LEGAL ASPECTS OF REAL ESTATE FINAL EXAM REPORTED QUESTIONS WITH CORRECT ANSWERS
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LEGAL ASPECTS OF REAL ESTATE
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LEGAL ASPECTS OF REAL ESTATE
LEGAL ASPECTS OF REAL ESTATE FINAL EXAM REPORTED QUESTIONS WITH CORRECT ANSWERS
Amendments to the Constitution guarantee, with regards to property and the real estate profession, which of the following? - Answer-Due process
Equal protection
Just compensation
An agency is terminated by operat...
LEGAL ASPECTS OF REAL ESTATE
FINAL EXAM REPORTED QUESTIONS
WITH CORRECT ANSWERS
Amendments to the Constitution guarantee, with regards to property and the real estate
profession, which of the following? - Answer-Due process
Equal protection
Just compensation
An agency is terminated by operation of law if: - Answer-Either party dies.
Either party goes bankrupt.
The agent loses his or her license.
An agency may be created by: - Answer-Express agreement.
Ratification.
Estoppel.
An emancipated minor is a person under the age of 18 who: - Answer-Is married or has
been married.
Is on active duty with the armed forces.
Has received a court declaration of emancipation.
An employment agreement between a seller and a broker is commonly called a: -
Answer-listing agreement.
Authority intentionally given by the principal to an agent is called: - Answer-actual
authority.
Fixtures installed for use in a tenant's business are called: - Answer-trade fixtures.
For oral contracts involving real property, any lawsuit must be filed within: - Answer-2
years of the breach.
Generally, a seller or agent can't be sued for misrepresentation if his or her statements
were merely:
opinions. - Answer-Opinions.
Predictions.
Puffing.
, If a spouse with two children dies intestate, the deceased spouse's interest in the
community property with right of survivorship will be distributed with: - Answer-all of it
going to the surviving spouse.
In California, title can be acquired by adverse possession if the possession is: - Answer-
Actual, open, and notorious.
Hostile to the owner's interest.
Exclusive and uninterrupted for five years.
In a listing agreement for the sale of four or less residential units, a broker's commission
must: - Answer-be negotiable between the seller and the broker.
In a mediation process: - Answer-A neutral person facilitates communication.
A mutually satisfying agreement is the goal.
In a non-adjudicative process, parties: - Answer-resolve disputes voluntarily.
In a smaller community with zoning issues, the city council will often act as the: -
Answer-planning commission.
In reference to a deed, the owner of the property who is transferring title is called the: -
Answer-grantor.
In the financial world, the most significant factor in estimating a closing date is the: -
Answer-state of the finance market.
Joint escrow instructions signed by the parties can also act as a(n): - Answer-contract of
sale.
Joint tenancy requires unity of possession and: - Answer-Unity of interest.
Unity of time.
Unity of title.
Long established rules derived from English judicial decisions are sometimes referred to
as: - Answer-common law.
Natural attachments that are planted and cultivated are called: - Answer-fructus
industriales.
Refusal, for discriminatory reasons, to make loans on property in a particular
neighborhood is called: - Answer-redlining.
Refusing to deal further with tenants who has sued you for discrimination may be
considered: - Answer-unlawful retaliation.
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