ARE YOU READY?
LET’S PRACTICE!
#1. What is the role of a fiduciary in real estate?
#2. Which of the following is not a type of freehold estate?
#3. When does title transfer in a real estate transaction?
#4. What is the legal term for ownership of land and buildings?
#5. Who signs a deed to transfer title?
#6. Which term refers to a sudden loss of land by water?
#7. What does RESPA regulate?
#8. What is the effect of recording a deed?
#9. What is the primary purpose of title insurance?
#10. Which of the following is not an essential element of a contract?
#11. The term ‘emblements’ refers to:
#12. A lease agreement for a definite period is:
#13. An estate at sufferance occurs when:
#14. Which of the following is not a physical characteristic of land?
#15. A real estate agent who fails to disclose dual agency may face:
#16. Which entity typically governs local building codes?
#17. Which of the following is NOT a requirement for a valid deed?
#18. A broker must deposit trust funds within:
#19. A preliminary title report shows:
#20. In California, mobilehomes are transferred with:
#21. An agent’s duty of loyalty means:
#22. Who is responsible for paying property taxes?
#23. The cost approach is best for:
#24. What is the difference between a deed and a title?
#25. The secondary mortgage market involves:
#26. A sale-leaseback is primarily used for:
#27. The principle of progression refers to:
#28. Which of the following is a type of leasehold estate?
#29. A broker working independently is known as:
#30. What does the term ‘curable depreciation’ refer to?
#31. Which of the following is a contract discharge method?
#32. A real estate auction without reserve means:
#33. What is the purpose of a loan estimate?
#34. What is the impact of a short sale?
#35. A promissory note is evidence of:
#36. Which of these would be considered a latent defect?
#37. Which act prohibits price fixing?
#38. A ‘holdover tenant’ is someone who:
#39. A deed restriction is also called:
#40. The right of a government to regulate private property is:
#41. Which term means transferring a right or contract?
#42. How many hours of ethics training are required every 4 years?
#43. What does the acronym PITI stand for?
#44. Which party must sign a lease?
#45. Who prepares the closing disclosure?
#46. A grant deed must be:
#47. What is the purpose of a contingency clause?
#48. In California, how long is a broker license valid?
#49. The purpose of earnest money is to:
#50. Which entity prosecutes real estate law violations?
