CA DRE Real Estate Salesperson Exam Correct Questions & Answers

A property owner has an easement appurtenant on her property. One day the property is sold to another party who is opposed to the easement. Following the closing, this particular form of easement does what? - ANSWERtransfers with the owner to a new property. A property owner is precluded by deed restriction from developing a thirty foot boat dock. The limitation prompts the owner to sell to another party. The new owner takes? - ANSWERtakes title subject to the same restriction. Which of the following is an important function of the secondary mortgage market? - ANSWERParticipants sell mortgage-backed securities in order to buy pools of loans. The model property sales contract prepared by the California Association of Realtors is? - ANSWERAvailable for use by brokers but not required. A farmer temporarily installs produce coolers in a leased farm stand in order to prevent spoilage. The coolers would be considered what? - ANSWERTrade fixtures that are personal property. It is an escrow violation for a broker handling escrow funds to? - ANSWERRecord a deed without written consent of the party whose real property interest is being conveyed. In the income capitalization approach, an appraiser? - ANSWEREstimates net income and applies a capitalization rate to it. To protect against possible conflicts of interest, the Commissioner of Real Estate must? - ANSWERNot have an interest in any real estate firm. For the proper handling of client and owner monies, a property manager is generally required to? - ANSWERMaintain a special trust account in a qualified financial depository.