CA Real Estate Exam 2024 Practice Questions/
175 Q&A.
An insurance policy which combines personal liability insurance and hazard
insurance coverage for a dwelling and its contents is called:
Homeowner's insurance
Buyer's insurance
Errors and omissions insurance
All of the above - Answer: Homeowner's insurance
Homeowner's insurance ensures comprehensive protection for homeowners.
Page 1 of 75
,What is the status of a contract when all terms have been fulfilled and the
transaction has been closed?
Fully executed
Terminated
Voidable
Unenforceable - Answer: Fully executed
This means that both parties have performed their obligations under the contract
and there are no further actions required. At this point, the contract has been
completely executed and both parties are typically released from any further
obligations under the agreement.
Surface rights, air rights, and subsurface rights are all rights that can be sold by a
property owner while still retaining the property itself. These rights are known as:
Severable rights
Littoral rights
Owner's rights
Riparian rights - Answer: Severable rights
Surface rights, air rights, and subsurface rights can be sold separately and are
called severable rights.
Page 2 of 75
,When an easement allows the use of a neighboring property which automatically
transfers upon the sale of either dominant or servient property, it is called what
type of easement?
Easement by prescription
Easement appurtenant
Easement in gross
Easement of utility - Answer: Easement in appurtenant
Appurtenant means "runs with the land."
Linda purchased a fee simple interest for the private use of a residential property
for one week every single year. What did Linda purchase?
Shares in a cooperative building
A condominium
Common elements
Resort timeshare - Answer: Resort timeshare
Vacation timeshare resorts sell a fee simple form of ownership to a buyer for the
private and exclusive use of a unit for one week a year. There is title work, a
closing, and the buyer is conveyed a deed.
What is the highest form of land ownership which includes the full and complete
bundle of property rights?
Page 3 of 75
, Fee simple defeasible
Fee simple determinable
Fee simple condition subsequent
Fee simple absolute - Answer: Fee simple absolute
Fee simple absolute freehold estate is the highest level of property ownership
giving the ownership giving the owner the right of possession, control, exclusion,
enjoyment, and disposition.
What type of ownership would allow two or more owners to have various unequal
percentages of ownership?
Joint tenancy with rights of survivorship
Joint tenancy
Tenancy in common
Tenancy in severalty - Answer: Tenancy in common
Tenancy in common grants owners to have an equal, undivided interest in a
property, but also allows owners to have varying percentages of unequal
ownership as well.
Tenancy in severalty is best described as:
Two property owners
Page 4 of 75
175 Q&A.
An insurance policy which combines personal liability insurance and hazard
insurance coverage for a dwelling and its contents is called:
Homeowner's insurance
Buyer's insurance
Errors and omissions insurance
All of the above - Answer: Homeowner's insurance
Homeowner's insurance ensures comprehensive protection for homeowners.
Page 1 of 75
,What is the status of a contract when all terms have been fulfilled and the
transaction has been closed?
Fully executed
Terminated
Voidable
Unenforceable - Answer: Fully executed
This means that both parties have performed their obligations under the contract
and there are no further actions required. At this point, the contract has been
completely executed and both parties are typically released from any further
obligations under the agreement.
Surface rights, air rights, and subsurface rights are all rights that can be sold by a
property owner while still retaining the property itself. These rights are known as:
Severable rights
Littoral rights
Owner's rights
Riparian rights - Answer: Severable rights
Surface rights, air rights, and subsurface rights can be sold separately and are
called severable rights.
Page 2 of 75
,When an easement allows the use of a neighboring property which automatically
transfers upon the sale of either dominant or servient property, it is called what
type of easement?
Easement by prescription
Easement appurtenant
Easement in gross
Easement of utility - Answer: Easement in appurtenant
Appurtenant means "runs with the land."
Linda purchased a fee simple interest for the private use of a residential property
for one week every single year. What did Linda purchase?
Shares in a cooperative building
A condominium
Common elements
Resort timeshare - Answer: Resort timeshare
Vacation timeshare resorts sell a fee simple form of ownership to a buyer for the
private and exclusive use of a unit for one week a year. There is title work, a
closing, and the buyer is conveyed a deed.
What is the highest form of land ownership which includes the full and complete
bundle of property rights?
Page 3 of 75
, Fee simple defeasible
Fee simple determinable
Fee simple condition subsequent
Fee simple absolute - Answer: Fee simple absolute
Fee simple absolute freehold estate is the highest level of property ownership
giving the ownership giving the owner the right of possession, control, exclusion,
enjoyment, and disposition.
What type of ownership would allow two or more owners to have various unequal
percentages of ownership?
Joint tenancy with rights of survivorship
Joint tenancy
Tenancy in common
Tenancy in severalty - Answer: Tenancy in common
Tenancy in common grants owners to have an equal, undivided interest in a
property, but also allows owners to have varying percentages of unequal
ownership as well.
Tenancy in severalty is best described as:
Two property owners
Page 4 of 75
