Exam 2

Two friends hold title as joint tenants. One borrowed
money and executed a deed of trust against
the property. In terms of affecting title this action could:

Joint tenant estate held by two joint tenants is severed and ended
by the following EXCEPT:

A man owns six separate parcels of real property. He wants to offer all of the
parcels as security for a mortgage loan. The mortgage that he will obtain will
probably be:

All of the following acts of one joint tenant terminates a joint tenancy except
when the joint tenant:

A conflict in a contract between a buyer and a seller to return
the deposit to the buyer from the trust account, the broker unable to resolve
the problem refers it to a third person the action by the broker is known as:

A contingency in a contract may be created by:

Under the Real Estate Law if an agent is found guilty
of discrimination the Real Estate Commissioner may:

Which of the following is misrepresentation:

Broker Hadley took a listing from Watanabe for 30 days. After the 27th day
Hadley was not successful selling the property so he decided to buy the
property himself. Broker Hadley must present to the seller:

What is a deed:

Before his death Westland had several listings, now Westland's daughter is
taking over the business. In regards to the listings she must:

A Hispanic buyer wants to be shown property in a Hispanic neighborhood. The
real estate agent should:

An example of police power is:

Which of the following may be attached to the land:

The agent who will earn a commission is the one that:

In a new developed subdivision, The Real Estate Commissioner was informed
of misrepresentations made by the developer. The commissioner may stop the
sale of the subdivision by:

Which of the following must be given to a buyer of a condominium unit:

The placement of a building on the land is known as:

A binding contract between the buyer and seller, it must :

CPI refers to:

Who pays the service charge under a FHA loan:

When comparing FHA and Conventional Loans. Conventional Loans offer:

A commission to an agent may be in the form of:

A home sold for $178,000 and leased at $1200. If another home is leased at
$1,300 the value is:

The right of an interest in real property is represented by:

A brother and sister own property as Joint Tenants. The brother died and left
un-secured debts and died penniless. The title to the sister now shows.

Which of the following best refers to sellers market:

A real estate broker discovers that one of the agents was receiving referral fees
from a lender that they do business with. The broker fired the agent and
warned the other agents not to receive any referrals. According to the real
estate law:

Buyer and seller decided to cancel a transaction. The seller instructed the
broker to return the buyer’s deposit. The broker should.

A person using a document to represent another acts as:

In regards to appraisal all of the following are true except:

Which of the following policies covers all risks:

When appraising an old residential property in regards to periodic tenancy:

Bonds, deed of trust and notes held by a third party is known as:

A contract replaced entirely by a new one is known as:

Fuentes purchased Brown's house and agreed to assume the existing mortgage
Which of the following is true:

Which of the following will determine if an item is a fixture , except:

Which of the following will determine if an item is a fixture except:

A commission on the sale of a property through probate will be determine by:

A voidable contract is:

When comparing real property to personal property, real property is:

A standard policy of title insurance will cover against:

Which of the following is not a lien:

Under the Income Tax Law a sales person is:

“As Is” is permitted when:

An appraiser is least concerned with the general state of the economy in appraising

The maximum amount that may be recovered from the Recovery Trust Fund
is:

A blind ad doesn’t identify the:

If a property is under default, possession of the property is held by the:

The Earthquake Hazard Report must be Issued to properties in:

The maximum value of a property do to architectural design and stability of
neighborhood:

A contractor was installing a new hardwood floor and was unpaid, and placed a
lien on the property. The lien becomes effective on:

A master plan shows:

The ordinary repairs on a property are known as:

The Standard policy of title insurance consist of three processes. Which of the
following is not one of the three processes:

When a property is being sold through an option the broker must inform to
the client that he is acting as a:

Capitalization is a process used by real estate appraiser's to:

Conditions affecting interest rates and the availability of loan funds vary over
time. When would it be advantageous for a lender to waive a prepayment
penalty clause contained in a promissory note:

When a broker is representing both buyer and seller on an exchange real
estate transaction, and the broker doesn’t disclose his dual agency to the
parties, the remedy by the buyer and seller are:

When can an agent refuse to transmit an offer:

Which of the following is not a component when operating net income:

