- Study guides, Class notes & Summaries

How many baseline and meridian systems in CA? - ANSWER3 A resident of Nebraska who owns property in CA dies while in Vermont. The probate procedures for this property are in? - ANSWERCA In the order in which they are to occur, the three steps of agency discosure are? - ANSWERdisclose, elect, confirm The value of a residential property is best measured by which of the following groups of characteristics? - ANSWERDemand, utility, scarcity, and transferability Collateralized loan - ANSW...

-

23 pages

Written in 2023/2024

Grade A+

suedocs

When agent Andy took a listing, he promised the seller that he would advertise the property in a magazine until it was sold. Andy told the seller he submitted the ad, but the magazine said Andy never contacted them or submitted the ad. Andy is guilty of: - ANSWERActual Fraud A fee simple estate is: - ANSWERan estate of inheritance If an appraiser is appraising a special purpose property he would probably use the: - ANSWERCost Approach The main purpose of "RESPA" (Real Estate Settlemen...

-

6 pages

Written in 2023/2024

Grade A+

suedocs

Which of the following is most vital or important in planning a subdivision: -Answer Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: -Answer Percentage Lease What is not an adequate method of transferring property? -Answer Executive Sale What is considered personal property? -Answer Existing Mortgage If an income property is valued at $100,000 based on an 8% capitalization rate, what would be the value of ...

-

13 pages

Written in 2023/2024

Grade A+

suedocs

What are the two types of freehold estates? - ANSWER1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? - ANSWERAn estate in fee simple absolute What type of estate do you own if someone grants you real property for you to own only during your lifetime? When you die, the property reverts back to original estate owner. - ANSWERa life estate The rights of tenants who rent or lease ...

-

10 pages

Written in 2023/2024

Grade A+

suedocs

A rectangular lot contained 17,550 square feet. It measured 150 feet deep. A man wanted to build a store and needed more land. He could buy one lot on each side of this lot. Each of the side lots was the same size and the same shape. Each was 150 feet deep. Each contained 6,000 square feet. If he purchased all three lots, what would be the front footage: - ANSWER197; When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - ANSWERA percen...

-

52 pages

Written in 2023/2024

Grade A+

Papersbysue

A property owner has an easement appurtenant on her property. One day the property is sold to another party who is opposed to the easement. Following the closing, this particular form of easement does what? - ANSWERtransfers with the owner to a new property. A property owner is precluded by deed restriction from developing a thirty foot boat dock. The limitation prompts the owner to sell to another party. The new owner takes? - ANSWERtakes title subject to the same restriction. Which of th...

-

5 pages

Written in 2023/2024

Grade A+

Papersbysue

Land - ANSWERThe physical property and any natural objects on it - like trees and bodies of water, often referred to as a "lot', "site", or "parcel". Real estate - ANSWERgenerally refers to land with permanent manmade improvements. Real property - ANSWERrefers not only to the land and its improvements, but also the bundle of rights, powers, and privileges ("bundle of rights") that are legally connected to ownership of that land. Transferred by deed. Tangible rights - ANSWERbased...

-

25 pages

Written in 2023/2024

Grade A+

Papersbysue

How many baseline and meridian systems in CA? - ANSWER3 A resident of Nebraska who owns property in CA dies while in Vermont. The probate procedures for this property are in? - ANSWERCA In the order in which they are to occur, the three steps of agency discosure are? - ANSWERdisclose, elect, confirm The value of a residential property is best measured by which of the following groups of characteristics? - ANSWERDemand, utility, scarcity, and transferability Collateralized loan - ANSW...

-

23 pages

Written in 2023/2024

Grade A+

Papersbysue

When agent Andy took a listing, he promised the seller that he would advertise the property in a magazine until it was sold. Andy told the seller he submitted the ad, but the magazine said Andy never contacted them or submitted the ad. Andy is guilty of: - ANSWERActual Fraud A fee simple estate is: - ANSWERan estate of inheritance If an appraiser is appraising a special purpose property he would probably use the: - ANSWERCost Approach The main purpose of "RESPA" (Real Estate Settlemen...

-

6 pages

Written in 2023/2024

Grade A+

Papersbysue

Which of the following is most vital or important in planning a subdivision: -Answer Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: -Answer Percentage Lease What is not an adequate method of transferring property? -Answer Executive Sale What is considered personal property? -Answer Existing Mortgage If an income property is valued at $100,000 based on an 8% capitalization rate, what would be the value of ...

