CA REAL ESTATE EXAM- PRACTICE
QUESTIONS AND CORRECT
ANSWERS
If equal payments are made ✅✅ANSW-The equity increases and interest rate decreases
an offer written on April 24th with a contingency, the seller
to respond within 5 days, if the seller fails to respond: ✅✅ANSW-The seller must return the
deposit to the buyer
The analysis for a residential property is : ✅✅ANSW-Marketability and acceptablility
Impound account is ✅✅ANSW-recuring cost items
If a broker has out-of state relatives and wants to buy a propery in CA. With a lease option to
buy,the broker must present disclosure to ✅✅ANSW-The seller (owner)
Owner Tesoro listed a valand with Broker Gonzalez for $124,200, Buyer Carter made and
offer for $123,000 with a 3 days expiration date. The following date the seller counter back
with a sales price of $123,600. When Broker Gonzales presented the counter offer to buyer
Carter he rejected the conter offer. When Tesoro found out of Carters rejection the seller
accepted Carter's previous offer of $123,000. Which of the following is true? ✅✅ANSW-There is
no contract
Which of the following is invalid in its inception? ✅✅ANSW-Legal incompetence of a grantor
Which of the following is essential for an agency: ✅✅ANSW-Competency, Fiduciary, Agreement
to the parties to the contract
Before communication to the perspective purchaser of the seller acceptance of an offer, the buyer
may cancel for any reason ✅✅ANSW-at any time
, Buyer Hanson, contacted Broker Cohen, Hanson told Cohen that he wants to
buy a property that is not listed. Broker Cohen approaches the seller to obtain a listing,
the seller told Cohen that he is not intrested in selling. A week later buyer Hanson got
into negotiations with the seller, which of the following is true? ✅✅ANSW-The broker is entitled
to nothing
The duty to preserve confidential information terminates ✅✅ANSW-When the agency ends
Buyer wilson signed an offer before the listing broker could obtain an unqualified acceptance Wilson
died ✅✅ANSW-The death of Wilson worked a revocation of the offer
The labor code 37000 is ✅✅ANSW-Workers Comp
Corn Crops are ✅✅ANSW-Emblements
The fiduciary duty to the seller is the same as ✅✅ANSW-Beneficiary to trustee
Take out stands for ✅✅ANSW-Long term construction loan
RESP applies to which of the following properties? ✅✅ANSW-Single family homes 1-4 units
Escrow settlement statement: ✅✅ANSW-could be different
SAM LOAN: ✅✅ANSW-Shareed Appreciation Mortagage- any increase in the value of the home
will be split with ur mortgage lender. SAM loans are recommended in a strong financial market
CHILD SUPPORT ✅✅ANSW-Has to be paid before a license is issued
The benefits of Tax Shelter ✅✅ANSW-Income tax purposes
QUESTIONS AND CORRECT
ANSWERS
If equal payments are made ✅✅ANSW-The equity increases and interest rate decreases
an offer written on April 24th with a contingency, the seller
to respond within 5 days, if the seller fails to respond: ✅✅ANSW-The seller must return the
deposit to the buyer
The analysis for a residential property is : ✅✅ANSW-Marketability and acceptablility
Impound account is ✅✅ANSW-recuring cost items
If a broker has out-of state relatives and wants to buy a propery in CA. With a lease option to
buy,the broker must present disclosure to ✅✅ANSW-The seller (owner)
Owner Tesoro listed a valand with Broker Gonzalez for $124,200, Buyer Carter made and
offer for $123,000 with a 3 days expiration date. The following date the seller counter back
with a sales price of $123,600. When Broker Gonzales presented the counter offer to buyer
Carter he rejected the conter offer. When Tesoro found out of Carters rejection the seller
accepted Carter's previous offer of $123,000. Which of the following is true? ✅✅ANSW-There is
no contract
Which of the following is invalid in its inception? ✅✅ANSW-Legal incompetence of a grantor
Which of the following is essential for an agency: ✅✅ANSW-Competency, Fiduciary, Agreement
to the parties to the contract
Before communication to the perspective purchaser of the seller acceptance of an offer, the buyer
may cancel for any reason ✅✅ANSW-at any time
, Buyer Hanson, contacted Broker Cohen, Hanson told Cohen that he wants to
buy a property that is not listed. Broker Cohen approaches the seller to obtain a listing,
the seller told Cohen that he is not intrested in selling. A week later buyer Hanson got
into negotiations with the seller, which of the following is true? ✅✅ANSW-The broker is entitled
to nothing
The duty to preserve confidential information terminates ✅✅ANSW-When the agency ends
Buyer wilson signed an offer before the listing broker could obtain an unqualified acceptance Wilson
died ✅✅ANSW-The death of Wilson worked a revocation of the offer
The labor code 37000 is ✅✅ANSW-Workers Comp
Corn Crops are ✅✅ANSW-Emblements
The fiduciary duty to the seller is the same as ✅✅ANSW-Beneficiary to trustee
Take out stands for ✅✅ANSW-Long term construction loan
RESP applies to which of the following properties? ✅✅ANSW-Single family homes 1-4 units
Escrow settlement statement: ✅✅ANSW-could be different
SAM LOAN: ✅✅ANSW-Shareed Appreciation Mortagage- any increase in the value of the home
will be split with ur mortgage lender. SAM loans are recommended in a strong financial market
CHILD SUPPORT ✅✅ANSW-Has to be paid before a license is issued
The benefits of Tax Shelter ✅✅ANSW-Income tax purposes
