California Broker Real Estate Exam Questions & Answers

Broker A receives two offers on Seller B's house, which is listed for sale at $250,000. The first offer is for all cash at $200,000. The second offer is for 20% down with 80% financing for the full price. What should the broker do with respect to both offers? - ANSWERPresent both offers to the seller as soon as possible. The two primary documents dealing with payment of a loan are the mortgage or deed of trust and a - ANSWERpromissory note. The term that best describes a continuous urban corridor joining at least two cities is - ANSWERmegalopolis. The term real property can also be described as - ANSWERthe bundle of rights. The rights of a landowner to a river bordering her property are known as - ANSWERriparian rights. In the case of a transfer of ownership of a piece of real estate, a fixture is normally - ANSWERassumed to be included in the transfer. A tenant who operates a jewelry store wants to take his jewelry cases with him at the expiration of the lease. What is the best solution? - ANSWERHe may take the cases if removal will not cause substantial damage. A legal description of property is not adequate unless - ANSWERland boundaries are defined. The lot and block system of property description is not also known as the - ANSWERrectangular survey system. What best describes the interests of the holder of a life estate? - ANSWERpossession, use, and ownership How many acres does a section of land contain? - ANSWER640 acres The requirement that multiple owners take title to property at the same time is a characteristic of - ANSWERjoint tenancy. The type of ownership that provides the most complete bundle of rights is - ANSWERfee simple absolute. Which are most similar to each other with respect to inheriting property? - ANSWERjoint tenancy and community property with right of survivorship (both allow for reversion to remaining owners) A statement of the goals and policies regarding growth of a community is a good definition of the - ANSWERgeneral plan. The primary difference between a common interest subdivision and a standard subdivision is - ANSWERownership of common areas. Which of the following is a generic term for a group of people joining together to invest in real estate? - ANSWERsyndicate The proper way for a landowner who has physical difficulty in developing his property to get relief is to obtain a - ANSWERvariance. When is a landowner entitled to compensation for a change in zoning? - ANSWERwhen the landowner is denied all practical economic use of the property At which lot does the Subdivided Lands Law take effect? - ANSWERthe fifth lot