California Real Estate License Exam 1 Questions and Answers with complete

1.1. A title was recorded for a parcel of real property vested in the name of Johan Wilson, a single woman. After her marriage to William Roberts, she executed a deed to the property only in the name of Johan Roberts, a married woman. The discrepancy in the grantors name is: A. Valid if William Roberts agrees to it B. A defect on title that may cause title to be vested as tenants in common C. Immaterial if the property is properly described D. A defect which may cause a cloud on the title - Answer-A defect which may cause a cloud on the title. 1.2. Which contract would be the most difficult for a buyer to obtain financing? A. Land Contract B. FHA C. VA D. Conventional - Answer-Land Contract 1.3. When a broker runs an advertisement, the broker must disclose: A. Last name of the broker B. Name of the broker C. Name of broker and salesperson D. Name of the salesperson - Answer-Name of the broker 1.4. Following in-house sales are true, except: A. The listing agent can act as a dual agent B. The listing broker can act as a buyers agent only C. The broker may purchase the property himself D. The seller may represent the seller only - Answer-The seller may represent the seller only1.5. The Federal Housing Administration (FHA) was created primarily: A. To provide insurance for home loans in the secondary market B. To insure the borrower C. To provide insurance for home loans made by approved lender D. To improve the economy for mortgage bankers - Answer-To provide insurance for home loans made by approved lenders 1.6. Which of the following loans on a home would probably be made without requiring a down payment from the borrower? A. VA Loan B. CAL-VET C. FHA D. Conventional - Answer-VA Loan