California Real Estate License Exam 1
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California Real Estate Exam California Real Estate Exam Multiple... California Real Estate Exam Real Es
208 terms 510 terms Teacher 208 terms 37 terms
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Terms in this set (150) Hide definitions
1.1. A title was recorded for a parcel of real property A defect which may cause a cloud on the title.
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
1.2. Which contract would be the most difficult for a buyer Land Contract
to obtain financing?
A. Land Contract
B. FHA
C. VA
D. Conventional
1.3. When a broker runs an advertisement, the broker must Name of the broker
disclose:
A. Last name of the broker
B. Name of the broker
C. Name of broker and salesperson
D. Name of the salesperson
,1.4. Following in-house sales are true, except: The seller may represent the seller only
A. The listing agent can act as a dual agent
B. The listing broker can act as a buyers agent only
C. The broker may purchase the property himself
D. The seller may represent the seller only
1.5. The Federal Housing Administration (FHA) was To provide insurance for home loans made by approved lenders
created primarily:
A. To provide insurance for home loans in the secondary
market
B. To insure the borrower
C. To provide insurance for home loans made by
approved lender
D. To improve the economy for mortgage bankers
1.6. Which of the following loans on a home would VA Loan
probably be made without requiring a down payment
from the borrower?
A. VA Loan
B. CAL-VET
C. FHA
D. Conventional
1.7. A person who wishes to purchase a home using the Department of Veterans Affairs
Cal-Vet program would send his application to:
A. Department of Real Estate
B. Real Estate Commissioner
C. Department of Veterans Affairs
D. Veterans Administration
1.8. The item that would appear on the debit side of a Purchase Price
buyer's closing statement would be:
A. Purchase Price
B. Prepaid Rents
C. Mortgage Insurance
D. Down Payment
, 1.9. When dealing with the public, a broker may not: Remain silent concerning material facts about a property known only by himself
A. Disclose any of his duties to other agents
B. Remain silent concerning material facts about a
property known only by himself
C. Reject a listing if it is discriminatory or overpriced for
minorities
D. All of the above
1.10. Which of the following is the reason that a real estate When the agent is a fiduciary
agent must keep his principal informed of material facts
concerning a pending real estate transaction?
A. When the agent is a fiduciary
B. When it's printed on the purchase agreement
C. When the agent concerned with the commission which
seller is paying
D. When the broker works only for the seller
1.11. A buyer relied upon the fraudulent statement of the Could sue the seller for fraud, could sue the seller's agent for fraud, has sufficient
seller's agent and was damaged. The seller was unaware grounds for recission
of the agent's false statement, and he tried to enforce the
agreement. The buyer:
A. Could sue the seller for fraud
B. Could sue the seller's agent for fraud
C. Has sufficient grounds for recission
D. Could do any of the above
1.12. Lenders know that the lower the loan-to-value ratio, Equity
the higher the:
A. Interest Rate
B. Risk
C. Loan to Value Ratio
D. Equity
5.0 (1 review)
Students also studied
Flashcard sets Study guides
California Real Estate Exam California Real Estate Exam Multiple... California Real Estate Exam Real Es
208 terms 510 terms Teacher 208 terms 37 terms
Hillary_JohnsonRE Preview adam_salzberg Preview mrebarraza Preview fran
Terms in this set (150) Hide definitions
1.1. A title was recorded for a parcel of real property A defect which may cause a cloud on the title.
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
1.2. Which contract would be the most difficult for a buyer Land Contract
to obtain financing?
A. Land Contract
B. FHA
C. VA
D. Conventional
1.3. When a broker runs an advertisement, the broker must Name of the broker
disclose:
A. Last name of the broker
B. Name of the broker
C. Name of broker and salesperson
D. Name of the salesperson
,1.4. Following in-house sales are true, except: The seller may represent the seller only
A. The listing agent can act as a dual agent
B. The listing broker can act as a buyers agent only
C. The broker may purchase the property himself
D. The seller may represent the seller only
1.5. The Federal Housing Administration (FHA) was To provide insurance for home loans made by approved lenders
created primarily:
A. To provide insurance for home loans in the secondary
market
B. To insure the borrower
C. To provide insurance for home loans made by
approved lender
D. To improve the economy for mortgage bankers
1.6. Which of the following loans on a home would VA Loan
probably be made without requiring a down payment
from the borrower?
A. VA Loan
B. CAL-VET
C. FHA
D. Conventional
1.7. A person who wishes to purchase a home using the Department of Veterans Affairs
Cal-Vet program would send his application to:
A. Department of Real Estate
B. Real Estate Commissioner
C. Department of Veterans Affairs
D. Veterans Administration
1.8. The item that would appear on the debit side of a Purchase Price
buyer's closing statement would be:
A. Purchase Price
B. Prepaid Rents
C. Mortgage Insurance
D. Down Payment
, 1.9. When dealing with the public, a broker may not: Remain silent concerning material facts about a property known only by himself
A. Disclose any of his duties to other agents
B. Remain silent concerning material facts about a
property known only by himself
C. Reject a listing if it is discriminatory or overpriced for
minorities
D. All of the above
1.10. Which of the following is the reason that a real estate When the agent is a fiduciary
agent must keep his principal informed of material facts
concerning a pending real estate transaction?
A. When the agent is a fiduciary
B. When it's printed on the purchase agreement
C. When the agent concerned with the commission which
seller is paying
D. When the broker works only for the seller
1.11. A buyer relied upon the fraudulent statement of the Could sue the seller for fraud, could sue the seller's agent for fraud, has sufficient
seller's agent and was damaged. The seller was unaware grounds for recission
of the agent's false statement, and he tried to enforce the
agreement. The buyer:
A. Could sue the seller for fraud
B. Could sue the seller's agent for fraud
C. Has sufficient grounds for recission
D. Could do any of the above
1.12. Lenders know that the lower the loan-to-value ratio, Equity
the higher the:
A. Interest Rate
B. Risk
C. Loan to Value Ratio
D. Equity
