DRE CA License Exam 128 Questions with Correct
Answers.
The first component of real estate is land , which includes: - Correct Answer soil. rock.
reasonable airspace above the earth
Land is inclusive of all listed answer choices.
How many square feet are in three acres of land ? - Correct Answer 130,680
a acre of land contains 43,560 square Feet.
the northeast 1/4 of a section contains: - Correct Answer 160 acres.
there are 640 acre IN A SECTION. divide this by fore to find the area of a quarter section.
an individual may obtain title by all the following means except:
escheat : - Correct Answer an individual may not
obtain title by escheat. only the state government may acquire title through escheat
Land zoned for use as the site for multi-family residential developments (such as
apartment buildings) would be denoted as: - Correct Answer R-3
Multi-family residential would be R-3 or R-4. A-4 designates agricultural zoning.
Which of the following would be treated as a credit on the seller's closing statement? -
Correct Answer Prepaid insurance.
Prepaid insurance is a credit on the seller's closing statement because it's a cost they
must be reimbursed for, while the others must be reimbursed to the buyer.
Concerning the first installment of real property taxes in California, the due date and
delinquent date are respectively: - Correct Answer November 1 and December 10;
,Tax Calendar: With respect to Real Property Taxes: The First Installment is due
November 1st, and is delinquent December 10th. The Second Installment is due February
1st, and is delinquent April 10th. (No Darn Fooling Around)
Which of the following persons is authorized to manage property for the general public? -
Correct Answer A licensed real estate broker
You'll need a real estate broker's license or you must work for an individual who has one to
operate as a California property manager. You must demonstrate specific training in the
field and pass a written examination administered by the state's Department of Real
Estate to get a broker's license. Being a realtor is not sufficient unless you are working
under a licensed broker.
A lease where the tenant pays the property taxes, maintenance and other expenses is a: -
Correct Answer Net Lease
A net lease is a property lease in which the tenant pays all expenses normally associated
with ownership, such as utilities, maintenance, repairs, insurance, and taxes.
When a lender makes a loan regulated by the Real Estate Settlement Procedures Act, the
loan applicant must be provided with which of the following: - Correct Answer A loan
estimate
When a homebuyer applies for a home loan, the TILA/RESPA Integrated Disclosure rule
requires the lender to provide a Loan Estimate to the buyer within 3 days of receipt of the
loan application, and all revisions have to be delivered at least 7 days before closing. The
loan estimate details the loan terms, mortgage payments, costs at closing and other costs
and fees related to the loan, many of which cannot change.
A note on which only the interest is paid during its term is called: - Correct Answer A
straight note
In a Straight Note there are no principal payments made. The entire principal amount of
the loan is paid off at maturity or the end. [The interest is paid off either at the end or during
note's term.]
, In a usual listing agreement, the broker is authorized - Correct Answer find a purchaser
and accept a deposit.
In a usual listing agreement, the broker is authorized to find a purchaser and accept a
deposit. Earnest money is a deposit made to a seller indicating the buyer's good faith in an
arrangement. Often used in real estate transactions, earnest money allows the buyer
additional time when seeking financing. Earnest money is typically held jointly by the
seller and buyer in a trust or escrow account.
When the preliminary title report reveals the existence of an easement on the property, it
indicates that the easement is a(n): - Correct Answer encumbrance.
Anything that limits a person's use of a property is an encumbrance. Easements limit use
in that they generally prohibit any kind of permanent structure on the area in question. For
example, if a homeowner wanted to build a swimming pool in an area of his back yard and
the local sewer company had an easement for pipes running under that area, he would
have to find another location for his pool, even if it was not as desirable.
A normal size section in the Government Rectangular Survey System contains - Correct
Answer 1 square mile.
a rectangular system of land survey that divides a district into 24-square mile quadrangles
from the meridian (north-south line) and the baseline (east-west line); the tracts are
divided into 6-mile-square parts called townships, which are in turn divided into 36 tracts,
each 1 mile square, called sections.
Which of the following costs would be classified as a recurring cost - Correct Answer
Impound account items
An impound account (also called an escrow account, depending on where you live) is
simply an account maintained by the mortgage company to collect insurance and tax
payments that are necessary for you to keep your home, but are not technically part of the
mortgage.
An increase in the availability of money would lead to which effect? - Correct Answer
Interest rates would go down.
