Real Estate Salesperson California State Exam
with questions and correct answers //latest
update 2024/2025
Which of the following is most vital or important in planning a
subdivision: - CORRECT ANSWER : Market Analysis
When rent is computed on the gross sales of a business occupying real
property, the lease is correctly termed: - CORRECT ANSWER :
Percentage Lease
What is not an adequate method of transferring property? - CORRECT
ANSWER : Executive Sale
What is considered personal property? - CORRECT ANSWER :
Existing Mortgage
If an income property is valued at $100,000 based on an 8%
capitalization rate, what would be the value of the property if a 10%
return is required: - CORRECT ANSWER : $80,000
$100,000 Value of Property
x 0.08 Capitalization Rate
=$8,000 Net Income
$8,000 Net Income
÷ 0.10 of Return
=$80,000 Value of Property
The value of the best property in the neighborhood will be adversely
affected by the presence of comparatively substandard property is a
statement relating to value and is know as the Principle of: -
CORRECT ANSWER : Regression
,Which of the following actions or events would result in the termination
of a sales escrow: - CORRECT ANSWER : Mutual consent of the
parties
The measure of goods and services produced by the nation during any
one calendar year is the definition of which of the following: -
CORRECT ANSWER : Gross National Product
An easement on real property can be terminated by: - CORRECT
ANSWER : A release signed by the holder of the dominant tenement
An appraiser's narrative appraisal report of a single-family residence
probably would contain no reference to: - CORRECT ANSWER : The
type of financing available
When identical or highly similar properties are offered for sale, the
property offered at the lower price attracts the greatest demand. That
statement is an illustration of which of the following principles of
appraising: - CORRECT ANSWER : Substitution
When the public records have been examined in order to determine the
chain of title to a parcel of real property, a written summary of that chain
of title is known as: - CORRECT ANSWER : An abstract of title
The remedy of unlawful detainer action is used by offended: -
CORRECT ANSWER : Lessors
Freehold estates would include which of the following: - CORRECT
ANSWER : A life estate
If a lender accepts a deed in lieu of foreclosure from a trustor, the lender:
- CORRECT ANSWER : Will assume any junior liens
, Which of the following would usually be true concerning a hard money
second trust deed: - CORRECT ANSWER : It's secured by real estate
and given to a third party to obtain a cash loan
Betty is beneficiary of a $15,000 deed of trust on a single-family home
located in Long Beach, CA. Trustor Milo made $2,000 in payments,
then defaulted. At a trustee's sale, the property sold for $10,000,
resulting in a $3,000 deficiency. In California, a deficiency judgement
cannot be obtained: - CORRECT ANSWER : In any of the below
situations.
-If the security is a purchase-money trust deed.
-If remedy of trustee's sales is used.
-If fair market value of the property exceeds the amount due on the trust
deed.
What state agency would a consumer contact in order to obtain a written
report disclosing the presence of wood destroying organisms? -
CORRECT ANSWER : Structural Pest Control Board
When a lender on a graduated payment mortgage is making disclosures
that are required under the Truth-in-Lending Law concerning advertising
he must disclose the: - CORRECT ANSWER : Lender's Name
A clause in a mortgage stating that the rights of the mortgagee shall be
secondary to a subsequent mortgage is called: - CORRECT ANSWER
: None of the above
In California the use of an abstract of title has been superseded almost
entirely by the: - CORRECT ANSWER : Policy of title insurance
Sherman gives a quitclaim deed to Warner for a parcel of real property.
Warner does not record the deed. In this situations, which of the
following is true: - CORRECT ANSWER : The deed is valid as
with questions and correct answers //latest
update 2024/2025
Which of the following is most vital or important in planning a
subdivision: - CORRECT ANSWER : Market Analysis
When rent is computed on the gross sales of a business occupying real
property, the lease is correctly termed: - CORRECT ANSWER :
Percentage Lease
What is not an adequate method of transferring property? - CORRECT
ANSWER : Executive Sale
What is considered personal property? - CORRECT ANSWER :
Existing Mortgage
If an income property is valued at $100,000 based on an 8%
capitalization rate, what would be the value of the property if a 10%
return is required: - CORRECT ANSWER : $80,000
$100,000 Value of Property
x 0.08 Capitalization Rate
=$8,000 Net Income
$8,000 Net Income
÷ 0.10 of Return
=$80,000 Value of Property
The value of the best property in the neighborhood will be adversely
affected by the presence of comparatively substandard property is a
statement relating to value and is know as the Principle of: -
CORRECT ANSWER : Regression
,Which of the following actions or events would result in the termination
of a sales escrow: - CORRECT ANSWER : Mutual consent of the
parties
The measure of goods and services produced by the nation during any
one calendar year is the definition of which of the following: -
CORRECT ANSWER : Gross National Product
An easement on real property can be terminated by: - CORRECT
ANSWER : A release signed by the holder of the dominant tenement
An appraiser's narrative appraisal report of a single-family residence
probably would contain no reference to: - CORRECT ANSWER : The
type of financing available
When identical or highly similar properties are offered for sale, the
property offered at the lower price attracts the greatest demand. That
statement is an illustration of which of the following principles of
appraising: - CORRECT ANSWER : Substitution
When the public records have been examined in order to determine the
chain of title to a parcel of real property, a written summary of that chain
of title is known as: - CORRECT ANSWER : An abstract of title
The remedy of unlawful detainer action is used by offended: -
CORRECT ANSWER : Lessors
Freehold estates would include which of the following: - CORRECT
ANSWER : A life estate
If a lender accepts a deed in lieu of foreclosure from a trustor, the lender:
- CORRECT ANSWER : Will assume any junior liens
, Which of the following would usually be true concerning a hard money
second trust deed: - CORRECT ANSWER : It's secured by real estate
and given to a third party to obtain a cash loan
Betty is beneficiary of a $15,000 deed of trust on a single-family home
located in Long Beach, CA. Trustor Milo made $2,000 in payments,
then defaulted. At a trustee's sale, the property sold for $10,000,
resulting in a $3,000 deficiency. In California, a deficiency judgement
cannot be obtained: - CORRECT ANSWER : In any of the below
situations.
-If the security is a purchase-money trust deed.
-If remedy of trustee's sales is used.
-If fair market value of the property exceeds the amount due on the trust
deed.
What state agency would a consumer contact in order to obtain a written
report disclosing the presence of wood destroying organisms? -
CORRECT ANSWER : Structural Pest Control Board
When a lender on a graduated payment mortgage is making disclosures
that are required under the Truth-in-Lending Law concerning advertising
he must disclose the: - CORRECT ANSWER : Lender's Name
A clause in a mortgage stating that the rights of the mortgagee shall be
secondary to a subsequent mortgage is called: - CORRECT ANSWER
: None of the above
In California the use of an abstract of title has been superseded almost
entirely by the: - CORRECT ANSWER : Policy of title insurance
Sherman gives a quitclaim deed to Warner for a parcel of real property.
Warner does not record the deed. In this situations, which of the
following is true: - CORRECT ANSWER : The deed is valid as
