REAL ESTATE EXPRESS UPDATED ACTUAL
EXAM QUESTIONS AND CORRECT
ANSWERS COMPLETE STUDY GUIDE
●● 1. Estates of inheritance or perpetual estates;
2. Estates for life;
3. Estates for years; or
4. Estates at will.
Answer: Under Section 761 of the California Civil Code, enacted in
1872, estates in real property are classified, with respect to duration, into
which of the following categories:
●● Alluvial plain, which relate to delta areas along rivers
Answer: Which of the following is NOT a type of water rights?
●● Captain Canguro holds the estate in fee simple defeasible.
Answer: Captain Canguro's father was a teetotaler to the nth degree; so
Canguro was not surprised when his father said he would sell Canguro
one of the three properties he owned, provided that Canguro followed
the condition set forth in the contract, stating that "no alcohol can be
served on the premises at any time." Canguro agreed with this provision
and the sale was made. Which of the following statements is most
accurate regarding this situation?
,●●
Answer: San Bernardino seller Craig Watkins has just signed a contract
to sell his home of 13 years to buyer Ivedale Bosch, who has recently
moved to California from Montana. The contract has met all the
necessary requirements, and all inspections and other mandates have
gone along as expected and as agreed to until one week before closing,
when Craig decides to back out. However, he understands that he could
face legal action by Ivy; so he offers to sell her another house he owns
and has rented out for the past few years, in lieu of the San Bernardino
one promised. The second home is worth $15,000 more than the
originally contracted one, and has an extra bedroom. However, Ivy isn't
interested, because she wants to be close to her elderly mother, who lives
in a San Bernardino retirement complex. Craig refuses to complete the
sale on the original home. Which of the following statements is true of
this situation?
●●
Answer: In California, property is generally owned in one of six distinct
forms of ownership. Which of the following is NOT one of these six
forms?
●●
Answer: In which of the following capacities does the Commissioner
serve in California?
●●
, Answer: When Jim, Jill, and Jeri take ownership to a Bakersfield home,
they hold their ownership concurrently. Jim has the greatest proportion,
with 45%, while Jill holds 30% and Jeri the last 25%. They each have
the right to individually possess, will, or sell their interest. This is known
as:
●●
Answer: When two or more people have identical interests in the whole
property, with the same rights of possession and the right of survivorship
this form of ownership is considered:
●●
Answer: The legal process of making an instrument, or legal document,
an official part of the records of a county, once it has been
acknowledged, thereby giving constructive notice of the existence and
content of these instruments to the public, is known as
●●
Answer: Johnson Bailey and Kailey Clark's corporation, Bailey-Clark
Financial, is branching out into the field of escrow handling. They know
the corporation must be licensed by the State of California. There are a
total of 5 officers, trustees, and other employees who will have access to
the money or negotiable securities in the possession of the corporate
license, and have furnished a bond of indemnification against loss. Has
the corporation fulfilled all necessary licensing requirements to work in
escrow handling?
EXAM QUESTIONS AND CORRECT
ANSWERS COMPLETE STUDY GUIDE
●● 1. Estates of inheritance or perpetual estates;
2. Estates for life;
3. Estates for years; or
4. Estates at will.
Answer: Under Section 761 of the California Civil Code, enacted in
1872, estates in real property are classified, with respect to duration, into
which of the following categories:
●● Alluvial plain, which relate to delta areas along rivers
Answer: Which of the following is NOT a type of water rights?
●● Captain Canguro holds the estate in fee simple defeasible.
Answer: Captain Canguro's father was a teetotaler to the nth degree; so
Canguro was not surprised when his father said he would sell Canguro
one of the three properties he owned, provided that Canguro followed
the condition set forth in the contract, stating that "no alcohol can be
served on the premises at any time." Canguro agreed with this provision
and the sale was made. Which of the following statements is most
accurate regarding this situation?
,●●
Answer: San Bernardino seller Craig Watkins has just signed a contract
to sell his home of 13 years to buyer Ivedale Bosch, who has recently
moved to California from Montana. The contract has met all the
necessary requirements, and all inspections and other mandates have
gone along as expected and as agreed to until one week before closing,
when Craig decides to back out. However, he understands that he could
face legal action by Ivy; so he offers to sell her another house he owns
and has rented out for the past few years, in lieu of the San Bernardino
one promised. The second home is worth $15,000 more than the
originally contracted one, and has an extra bedroom. However, Ivy isn't
interested, because she wants to be close to her elderly mother, who lives
in a San Bernardino retirement complex. Craig refuses to complete the
sale on the original home. Which of the following statements is true of
this situation?
●●
Answer: In California, property is generally owned in one of six distinct
forms of ownership. Which of the following is NOT one of these six
forms?
●●
Answer: In which of the following capacities does the Commissioner
serve in California?
●●
, Answer: When Jim, Jill, and Jeri take ownership to a Bakersfield home,
they hold their ownership concurrently. Jim has the greatest proportion,
with 45%, while Jill holds 30% and Jeri the last 25%. They each have
the right to individually possess, will, or sell their interest. This is known
as:
●●
Answer: When two or more people have identical interests in the whole
property, with the same rights of possession and the right of survivorship
this form of ownership is considered:
●●
Answer: The legal process of making an instrument, or legal document,
an official part of the records of a county, once it has been
acknowledged, thereby giving constructive notice of the existence and
content of these instruments to the public, is known as
●●
Answer: Johnson Bailey and Kailey Clark's corporation, Bailey-Clark
Financial, is branching out into the field of escrow handling. They know
the corporation must be licensed by the State of California. There are a
total of 5 officers, trustees, and other employees who will have access to
the money or negotiable securities in the possession of the corporate
license, and have furnished a bond of indemnification against loss. Has
the corporation fulfilled all necessary licensing requirements to work in
escrow handling?
