Exam (elaborations)
CALIFORNIA REAL ESTATE LICENSE EXAM 1 2024/2025
- Course
- Institution
CALIFORNIA REAL ESTATE LICENSE EXAM 1 2024/2025
[Show more]
Content preview
CALIFORNIA REAL ESTATE LICENSEEXAM 1 2024/2025
1.1. A title was recorded for a parcel of real property vested in the name
of Johan Wilson, a single woman. After her marriage to William
Roberts, she executed a deed to the property only in the name of Johan
Roberts, a married woman. The discrepancy in the grantors name is:
A. Valid if William Roberts agrees to it
B. A defect on title that may cause title to be vested as tenants in
common
C. Immaterial if the property is properly described
D. A defect which may cause a cloud on the title - Precise Answer ✔✔A
defect which may cause a cloud on the title.
1.2. Which contract would be the most difficult for a buyer to obtain
financing?
A. Land Contract
B. FHA
C. VA
D. Conventional - Precise Answer ✔✔Land Contract
1.3. When a broker runs an advertisement, the broker must disclose:
,A. Last name of the broker
B. Name of the broker
C. Name of broker and salesperson
D. Name of the salesperson - Precise Answer ✔✔Name of the broker
1.4. Following in-house sales are true, except:
A. The listing agent can act as a dual agent
B. The listing broker can act as a buyers agent only
C. The broker may purchase the property himself
D. The seller may represent the seller only - Precise Answer ✔✔The
seller may represent the seller only
1.5. The Federal Housing Administration (FHA) was created primarily:
A. To provide insurance for home loans in the secondary market
B. To insure the borrower
C. To provide insurance for home loans made by approved lender
D. To improve the economy for mortgage bankers - Precise Answer
✔✔To provide insurance for home loans made by approved lenders
1.6. Which of the following loans on a home would probably be made
without requiring a down payment from the borrower?
,A. VA Loan
B. CAL-VET
C. FHA
D. Conventional - Precise Answer ✔✔VA Loan
1.7. A person who wishes to purchase a home using the Cal-Vet
program would send his application to:
A. Department of Real Estate
B. Real Estate Commissioner
C. Department of Veterans Affairs
D. Veterans Administration - Precise Answer ✔✔Department of
Veterans Affairs
1.8. The item that would appear on the debit side of a buyer's closing
statement would be:
A. Purchase Price
B. Prepaid Rents
C. Mortgage Insurance
D. Down Payment - Precise Answer ✔✔Purchase Price
1.9. When dealing with the public, a broker may not:
, A. Disclose any of his duties to other agents
B. Remain silent concerning material facts about a property known only
by himself
C. Reject a listing if it is discriminatory or overpriced for minorities
D. All of the above - Precise Answer ✔✔Remain silent concerning
material facts about a property known only by himself
1.10. Which of the following is the reason that a real estate agent must
keep his principal informed of material facts concerning a pending real
estate transaction?
A. When the agent is a fiduciary
B. When it's printed on the purchase agreement
C. When the agent concerned with the commission which seller is
paying
D. When the broker works only for the seller - Precise Answer
✔✔When the agent is a fiduciary
1.11. A buyer relied upon the fraudulent statement of the seller's agent
and was damaged. The seller was unaware of the agent's false statement,
and he tried to enforce the agreement. The buyer:
A. Could sue the seller for fraud
B. Could sue the seller's agent for fraud
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 YANCHY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81849 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now