CALIFORNIA HOUSEHOLD MOVERS’ EXAM BANK
ACCURATE REAL EXAM QUESTIONS AND ANSWERS
WITH RATIONALES AND A STUDY GUIDE California
Household Movers’ Exam Practice Test Based on
CPUC Regulations – Standard Difficulty Includes
Answers
Lillian is buying Julia's home in Malibu. Julia, after selling her home to Lillian, is
buying Anne Marie's condo in San Francisco. In these transactions, who is the
grantor and who is the grantee? - Answer-Lillian is the grantee and Julia is the
grantor. Julia is the grantee and Anne Marie is the grantor.
In a general warranty deed, the implied promise: "If there is a defect, I promise to
take care of any problems" is referred to as: - Answer-A Covenant of Further
Assurance
Marcus wants to have the deed to his new home recorded to protect his
ownership rights. In order to record the deed, it must be notarized. Marcus must
go before a notary public and verify the signing of the deed. The notary then signs
the deed. The verification of Marcus' signature in the signing of the deed is known
as: - Answer-Acknowledgment
In early common law, transfers of land were only made when: - Answer-The
transfer of land from father to son, upon the father's death would take place.
,Jack is leasing a home from Justin for a year. He has decided to lease until he gets
a good feel for the area and knows where he wants to buy. In this relationship,
who has the reversionary right and who has the possessory right ? - Answer-Jack
has the possessory right and Justin the reversionary right.
Thad and Pierre made an appointment to view a condo for lease advertised in the
newspaper. Thad phoned the landlord and set up a viewing for two hours later in
the day. The couple thought the condo was perfect and informed the landlord
they wanted to start the application process to lease the condo. The landlord then
explained the condo had just been leased. The next Sunday in the classifieds, the
condo was again advertised for lease. A friend of the couple phoned the landlord,
pretending to be interested in the property. When asked if it had been leased, the
landlord replied "No". What is going on in this situation? - Answer-It seems the
landlord did not like the idea of leasing his condo to a same sex couple. This is not
permissible. A landlord must live by federal and state fair housing laws.
Katie and Rich own a rental home they have put up FSBO. They've noticed the
same woman has accompanied several potential buyers viewing the home. Katie
and Rich discover she is a broker that has been "showing" the home on the sly
without their permission. Instead of fighting this aggressive salesperson, the
couple just go along. In which manner was agency created? - Answer-Ostensible
Agency
Ted and Lisa are selling their home and have signed a listing agreement. Client or
customer? Steven visits Ted and Lisa's open house, and he is interested in
purchasing their home. What happens next? Is Steven a client or customer? -
Answer-Ted and Lisa are clients, and Steven is a customer. The listing agent must
disclose to Steven that he/she represents Ted and Lisa and explain customer
relationships.
, Timothy has been hired by the estate of Tyler Wilbanks, who is recently deceased.
Timothy has Power of Attorney and will be handling all the real estate affairs of
the deceased estate. Which type of agent is Timothy? - Answer-Universal Agent
In order to equalize business in their area, ABC Realty and RMH Realty have an
unwritten agreement. They have agreed to split up their area with ABC taking
everything north of the highway and RMH everything south. Under this
agreement, the real estate agents licensed to each respective brokerage will not
be competing and all will profit. Is this a violation? If it is a violation, what is it
called and what is it violating? - Answer-Division of markets is a violation of the
Sherman Antitrust Act.
What are the parts of a mortgage loan? What purpose does each part serve? -
Answer-A Pledge and Collateral. A Pledge is a promise to pay; and Collateral
allows a lender the right to foreclose if the borrower does not pay.
Karen and Jay need a larger home. They have two large dogs and a baby on the
way. One day in the real estate section, they see their dream home. The couple
view the home that very day, make an offer and it's accepted. There's only one
problem: They haven't even put their home on the market. Which type of loan
gives Karen and Jay their best option of paying two mortgages until their current
home sells? - Answer-A Bridge Loan
Brett lost his job last year. He has only been able to find temporary work and fell
behind on his mortgage. His home is currently in foreclosure. He is confused as to
what will happen and how the debts are paid. What is the order of payments in
foreclosure? - Answer-Cost of Sale; Special Assessment Taxes and General Taxes;
the First Mortgage which is determined by the order of recording; and whatever
is recoded next would be paid.
