California Real Estate License Exam 1 Latest Update 2024

1.1. A title was recorded for a parcel of real property vested in the name of Johan Wilson, a single woman. After her marriage to William Roberts, she executed a deed to the property only in the name of Johan Roberts, a married woman. The discrepancy in the grantors name is: A. Valid if William Roberts agrees to it B. A defect on title that may cause title to be vested as tenants in common C. Immaterial if the property is properly described D. A defect which may cause a cloud on the title - ANSWERA defect which may cause a cloud on the title. 1.2. Which contract would be the most difficult for a buyer to obtain financing? A. Land Contract B. FHA C. VA D. Conventional - ANSWERLand Contract 1.3. When a broker runs an advertisement, the broker must disclose: A. Last name of the broker B. Name of the broker C. Name of broker and salesperson D. Name of the salesperson - ANSWERName of the broker 1.4. Following in-house sales are true, except: A. The listing agent can act as a dual agent B. The listing broker can act as a buyers agent only C. The broker may purchase the property himself D. The seller may represent the seller only - ANSWERThe seller may represent the seller only 1.5. The Federal Housing Administration (FHA) was created primarily: A. To provide insurance for home loans in the secondary market B. To insure the borrower C. To provide insurance for home loans ma