Exam (elaborations)
CA Real Estate Exam 2024 Practice Questions EXAM QUESTIONS AND ANSWERS 100 % PASS A+ GRADE
- Course
- Institution
CA Real Estate Exam 2024 Practice Questions EXAM QUESTIONS AND ANSWERS 100 % PASS A+ GRADE
[Show more]
Content preview
CA Real Estate Exam 2024 Practice Questions EXAM 2024-2025QUESTIONS AND ANSWERS 100 % PASS A+ GRADE
What type of title bears the most protection for the property owner?
Quit claim deed
Sheriff's deed
Warranty deed
Beneficiary deed - answer>>Warranty deed
A warranty deed includes the guarantee of seisin, encumbrances, right to quiet enjoyment, further
assurance, and warranty forever.
A person makes an offer to purchase a property that was shown to them by their broker, but then
waits to present the offer to the seller until later that day. In the meantime, two more offers were
submitted on the property. Under the rule of agency, the offer:
Is considered to be void because only one offer at a time can be placed on a property
Must be presented alongside the other offers to allow the seller to make a fair choice
Must wait to be presented because the other offers take priority in order
Must be presented first because the offer was known by the broker before the others - answer>>Must
be presented alongside the other offers to allow the seller to make a fair choice
Sharon made an offer on her dream home and to show the seller she was a serious buyer she offered
a sum of money to be held in escrow that she will forfeit if she does not fulfill her end of the deal.
What is the sum of money to be held in escrow as a good faith deposit called?
Prefunding deposit
Broker deposit
,Earnest money
Purchase promise deposit - answer>>Earnest money
A contract can include earnest money to be held in escrow as a good faith deposit which is applied
toward the purchase price at closing.
An insurance policy which combines personal liability insurance and hazard insurance coverage for a
dwelling and its contents is called:
Homeowner's insurance
Buyer's insurance
Errors and omissions insurance
All of the above - answer>>Homeowner's insurance
Homeowner's insurance ensures comprehensive protection for homeowners.
Once all terms of a contract have been fulfilled and the transaction has closed, the contract status is said
to be fully:
Rescinded
Executed
Insured
Amended - answer>>Executed
John signs a six-month lease on an apartment beginning January 1st and ending June 30th. His lease
does not automatically renew and no notice is required on his part to vacate on the expiration date.
What type of lease did John sign?
,Estate at will
Estate from period to period
Estate for months
Estate for years - answer>>Estate for years
An estate for years is a lease for a fixed period of time, rather than month-to-month, that does not
automatically renew and requires no notice to terminate at the end of the term.
What duty does an agent acting as a property manager owe a property owner?
Principal duties
Fiduciary duties
Legal duties
Regulatory duties - answer>>Fiduciary duties
A property management agreement creates a general agency between the property owner and the
licensee. Therefore, a property manager owes the property owner fiduciary duties. The fiduciary duty
requires the agent to act in the property owner's best interest.
A property management contract should include all of the following except:
Signatures of the property owner and licensee
Duration of the agreement
Signature of the tenant
Management fee - answer>>Signature of the tenant
, The property management agreement is an employment contract between the property owner and
the agent licensee. A tenant will sign a lease, but not the property management agreement.
Sally wants to transfer the title of her property to her granddaughter. Which of the following are ways to
voluntarily transfer title to a property?
Sales contract, will, seisin
Will, grant, deed
Title certification, escheat, deed
Escheat, will, grant - answer>>Will, grant, deed
When someone passed away with a valid will in place, it is referred to as:
Testate
Intestate
Escheat
Appurtenant - answer>>Testate
A title search revealed a lien on a property which creates a cloud on the title. How may the landowner
go about resoling this title issue?
By requesting a chain of title
By letting the lien expire
Writing a letter to the judge asking that it be dismissed
Paying the debt and filing a stratification of judgement - answer>>Paying the debt and filing a
stratification of judgement
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 dennohz2000. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. 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