CALIFORNIA REAL ESTATE SALESPERSON FINAL EXAM -
COMPLETE QUESTIONS AND DETAILED SOLUTIONS
LATEST UPDATE THIS YEAR JUST RELEASED
Question 1: A tenant signed a written lease for two years on a
home. The lease made no mention of assignments and/or
subleasing. The tenant may:
A. assign or sublease the home since the lease did not address those
items
B. not assign or sublease the home to another tenant
C. only assign or sublease the home with the landlord's prior written
approval
D. assign the lease to an assignee, but cannot sublease the home to
another tenant
Answer:
a. assign or sublease the home since the lease did not address those items
Question 2: Able holds a two-year lease with an option to purchase
and assigns the lease to Baker. Which of the following is correct?
A. Baker would not hold the option.
B. Able would continue to hold the option
C. this is not permissible
D. Baker would now hold the option
Answer:
d. Baker would now hold the option
Question 3: Which of the following is a benefit of a net lease?
, A. Lessee receives net income
B. Lessee does not have to pay taxes, maintenance, and insurance
C. Lessor receives net income
D. Lessor pays taxes, maintenance, and insurance
Answer:
c. Lessor receives net income
Question 4: A sinle line of retail stores located along a major
transportation cofffidor in a commercially zoned area would be
known as a:
A. street commercial zone development
B. commercial cluster center
C. strip commercial development
D. commercial redevelopment zone
Answer:
c. strip commercial development
Question 5: Which of the following is often used when a
commercial lease contains an escalator clause to adjust the rental
amount periodically (usually anually) for inflation?
A. average commercial rental rates in an area
B. the consumer price index (CPI)
C. general economic indicators averaged over the past 12 months
D. standard and poor's statistics of 500 individuals
Answer:
b. the consumer price index (CPI)
,Question 6: The transaction coordinator performs which of the
following?
A. Creae a timeline of important dates
B. if instructed, open escrow
C. generate form in zipForms as necessary
D. all of the above
Answer:
d. all of the above
Question 7: An interpleader action is:
A. a court action
B. a formal written protest to the seller
C. a formal written apology to the buyer
D. none of the above
Answer:
a. a court action
Question 8: If there is a disagreement between the buyer and seller
during escrow, the escrow officer may disburse funds:
A. as a result of judgment between the buyer and seller
B. if the parties to the escrow agree
C. if a binding arbitrator settles the matter
D. all of the above would allow the escrow officer to disburse funds
Answer:
d. all of the above would allow the escrow officer to disburse funds
, Question 9: Which of the following would not be prorated in
escrow?
A. rents
B. impounds
C. title insurance premium
D. property taxes
Answer:
c. title insurance premium
Question 10: A partial premium refund on fire insurance is called:
A. a short rate
B. an impound
C. title insurance
D. all of the above
Answer:
a. a short rate
Question 11: Every recorded change of ownership and/or claim of
ownership on a property is in the:
A. grant deed
B. abstract of title
C. title insurance polocy
D. preliminary title report
Answer:
b. abstract of title
COMPLETE QUESTIONS AND DETAILED SOLUTIONS
LATEST UPDATE THIS YEAR JUST RELEASED
Question 1: A tenant signed a written lease for two years on a
home. The lease made no mention of assignments and/or
subleasing. The tenant may:
A. assign or sublease the home since the lease did not address those
items
B. not assign or sublease the home to another tenant
C. only assign or sublease the home with the landlord's prior written
approval
D. assign the lease to an assignee, but cannot sublease the home to
another tenant
Answer:
a. assign or sublease the home since the lease did not address those items
Question 2: Able holds a two-year lease with an option to purchase
and assigns the lease to Baker. Which of the following is correct?
A. Baker would not hold the option.
B. Able would continue to hold the option
C. this is not permissible
D. Baker would now hold the option
Answer:
d. Baker would now hold the option
Question 3: Which of the following is a benefit of a net lease?
, A. Lessee receives net income
B. Lessee does not have to pay taxes, maintenance, and insurance
C. Lessor receives net income
D. Lessor pays taxes, maintenance, and insurance
Answer:
c. Lessor receives net income
Question 4: A sinle line of retail stores located along a major
transportation cofffidor in a commercially zoned area would be
known as a:
A. street commercial zone development
B. commercial cluster center
C. strip commercial development
D. commercial redevelopment zone
Answer:
c. strip commercial development
Question 5: Which of the following is often used when a
commercial lease contains an escalator clause to adjust the rental
amount periodically (usually anually) for inflation?
A. average commercial rental rates in an area
B. the consumer price index (CPI)
C. general economic indicators averaged over the past 12 months
D. standard and poor's statistics of 500 individuals
Answer:
b. the consumer price index (CPI)
,Question 6: The transaction coordinator performs which of the
following?
A. Creae a timeline of important dates
B. if instructed, open escrow
C. generate form in zipForms as necessary
D. all of the above
Answer:
d. all of the above
Question 7: An interpleader action is:
A. a court action
B. a formal written protest to the seller
C. a formal written apology to the buyer
D. none of the above
Answer:
a. a court action
Question 8: If there is a disagreement between the buyer and seller
during escrow, the escrow officer may disburse funds:
A. as a result of judgment between the buyer and seller
B. if the parties to the escrow agree
C. if a binding arbitrator settles the matter
D. all of the above would allow the escrow officer to disburse funds
Answer:
d. all of the above would allow the escrow officer to disburse funds
, Question 9: Which of the following would not be prorated in
escrow?
A. rents
B. impounds
C. title insurance premium
D. property taxes
Answer:
c. title insurance premium
Question 10: A partial premium refund on fire insurance is called:
A. a short rate
B. an impound
C. title insurance
D. all of the above
Answer:
a. a short rate
Question 11: Every recorded change of ownership and/or claim of
ownership on a property is in the:
A. grant deed
B. abstract of title
C. title insurance polocy
D. preliminary title report
Answer:
b. abstract of title
