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California Real Estate Exam Prep Pre-Test V5.0 Questions And Answers With Verified Solutions 100% Correct!!! $14.49   Add to cart
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California Real Estate Exam Prep Pre-Test V5.0 Questions And Answers With Verified Solutions 100% Correct!!!
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California Real Estate Exam Prep Pre-Test V5.0 Questions And Answers With Verified Solutions 100% Correct!!!

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  • October 9, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • california real estate exam prep pre test v50 que
  • a broker used the following phraseology in his lis
  • when referring to real estate finance the term im
  • all of the following can sue for specific perform

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  • California Real Estate
  • California Real Estate

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California Real Estate Exam Prep Pre-
Test V5.0 Questions And Answers With
Verified Solutions 100% Correct!!!
A broker used the following phraseology in his listing contract: "In consideration
of the execution of the foregoing, the undersigned broker agrees to use diligence in
procuring a purchaser." This is BEST described as - ANSWER✔✔a necessary
element in the creation of a bilateral contract.


A tenant who transfers an entire leasehold interest does so by -
ANSWER✔✔assignment.


When referring to real estate finance, the term impounds MOST nearly means -
ANSWER✔✔reserves.
The answer is reserves. In real estate finance, the term impounds means reserves,
which is a trust-type account established by lenders for the accumulation of a
borrower's funds to meet periodic payment of taxes and insurance as they become
due.


From the lender's point of view, the MOST significant factor concerning a
purchase money first mortgage is that it takes priority over - ANSWER✔✔any
liens against the purchaser at the time of purchase


All of the following can sue for specific performance EXCEPT - ANSWER✔✔a
broker acting as the agent for the principal.
The answer is a broker acting as the agent for the principal. A broker acting as an
agent would not likely be able to sue his principal for specific performance because
the broker is not a party to his principal's contract.

, The personal revocable and unassignable nonexclusive permission or authority to
do one or more acts on the land of another without possessing any interest therein,
is the definition of - ANSWER✔✔license.


When comparing physical life to economic life, the economic life usually -
ANSWER✔✔is lesser.


Which is TRUE of a listing agent who gave part of his commission to the buyer? -
ANSWER✔✔He must disclose this to the seller.


Which of the following distinguishes a mechanic's lien from a judgment lien? -
ANSWER✔✔Mechanic's liens are created by statute.


Which of the following words placed in a promissory note would commit all the
borrowers for payment? - ANSWER✔✔Jointly and severally


Under authority of a signed exclusive agency listing, broker Davis diligently
advertised for sale the $165,000 home of owner Johnson. Before the expiration
date of the listing, Johnson sold the home to a friend. Davis was refused payment
of any commission. Davis is legally entitled to receive from Johnson -
ANSWER✔✔No Commission.
The broker is entitled to no commission. An exclusive agency listing is one in
which a broker is employed as the sole agent for the seller of real property. Under
the terms of such agreements, the broker is entitled to a commission if the property
is sold through any other broker but not if a sale is negotiated by the owner without
the services of an agent.


A broker advertises in the paper that if a seller lists a property with the broker, the
broker will credit the seller with $50 toward the commission to be paid. The
advertisement also states that if a prospective buyer brings a copy of the

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