California Broker Real Estate Exam Questions and Answers with complete

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? - Answer-Present 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 - Answer-promissory 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 - Answer-the bundle of rights. The rights of a landowner to a river bordering her property are known as - Answer-riparian rights. In the case of a transfer of ownership of a piece of real estate, a fixture is normally - Answer-assumed 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? - Answer-He may take the cases if removal will not cause substantial damage. A legal description of property is not adequate unless - Answer-land boundaries are defined. The lot and block system of property description is not also known as the - Answer-rectangular survey system. What best describes the interests of the holder of a life estate? - Answer-possession, use, and ownership How many acres does a section of land contain? - Answer-640 acresThe requirement that multiple owners take title to property at the same time is a characteristic of - Answer-joint tenancy. The type of ownership that provides the most complete bundle of rights is - Answer-fee simple absolute. Which are most similar to each other with respect to inheriting property? - Answer-joint 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 - Answer-general plan. The primary difference between a common interest subdivision and a standard subdivision is - Answer-ownership of common areas. Which of the following is a generic term for a group of people joining together to invest in real estate? - Answer-syndicate The proper way for a landowner who has physical difficulty in developing his property to get relief is to obtain a - Answer-variance. When is a landowner entitled to compensation for a change in zoning? - Answer-when the landowner is denied all practical economic use of the property