Final Exam A California real estate Questions and Answers Solved 100% Correct!!

All of the following are ways by which an offer to purchase real estate would be terminate, except - Answer-Failure to communicate notice of revocation before the other party has communicated his or her acceptance When using their closing statement, escrow would debit the seller of income property for which of the following items - Answer-Prepaid rent When a Cal-Vet wishes to purchase a home and use his California veteran's benefit he would make the application to - Answer-Department of Veterans Affairs Which of the following loans would most likely be made without requiring down payment from the borrower - Answer-VA Loan Recorded title to a parcel of property was vested in Mary Wilson a single woman. After her marriage to John Roberts she executed a deed to the property only in the name of Mary Roberts, a married woman. The discrepancy in the grantor's name is - Answer-A defect, which may cause a cloud on the title If a salesperson wishes to advertise his or her services, the advertisement must include - Answer-The brokers name Which of the following statements is incorrect with regard to an "in-house" sale - Answer-The listing broker can be the agent of the buyer only For income tax purposes, capital expenditures for improvements & alterations are - Answer-Added to the "cost basis" of the property The document which transfers title but contains no express or implied warranties is a - AnswerQuitclaim deed Land, which is subject to an easement is said to be - Answer-EncumberedAfter completion of a new building in which the owner did not record a Notice of Completion, any unpaid claimant must file a Mechanics's Lien within - Answer-90 days Mr. Smith employed the XYZ Pool Construction Company to install a swimming pool at his home. After completion, the contractor filed a lien to obtain payment of the contract price. The encumbrance created was - Answer-A specific lien Which of the following has control over the approval of a subdivision under the Subdivision Map Act? - Answer-Planning Commission