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CALIFORNIA REAL ESTATE SALESPERSON FINAL
EXAM WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST 2024 –
2025 ALREADY GRADED A+
Stock in a mutual water company is best described as: - (answers)Real Property
When two ore more parties own real property as co-owners with the right of
survivorship, what is the tenancy called? - (answers)Joint Tenancy
How long must one use another's land open and notoriously to obtain an
easement by prescription? - (answers)5 years
Adverse possession is an example of how title to land an be acquired by: -
(answers)Occupancy
In the Rectangular Survey System, what would one call the lines running East and
West? - (answers)Base lines
All property acquired by a husband and wife during a valid marriage (except for
separate property) is called: - (answers)Community Property
What is the fullest freehold estate in fee that one can hold?
A) Life Estate
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B) Fee Simple Absolute
C) Fee Simple Conditional
D) Lease Hold Estate - (answers)B) Fee Simple Absolute
That which is immovable by law is also known as: - (answers)Real property
The most common way to create an agency relationship is: - (answers)Agency by
agreement
If an agent provides the buyer with the Real Estate Transfer Disclosure Statement
after the offer is presented, how long does the buyer have to rescind the
agreement? - (answers)3 days
A seller's agent may do all of the following except: - (answers)Say, "Leave it to me.
I can get you the house at the price you want."
As a result of the decision in (Easton v. Strassburger, 1984) real estate agents can
be held liable for not only for defect they know about but also: - (answers)Defects
they should have known about through a reasonable inspection.
A broker is considered which of the following to the principal? - (answers)Special
agent
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What properties are touched and concerned by Agency Disclosure Law? -
(answers)1-4 unit residential property.
When underwriting a loan application, a mortgage company is usually interested
in which of these values? - (answers)Market Value
Which of the following would not be depreciated? - (answers)Unimproved land
leases for open storage.
An investor buys an apartment building for $140,000 after estimating that it will
have a net income of $40,000 annually. Which value principle is at work here? -
(answers)Principle of anticipation
In order to discover the fair income of the property, an appraiser looks at what? -
(answers)Economic rent
The life cycle of a neighborhood occurs in these four stages, in this order: -
(answers)Growth, Stability, Decline, Revitalization.
According to the principle of conformity, a residential property maintains a higher
value when it - (answers)Is in the center of its subdivision.
The note that calls for payment of interest only is called a/an: - (answers)Straight
note
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The note that calls for periodic payment of both principal and interest so both are
paid by the end of the term is called a/an: - (answers)Fully amortized installment
note.
A process which allows a borrower to remain in possession of the property while
using it to secure a loan is called: - (answers)Hypothecation
The term that describes the interest of a creditor in the property of a debtor: -
(answers)Security Interest
The deed of trust is considered to be: - (answers)Security for the debt
Who is the borrower in the written promise to pay a debt? - (answers)Maker
A couple is divorcing. The husband is ordered to convey his interest to the wife.
When must she receive the Transfer Disclosure Statement? - (answers)It is not
requried.
What law applies to the sale of a business? - (answers)Bulk transfer laws.
Real property may be transferred or alienated by all of the following except: -
(answers)Inheritance.
CALIFORNIA REAL ESTATE SALESPERSON FINAL
EXAM WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST 2024 –
2025 ALREADY GRADED A+
Stock in a mutual water company is best described as: - (answers)Real Property
When two ore more parties own real property as co-owners with the right of
survivorship, what is the tenancy called? - (answers)Joint Tenancy
How long must one use another's land open and notoriously to obtain an
easement by prescription? - (answers)5 years
Adverse possession is an example of how title to land an be acquired by: -
(answers)Occupancy
In the Rectangular Survey System, what would one call the lines running East and
West? - (answers)Base lines
All property acquired by a husband and wife during a valid marriage (except for
separate property) is called: - (answers)Community Property
What is the fullest freehold estate in fee that one can hold?
A) Life Estate
,2|Page
B) Fee Simple Absolute
C) Fee Simple Conditional
D) Lease Hold Estate - (answers)B) Fee Simple Absolute
That which is immovable by law is also known as: - (answers)Real property
The most common way to create an agency relationship is: - (answers)Agency by
agreement
If an agent provides the buyer with the Real Estate Transfer Disclosure Statement
after the offer is presented, how long does the buyer have to rescind the
agreement? - (answers)3 days
A seller's agent may do all of the following except: - (answers)Say, "Leave it to me.
I can get you the house at the price you want."
As a result of the decision in (Easton v. Strassburger, 1984) real estate agents can
be held liable for not only for defect they know about but also: - (answers)Defects
they should have known about through a reasonable inspection.
A broker is considered which of the following to the principal? - (answers)Special
agent
,3|Page
What properties are touched and concerned by Agency Disclosure Law? -
(answers)1-4 unit residential property.
When underwriting a loan application, a mortgage company is usually interested
in which of these values? - (answers)Market Value
Which of the following would not be depreciated? - (answers)Unimproved land
leases for open storage.
An investor buys an apartment building for $140,000 after estimating that it will
have a net income of $40,000 annually. Which value principle is at work here? -
(answers)Principle of anticipation
In order to discover the fair income of the property, an appraiser looks at what? -
(answers)Economic rent
The life cycle of a neighborhood occurs in these four stages, in this order: -
(answers)Growth, Stability, Decline, Revitalization.
According to the principle of conformity, a residential property maintains a higher
value when it - (answers)Is in the center of its subdivision.
The note that calls for payment of interest only is called a/an: - (answers)Straight
note
, 4|Page
The note that calls for periodic payment of both principal and interest so both are
paid by the end of the term is called a/an: - (answers)Fully amortized installment
note.
A process which allows a borrower to remain in possession of the property while
using it to secure a loan is called: - (answers)Hypothecation
The term that describes the interest of a creditor in the property of a debtor: -
(answers)Security Interest
The deed of trust is considered to be: - (answers)Security for the debt
Who is the borrower in the written promise to pay a debt? - (answers)Maker
A couple is divorcing. The husband is ordered to convey his interest to the wife.
When must she receive the Transfer Disclosure Statement? - (answers)It is not
requried.
What law applies to the sale of a business? - (answers)Bulk transfer laws.
Real property may be transferred or alienated by all of the following except: -
(answers)Inheritance.
