California Real Estate Exam Multiple Choice Questions | Strategies Review of Key Quizzes with 100% Certified Answers | Latest Update 2026 | 2027 (Rated A+)

California Real Estate Exam Multiple Choice Questions | Strategies Review of Key Quizzes with 100% Certified Answers | Latest Update 2026 | 2027 (Rated A+) Quiz_________________? a. $1,500 $217,500 ÷ 145% (1.45) = $150,000 original price Acreage: N½ of the NW¼ of the SE¼ = 20 acres W½ of the NE¼ = 80 acres Therefore, price per acre = $150,000 ÷ 100 = $1,500. - ANSWERS An investor group recently sold a parcel of land for $217,500, which was 45% more than they paid for it. The land is described as follows: N½ of the NW¼ of the SE¼ of Section 13 plus the W½ of the NE¼ of Section 13. What was the original price they paid per acre for the property? a. $1,500 b. $1,200 c. $1,000 d. $750 Quiz_________________? a. $121,200. - ANSWERS A property for sale is listed at $120,000 and has an outstanding assessment bond of $1,200. At time of sale, for tax purposes, the basis for taxes would be: a. $121,200. b. $118,000. c. $120,000. d. indeterminable from information. Quiz_________________? a. $450 For junior trust deed, under $10,000 for 2 to 3 years = 10% $4,500 x 10% (.1)= $450. - ANSWERS A borrower negotiates a $4,500 loan secured by a 2nd trust deed through a broker. The loan was to be for a term of 2 years. What is the maximum commission the broker can charge for services? a. $450 b. $225 c. $675 d. None of the above Quiz_________________? a. 16 " o.c. In some areas, codes allow up to 24´´ on center, but the standard is 16´´ on center. - ANSWERS 14. Code requirements for "studding" in single-family units is: a. 16 " o.c. b. 18 " o.c. c. 20 " o.c. d. 24 " o.c. Quiz_________________? a. 2 units in a planned development The DRE requires a notice to be filled for the resale of 5 lots or more in a planned unit development (PUD) - ANSWERS The resale of which of the following would NOT require a notice to the Department of Real Estate (DRE)? a. 2 units in a planned development b. 5 units in a condominium project c. 5 lots in a standard subdivision d. 5 units in a stock cooperative Quiz_________________? a. 3 business days. By delivery, or placing it in the mail within 3 days. - ANSWERS According to R.E.S.P.A., on applicable loans, a lender is required to furnish a copy of a Special Information Booklet (prescribed by Housing and Urban Development) together with a "Good Faith Estimate" of closing costs to every person from whom it receives (or for whom it prepares) a written application for a federally related loan, within: a. 3 business days. b. 12 business days. c. 15 business days. d. 21 business days. Quiz_________________? a. 50 or more unimproved lots in a rural area. - ANSWERS 37. A "land project" is best defined as: a. 50 or more unimproved lots in a rural area. b. ownership of an undivided interest in land coupled with the right of exclusive occupancy of any apartment thereon. c. ownership of an undivided interest in common in a portion of property, together with a separate interest in space in a residential, industrial, or commercial building. d. ownership of an undivided interest in land. Quiz_________________? a. A Cal Vet loan is a guaranteed loan. Cal Vet loans are "land contracts" with the state holding title. - ANSWERS Which of the following statements is NOT correct? a. A Cal Vet loan is a guaranteed loan. b. An FHA loan is an insured loan. c. A VA loan is a guaranteed loan. d. A conventional loan is not backed by any governmental agency. Quiz_________________? a. A change in value resulting from inflation or other positive economic forces "a" represents an unearned increment, or increase in value, due to external causes. It is not a depreciating factor, whereas the other answers to the question are all depreciating elements. - ANSWERS Depreciation is a factor least affected by which of the following statements? a. A change in value resulting from inflation or other positive economic forces b. Obsolescence resulting from adverse external changes in the neighborhood c. Value deterioration due to action of natural elements d. Obsolescence due to faulty design or inferior quality of construction Quiz_________________? a. A club that was six months old Clubs must not have been in business for less than one year. - ANSWERS Which of the following would NOT qualify for an "on-sale" liquor license? a. A club that was six months old b. A cafeteria that was six months old c. 12-year-old restaurant d. One year old hotel Quiz_________________? a. a loan is denied due to the failure of a borrower to disclose pertinent factors relating to his qualifying. - ANSWERS A broker is entitled to one-half of the commission plus all his costs when: a. a loan is denied due to the failure of a borrower to disclose pertinent factors relating to his qualifying. b. loan is not consummated due to failure of a lender to supply funds. c. never. d. none of the above. Quiz_________________? a. a real property security can be created from a note on a home not located in any subdivision. All that is necessary would be the "guarantee" against loss, or a specific minimum yield, made by the selling broker. - ANSWERS All the following statements are incorrect, except: a. a real property security can be created from a note on a home not located in any subdivision. b. real property securities are always secured by installment sales contracts. c. real property securities and real property sales contracts are interchangeable terms. d. out-of-state subdivisions offered in California for sale need not comply with Article 6 of the California Real Estate Law. Quiz_________________? a. A sale of personal property without written authorization. - ANSWERS 79. A Licensee would have the least chance of receiving a commission in which of the following circumstances? a. A sale of personal property without written authorization. b. Failing to reveal the amount of profit under a net listing. c. An exchange of businesses under verbal authorization. d. Negotiating a lease of one year or less, not in writing.