability
- C.
Functional utility
- D.
The adjoining neighborhood
- 43.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
- 44.
- 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
- 45.
- A.
Trustor and beneficiary
- B.
Mortgagor and mortgagee
- C.
Trustor and trustee
- D.
Trustee and beneficiary
- 46.
- A.
Physical obsolescence
- B.
Functional obsolescence
- C.
Physical deterioration
- D.
Economic obsolescence
- 47.
- 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
- 48.
- 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
- 49.
- 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.
- 50.
- A.
Applicable zoning laws;
- B.
Highest and best use;
- C.
Soil condition;
- D.
Available amenities.
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