The 'Core Exam Prep 2 Real Estate' quiz assesses knowledge in real estate law, focusing on joint tenancy, mortgages, and contractual disputes. It prepares learners for real estate licensure and enhances understanding of property rights and legal implications in real estate transactions.
By the execution of a mortgage or deed of trust by one joint tenant creating a lien against his interest
A foreclosure by one of the joint tenants
One of the joint tenants transfers his interest to a third party
One of the joint tenants selling his interest
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A mortgage
A trust deed
Blanket mortgage
Security mortgage
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Sells his or her share
Transfer his or her share
Mortgages his or her share
Deeds his or her share to a co-owner
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Interpleader action
Court action
Judicial action
Attorney
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Nature of the contingency
Duration of the contingency
Method how to remove the contingency
All of the above
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Revoke or suspend the agent’s license
Cancel the license for 150 days
Suspend the license for 3 months
Suspend the license for 1 year
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Material to contrary
Information known by the broker that is false
False information to bind a buyer to a contract
All of the above
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His Interest on the property
The net amount to the seller
Commission disclosure
All of the above
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To transfer title
To be acknowledged
The evidence in change of title or an interest
To be recorded in the county recorders office to be valid
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Automatically cancelled and she needs to re-list the properties for the clients
Automatically cancelled
May be cancelled only in writing and approved by the daughter
Must be cancelled within 24 hours or the listings are automatically transfer to the daughter
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Show him properties as any other client
Show him properties only in areas he decides to
Provide information about the ethnicity of the neighborhood
Show properties in areas where Hispanic population is greater
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Zoning
Condemnation
Eminent domain
Inverse condemnation
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Trees
Buildings
Water rights
All of the above
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Signed the purchase agreement
Communicated offer and acceptance from seller to buyer
Communicated the offer to the seller
Accepted a deposit first
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Revoking the final public report
Filling an accusation
Suspending the developer’s contractor’s license
Issuing a desist and refrain order
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Copy of the CC and R’s
Copy of the by laws
Copy of the most recent financial statement of the association
All of the above
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Orientation
Topography
Elevation
Foundation plan
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Offer and delivery
Offer and acceptance
Acceptance from buyer
Acceptance from seller to seller’s agent
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Listing agreements
Purchase agreement
Manufacturing
Commercial leases
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Seller
Buyer
Both buyer and seller
Lender
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Higher loan to value ratio
Lower payments
Lower interest rates
Lower loan to value ratio
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Note
Trust deed
Cash
All of the above
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$193,000
$136,000
$200,000
$190,000
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Quiet title action
Trust deed
Quitclaim deed
Mortgage
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Tenants in common
Free and clear of debts from the brother
Lien on the property from the debts from the brother
To pay only half of the brother’s debts
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Cause prices to drop as demand is decrease and supply increases
High prices of a product with demand and supply lags
Demand and supply of a product with a decrease of buyers
Decrease on land and construction
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Both broker and salesperson may be subject for prosecution
Only the agent will prosecuted by the department of real estate
Only the broker will be prosecuted by the department of real estate
The broker’s conduct is acceptable no should receive referral fees
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Return the deposit and sue buyer for his commission
Return only half of the deposit to the buyer
Return the deposit as instructed
The agent may collect his commission in court from the seller
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Power of attorney
Grant deed
Reconveyance deed
Attorney in fact
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Cost approach is use in new construction
Cost approach is use for special properties
Cost approach is use for commercial building
Cost approach sets the lower limits of value
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Homeowners insurance
Extended policy
Standard policy
No policy covers everything
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Compare to rentals and comparables in the area
Determined by square footage
According to the type of neighborhood
Obtained from the assessor’s value
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Beneficiary
Lender
Escrow
Trustee
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Amendment
Replacement
Novation
Renew
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Brown is relieve from future liabilities
Brown is liable for the loan
Fuentes is not primary responsible for the loan
Brown and Fuentes are liable
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Intention
Agreement
Cost
Relationship
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Intention
Agreement
Time
Relationship
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Court ordered
Real estate commissioner
Board of directors
The administrator
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Is valid only when is signed, but for some reasons, it cannot prove by either party
Contains all legal requirements but may be cancelled by anyone
Is valid and enforceable on its face, but it may be rejected by one of the parties
Is a contract with no legal effect
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Immovable by law
Movable
Personal exclusively
Transferable by a bill of sale
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Property lines
Zoning
Legal incompetence of the grantor
Property survey
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Taxes
Trust deed
Judgment
Restrictions
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Employee of the broker he/she is permitted to work for
Self employed contractor
Employee of the broker and the broker must pay for medical insurance
Self employed and employee of the broker
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A buyer is fully informed about known defects before bind to contract
Only if buyer asks for a transfer disclosure
The property is finance through a private investor
Only if the property needs major repairs
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Shopping center
Electronic assembly
Medical dental building
Industrial park
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$20,000
$10,000
$100,000
$50,000
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Broker
Salesperson
Seller
Buyer
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Trustee
Trustor
Beneficiary
Mortgagee
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Quiz Review Timeline (Updated): Mar 21, 2023 +
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