Broker Taylor listed a property for $55,000 with instruction from the seller
that the minimum down payment was not to exceed 23%. The broker then
presented an offer with all cash and the seller rejected the offer. What should
the broker do:

A broker has a listing and one of his sales persons sells the listing. This is
known as:

Deed covenants that limited the conveyance of properties to persons of the
minority group, these restrictions:

If the comparable properties has an item that is not present on the subject
property:

A clause on a trust deed that agrees to be on a lesser position is known as:

A document to transfer property from trustee to trustor is when the
trust deed is terminated is:

When an agent is a subagent of the selling broker he is working for:

The path way of an airport is over Omedos home, and loss of value do to the
constant noise of the airport. Omedos legal proceedings against Government
Authorities to purchase his property is called:

The city made a change in zoning that is not permitted in the construction
industry. This is an example of:

The activity of an unlicensed person working for a real estate office, according
to the Department Of Real Estate, the unlicensed person:

An appraiser when appraising a Commercial Building for $550,000 must have a:

According to the Department Of Real Estate, if an agent wants to advertise on the
World Wide Web.

If the seller presented the hazard disclosure statement to the buyer which of
the following is true:

Which of the following is true in regards hazard safety disclosure statement
and transfer disclosure statement:

Which of the following is a violation of the Federal Housing Law according to
periodic tenancy:

Which of the following reports is the most complete:

Deed restrictions may be created by:

A tenant may be justified in abandoning a leased property if the landlord has
constructively evicted the tenant. Which of the following acts would be an
example of constructive eviction:

Nominal rate or normal rate means

Who can order the pest control report:
if sold through the owner:

Roger sold his home, he paid $140 for escrow services, 6% commission, the seller
received $13,583. The sales price is:

An agency relationship is represented by:

A Dual Agency is permitted when:

A written contract between the broker and salesperson has to be in writing
according to:

Riparian rights refers to owners that borders:

A pest control company, according to the Real Estate Rules and regulations
must provide a copy to:

Once a binding contract has been created between buyer and seller the buyer
will receive:

The date in the purchase contract or deposit receipt is the date in that:

The construction industry is regulated by:

If a lender decides to take a deed in lieu of foreclosure the lender:

The Market Data Approach is:

A listing must contain all of the following except

Under the Truth and Lending Law disclosure is presented by the:

The Federal Fair Housing Law declares:

Buyer and seller entered in a contract and the buyer asked the broker to move
into the property before closing escrow the broker must:

Davis sold his friends home in Yolo County. Davis has no license and received
a commission. Who will prosecute Davis:

John entered into a Right to Sell Listing with Broker Otis. John gave Otis $100
to advertise the property. The payment of the $100 to Otis Must:

A broker must have the following in writing any employment agreement with which of the following:

Property may be substituted by:

A Exclusive Agency Listing may be for a period of:

An easement attached to the land is known as:

Cost approach is used in:

All of the following are necessary for a valid contract except:

An appraiser will deduct the vacancy factor of an apartment to arrive at:

An agent is authorized to accept a deposit on behalf of the seller, this clause is
found in which of the following contracts:

A lessee may abandon the property by all of the following except:

Broker Marshall sold to Sanders a property “as is”. Marshall and seller knew
about problems with the plumbing. Sanders, after close of escrow discovered
the problems with the plumbing. If Sanders wants to seek legal proceedings he
will be:

The authority that prohibits an agent from doing an act of fraud is found in:

The legal process to evict a defaulting tenant is called:

Eminent Domain may be exercised by:

What state agency would a consumer contact in order to obtain a written
report disclosing the presence of wood destroying organisms:

A board foot is:

In order for a broker to be able legally to claim a commission on an Exclusive
Right to Sell Listing, which of the following termination dates would be
appropriate:

Amezcua was asked to disclose her ethnicity in the loan application:

If the buyer and seller agree to prorate property taxes as of the date of the
close of escrow, and the escrow closes May 1, and the current annual tax bill of
$1,380 has been paid, the escrow agent would appropriately debit the buyer
for:

When a home is financed under the State of California Veterans Farm and
Home Purchase Plan, which of the following documents is used:

