California Real Estate Exam Practice
Lillian is buying Julia's home in Malibu. Julia, after selling her home to Lillian, is
buying Anne Marie's condo in San Francisco. In these transactions, who is the
grantor and who is the grantee? - correct answer Lillian is the grantee and Julia is
the grantor. Julia is the grantee and Anne Marie is the grantor.
In a general warranty deed, the implied promise: "If there is a defect, I promise to
take care of any problems" is referred to as: - correct answer A Covenant of
Further Assurance
Marcus wants to have the deed to his new home recorded to protect his
ownership rights. In order to record the deed, it must be notarized. Marcus must
go before a notary public and verify the signing of the deed. The notary then signs
the deed. The verification of Marcus' signature in the signing of the deed is known
as: - correct answer Acknowledgment
In early common law, transfers of land were only made when: - correct answer
The transfer of land from father to son, upon the father's death would take place.
Jack is leasing a home from Justin for a year. He has decided to lease until he gets
a good feel for the area and knows where he wants to buy. In this relationship,
who has the reversionary right and who has the possessory right ? - correct
answer Jack has the possessory right and Justin the reversionary right.
Drew is leasing his apartment from Reggie. The lease is for one year and they
have agreed on all areas of the contract. The lease is in written form, and Reggie
is the only party that has signed. Without Drew's signature, is the lease now
invalid? - correct answer No, the lessee is not required to sign, only the lessor.
The lessee's occupation of the property is proof the lease agreement was
accepted.
Bob leased an apartment for three years from the Steiners. He has recently
purchased his first home and moved out of the apartment. Bob gave the Steiners
sixty days' notice that he would be moving. He left the apartment in perfect
condition. When should he expect his security deposit refunded? - correct
answer Within 21 days of vacating the property
, California Real Estate Exam Practice
Thad and Pierre made an appointment to view a condo for lease advertised in the
newspaper. Thad phoned the landlord and set up a viewing for two hours later in
the day. The couple thought the condo was perfect and informed the landlord
they wanted to start the application process to lease the condo. The landlord then
explained the condo had just been leased. The next Sunday in the classifieds, the
condo was again advertised for lease. A friend of the couple phoned the landlord,
pretending to be interested in the property. When asked if it had been leased, the
landlord replied "No". What is going on in this situation? - correct answer It
seems the landlord did not like the idea of leasing his condo to a same sex couple.
This is not permissible. A landlord must live by federal and state fair housing laws.
Katie and Rich own a rental home they have put up FSBO. They've noticed the
same woman has accompanied several potential buyers viewing the home. Katie
and Rich discover she is a broker that has been "showing" the home on the sly
without their permission. Instead of fighting this aggressive salesperson, the
couple just go along. In which manner was agency created? - correct answer
Ostensible Agency
Ted and Lisa are selling their home and have signed a listing agreement. Client or
customer? Steven visits Ted and Lisa's open house, and he is interested in
purchasing their home. What happens next? Is Steven a client or customer? -
correct answer Ted and Lisa are clients, and Steven is a customer. The listing
agent must disclose to Steven that he/she represents Ted and Lisa and explain
customer relationships.
Timothy has been hired by the estate of Tyler Wilbanks, who is recently deceased.
Timothy has Power of Attorney and will be handling all the real estate affairs of
the deceased estate. Which type of agent is Timothy? - correct answer Universal
Agent
In order to equalize business in their area, ABC Realty and RMH Realty have an
unwritten agreement. They have agreed to split up their area with ABC taking
everything north of the highway and RMH everything south. Under this
agreement, the real estate agents licensed to each respective brokerage will not
be competing and all will profit. Is this a violation? If it is a violation, what is it
Lillian is buying Julia's home in Malibu. Julia, after selling her home to Lillian, is
buying Anne Marie's condo in San Francisco. In these transactions, who is the
grantor and who is the grantee? - correct answer Lillian is the grantee and Julia is
the grantor. Julia is the grantee and Anne Marie is the grantor.
In a general warranty deed, the implied promise: "If there is a defect, I promise to
take care of any problems" is referred to as: - correct answer A Covenant of
Further Assurance
Marcus wants to have the deed to his new home recorded to protect his
ownership rights. In order to record the deed, it must be notarized. Marcus must
go before a notary public and verify the signing of the deed. The notary then signs
the deed. The verification of Marcus' signature in the signing of the deed is known
as: - correct answer Acknowledgment
In early common law, transfers of land were only made when: - correct answer
The transfer of land from father to son, upon the father's death would take place.
Jack is leasing a home from Justin for a year. He has decided to lease until he gets
a good feel for the area and knows where he wants to buy. In this relationship,
who has the reversionary right and who has the possessory right ? - correct
answer Jack has the possessory right and Justin the reversionary right.
Drew is leasing his apartment from Reggie. The lease is for one year and they
have agreed on all areas of the contract. The lease is in written form, and Reggie
is the only party that has signed. Without Drew's signature, is the lease now
invalid? - correct answer No, the lessee is not required to sign, only the lessor.
The lessee's occupation of the property is proof the lease agreement was
accepted.
Bob leased an apartment for three years from the Steiners. He has recently
purchased his first home and moved out of the apartment. Bob gave the Steiners
sixty days' notice that he would be moving. He left the apartment in perfect
condition. When should he expect his security deposit refunded? - correct
answer Within 21 days of vacating the property
, California Real Estate Exam Practice
Thad and Pierre made an appointment to view a condo for lease advertised in the
newspaper. Thad phoned the landlord and set up a viewing for two hours later in
the day. The couple thought the condo was perfect and informed the landlord
they wanted to start the application process to lease the condo. The landlord then
explained the condo had just been leased. The next Sunday in the classifieds, the
condo was again advertised for lease. A friend of the couple phoned the landlord,
pretending to be interested in the property. When asked if it had been leased, the
landlord replied "No". What is going on in this situation? - correct answer It
seems the landlord did not like the idea of leasing his condo to a same sex couple.
This is not permissible. A landlord must live by federal and state fair housing laws.
Katie and Rich own a rental home they have put up FSBO. They've noticed the
same woman has accompanied several potential buyers viewing the home. Katie
and Rich discover she is a broker that has been "showing" the home on the sly
without their permission. Instead of fighting this aggressive salesperson, the
couple just go along. In which manner was agency created? - correct answer
Ostensible Agency
Ted and Lisa are selling their home and have signed a listing agreement. Client or
customer? Steven visits Ted and Lisa's open house, and he is interested in
purchasing their home. What happens next? Is Steven a client or customer? -
correct answer Ted and Lisa are clients, and Steven is a customer. The listing
agent must disclose to Steven that he/she represents Ted and Lisa and explain
customer relationships.
Timothy has been hired by the estate of Tyler Wilbanks, who is recently deceased.
Timothy has Power of Attorney and will be handling all the real estate affairs of
the deceased estate. Which type of agent is Timothy? - correct answer Universal
Agent
In order to equalize business in their area, ABC Realty and RMH Realty have an
unwritten agreement. They have agreed to split up their area with ABC taking
everything north of the highway and RMH everything south. Under this
agreement, the real estate agents licensed to each respective brokerage will not
be competing and all will profit. Is this a violation? If it is a violation, what is it