Answers.
The first component of real estate is land , which includes: - Correct Answer soil. rock.
reasonable airspace above the earth
Land is inclusive of all listed answer choices.
How many square feet are in three acres of land ? - Correct Answer 130,680
a acre of land contains 43,560 square Feet.
the northeast 1/4 of a section contains: - Correct Answer 160 acres.
there are 640 acre IN A SECTION. divide this by fore to find the area of a quarter section.
an individual may obtain title by all the following means except:
escheat : - Correct Answer an individual may not
obtain title by escheat. only the state government may acquire title through escheat
Land zoned for use as the site for multi-family residential developments (such as
apartment buildings) would be denoted as: - Correct Answer R-3
Multi-family residential would be R-3 or R-4. A-4 designates agricultural zoning.
Which of the following would be treated as a credit on the seller's closing statement? -
Correct Answer Prepaid insurance.
Prepaid insurance is a credit on the seller's closing statement because it's a cost they
must be reimbursed for, while the others must be reimbursed to the buyer.
Concerning the first installment of real property taxes in California, the due date and
delinquent date are respectively: - Correct Answer November 1 and December 10;
,Tax Calendar: With respect to Real Property Taxes: The First Installment is due
November 1st, and is delinquent December 10th. The Second Installment is due February
1st, and is delinquent April 10th. (No Darn Fooling Around)
Which of the following persons is authorized to manage property for the general public? -
Correct Answer A licensed real estate broker
You'll need a real estate broker's license or you must work for an individual who has one to
operate as a California property manager. You must demonstrate specific training in the
field and pass a written examination administered by the state's Department of Real
Estate to get a broker's license. Being a realtor is not sufficient unless you are working
under a licensed broker.
A lease where the tenant pays the property taxes, maintenance and other expenses is a: -
Correct Answer Net Lease
A net lease is a property lease in which the tenant pays all expenses normally associated
with ownership, such as utilities, maintenance, repairs, insurance, and taxes.
When a lender makes a loan regulated by the Real Estate Settlement Procedures Act, the
loan applicant must be provided with which of the following: - Correct Answer A loan
estimate
When a homebuyer applies for a home loan, the TILA/RESPA Integrated Disclosure rule
requires the lender to provide a Loan Estimate to the buyer within 3 days of receipt of the
loan application, and all revisions have to be delivered at least 7 days before closing. The
loan estimate details the loan terms, mortgage payments, costs at closing and other costs
and fees related to the loan, many of which cannot change.
A note on which only the interest is paid during its term is called: - Correct Answer A
straight note
In a Straight Note there are no principal payments made. The entire principal amount of
the loan is paid off at maturity or the end. [The interest is paid off either at the end or during
note's term.]
, In a usual listing agreement, the broker is authorized - Correct Answer find a purchaser
and accept a deposit.
In a usual listing agreement, the broker is authorized to find a purchaser and accept a
deposit. Earnest money is a deposit made to a seller indicating the buyer's good faith in an
arrangement. Often used in real estate transactions, earnest money allows the buyer
additional time when seeking financing. Earnest money is typically held jointly by the
seller and buyer in a trust or escrow account.
When the preliminary title report reveals the existence of an easement on the property, it
indicates that the easement is a(n): - Correct Answer encumbrance.
Anything that limits a person's use of a property is an encumbrance. Easements limit use
in that they generally prohibit any kind of permanent structure on the area in question. For
example, if a homeowner wanted to build a swimming pool in an area of his back yard and
the local sewer company had an easement for pipes running under that area, he would
have to find another location for his pool, even if it was not as desirable.
A normal size section in the Government Rectangular Survey System contains - Correct
Answer 1 square mile.
a rectangular system of land survey that divides a district into 24-square mile quadrangles
from the meridian (north-south line) and the baseline (east-west line); the tracts are
divided into 6-mile-square parts called townships, which are in turn divided into 36 tracts,
each 1 mile square, called sections.
Which of the following costs would be classified as a recurring cost - Correct Answer
Impound account items
An impound account (also called an escrow account, depending on where you live) is
simply an account maintained by the mortgage company to collect insurance and tax
payments that are necessary for you to keep your home, but are not technically part of the
mortgage.
An increase in the availability of money would lead to which effect? - Correct Answer
Interest rates would go down.
