California Principles Midterm Exam Questions 100% Solved!!

1 . Which of the following sources would be the least satisfactory for obtaining a legal description of a parcel of real property? A. Deeds B. Preliminary title reports C. Escrow instructions D. Real property tax bills - ANSWER1 . D Explanation: A real property tax bill usually identifies the property by the tax assessor's parcel number. While the bill may also include a legal description of the property, that's often an abbreviated description instead of the complete legal description. 2. The land description method that makes reference to sections, townships, and ranges is the: A. government survey method B. recorded map method C. metes and bounds method D. Torrens system - ANSWER2. A Explanation: The government survey method of land description identifies property by specifying its location in a particular section, township, and range. 3. A ranch is 36 miles square. What is the number of townships contained in the ranch? A. 1 B. 6 C. 36 D. 1,296 - ANSWER3. C Explanation: A township is six miles on each side. Therefore, the ranch (which is 36 miles long on each side) is 6 townships wide and 6 townships high. Multiply 6 times 6 to find that the ranch contains 36 townships. Note: Miles square and square miles mean different things. 36 miles square means a square that is 36 by 36 miles. A square property that was only 36 square miles would be 6 miles square. 4. Which of the following is not considered to be appurtenant to land? A. Watercourses B. Fences C. Dwellings D. Trade fixtures - ANSWER4. D Explanation: Trade fixtures (items installed by a tenant for use in a trade or business) are not appurtenant to land. The tenant is presumed to have installed them with the intention of removing them at the end of the lease, so they remain the tenant's personal property. 5. When a title company issues an ALTA policy, it will extend the risk beyond that which is covered by a standard policy, to include all of the following, except: A. the rights of parties in possession B. unrecorded easements C. the effect of zoning regulations D. unrecorded mechanic's liens - ANSWER5. C Explanation: Title insurance policies -- whether standard coverage, extended (ALTA) coverage, or some other type -- do not insure against losses caused by governmental actions, such as zoning changes. 6. The right to use and enjoy another person's property that falls short of an estate is a/an: A. easement B. leasehold C. deed D. devise - ANSWER6. A Explanation: A nonpossessory right to use another person's property is an easement. (An estate, such as a leasehold, is a possessory interest.) 7. A seller accepted a proper offer in writing to purchase his property. He then refused to complete the transaction. If the buyer were to bring suit for failure to perform the contract, under the statute of limitations he California Principles Midterm Exam Questions 100% Solved!!