ARE YOU READY?
LET’S PRACTICE!
#1. What does a real estate license authorize you to do?
#2. Who typically pays for the pest inspection in California?
#3. Which of the following is a legal requirement for a deed?
#4. What does ‘chain of title’ refer to?
#5. What is the purpose of a deed of trust?
#6. How is earnest money typically handled?
#7. Which of these is a physical characteristic of real property?
#8. What is the purpose of a property disclosure statement?
#9. What is an open listing?
#10. What does the due-on-sale clause do?
#11. A mortgage broker primarily:
#12. A real estate salesperson is supervised by:
#13. A special agent is authorized to:
#14. Which document outlines loan terms before closing?
#15. Which of the following is not considered an improvement?
#16. When must trust funds be deposited?
#17. What is a defeasance clause?
#18. How long must a broker keep transaction records?
#19. What is required for a valid contract?
#20. The term ‘reversionary interest’ applies to:
#21. What is the purpose of a home warranty?
#22. What is an exclusive agency listing?
#23. How is a bilateral contract formed?
#24. Which of these is an example of economic obsolescence?
#25. What does ‘title vesting’ mean?
#26. The Americans with Disabilities Act applies to:
#27. What is the minimum requirement for subdivision public report?
#28. A real estate investment trust (REIT) must have at least:
#29. What is the role of the escrow agent?
#30. Which party provides the earnest money?
#31. Who regulates mortgage loan originators in California?
#32. What is the difference between a lien and an easement?
#33. An executed contract means:
#34. Which of the following is a real estate syndicate?
#35. Who determines the listing price of a home?
#36. What does the term ‘constructive notice’ mean?
#37. Which of the following is not appurtenant to real property?
#38. What is a lis pendens notice?
#39. Which appraisal method is used for income-producing property?
#40. Which of these is not part of the bundle of rights?
#41. What is the legal process of verifying a document?
#42. A lease option gives the tenant:
#43. What is dual agency?
#44. What is an appraiser’s primary role?
#45. When is a deed considered delivered?
#46. Which of these is considered consideration in a contract?
#47. Who pays the commission in a typical real estate sale?
#48. What is the most accurate form of legal property description?
#49. What is the primary reason for a final walk-through?
#50. What is the purpose of an amortization schedule?
