COLIBRI REAL ESTATE COMPREHENSIVE EXAM UPDATED
QUESTIONS AND ANSWERS GUARANTEE A+
✔✔What term, in the California Civil Code addressing mobile home residency,
describes the right of a homeowner to use the site within a mobile home park?
Leasehold
Specific use
Tenancy
Propriety - ✔✔Tenancy
✔✔Who serves as the chief executive of the Department of Real Estate in California?
The CEO of CalDRE
The California Real Estate Commissioner
The California Executive Branch
The Chief Executive Officer of California - ✔✔The California Real Estate Commissioner
✔✔What have lenders established to protect borrowers from unlimited increases in the
interest rate?
Mortgage caps
Rate caps
Payment caps
Amortization caps - ✔✔Rate caps
✔✔What type of contract consists of obligations arising from a mutual agreement and
intent to promise where the agreement and promise have not been expressed in words?
An unconscionable contract
An aleatory contract
An implied contract
A unilateral contract - ✔✔An implied contract
✔✔Who are the primary regulatory entities of the real estate business?
The real estate commission
Local governments
State governments
City governments - ✔✔State governments
✔✔The rectangular survey system divides a township into thirty six squares called
blocks.
sections.
parcels.
lots. - ✔✔sections.
✔✔What describes plants or crops that are considered personal property since human
intervention is necessary for planting and harvesting?
,Appurtenances
Conservation
Fodder
Emblements - ✔✔Emblements
✔✔What doctrine states that if a property owner is lax in protecting his or her rights, the
property owner may lose those rights?
The Doctrine of Reapportionment
The Doctrine of Laches
The Act of State Doctrine
The Cumulative Rights Doctrine - ✔✔The Doctrine of Laches
✔✔Who sets the amount or rate of real estate commissions?
The real estate board
The escrow agent
The lender
The broker - ✔✔The broker
✔✔California requires that deaths that occurred within the past three years be disclosed
unless an occupant of the property dies with, or as a result of,
cancer.
leukemia.
environmental factors.
AIDS. - ✔✔AIDS.
✔✔What is a Real Estate Investment Trust (REIT)?
A syndicate of working real estate professionals
A syndicate of people looking for their first home
An unincorporated trust that holds a large number of real estate investments
A syndicate of a few investors with large sums of investment capital - ✔✔An
unincorporated trust that holds a large number of real estate investments
✔✔What type of junior lien arises when a contractor or worker is not paid in full for
supplied labor or materials used to improve a property?
A tax lien
A judgment lien
A special assessment lien
A mechanic's lien - ✔✔A mechanic's lien
✔✔When a salesperson says or does something that creates agency such as giving
advice to a customer, giving an opinion to a customer, or negotiating on the customer's
behalf the licensee has
created agency.
universal agency.
express agency.
, implied agency. - ✔✔implied agency.
✔✔What should a customer receive to make him or her fully aware of what is going on
in a transaction, such as the condition of the property and who the licensee is
representing?
A property assignment form
Affidavits
Disclosures
A brokerage agreement - ✔✔A brokerage agreement
✔✔What is a legal instrument for the voluntary transfer of real and personal property
after the owner's death?
A trust
A will
A deed
A title - ✔✔A will
✔✔In a CAR Residential Purchase Agreement, who is responsible for repairing any
damages that occur as a result of inspections?
The seller
The broker
The buyer
The inspector - ✔✔The buyer
✔✔What accurately locates and identifies boundaries of a subject parcel to a degree
acceptable by courts of law in the state where the property is located?
A stake survey
A deed
A legal description
A title search - ✔✔A legal description
✔✔Joe has a lease that specifies rent and other requirements, but it does not have an
expiration date or renewal cycle. What kind of leasehold estate is it?
Estate at Sufferance
Estate at Will
Estate for Period-to-Period
Estate for Years - ✔✔Estate at Will
✔✔What type of variance permits an applicant to vary one or more of the dimensional
or physical requirements of the applicable zoning law, code or ordinance in connection
with some proposed construction?
