1.
A title was recorded for a parcel of real property vested in the name of Johan Wilson, a single woman. After her marriage to William Roberts, she executed a deed to the property only in the name of Johan Roberts, a married woman. The discrepancy in the grantor's name is.
A. 
Valid if William Roberts agrees to it
B. 
A defect on title that may cause title to be vested as tenants in common
C. 
Immaterial if the propety is properly describe
D. 
A defect which may cause a cloud on the title
2.
Which Contract would be the most difficult for a buyer to obtain financing?
A. 
B. 
C. 
D. 
3.
When a broker runs an advertisement, the broker must disclose:
A. 
B. 
C. 
Name of broker and salesperson
D. 
4.
Following in-house sales are true, except:
A. 
A listing agent can act as a dual agent
B. 
The listing broker can act as a buyer's agent only
C. 
The broker may purchase the property himself
D. 
The seller may represent the seller only
5.
The Federal Housing Administration (FHA) was created primarily:
A. 
To provide insurance for home loanis in the secondary market
B. 
C. 
To provide insurance for home loans made by approved lender
D. 
To improve the economy for mortgage bankers
6.
Which of the following loans on a home would probably be made without requiring a down payment from the borrower?
A. 
B. 
C. 
D. 
7.
A person who wishes to purchase a home using the Cal-Vet program would send his application to:
A. 
Department of Real Estate
B. 
C. 
Department of Veterans Affairs
D. 
8.
The item that would appear on the debit side of a buyer's closing statement would be:
A. 
B. 
C. 
D. 
9.
When dealing with the public, a broker may not:
A. 
Disclose any of his duties to other agents
B. 
Remain silent concerning material facts about a property know only by himself
C. 
Reject a listing if it is discriminatory or overpriced for minorities
D. 
10.
Which of the following is the reason that a real estate agent must keep his principal informed of material facts concerning a pending real estate transaction?
A. 
When the agent is a fiduciary
B. 
When it's printed on the purchase agreement
C. 
When the agent concerned with the commission which seller is paying
D. 
When the broker works only for the seller
11.
A buyer relied upon the fraudulent statement of the seller's agent and was damaged. The seller was unaware of the agents's false statement, and he tried to enforce the agreement. The buyer:
A. 
Could sue the seller for fraud
B. 
Could sue the seller's agent for fraud
C. 
Has sufficient grounds for rescission
D. 
Could do any of the the above
12.
Lenders know that the lower the loan-to-value ratio, the higher the:
A. 
B. 
C. 
D. 
13.
An offer to purchase a real estate could be terminated in all of the following ways, except:
A. 
Acceptance with a counter offer to the offeror
B. 
Failure to communicate notice of revocation before the other party has communicated his acceptance
C. 
Death of offeree or offeror
D. 
Expiration of time to accept an offer
14.
In which of the following contract will apply if one of the parties agrees not to revoke an offer for a certain period of time:
A. 
Exclusive right to sell listing
B. 
C. 
D. 
15.
For Federal Income Tax purpose, the capital expenditures for improvements are:
A. 
B. 
Subtracted from the cost basis of the property
C. 
Added to the cost basis of the property and depreciated
D. 
16.
A property sold for $150,000 in a county which had established a documentary transfer tax rate of $.55 for each $500. Of the purchase price of $150,000, only $125,000 was subjected to tax. Which of the following is nearest to the tax amount that would have to be paid?
A. 
B. 
C. 
D. 
17.
Leland uses an 8% capitalization rate for a 40-unit apartment building that generates $174,000 net income. Which of the following is the most appropriate value of this property?
A. 
B. 
C. 
D. 
18.
A broker is negotiating a 25-year commercial lease at a straight annual rental of $30,000. The broker is to recieve a compensation for negotiating this lease as follows: 7% of the annual rental for the first year, 5% of the annual rental for the next four years, 3% of the annual rental for each of the next fifteen years; and 1% of the annual renatl for every year thereafter during the term of the lease. By the end of the 19th year, the broker will have recieved a total commission of most nearly:
A. 
B. 
C. 
D. 
19.
A salesman was to receive a 45% share of a 6% gross commission. He received $8,100. The property was sold for:
A. 
B. 
C. 
D. 
20.
Two brokers agreed to split a 4 1/2 % commission on a 50-50 basis on the sale of a property for $162,500. The listing salesperson agreed to a 50-50 split with his employing broker. What would be the commission amount for the listing salesperson?
A. 
B. 
C. 
D. 
21.
Buyer Parker paid $4.40 per square foot to purchase a 20,000 square foot lot. If the parcel is in rectangular shape and 200 feet deep, the approximate cost per front foot would be:
A. 
B. 
C. 
D. 
22.
A deed:
A. 
Does not have to be recorded to transfer title
B. 
Has to be recorded to be valid
C. 
D. 
Can only be recorded by the lender
23.
Of the following types of deeds, which one would contain no warranties and expressed or implied:
A. 
B. 
C. 
D. 
24.
An easement could be created for what length of time:
A. 
B. 
C. 
D. 
25.
Land that is subject to an easement is said to be:
A. 
B. 
C. 
D.