Exam (elaborations)
2024 REAL ESTATE PRINCIPLES FINAL EXAM WITH CORRECT ANSWERS
- Course
- Institution
2024 REAL ESTATE PRINCIPLES FINAL EXAM WITH CORRECT ANSWERS
[Show more]
Content preview
2024 REAL ESTATE PRINCIPLESFINAL EXAM WITH CORRECT
ANSWERS
Land which is subject to an easement is said to be: - CORRECT ANSWERS-
Encumbered
Private restrictions on use can include: - CORRECT ANSWERS-Deed
restrictions, easement and rights of way, leases and mortgage notes
Under the law of Agency, a fiduciary relationship is created between the
broker and the seller upon execution of the listing agreement. As far as the
broker's responsibility to third parties, the broker: - CORRECT ANSWERS-Must
be fair and honest
A lease of real property for a fixed period of time at a set rate of rent
creates: - CORRECT ANSWERS-An estate for years
All of the following are personal property except: - CORRECT ANSWERS-
Easements
A valid deed vests title in the grantee when the deed is: - CORRECT
ANSWERS-Delivered
A valid recorded homestead will not protect the homeowner against the
foreclosure of: - CORRECT ANSWERS-A mortgage, a trust deed, or a
mechanic's lien
Anything that is fastened or attached to real property permanently is
considered to be: - CORRECT ANSWERS-Real Property
A quitclaim deed releases all present claims, rights and title of the: -
CORRECT ANSWERS-Grantor
When a creditor wants to satisfy a judgement which was levied against
another person, the creditor would: - CORRECT ANSWERS-Obtain a writ of
execution
, Before a mechanics lien is effective it must be: - CORRECT ANSWERS-Verified
and recorded
Discrimination by a real estate licensee based on race is: - CORRECT
ANSWERS-A violation of the regulations of the Real Estate Commissioner,
against public policy, and unethical
Upon the signing of a real property sales contract: - CORRECT ANSWERS-An
equitable title passes to purchaser
All California Real Estate Laws are created by: - CORRECT ANSWERS-Acts of
the legislature
The 36 sections in a township are numbered from 1 through 36. Section 1 is
located in the: - CORRECT ANSWERS-Northeast corner
Which of the following would be a discriminatory act under the
Commissioner's Regulations? - CORRECT ANSWERS-Posting a sign on the
property indicating a preference for female renters, designing an ad for
general circulation appealing to persons of a specific religion to purchase
within a given area, and refusing to list a property in an area occupied by
persons of a race other than the licensee.
The type of interest usually charged on home loans is: - CORRECT ANSWERS-
Simple
A landowner is notified by a railroad company that it plans to cross his
property with a railroad line. If the landowner refuses, the railroad company
can proceed by the use of: - CORRECT ANSWERS-Eminent domain
Title to real property that is transferred by a will is considered: - CORRECT
ANSWERS-A devise
A real estate broker received 40 acres of land valued at $300 per acre as a
commission from the seller. Two weeks after escrow closed, the broker was
offered $400 per acre for the land. If the broker accepts the offer he: -
CORRECT ANSWERS-Will be acting in an acceptable manner
The words "procuring cause" would have an important meaning to which of
the following? - CORRECT ANSWERS-A disputed over commission on an open
listing
Which of the following is not an essential element of a contract? - CORRECT
ANSWERS-Performance
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Elitaa. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now