California Real Estate Practice Exam #2 questions and answers latest top score.

California Real Estate Practice Exam #2 questions and answers latest top score. 1.An escrow closed on May 16, 2002. Property taxes for the fiscal year 2002-03 are: (A) Seller's personal responsibility; (B) Buyer's personal responsibility; (C) A lien on the property; (D) None of the above - correct answers.c 2.On June 10, a prospective buyer gave broker and signed the usual form of an offer to deposit to a purchase property. The deposit form included the statement, This offer is irrevocable for five days. On June 11, and before the offer had been accepted by the seller, the buyer contacted the broker and withdrew his offer and demanded the return of his deposit. The broker: (A) Has until June 16 to obtain the seller's the acceptance; (B) Has until June 15 to obtain the seller's acceptance; (C) Must retur deposit to the buyer as demanded; (D) Must place the deposit in a neutral escrow until the five day period expires - correct answers.c 3. The lessee of an apartment and the owner of a condominium have many things in common. Which of the following is true for both? They each hold: (A) A fee interest; (B) An estate in real property; (C) A less than freehold estate; (D) An estate of inheritance - correct answers.b 4. In a contingency sale, if the contingency cannot by met by the buyers, the deposit: (A) s refunded to the buyers; (B) The buyers get 12 the deposit back, the sellers keep 12; (C) The sellers are entitled to the full deposit; (D) The broker keeps the deposit as damages. - correct answers.a 5.Who is responsible for the disclosure of Mello Roos bonds against the property: (A) Seller, (B) Seller's agent (C) Buyer's agent; (D) Both buyer and seller's agent - correct answers.a 6. Ron owns a single family home which rents for $$00 per month. A home across the street rents of 5690 month and Ron applies the same gross rent multiplier to his home as per recently sold for $78,000. If was used on the home across, what would be the value of Ron's home: (A) $50,000; (B) $67,800; (C) $69,565; (D) $70,909 - correct answers.b 7.When a real estate licensee handles the sale of a personal property mobile home, the agent must give written notice to the Department of Housing and Community Development within how many days? (A) 3 calendar days; (B) 5 business days; (C) 10 calendar days; (D) 10 business days - correct answers.c 8. The presence of a corporate seal on a deed: (A) Means that consideration was paid; (B) Implies that the proper or authorized person signed the deed; (C) Would indicate that title is being conveyed to a corporation; (D) Is needed for recording this instrument - correct answers.b 9. of the purchase agreement is: (A) The date the buyer gave the deposit, (B) The date the The date buyer signed the offer; (C) The date the seller accepted the buyer's offer, (D) The date the buyer receives proper communication of the seller's acceptance - correct answers.d 10. A prospective purchaser is interested in buying a lot in the mountains from a subdivider who is not a real estate licensee. The buyer wishes to know about sewer assessments, liens, and utilities to his lot, blanket encumbrances, and maintenance of streets. The source that would provide all of this information is the: (A) County engineer, (B) Real estate Commissioner; (C) County planning director; (D) Subdivider - correct answers.b 11. If a licensed real estate broker wishes to operate an office under a fictitious business name, the broker must: (A) File the name with the county recorder in the county of the place of business; (B) Publish the name in the newspaper as required by law, (C) Have a license issued by the Department of Real Estate after the name has been approved by the Commissioner; (D) Do all of the above - correct answers.d 12. A broker took an exclusive listing to negotiate a loan of $2,000 for a borrower. The listing may not run for longer than: (A) 15 days; (B) 30 days; (C) 45 days; (D) 60 days - correct answers.c 13. An owner of a single family dwelling has leased the house for two years. One day she drives by the rental and notices a painter is painting the house. The owner did not hire the painter. In order to protect herself from a mechanic's lien, the owner should file and post a: (A) Notice of Completion; (B) Notice of Cessation; (C) Notice to Quit; (D) Notice of Non-responsibility - correct answers.d 14. A buyer gave the broker a deposit in connection with a purchase offer. The buyer changed his mind before the offer was the agent do with the deposit: (A) Give it all back to the accepted. What should Give buyer; (B) Keep part of it and give the rest back to the buyer; (C) Place it in a trust account; (D) it to the seller as liquidated damages - correct answers.a 15. When an agent is accused of "puffing," the agent might be guilty of which of the following: (A) Trying to convince a potential seller of his wide popularity among local people; (B) Convincing the appraiser to assign higher value the property than is justified by the comparable recent sales in the area; (C) to the features of the property or neighborhood when showing property to prospective Exaggerating buyers; (D) Convincing a seller to offer a higher commission than is customary for that type of property - correct answers.c 16. The Franchise Tax Board does not require a buyer to withhold a portion of the sales price from the seller when: (A) The property is residential; (B) The seller refuses to pay the