Common Questions on the California Real Estate Exam 2023

who is responsible for disclosing a Mello-roos tax to the buyer? Seller Whenever there is a real estate sales transaction, it must be reported to the Internal Revenue Service by the: Escrow which of the following would create a dual agency situation: two agents working under a broker representing the buyer and seller in the same transaction under California law, the real estate commissioner has authority to do which of the following: impose fines, revokes licenses and promulgate rules and regulations In assessing the profitability of a real estate office, the broker must consider "desk cost." Which answer best describes how to calculate "desk cost:" divide the total operating expenses of the office, including salaries, rent, insurance etc, by the number of salespersons A subordination clause in a trust deed: gives priority to a more recent lien recorded against a property. the prospective purchaser may withdraw the offer at any time before the sellers acceptance of an offer: for any reason When a real estate agent acts exclusively as a buyer's agent, he can: present offer to the seller or the a sellers agent which of the following "runs with the lan"? all the other options are correct; what are the right of a borrower who falls two months in making his or her trust deep payments? he or she has the right of reinstatement When a title company issues a California standard policy of title insurance, the policyholder is insured against loss which occurs because of: forgery in the chain of recorded title which of the following is NOT required for a contract to be legally binding? proper writing