CA Real Estate Practice Course- Practice
Exam Test Questions With Exact Answers.
What's the failure rate for new real estate licensees? - Correct Answer-87%
Which of these lenders would be least likely to approve a short sale? - Correct Answer-
Junior lenders
A parking structure has 150 total spaces. How many of these spaces must be accessible?
- Correct Answer-Five
Who usually represents the lender at a closing? - Correct Answer-Lender's attorney
To whom does an agent owe the duty of disclosure of material facts? - Correct Answer-All
parties to a transaction
You're a California broker. That means you must reconcile your trust fund accounts
____________. - Correct Answer-Monthly
Butch and Meg listed their five-bedroom Colonial and are looking for a three-bedroom
luxury townhome to buy. Now that their kids have grown and moved away, they don't need
such a big house, but definitely want to be close to parks, major travel routes, and the local
casino (Meg loves the slots). What buyer category most fits Butch and Meg? - Correct
Answer-Trade-down buyers
The Lanham Act gives companies what right? - Correct Answer-The right to sue
competitors using deceptive claims in ads
______ tend to benefit most in a cold market. - Correct Answer-Buyers
Which of the following is a role of an agent who's assisting the buyer, but representing the
seller? - Correct Answer-Present the buyer's offer.
Your clients have made an offer to purchase on a beautiful home that is in a perfect
location for their family. The offer is accepted. A week later, the seller's agent finally
, provides the TDS and other required disclosures. To everyone's dismay, the disclosures
show that there are some serious issues that were not apparent in your visual inspection.
What can your buyers do? - Correct Answer-Buyers have three days after delivery of the
TDS to rescind the purchase agreement.
With an option contract, which of the following constitutes a breach of contract? - Correct
Answer-The optionor sells the property without the option contract to someone other than
the optionee.
Three brokers meet and agree that all of their listing contracts will have one-year terms. Of
which type of antitrust violation is this an example? - Correct Answer-Price fixing
What's a good strategy for an agent representing a seller as the closing date approaches?
- Correct Answer-Use a closing task checklist.
The 1950 case involving the District of Columbia's Washington Board of Realtors and the
National Association of REALTORS® determined that real estate boards that set
schedules of fixed or mandatory real estate commissions or fees violated this law. -
Correct Answer-The Sherman Antitrust Act
Bonnie always schedules an in-person meeting with prospective buyers before she
begins sending them data on properties. Why might this be? - Correct Answer-She needs
to define the buyers' needs and wants.
How can privacy tools available on most social networking sites protect your personal
safety? - Correct Answer-They can allow you to control what pictures and information
other people see.
Why should you know when the seller can vacate the property? - Correct Answer-If a
buyer wants to close before the seller can vacate, the seller may need to rent it back from
the buyer.
Lana is a client who is seeking to purchase some investment property. What does this tell
you about her transaction? - Correct Answer-She'll want cash flow or a high rate of return.
Who's responsible for any tax reserves required to pay property taxes? - Correct Answer-
The buyer
Exam Test Questions With Exact Answers.
What's the failure rate for new real estate licensees? - Correct Answer-87%
Which of these lenders would be least likely to approve a short sale? - Correct Answer-
Junior lenders
A parking structure has 150 total spaces. How many of these spaces must be accessible?
- Correct Answer-Five
Who usually represents the lender at a closing? - Correct Answer-Lender's attorney
To whom does an agent owe the duty of disclosure of material facts? - Correct Answer-All
parties to a transaction
You're a California broker. That means you must reconcile your trust fund accounts
____________. - Correct Answer-Monthly
Butch and Meg listed their five-bedroom Colonial and are looking for a three-bedroom
luxury townhome to buy. Now that their kids have grown and moved away, they don't need
such a big house, but definitely want to be close to parks, major travel routes, and the local
casino (Meg loves the slots). What buyer category most fits Butch and Meg? - Correct
Answer-Trade-down buyers
The Lanham Act gives companies what right? - Correct Answer-The right to sue
competitors using deceptive claims in ads
______ tend to benefit most in a cold market. - Correct Answer-Buyers
Which of the following is a role of an agent who's assisting the buyer, but representing the
seller? - Correct Answer-Present the buyer's offer.
Your clients have made an offer to purchase on a beautiful home that is in a perfect
location for their family. The offer is accepted. A week later, the seller's agent finally
, provides the TDS and other required disclosures. To everyone's dismay, the disclosures
show that there are some serious issues that were not apparent in your visual inspection.
What can your buyers do? - Correct Answer-Buyers have three days after delivery of the
TDS to rescind the purchase agreement.
With an option contract, which of the following constitutes a breach of contract? - Correct
Answer-The optionor sells the property without the option contract to someone other than
the optionee.
Three brokers meet and agree that all of their listing contracts will have one-year terms. Of
which type of antitrust violation is this an example? - Correct Answer-Price fixing
What's a good strategy for an agent representing a seller as the closing date approaches?
- Correct Answer-Use a closing task checklist.
The 1950 case involving the District of Columbia's Washington Board of Realtors and the
National Association of REALTORS® determined that real estate boards that set
schedules of fixed or mandatory real estate commissions or fees violated this law. -
Correct Answer-The Sherman Antitrust Act
Bonnie always schedules an in-person meeting with prospective buyers before she
begins sending them data on properties. Why might this be? - Correct Answer-She needs
to define the buyers' needs and wants.
How can privacy tools available on most social networking sites protect your personal
safety? - Correct Answer-They can allow you to control what pictures and information
other people see.
Why should you know when the seller can vacate the property? - Correct Answer-If a
buyer wants to close before the seller can vacate, the seller may need to rent it back from
the buyer.
Lana is a client who is seeking to purchase some investment property. What does this tell
you about her transaction? - Correct Answer-She'll want cash flow or a high rate of return.
Who's responsible for any tax reserves required to pay property taxes? - Correct Answer-
The buyer
