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LET’S PRACTICE!
#1. What is the primary purpose of the Real Estate Law in California?
#2. Which of the following is considered real property?
#3. What type of listing gives a broker the greatest assurance of receiving compensation?
#4. Which of the following actions is illegal under the Unruh Civil Rights Act?
#5. The Subdivision Map Act is primarily enforced by:
#7. The standard policy of title insurance does NOT cover:
#8. What is a tenancy in common?
#9. Which law requires disclosure of lead-based paint in homes built before 1978?
#10. What is “boot” in a 1031 tax-deferred exchange?
#11. An agency relationship requires:
#12. A licensee misrepresents a material fact to a buyer. This is considered:
#13. Which of the following is not an essential element of a valid contract?
#14. A broker owes fiduciary duties to:
#15. The maximum commission a broker may charge is:
#16. A lender’s policy of title insurance protects the:
#17. Eminent domain involves:
#18. An acceleration clause in a loan document means:
#19. Which appraisal method is best for valuing vacant land?
#20. The Real Estate Commissioner is appointed by:
#21. What is the effect of a recorded deed?
#22. A person who dies without a will is said to die:
#23. A broker can legally refuse to present an offer to the seller if:
#24. Which type of depreciation is generally incurable?
#25. A land contract is also known as a:
#26. The term “or more” in a promissory note allows the borrower to:
#27. If a property is being “alienated,” it is being:
#28. Which of the following is not required for a valid deed in California?
#29. A real estate salesperson can work for:
#30. Which of the following best describes “blockbusting”?
#31. If a seller backs out after signing a valid contract, the buyer may:
#32. A mortgage loan broker must provide a Mortgage Loan Disclosure Statement when:
#33. The value of a property based on the present worth of future benefits is:
#34. When is the commission paid to a broker?
#35. What is the minimum age to obtain a California real estate license?
#36. The term “estate” refers to:
#37. A deed restriction is created by:
#38. An escrow company acts as a:
#39. What is a balloon payment?
#40. A buyer gives the seller a deposit check made out to the broker. What must the broker do?
#41. Which document transfers title in a foreclosure?
#42. A dual agency is legal in California if:
#43. “Time is of the essence” means:
#44. A property manager owes fiduciary duties to:
#45. The capitalization rate is used in:
#46. What is the purpose of a home inspection?
#47. What type of loan allows a borrower to obtain future advances?
#48. A “hold harmless” clause:
#49. A “quiet title” action is used to:
#50. What is required to obtain a California real estate license?
