Anything that is fastened or attached to real property permanently is considered to be: - ANSWER Real Property
A quitclaim deed releases all present claims, rights and title of the: - ANSWER Grantor
When a creditor wants to satisfy a judgement which was levied against another person, the cred...
Real Estate Principles Final Exam| 100 Questions| Correct Answers
Anything that is fastened or attached to real property permanently is considered to be: - ANSWER Real Property
A quitclaim deed releases all present claims, rights and title of the: - ANSWER Grantor
When a creditor wants to satisfy a judgement which was levied against another person, the creditor would: - ANSWER Obtain a writ of execution
Before a mechanics lien is effective it must be: - ANSWER Verified and recorded
Discrimination by a real estate licensee based on race is: - ANSWER A violation of the regulations of the Real Estate Commissioner, against public policy, and unethical
Upon the signing of a real property sales contract: - ANSWER An equitable title passes to purchaser
All California Real Estate Laws are created by: - ANSWER Acts of the legislature
The 36 sections in a township are numbered from 1 through 36. Section 1 is located in the: - ANSWER Northeast corner
Which of the following would be a discriminatory act under the Commissioner's Regulations? - ANSWER Posting a sign on the property indicating a preference for female renters, designing an ad for general circulation appealing to persons of a specific
religion to purchase within a given area, and refusing to list a property in an area occupied by persons of a race other than the licensee.
The type of interest usually charged on home loans is: - ANSWER Simple
A landowner is notified by a railroad company that it plans to cross his property with a railroad line. If the landowner refuses, the railroad company can proceed by the use of: -
ANSWER Eminent domain
Title to real property that is transferred by a will is considered: - ANSWER A devise
A real estate broker received 40 acres of land valued at $300 per acre as a commission from the seller. Two weeks after escrow closed, the broker was offered $400 per acre for the land. If the broker accepts the offer he: - ANSWER Will be acting in an acceptable manner The words "procuring cause" would have an important meaning to which of the following? - ANSWER A disputed over commission on an open listing
Which of the following is not an essential element of a contract? - ANSWER Performance
Under the Street Improvement Act of 1911, the city is authorized to assess each owner for the work completed. These improvements are assessed on the basis of: - ANSWER Front footage
The real estate tax fiscal year is for the period: - ANSWER July 1 to July 1
The landmark case of the United States Supreme Court which prohibited discrimination in housing was: - ANSWER Jones vs. Mayer
Most real estate syndicates that have been created in California have taken the form of a: - ANSWER Limited partnership
Under the California Veterans Home and Farm Purchase Act of 1974, the purchaser acquired possession through a: - ANSWER Land Contract
Which of the following has the control over the approval of a subdivision under the Subdivision Map Act? - ANSWER Planning Commission
A grant deed: - ANSWER Warrants that the property has not been previously conveyed by the grantor
When an appraiser analyzes the rent while using the income approach, he should base his appraisal on which of the following characteristics of the income? - ANSWER Durability, quality, and quantity
An income property was appraised for the $100,000 based on a 6% capitalization rate. If an investor used an 8% capitalization rate, the property would be: - ANSWER $75,000
Which of the following appraisal reports would be the most comprehensive and complete? - ANSWER Narrative
Once an abstract of judgment is recorded it remains a lien on all real property for: - ANSWER Ten years
If a note in the amount of $22,250 specifies monthly payments over a period of 30 years
at 6.6% interest per annum, what is the first month's interest payment? - ANSWER $122.38
"Duress" is a term which is most closely associated to matters concerning: - ANSWER Contracts
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