Real Estate Sales Person Exam Prep (California) with Complete Solutions
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Course
CA Real Estate
Institution
CA Real Estate
Real Estate Sales Person Exam Prep
(California) with Complete Solutions
When agent Andy took a listing, he promised the seller that he would advertise
the property in a
magazine until it was sold. Andy told the seller he submitted the ad, but the
magazine said Andy
never contacted them or ...
Real Estate Sales Person Exam Prep
(California) with Complete Solutions
When agent Andy took a listing, he promised the seller that he would advertise
the property in a
magazine until it was sold. Andy told the seller he submitted the ad, but the
magazine said Andy
never contacted them or submitted the ad. Andy is guilty of: ✔✔Actual Fraud
A fee simple estate is: ✔✔an estate of inheritance
If an appraiser is appraising a special purpose property he would probably use
the: ✔✔Cost
Approach
The main purpose of "RESPA" (Real Estate Settlement Procedures Act) is to:
✔✔To provide
consumers with enough information to enable them to shop for settlement
services
Definitions of market value is least concerned with: ✔✔Market cost
What type if an appraisal license is required to appraise a commercial strip mall
valued at
, Real Estate Sales Person Exam Prep
(California) with Complete Solutions
$700,000: ✔✔Certified general license;
Property taxes are described as "ad valorem" taxes. "Ad valorem" most nearly
means
✔✔According to value;
In order to comply with the regulations of the state Housing Law, a person
should seek the
issuance of a building permit from: ✔✔the local Department of Building and
Safety
One of the main benefits of a sale-leaseback transaction would be; ✔✔The
ability of the seller to
deduct al of his future rent payments as business expenditures
A broker who holds a valid listing on a property places a classified ad for the
property containing
only the following information "For Sale: 3 bedroom, 2 bath home with
swimming pool. Asking
, Real Estate Sales Person Exam Prep
(California) with Complete Solutions
price $165,000. Telephone 555-9276". This type of advertisement would be an
example of a:
✔✔Blind ad
A property owner lists his property for sale with a broker. During the
negotiations, the owner
told the broker that the owner wanted $138,000 for the property, and anything
above that amount
the broker could keep as his commission. The listing with this type of provision
is known as a:
✔✔net listing
Which of the following is an example of a less-than-freehold estate?
✔✔leasehold estate
When a lender loans a borrower 100% of the purchase price of a house, and the
loan is not
government-related, the lender would be best protected by: ✔✔appreciation
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