-

13 pages

Written in 2023/2024

Grade A+

Papersbysue

What are the two types of freehold estates? - ANSWER1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? - ANSWERAn estate in fee simple absolute What type of estate do you own if someone grants you real property for you to own only during your lifetime? When you die, the property reverts back to original estate owner. - ANSWERa life estate The rights of tenants who rent or lease ...

-

10 pages

Written in 2023/2024

Grade A+

Papersbysue

Ca DRE 2023 Test Questions And Answers The term "property" refers to - ANSWER- The rights or interests in the thing owed Which of the following is considered real property? - ANSWER- Airspace above the land Which of the following is considered personal property? - ANSWER- Leasehold estate which of the following is considered personal property - ANSWER- emblements The highest quality and quantity of ownership in real property is: - ANSWER- fee simple Which test is not a genera...

-

10 pages

Written in 2023/2024

Grade A+

ScholarExams

If property is sold while in probate - ANSWERCommission is only controlled by law under two situations. One being the Real Property Loan Law and... Real Property Loan Law - ANSWERCommission is only controlled by law under two situations. One being If property is sold while in probate and... agent of the broker - ANSWERThe Broker is the Agent of the seller. The salesperson is the principle or 3rd party - ANSWERThe Broker is the Agent of the seller. The salesperson is the sub-agent of the...

-

12 pages

Written in 2022/2023

Grade A+

nursingismylife

The laws from which the majority of our laws are patterned. - ANSWEREnglish Common Law Are of Mexican or Spanish Origin, and were retained through theTreaty of Guadalupe Hidalgo. - ANSWERCommunity Property Law Anything Movable. Any property not considered real. - ANSWERPersonal Property Anything Immovable or Immovable By Law. Any property not considered personal. - ANSWERReal Property Any document relating to a right or interest held in real property. Examples: Leases or rentals on ...

-

12 pages

Written in 2022/2023

Grade A+

nursingismylife

Broker A receives two offers on Seller B's house, which is listed for sale at $250,000. The first offer is for all cash at $200,000. The second offer is for 20% down with 80% financing for the full price. What should the broker do with respect to both offers? - ANSWERPresent both offers to the seller as soon as possible. The two primary documents dealing with payment of a loan are the mortgage or deed of trust and a - ANSWERpromissory note. The term that best describes a continuous urban ...

-

53 pages

Written in 2022/2023

Grade A+

nursingismylife

Alien Registration Receipt Card - ANSWERIdentification card, also known as a green card, that provides proof of legal presence in the United State of someone who is a citizen of another country Associate Licensee - ANSWERA real estate salesperson who works as the employee of a broker; sales asscoiate blind advertising - ANSWERAd in which the name of the person placing the ad is not mentioned broker office - ANSWERA licensed broker who is an officer of a brokerage that is set up as a cor...

-

5 pages

Written in 2022/2023

Grade A+

nursingismylife

What are the two types of freehold estates? - ANSWER1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? - ANSWERAn estate in fee simple absolute What type of estate do you own if someone grants you real property for you to own only during your lifetime? When you die, the property reverts back to original estate owner. - ANSWERa life estate The rights of tenants who rent or lease ...

-

10 pages

Written in 2022/2023

Grade A+

nursingismylife

An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising out of ownership. b. the ability of one commodity to command other commodities in exchange. c. relationship between the thing desired and the potential purchaser. d. all of the above. - ANSWERd. all of the above. These are elements of value. Which of the following abbreviations is associated with the FHA? a. NAR b. CPM c. MIP/MMI d. MBA - ANSWERc. MIP/MMI MIP - Mortgage...

-

126 pages

Written in 2022/2023

Grade A+

nursingismylife

mentor - ANSWERA person who guides a trainee through the first few months or transactions as a salesperson property management - ANSWERThe operation and maintenance of rental properties appraiser - ANSWERA person who estimates property value prospecting - ANSWERThe act of seeking out potential clients listing agreement - ANSWERA contract between the property owner and the broker to place properties for sale with the brokerage offer to purchase - ANSWERThe proposal made by a potent...

-

5 pages

Written in 2022/2023

Grade A+

shantelleG

DRE - ANSWERAdministers and enforces real estate laws and regulation. Business and Professions Code - ANSWERCalifornia code that contains the Real Estate Law, which includes real estate licensing, transaction requirements, and Subdivided Lands Law. Sections 10000-10580 Real Estate Law Sections 11000-11200 Subdivided Land Laws What can you do on the DRE website? - ANSWERCheck results Obtain current testing schedule Renew salesperson and broker licenses Change salesperson's empl...

-

6 pages

Written in 2022/2023

Grade A+

shantelleG