California Real Estate Final Exam Questions with Correct Answers

California Real Estate Final Exam Questions with Correct Answers responded to the a, but did not reveal that in order to be eligible, the person must visit Wilderness and listen to a sales presentation. If all the prize winners late become owners in wilderness, is there anything wrong with this practice? - Answer-Yes, anyone offering prizes or gifts must reveal any required attendance at a sales presentation when offering the prize or gift When a builder is allowed to make a change in construction that is not in accordance with the local or state building code, it is known as - Answer-An exception to use In accordance with the state law that requires the broker to make a competent and diligent inspection of a residential property being sold by the broker, the broker is required to - Answer-Visually make a diligent inspection of the property and disclose all pertinent information Stanford entered intoa contract to purchase a home and neither the owner not he broker disclosed to the buyer that the home was hooked up to a septic tank and not a local sewer system. In this instance, the buyer has the right to - Answer-Rescind the contract Consideration in a contract can be - Answer-Anything of value exchanged between the parties services One dollar *Any of the above The major cause of loss in value on an extremely old structure would depreciation resulting from - Answer-Obsolescence A lease based on the gross sales of a business is a - Answer-Percentage lease When a lease requires the tenant to pay certain expenses of the property in addition to the rent, the lease is called - Answer-A net lease In which of the following contacts does one of the parties agree not to evoke an offer for certain period of time? - Answer-An option An appaiser is appreising a property by using a gorss rent mulitplire. She located a comparable property that was renting for $600 a moth and recently sold for $90,000. If the property which is being appraised will rent for $640 a month, the vaule of the property is most nearly? - Answer-$96,000 A lender usually uses in impound account for - Answer-Reserves Legally and technically, property is defined as - Answer-Rights or interests which a person has in the thing owned An easement could be created for which of the following - Answer-Perpetuity