Which of the following is a fiduciary relationship:

The Earthquake Booklet was not necessary if property was built before:

Under which of the following listings can the seller refuse to pay a commission
even if the agent is the procuring cause:

Functional Utility is:

costing $190,000 in a $100,000 home neighborhood. This is an example of:

Which of the following is not a valid reason for the seller to terminate an
Exclusive Listing:

Hanson wants to buy a property and talks to Broker Cohen about that
particular property that he wants to buy. Broker Cohen contacts the property
owner and tells him that Hanson wants to buy his property. The seller tells the
broker that the property is not for sale. Three months later Cohen found out
that the seller entered into a purchasing contract with Hanson. Under these
circumstances Broker Cohen is entitle to:

In applying the principles of the Easton vs. Strassburger Case, Real Estate
Licensees are obligated to give prospective buyers of certain real estate:

Mr. Arturian granted a property to Macy with a condition not to drink alcohol
beverages. Macy’s ownership is now describe as:

The maximum fine that may be imposed by the Real Estate Commissioner
against a broker who pays an unlicensed person for soliciting borrowers or
negotiating real estate loans is:

In the event a person is discriminated against in violation of Title VIII of the
Civil Rights Acts of 1968, that person may seek relief by:

The police power to divide the land into districts is accomplished by:

Which kind of relationship does the salesperson not have:

Which of the following is a commercial acre:

The purpose of the assessment roll, as compiled by the assessor’s office is:

Buyer makes offer to buy a home including all the appliances. Seller is willing
to accept offer, but will not include all of the appliances. Agent crossed out buyer’s
requirement for all appliances without the knowledge or consent of the buyer.
Seller then accepted the “modified offer.” Agent’s action was:

An estate at sufferance is:

  Jack leases a single family dwelling property from Mr. Michaels. After the
lease agreement is signed and Jack moves in, Mr. Michaels insists that Jack sign a
contract agreeing to make substantial capital improvements to the property. This
requirement by the lessor would render the lease contract:

Jackson leased his home to Sullivan with a verbal agreement to sell the
property to Sullivan. Jackson knows that Sullivan has been making significant
improvements to the property in reliance on the verbal agreement.
Jackson now declines to sell the property to Sullivan. Which of the following
best describes the rights of the parties:

Banks loan 80% of appraised value. If the Interest rate is 11%, and the first
year interest was $7,040 , what was the appraised value.

The SW ¼ of the NW ¼ of Sec. 5 is valued at $800 per acre. The S ½ of the NE
¼ of Sec. 8 is valued at $500 per acre, what is the difference in value between the
two parcels:

The original amount of a straight note of that calls for interest payments of $60
per month based on a rate of 8% per annum is:

Wong bought a vacant lot for $17,424, wants to sell the lot and make a 40%
profit after paying a 10% commission. What must he sell lot for:

An investor purchased a trust deed and note at a 20% discount. This was a one
year fully amortized note with a face amount of $4,500 with payments of
$393 per month including 9% interest. If she holds the note for the full year,
the yield on her original investment would be.

On August 5th a borrower gave Broker Gutierrez a personal check for $1,000.
made payable to the seller. The buyer instructed Broker Gutierrez that the
check should be held uncashed until August 30th. Broker Gutierrez must:

Which of the following factors would tend to make real estate values unstable
in a residential neighborhood:

Misuse of the term “Realtor” is:

When the Real Estate Commissioner wishes to proceed against a licensee for a
suspected violation for the Real Estate Law the Commissioner
must first serve the real estate licensee with:

Federal Law requires sellers, landlords and remodels to disclose known
information on lead-based paint. It is assumed that lead-based paint was last
used on homes built before:

When applying the capitalization of net income approach to establish the value
of an income property, which of the following would not be included as an
expense:

Which of the following is not one of the survey systems in California:

John owns a lot that measures 150 feet deep by 50 feet wide. The zoning laws
require a 20 foot front setback and 4 foot setback on both sides and at the back.
The available area is:

The broker has an oral listing to sell real property. The broker presented
an offer which the seller accepted. The seller then requested the broker
to give him the buyer’s deposit check.