A zoning variance
A use variance
A code variance
QUESTIONS AND ANSWERS GUARANTEE A+
✔✔What term, in the California Civil Code addressing mobile home residency,
describes the right of a homeowner to use the site within a mobile home park?
Leasehold
Specific use
Tenancy
Propriety - ✔✔Tenancy
✔✔Who serves as the chief executive of the Department of Real Estate in California?
The CEO of CalDRE
The California Real Estate Commissioner
The California Executive Branch
The Chief Executive Officer of California - ✔✔The California Real Estate Commissioner
✔✔What have lenders established to protect borrowers from unlimited increases in the
interest rate?
Mortgage caps
Rate caps
Payment caps
Amortization caps - ✔✔Rate caps
✔✔What type of contract consists of obligations arising from a mutual agreement and
intent to promise where the agreement and promise have not been expressed in words?
An unconscionable contract
An aleatory contract
An implied contract
A unilateral contract - ✔✔An implied contract
✔✔Who are the primary regulatory entities of the real estate business?
The real estate commission
Local governments
State governments
City governments - ✔✔State governments
✔✔The rectangular survey system divides a township into thirty six squares called
blocks.
sections.
parcels.
lots. - ✔✔sections.
✔✔What describes plants or crops that are considered personal property since human
intervention is necessary for planting and harvesting?
,Appurtenances
Conservation
Fodder
Emblements - ✔✔Emblements
✔✔What doctrine states that if a property owner is lax in protecting his or her rights, the
property owner may lose those rights?
The Doctrine of Reapportionment
The Doctrine of Laches
The Act of State Doctrine
The Cumulative Rights Doctrine - ✔✔The Doctrine of Laches
✔✔Who sets the amount or rate of real estate commissions?
The real estate board
The escrow agent
The lender
The broker - ✔✔The broker
✔✔California requires that deaths that occurred within the past three years be disclosed
unless an occupant of the property dies with, or as a result of,
cancer.
leukemia.
environmental factors.
AIDS. - ✔✔AIDS.
✔✔What is a Real Estate Investment Trust (REIT)?
A syndicate of working real estate professionals
A syndicate of people looking for their first home
An unincorporated trust that holds a large number of real estate investments
A syndicate of a few investors with large sums of investment capital - ✔✔An
unincorporated trust that holds a large number of real estate investments
✔✔What type of junior lien arises when a contractor or worker is not paid in full for
supplied labor or materials used to improve a property?
A tax lien
A judgment lien
A special assessment lien
A mechanic's lien - ✔✔A mechanic's lien
✔✔When a salesperson says or does something that creates agency such as giving
advice to a customer, giving an opinion to a customer, or negotiating on the customer's
behalf the licensee has
created agency.
universal agency.
express agency.
, implied agency. - ✔✔implied agency.
✔✔What should a customer receive to make him or her fully aware of what is going on
in a transaction, such as the condition of the property and who the licensee is
representing?
A property assignment form
Affidavits
Disclosures
A brokerage agreement - ✔✔A brokerage agreement
✔✔What is a legal instrument for the voluntary transfer of real and personal property
after the owner's death?
A trust
A will
A deed
A title - ✔✔A will
✔✔In a CAR Residential Purchase Agreement, who is responsible for repairing any
damages that occur as a result of inspections?
The seller
The broker
The buyer
The inspector - ✔✔The buyer
✔✔What accurately locates and identifies boundaries of a subject parcel to a degree
acceptable by courts of law in the state where the property is located?
A stake survey
A deed
A legal description
A title search - ✔✔A legal description
✔✔Joe has a lease that specifies rent and other requirements, but it does not have an
expiration date or renewal cycle. What kind of leasehold estate is it?
Estate at Sufferance
Estate at Will
Estate for Period-to-Period
Estate for Years - ✔✔Estate at Will
✔✔What type of variance permits an applicant to vary one or more of the dimensional
or physical requirements of the applicable zoning law, code or ordinance in connection
with some proposed construction?
A zoning variance
A use variance
A code variance
