CALIFORNIA REAL ESTATE Study guides, Class notes & Summaries

California Broker Real Estate Exam Questions with Verified Answers All agency agreements for the sale of property must be in writing except creation of an agency by - Answer-there are no exceptions. The most profitable single use that will generate the highest value for a piece of property is called it's - Answer-highest and best use. Broker A agrees in writing to keep details of Seller B's property in his files but indicated that he will not actively market it. Seller B agrees to p...

California Real Estate Actual Exam Questions with Correct Answers A land developer should initially: a. acquire the land. b. do a cost analysis. c. do a market analysis. d. determine the development costs. - Answer-c. do a market analysis. Otherwise referred to as a "feasibility" study, which will help determine if this or other alternatives should be pursued. Which of the following is NOT real property? a. Giant redwood tree growing in yard b. Stock in mutual water company...

California Real Estate Actual Practice Exam Questions with Correct Answers The unlawful appropriation of another's property or funds is known as...? - Answer-conversion The Fair Employment Housing Act is also known as the Rumford Fair Housing Act...? - Answer-false Which of the following is considered a support or service animal...? - Answer-seeing eye dog Real estate brokers are required to maintain records of each transaction for at least how many years...? - Answer-3 This fede...

California Real Estate Agent Exam Questions and Answers Agent Course Work - Answer-To qualify to take the real estate agent license CalBRE exam, an applicant completes a three-semester unit course, or the quarter equivalent, in: • real estate principles; • real estate practice; and • one elective course in the following subjects: • legal aspects of real estate; • real estate finance; • property management; • real estate appraisal; • real estate economics or accounting; • bus...

CALIFORNIA REAL ESTATE EXAM #2 REVIEW QUESTIONS WITH CORRECT ANSWERS Impounds are monies set aside (reserves) to cover future payments of recurring costs such as taxes and insurance. Foreclosure by sale would NOT involve a: (a) publication period. (b) deed of reconveyance. (c) notice of default. (d) Any of the above - Answer-B When the trustee sells property under the power-of-sale provision in a deed of trust, the recording of the Notice of Default by the trustee commences the th...

California Real Estate Exam Common Questions with Complete Solutions An impound or reserve account MOST benefits whom? - Answer-lender

California Real Estate Exam Multiple Choice Questions with Correct Answers For a straight-line schedule of depreciation: a. earlier years receive more weight. b. later years receive more weight. c. each year receives equal weight. d. none of the above. - Answer-c. each year receives equal weight. For straight-line, the value is divided by the number of years over which depreciation is run—the same amount for each year. For "accelerated" methods, allow greater amounts of depreci...

California Real Estate Exam Questions and Answers (Rated A+) Allodial System - Answer-Individuals are entitled to own property without proprietary control of the king/government. Freehold estate - Answer-A freehold estate means, "I own the property." It is what we think of as "ownership." There is no definite ending date. The estate lasts at least a lifetime, because the property can be willed to a person's heirs. Leasehold estate - Answer-A leasehold estate means, "I rent the pro...

California Real Estate Exam Study Guide Questions with Correct Answers What is the DOCTRINE OF EMINENT DOMAIN? - Answer-Private property taken for beneficial public use. Examples: Freeways, highways, dams, power stations, hospital sites, parks, etc. How does the process of Eminent Domain work? - Answer-a. A negotiation is made to purchase the land. 1) Owner may sell. Owner is compensated. 2) Owner may refuse to sell. If owner refuses to sell, power of condemnation is invoked. Owner stil...

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 con...