ACCURATE REAL EXAM QUESTIONS AND ANSWERS
WITH RATIONALES AND A STUDY GUIDE California
Household Movers’ Exam Practice Test Based on
CPUC Regulations – Standard Difficulty Includes
Answers
Lillian is buying Julia's home in Malibu. Julia, after selling her home to Lillian, is
buying Anne Marie's condo in San Francisco. In these transactions, who is the
grantor and who is the grantee? - Answer-Lillian is the grantee and Julia is the
grantor. Julia is the grantee and Anne Marie is the grantor.
In a general warranty deed, the implied promise: "If there is a defect, I promise to
take care of any problems" is referred to as: - Answer-A Covenant of Further
Assurance
Marcus wants to have the deed to his new home recorded to protect his
ownership rights. In order to record the deed, it must be notarized. Marcus must
go before a notary public and verify the signing of the deed. The notary then signs
the deed. The verification of Marcus' signature in the signing of the deed is known
as: - Answer-Acknowledgment
In early common law, transfers of land were only made when: - Answer-The
transfer of land from father to son, upon the father's death would take place.
,Jack is leasing a home from Justin for a year. He has decided to lease until he gets
a good feel for the area and knows where he wants to buy. In this relationship,
who has the reversionary right and who has the possessory right ? - Answer-Jack
has the possessory right and Justin the reversionary right.
Thad and Pierre made an appointment to view a condo for lease advertised in the
newspaper. Thad phoned the landlord and set up a viewing for two hours later in
the day. The couple thought the condo was perfect and informed the landlord
they wanted to start the application process to lease the condo. The landlord then
explained the condo had just been leased. The next Sunday in the classifieds, the
condo was again advertised for lease. A friend of the couple phoned the landlord,
pretending to be interested in the property. When asked if it had been leased, the
landlord replied "No". What is going on in this situation? - Answer-It seems the
landlord did not like the idea of leasing his condo to a same sex couple. This is not
permissible. A landlord must live by federal and state fair housing laws.
Katie and Rich own a rental home they have put up FSBO. They've noticed the
same woman has accompanied several potential buyers viewing the home. Katie
and Rich discover she is a broker that has been "showing" the home on the sly
without their permission. Instead of fighting this aggressive salesperson, the
couple just go along. In which manner was agency created? - Answer-Ostensible
Agency
Ted and Lisa are selling their home and have signed a listing agreement. Client or
customer? Steven visits Ted and Lisa's open house, and he is interested in
purchasing their home. What happens next? Is Steven a client or customer? -
Answer-Ted and Lisa are clients, and Steven is a customer. The listing agent must
disclose to Steven that he/she represents Ted and Lisa and explain customer
relationships.
, Timothy has been hired by the estate of Tyler Wilbanks, who is recently deceased.
Timothy has Power of Attorney and will be handling all the real estate affairs of
the deceased estate. Which type of agent is Timothy? - Answer-Universal Agent
In order to equalize business in their area, ABC Realty and RMH Realty have an
unwritten agreement. They have agreed to split up their area with ABC taking
everything north of the highway and RMH everything south. Under this
agreement, the real estate agents licensed to each respective brokerage will not
be competing and all will profit. Is this a violation? If it is a violation, what is it
called and what is it violating? - Answer-Division of markets is a violation of the
Sherman Antitrust Act.
What are the parts of a mortgage loan? What purpose does each part serve? -
Answer-A Pledge and Collateral. A Pledge is a promise to pay; and Collateral
allows a lender the right to foreclose if the borrower does not pay.
Karen and Jay need a larger home. They have two large dogs and a baby on the
way. One day in the real estate section, they see their dream home. The couple
view the home that very day, make an offer and it's accepted. There's only one
problem: They haven't even put their home on the market. Which type of loan
gives Karen and Jay their best option of paying two mortgages until their current
home sells? - Answer-A Bridge Loan
Brett lost his job last year. He has only been able to find temporary work and fell
behind on his mortgage. His home is currently in foreclosure. He is confused as to
what will happen and how the debts are paid. What is the order of payments in
foreclosure? - Answer-Cost of Sale; Special Assessment Taxes and General Taxes;
the First Mortgage which is determined by the order of recording; and whatever
is recoded next would be paid.
