CA REAL ESTATE EXAM- PRACTICE
QUESTIONS AND ANSWERS
The labor code 37000 is ✅✅ANSW-Workers Comp
Corn Crops are ✅✅ANSW-Emblements
The fiduciary duty to the seller is the same as ✅✅ANSW-Beneficiary to trustee
Take out stands for ✅✅ANSW-Long term construction loan
RESP applies to which of the following properties? ✅✅ANSW-Single family homes 1-4 units
Escrow settlement statement: ✅✅ANSW-could be different
SAM LOAN: ✅✅ANSW-Shareed Appreciation Mortagage- any increase in the value of the home
will be split with ur mortgage lender. SAM loans are recommended in a strong financial market
CHILD SUPPORT ✅✅ANSW-Has to be paid before a license is issued
The benefits of Tax Shelter ✅✅ANSW-Income tax purposes
Brokers Trust Account ✅✅ANSW-It is not necessary for a broker to have one
REAL PROPERTY ✅✅ANSW-Vegetation
FNMA (Fannie Mae) ✅✅ANSW-Provides a secondary market for FHA and VA
, Company dollar ✅✅ANSW-is the amount of commission reamining to the broker after paying the
salesperson and other possible commissions.
A property held in "Severalty" is owned by: ✅✅ANSW-Sole Ownership
What is the best way to depreciate a 20 year old commercial building ✅✅ANSW-Straight line
depreciation
The land that is subject to an easemnt is ✅✅ANSW-Encumbered
Subdivision reports must be filed with the ✅✅ANSW-city or county where the land is located
The agent most likely to earn a sales commission ✅✅ANSW-Is the one who communicates
acceptance of the offer from the seller to the buyer
If a buyer withdraws ✅✅ANSW-the seller may sue for a specific performance
PARTY WALL ✅✅ANSW-Is a wall that divides two apartment buildings
What does Lis Pendens stand for ✅✅ANSW-Judgment pending
The construction member found above the doors and windows is called ✅✅ANSW-Header
Turnkey Project ✅✅ANSW-Is a construction project completed (ready for occupancy)
Grandfather clause ✅✅ANSW-is a continuation of a non-conforming use
Interim use ✅✅ANSW-is the current use of a building to its highest and best use
R ✅✅ANSW-Resistance to heat flow
QUESTIONS AND ANSWERS
The labor code 37000 is ✅✅ANSW-Workers Comp
Corn Crops are ✅✅ANSW-Emblements
The fiduciary duty to the seller is the same as ✅✅ANSW-Beneficiary to trustee
Take out stands for ✅✅ANSW-Long term construction loan
RESP applies to which of the following properties? ✅✅ANSW-Single family homes 1-4 units
Escrow settlement statement: ✅✅ANSW-could be different
SAM LOAN: ✅✅ANSW-Shareed Appreciation Mortagage- any increase in the value of the home
will be split with ur mortgage lender. SAM loans are recommended in a strong financial market
CHILD SUPPORT ✅✅ANSW-Has to be paid before a license is issued
The benefits of Tax Shelter ✅✅ANSW-Income tax purposes
Brokers Trust Account ✅✅ANSW-It is not necessary for a broker to have one
REAL PROPERTY ✅✅ANSW-Vegetation
FNMA (Fannie Mae) ✅✅ANSW-Provides a secondary market for FHA and VA
, Company dollar ✅✅ANSW-is the amount of commission reamining to the broker after paying the
salesperson and other possible commissions.
A property held in "Severalty" is owned by: ✅✅ANSW-Sole Ownership
What is the best way to depreciate a 20 year old commercial building ✅✅ANSW-Straight line
depreciation
The land that is subject to an easemnt is ✅✅ANSW-Encumbered
Subdivision reports must be filed with the ✅✅ANSW-city or county where the land is located
The agent most likely to earn a sales commission ✅✅ANSW-Is the one who communicates
acceptance of the offer from the seller to the buyer
If a buyer withdraws ✅✅ANSW-the seller may sue for a specific performance
PARTY WALL ✅✅ANSW-Is a wall that divides two apartment buildings
What does Lis Pendens stand for ✅✅ANSW-Judgment pending
The construction member found above the doors and windows is called ✅✅ANSW-Header
Turnkey Project ✅✅ANSW-Is a construction project completed (ready for occupancy)
Grandfather clause ✅✅ANSW-is a continuation of a non-conforming use
Interim use ✅✅ANSW-is the current use of a building to its highest and best use
R ✅✅ANSW-Resistance to heat flow
