Exam (elaborations)
CA Real Estate Exam 2024 Practice Questions and Answers (Latest Update 2024)
- Course
- Institution
CA Real Estate Exam 2024 Practice Questions and Answers (Latest Update 2024)
[Show more]
Content preview
CA Real Estate Exam 2024 PracticeQuestions and Answers (Latest Update
2024)
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 - Correct Answer ✅ Homeowner's
insurance
Homeowner's insurance ensures comprehensive protection
for homeowners.
What is the status of a contract when all terms have been
fulfilled and the transaction has been closed?
Fully executed
Terminated
Voidable
,CA Real Estate Exam 2024 Practice
Questions and Answers (Latest Update
2024)
Unenforceable - Correct Answer ✅ Fully executed
This means that both parties have performed their
obligations under the contract and there are no further
actions required. At this point, the contract has been
completely executed and both parties are typically released
from any further obligations under the agreement.
Surface rights, air rights, and subsurface rights are all rights
that can be sold by a property owner while still retaining the
property itself. These rights are known as:
Severable rights
Littoral rights
Owner's rights
Riparian rights - Correct Answer ✅ Severable rights
Surface rights, air rights, and subsurface rights can be sold
separately and are called severable rights.
,CA Real Estate Exam 2024 Practice
Questions and Answers (Latest Update
2024)
When an easement allows the use of a neighboring property
which automatically transfers upon the sale of either
dominant or servient property, it is called what type of
easement?
Easement by prescription
Easement appurtenant
Easement in gross
Easement of utility - Correct Answer ✅ Easement in
appurtenant
Appurtenant means "runs with the land."
Linda purchased a fee simple interest for the private use of a
residential property for one week every single year. What did
Linda purchase?
Shares in a cooperative building
A condominium
, CA Real Estate Exam 2024 Practice
Questions and Answers (Latest Update
2024)
Common elements
Resort timeshare - Correct Answer ✅ Resort timeshare
Vacation timeshare resorts sell a fee simple form of
ownership to a buyer for the private and exclusive use of a
unit for one week a year. There is title work, a closing, and
the buyer is conveyed a deed.
What is the highest form of land ownership which includes
the full and complete bundle of property rights?
Fee simple defeasible
Fee simple determinable
Fee simple condition subsequent
Fee simple absolute - Correct Answer ✅ Fee simple
absolute
Fee simple absolute freehold estate is the highest level of
property ownership giving the ownership giving the owner
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 Allivia. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. 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