California Real Estate License Exam Prep: Simulated Exam #2 Actual Questions And 100% Guaranteed Answers.

The property taxes for a condominium ujit are paid by the: - correct answer owner of the condominium Which of the following action does not constitute constructive eviction under a lease? - correct answer The owner evicts the tenant after proper service of a 3 day notice to quit What are the 3 steps of the agency disclosure in proper chronological order? - correct answer disclose, elect, confirm A broker who simultaneously represents the best interests of both opposing parties in a transaction is known as a(n): - correct answer dual agent Barnard made an offer to buy a vacant residence. The offer was acceoted by the seller. Prior to the close of escrow, Barnard requested permission from the broker to enter and make minor repairs to the house. Which of the following is true? - correct answer The broker needs to get permission from the owner Broker Sarah delivered an offer to purchase real property to Owner Martha. Owner Martha asked for 24 hours to consider the offer. Later that same day, Broker Sarah received two additional offers through other brokers. Broker Sarah believes the owner will reject all 3 offers. In order to comply with then law, Broker Sarah is to: - correct answer simultaneously present the 2 additional offers to Owner Martha as soon as possible What contributes to the value of a well planned neighborhood versus a poorly planned neighborhood? - correct answer conformity of size and style An appraiser views the addition of an apartment building under which appraisal principle? - correct answer contribution what type of depreciation is the most challenging to correct? - correct answer economic obsolescence return of an investor's investment is provided through: - correct answer depreciation the maximum number of properties that can be covered by a trust deed without a blanket encumbrance is: - correct answer one Heather, a single mother, is able to get down payment assistance as well as below market rate of interest on her mortgage. What type of mortgage did she receive? - correct answer CAlHFA deficiency judgments can be only granted when: - correct answer a property has been judicially foreclosed Sally applied for a real estate loan. Then lender can lawfully require her to answer questions in regards to her: - correct answer income a husband nominates his wife to manage his will. Thus, she will function as an: - correct answer executrix If a buyer and seller decide to rescind a deal after the deed has been recorded, the buyer has to: - correct answer provide a new grant deed to the seller Broker fees deposited with the broker before they are earned are called: - correct answer advance fees an exception in a grant deed: - correct answer excludes part of the property from the grant to be valid, restrictions in a grant deed need to: - correct answer be contained in a deed or written agreement the maximum commission a loan broker may charge to negotiate an $8,000 hard money first trust deed that is due in 2 years is: - correct answer $400 a seller carryback note is classified as a _________ lien - correct answer specific The real estate commissioner's rules: - correct answer not rules, they are regulations or laws which carry more weight a motivated seller in a seller's market is least likely to accept an offer contingent on the: - correct answer results of a termite inspection seller Sally lists her property with Agent Fred and receives an offer. Agent Fred convinces Seller Sally to accept the offer by verbally promising her he will find her an ideal replacement home before the close of escrow. Agent Fred is unable to find an acceptable replacement home for Seller Sally before the close of escrow Which of the following is most correct? - correct answer Seller Sally can recover damages against Fred in a civil lawsuit as a result of her reliance on his promise a flood hazard report will note that flooding is frequesnt when it is described as: - correct answer occurring at least twice every 10 years Valid contracts require all of the following except: - correct answer written documentation If present at the formation of a contract, which of the following does not make a contract voidable? - correct answer illegal purpose if a lease requires the tenant to pay certain expenses such as taxes, maintenance or insurance is addition to the rent, the lease is classified as a(n): - correct answer net lease when rent is computed based on the gross sales of a business occupying the property, the lease is classified as a(n): - correct answer percentage lease On which type of listing contract is a broker required to state the amount of their commission? - correct answer 1-4 unit residential property listing agreements If a 16 year old emancipated minor wishes to sell real property, theri broker may: - correct answer accept the listing If a strip of land is washed away by a flood, this action is known as: - correct answer avulsion which of these is a direct building cost? - correct answer lumber a residence that has 6" x 6" posts set 4' apart instead of 2" x 4" studs is an example of ___________ construction - correct answer post and beam Which of the following is not a soil condition? - correct answer deciduous What is a "gore"? - correct answer a triangle shaped parcel of land a broker provides services to both a buyer and a seller in a transaction without disclosing theri dual agency status. This is an example of: - correct answer ostensible agency which of these actions does not create an agency relationship? - correct answer subornation a listing broker sells an office building to a syndicate of which the broker is a member without informing the seller of his interest. Before closing, the seller discovers the broker's interest and refuses to sell. what would happen in a civil suit to collect a commission? - correct answer no commission would be due which of the following is an illegal activity for a broker under agency law? - correct answer depositing additional personal funds into a client's trust account an agency relationship in real estate is terminated in multiple ways. Which of these is NOT likely to cause a termination of an agency relationship? - correct answer Estoppel