Real Estate Principles Final Exam Questions and Answers

Real Estate Principles Final Exam Questions and Answers Anything that is fastened or attached to real property permanently is considered to be: - Answer- Real Property A quitclaim deed releases all present claims, rights and title of the: - Answer- Grantor When a creditor wants to satisfy a judgement which was levied against another person, the creditor would: - Answer- Obtain a writ of execution Before a mechanics lien is effective it must be: - Answer- Verified and recorded Discrimination by a real estate licensee based on race is: - Answer- A violation of the regulations of the Real Estate Commissioner, against public policy, and unethical Upon the signing of a real property sales contract: - Answer- An equitable title passes to purchaser All California Real Estate Laws are created by: - Answer- Acts of the legislature The 36 sections in a township are numbered from 1 through 36. Section 1 is located in the: - Answer- Northeast corner Which of the following would be a discriminatory act under the Commissioner's Regulations? - Answer- Posting a sign on the property indicating a preference for female renters, designing an ad for general circulation appealing to persons of a specific religion to purchase within a given area, and refusing to list a property in an area occupied by persons of a race other than the licensee. The type of interest usually charged on home loans is: - Answer- Simple A landowner is notified by a railroad company that it plans to cross his property with a railroad line. If the landowner refuses, the railroad company can proceed by the use of: - Answer- Eminent domain Title to real property that is transferred by a will is considered: - Answer- A devise A real estate broker received 40 acres of land valued at $300 per acre as a commission from the seller. Two weeks after escrow closed, the broker was offered $400 per acre for the land. If the broker accepts the offer he: - Answer- Will be acting in an acceptable manner The words "procuring cause" would have an important meaning to which of the following? - Answer- A disputed over commission on an open listing Which of the following is not an essential element of a contract? - Answer- Performance Under the Street Improvement Act of 1911, the city is authorized to assess each owner for the work completed. These improvements are assessed on the basis of: - Answer- Front footage The real estate tax fiscal year is for the period: - Answer- July 1 to July 1 The landmark case of the United States Supreme Court which prohibited discrimination in housing was: - Answer- Jones vs. Mayer