California Real Estate (Principles) UPDATED Actual Exam Questions and CORRECT Answers
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Course
California Real Estate
Institution
California Real Estate
California Real Estate (Principles)
UPDATED Actual Exam Questions and
CORRECT Answers
A ''loss in value from any cause'' is a definition of - CORRECT ANSWER- Depreciation
A couple recently married and each person had children from
a previous marriage. They wish to take title to property so
t...
California Real Estate (Principles)
UPDATED Actual Exam Questions and
CORRECT Answers
A ''loss in value from any cause'' is a definition of - CORRECT ANSWER✔✔- Depreciation
A couple recently married and each person had children from
a previous marriage. They wish to take title to property so
they can pass their share to their own children by will. The
best form of title would be - CORRECT ANSWER✔✔- Community Property
A valid deed passes title when it is - CORRECT ANSWER✔✔- delivered and accepted.
In July, Easton bought Rothchild's home through the listing
broker, McGrew. After a hard rain in November, the roof
developed a severe leak. Easton sued Rothchild and McGrew
for the cost of a new roof. Testimony in court revealed that
Rothchild mentioned the need for a new roof to Broker
McGrew. McGrew did not tell Easton about the need for a
new roof. What would most likely occur? - CORRECT ANSWER✔✔- Easton would collect
from Rothchild; Rothchild would
then seek recourse from McGrew.
The main purpose of the Truth-in-Lending Act is to - CORRECT ANSWER✔✔- require
disclosure of credit terms.
The difference between judgment liens and mechanics' liens
is that - CORRECT ANSWER✔✔- mechanics' liens can take priority before they are
recorded.
, Broker Santos is in the process of listing a home. The agency
disclosure must be given - CORRECT ANSWER✔✔- prior to the seller signing the listing
agreement
On October 1, 2008, Garcia agreed to purchase Chan's
home. Both parties agreed that escrow would close on
December 1, 2008, and that property taxes would be
prorated as of date of possession. On November 1, 2008,
Chan paid the property taxes for the year 2008-2009.
According to the escrow closing statement, which of the
following is true? - CORRECT ANSWER✔✔- Garcia paid Chan for 8 months' taxes.
taxes begin on fiscal year of July 1-June 30
November 1
December 10
February 1
April 10
A quitclaim deed conveys only the present rights of the: - CORRECT ANSWER✔✔- grantor
To have a valid recorded homestead, certain elements are
essential. Which of the following is not essential? - CORRECT ANSWER✔✔- to be a
married person
A licensed loan broker arranged for a loan and has the
borrower sign the required statement. The broker then
discovers a lien that the borrower did not disclose. If the
loan cannot be arranged due to the lien, the borrower is
liable for - CORRECT ANSWER✔✔- all cost and expenses and half the commission
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