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Purpose of CalBRE - ANSWER The California Bureau of Real Estate (CalBRE) protects the public through the enforcement of laws and requirements for salespersons' and brokers' real estate licenses. The California Real Estate Commissioner - ANSWER The California Real Estate Commissioner has the authority to investigate the actions of any person engaged in the business of a licensee in California, and has the power to deny, suspend or revoke the real estate license.

insurance policy which combines personal liability insurance and hazard insurance coverage for a dwelling and its contents is called - ANSWER Homeowners insurance What is the status of a contract when all the terms have been fulfilled and the transaction has been closed? - ANSWER Fully executed 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: - ANSWER Several rights

What are the two types of freehold estates? - ANSWER 1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? - ANSWER An estate in fee simple absolute

1.1. A title was recorded for a parcel of real property vested in the name of Johan Wilson, a single woman. After her marriage to William Roberts, she executed a deed to the property only in the name of Johan Roberts, a married woman. The discrepancy in the grantors name is: A. Valid if William Roberts agrees to it B. A defect on title that may cause title to be vested as tenants in common C. Immaterial if the property is properly described D. A defect which may cause a cloud on the title...

Which of the following is most vital or important in planning a subdivision: - ANSWER Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - ANSWER Percentage Lease What is not an adequate method of transferring property? - ANSWER Executive

Two friends hold title as joint tenants. One borrowed money and executed a deed of trust against the property. In terms of affecting title this action could: - ANSWER Place the beneficiary in a precarious position should the borrower die before the debt is paid. Joint tenant estate held by two joint tenants is severed and ended by the following: - ANSWER A foreclosure by one of the joint tenants. One of the joint tenants transfers his interest to a third party. One of the joint tenants sell h...

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. What is the status of a contract when all terms have been fulfilled and the transaction has been closed? Fully executed Terminated Voidable Unenforceab...

In reference to Property Taxes, "basis" or "cost" is - ANSWER Purchase price of prop plus cost of improvements. How is a condominium unit owned? - ANSWER Separate interest How are common interests in a condo owned? - ANSWER Equally in undivided

(1) 1. The real estate marketplace could BEST be described as being A. homogeneous B. stratified C. perfect D. uninfluenced by emotion - ANSWER B. stratified (based on price) (1) 2. Most real estate agents are primarily engaged in which area of activity A. residential property B. raw land and lots C. commercial property D. development - ANSWER A. residential

An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising out of ownership. b. the ability of one commodity to command other commodities in exchange. c. relationship between the thing desired and the potential purchaser. d. all of the above. - ANSWER d. all of the above. These are elements of value. Which of the following abbreviations is associated with the FHA? a. NAR b. CPM c. MIP/MMI