Real Estate California Exam - Practice Questions
with Accurate Answers.
Which entity has the responsibility for determining property values for real property tax
purposes?
A. Board of Supervisors
B. Board of Equalization
C. Assessor's office
D. Tax commissioner - Correct Answer-C. Assessor's office
Explanation: The primary function of the county assessor is to establish an assessment
roll each year that reflects the assessed value of real property within the county.
Next Question
An agent may collect a commission for a negotiated sale after the term of the listing
contract expired if
A. There is an alienation clause.
B. The agent sues the principal for liquidated damages.
C. The contract contains a protection period clause
D. The agent signs a release clause. - Correct Answer-C. The contract contains a
protection period clause
Explanation: A protection clause, also called a safety clause, in a listing agreement binds
the seller to the payment of a commission to the broker if the property is sold within a
period of so many days after the expiration of the listing to a person with whom the broker
negotiated during the listing period.
Next Question
A lease based on gross income of the lessee is a
A. Percentage lease
B. Gross lease
C. Net lease
, D. Ground lease - Correct Answer-A. Percentage lease
Explanation: A percentage lease is a lease on property, the rental for which is determined
by the amount of business done by the lessee; usually a percentage of gross income
together with a provision for a minimum rental.
What best describes an attorney-in-fact?
A. A lawyer appointed by the court
B. A lawyer acting as an attorney for a client
C. A legally competent person is appointed to represent another person through a power
of attorney
D. A person with a dual agency - Correct Answer-C. a legally competent person is
appointed to represent another person through a power of attorney
Explanation: A power of attorney is a written instrument giving authority to an agent, called
an attorney-in-fact. Don't confuse with attorney-at-law.
There are several reasons why a contract can be voidable. However, a voidable contract
is binding on the parties until it is
A. Rescinded.
B. Discovered.
C. Invalidated.
D. Qualified. - Correct Answer-A. Rescinded
Explanation: Voidable means the contract is binding until some action is taken to rescind
the contract.
All of these people can sue for specific performance EXCEPT
A. The purchaser of a residential property.
B. A broker acting as the agent for the principal.
C. The seller of a large tract of land.
D. An attorney-in-fact acting for the principal. - Correct Answer-B. A broker acting as the
agent for the principal.
with Accurate Answers.
Which entity has the responsibility for determining property values for real property tax
purposes?
A. Board of Supervisors
B. Board of Equalization
C. Assessor's office
D. Tax commissioner - Correct Answer-C. Assessor's office
Explanation: The primary function of the county assessor is to establish an assessment
roll each year that reflects the assessed value of real property within the county.
Next Question
An agent may collect a commission for a negotiated sale after the term of the listing
contract expired if
A. There is an alienation clause.
B. The agent sues the principal for liquidated damages.
C. The contract contains a protection period clause
D. The agent signs a release clause. - Correct Answer-C. The contract contains a
protection period clause
Explanation: A protection clause, also called a safety clause, in a listing agreement binds
the seller to the payment of a commission to the broker if the property is sold within a
period of so many days after the expiration of the listing to a person with whom the broker
negotiated during the listing period.
Next Question
A lease based on gross income of the lessee is a
A. Percentage lease
B. Gross lease
C. Net lease
, D. Ground lease - Correct Answer-A. Percentage lease
Explanation: A percentage lease is a lease on property, the rental for which is determined
by the amount of business done by the lessee; usually a percentage of gross income
together with a provision for a minimum rental.
What best describes an attorney-in-fact?
A. A lawyer appointed by the court
B. A lawyer acting as an attorney for a client
C. A legally competent person is appointed to represent another person through a power
of attorney
D. A person with a dual agency - Correct Answer-C. a legally competent person is
appointed to represent another person through a power of attorney
Explanation: A power of attorney is a written instrument giving authority to an agent, called
an attorney-in-fact. Don't confuse with attorney-at-law.
There are several reasons why a contract can be voidable. However, a voidable contract
is binding on the parties until it is
A. Rescinded.
B. Discovered.
C. Invalidated.
D. Qualified. - Correct Answer-A. Rescinded
Explanation: Voidable means the contract is binding until some action is taken to rescind
the contract.
All of these people can sue for specific performance EXCEPT
A. The purchaser of a residential property.
B. A broker acting as the agent for the principal.
C. The seller of a large tract of land.
D. An attorney-in-fact acting for the principal. - Correct Answer-B. A broker acting as the
agent for the principal.
