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CALIFORNIA REAL ESTATE SALESPERSON FINAL
EXAM LATEST 2025/ 2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||LATEST EXAM!!!|| ||BRANDNEW!!!||
Using time-management to increase income, you should
realize that - Answer-doubling "A" time activities should
double your income.
What are the advantages of a good time-management
program? - Answer-Improved efficiency
Increased income
A release from time pressures
Nonresidential real estate purchased since 1987 must be
depreciated using: - Answer-both 39 years for the property
life and the straight-line method.
A married couple sells their principal residence of 30 years
for $650,000. Their adjusted cost basis is $80,000. How
much of their gain would be taxable? - Answer-$70,000
(They have a gain of $570,000 and a $500,000 exclusion).
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An ad valorem tax describes - Answer-real property taxes.
Requirements for a valid 1031 exchange include - Answer-
both that the property must have been held for productive
use in a trade or business or for investment purposes and
that the exchange property must be of like-kind.
To have a valid delayed exchange - Answer-both the
exchange property must be identified within 45 days and
the exchange must be completed no more than 180 days
after transfer of exchanged property.
Proposition 13 provided for - Answer-All of these:
-Property taxes to be increased up to 2% each year.
-Assessed value of property acquired before 1978 to be
reduced to the amount shown in the 1975 tax roll.
-Newly acquired property to have a maximum basic tax
levy of 1%.
A lease that needs no notice for termination, would be -
Answer-an estate for years.
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A common fee arrangement for commercial property
managers would be a - Answer-combination of percentage
of the gross and minimum fee.
A lease stipulating that the tenant pays a fixed monthly
rental and the landlord pays all other property expenses
would be a - Answer-gross lease.
Security deposits for unfurnished residential rentals cannot
exceed - Answer-two months rent unfurnished, 3 months
rent furnished
A property manager would know that Section 8 housing
refers to - Answer-a subsidized rent program for low-
income tenants.
A lease for a definite period of time would be - Answer-an
estate for years.
Which of the following statements BEST describes a
sublease? - Answer-The sublessor is liable to the owner
and the sublessee is a tenant of the sublessor.
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A property manager who lives on the property and is
employed by the owner, would be - Answer-a resident
manager (no license required)
Types of property requiring property management include
- Answer-All of these:
-Apartments.
-Industrial parks.
-Office buildings.
A clause in a percentage lease whereby the landlord has a
right to regain the premises if the tenant fails to achieve a
stated gross would be - Answer-a recapture clause.
One of the requirements for a real estate salesperson to
be regarded as an independent contractor by the IRS is
that the - Answer-broker-salesperson contract states that
the salesperson shall be treated as an independent
contractor for tax purposes.
CALIFORNIA REAL ESTATE SALESPERSON FINAL
EXAM LATEST 2025/ 2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||LATEST EXAM!!!|| ||BRANDNEW!!!||
Using time-management to increase income, you should
realize that - Answer-doubling "A" time activities should
double your income.
What are the advantages of a good time-management
program? - Answer-Improved efficiency
Increased income
A release from time pressures
Nonresidential real estate purchased since 1987 must be
depreciated using: - Answer-both 39 years for the property
life and the straight-line method.
A married couple sells their principal residence of 30 years
for $650,000. Their adjusted cost basis is $80,000. How
much of their gain would be taxable? - Answer-$70,000
(They have a gain of $570,000 and a $500,000 exclusion).
,2|Page
An ad valorem tax describes - Answer-real property taxes.
Requirements for a valid 1031 exchange include - Answer-
both that the property must have been held for productive
use in a trade or business or for investment purposes and
that the exchange property must be of like-kind.
To have a valid delayed exchange - Answer-both the
exchange property must be identified within 45 days and
the exchange must be completed no more than 180 days
after transfer of exchanged property.
Proposition 13 provided for - Answer-All of these:
-Property taxes to be increased up to 2% each year.
-Assessed value of property acquired before 1978 to be
reduced to the amount shown in the 1975 tax roll.
-Newly acquired property to have a maximum basic tax
levy of 1%.
A lease that needs no notice for termination, would be -
Answer-an estate for years.
,3|Page
A common fee arrangement for commercial property
managers would be a - Answer-combination of percentage
of the gross and minimum fee.
A lease stipulating that the tenant pays a fixed monthly
rental and the landlord pays all other property expenses
would be a - Answer-gross lease.
Security deposits for unfurnished residential rentals cannot
exceed - Answer-two months rent unfurnished, 3 months
rent furnished
A property manager would know that Section 8 housing
refers to - Answer-a subsidized rent program for low-
income tenants.
A lease for a definite period of time would be - Answer-an
estate for years.
Which of the following statements BEST describes a
sublease? - Answer-The sublessor is liable to the owner
and the sublessee is a tenant of the sublessor.
, 4|Page
A property manager who lives on the property and is
employed by the owner, would be - Answer-a resident
manager (no license required)
Types of property requiring property management include
- Answer-All of these:
-Apartments.
-Industrial parks.
-Office buildings.
A clause in a percentage lease whereby the landlord has a
right to regain the premises if the tenant fails to achieve a
stated gross would be - Answer-a recapture clause.
One of the requirements for a real estate salesperson to
be regarded as an independent contractor by the IRS is
that the - Answer-broker-salesperson contract states that
the salesperson shall be treated as an independent
contractor for tax purposes.
