REAL ESTATE SALESPERSON CALIFORNIA STATE
EXAM
Which of the following is most vital or important in planning a subdivision: - Answers -
Market Analysis
When rent is computed on the gross sales of a business occupying real property, the
lease is correctly termed: - Answers -Percentage Lease
What is not an adequate method of transferring property? - Answers -Executive Sale
What is considered personal property? - Answers -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: - Answers -$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: - Answers -Regression
Which of the following actions or events would result in the termination of a sales
escrow: - Answers -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: - Answers -Gross National Product
An easement on real property can be terminated by: - Answers -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: - Answers -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: - Answers -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: - Answers
-An abstract of title
The remedy of unlawful detainer action is used by offended: - Answers -Lessors
Freehold estates would include which of the following: - Answers -A life estate
If a lender accepts a deed in lieu of foreclosure from a trustor, the lender: - Answers -
Will assume any junior liens
Which of the following would usually be true concerning a hard money second trust
deed: - Answers -It's secured by real estate and given to a third party to obtain a cash
loan
How many years is an attachment lien good for: - Answers -3 years
A real estate salesperson's license has been suspended because many was paid out of
the Recovery Account to a person who had a judgement against the salesperson. His
license will not be reinstated until he: - Answers -Pays the Recovery Account for the
money it paid plus interest
Which of the following defines the term "equity": - Answers -Any of the below:
-The owner's interest in real property, over and above all liens against it
-The difference between the loan amount and the value or price of the property
-The initial down payment on the property
The initials HVAC in a commercial lease refer to: - Answers -Heating, Ventilation, & Air
Conditioning System
Under a conditional / installment sales contract for the sale of real property, legal title is
held by the: - Answers -Vendor
Which of the following closing costs would be classified as a recurring cost: - Answers -
Impound Account Items
If a broker misrepresented his principal's property to a buyer, the broker could cause his
principal to be subject to: - Answers -Any of the below:
-A rescission of the sale by the buyer
-A court action for damages by the buyer
-A civil suit compensating the buyer for misrepresentation of the broker
EXAM
Which of the following is most vital or important in planning a subdivision: - Answers -
Market Analysis
When rent is computed on the gross sales of a business occupying real property, the
lease is correctly termed: - Answers -Percentage Lease
What is not an adequate method of transferring property? - Answers -Executive Sale
What is considered personal property? - Answers -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: - Answers -$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: - Answers -Regression
Which of the following actions or events would result in the termination of a sales
escrow: - Answers -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: - Answers -Gross National Product
An easement on real property can be terminated by: - Answers -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: - Answers -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: - Answers -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: - Answers
-An abstract of title
The remedy of unlawful detainer action is used by offended: - Answers -Lessors
Freehold estates would include which of the following: - Answers -A life estate
If a lender accepts a deed in lieu of foreclosure from a trustor, the lender: - Answers -
Will assume any junior liens
Which of the following would usually be true concerning a hard money second trust
deed: - Answers -It's secured by real estate and given to a third party to obtain a cash
loan
How many years is an attachment lien good for: - Answers -3 years
A real estate salesperson's license has been suspended because many was paid out of
the Recovery Account to a person who had a judgement against the salesperson. His
license will not be reinstated until he: - Answers -Pays the Recovery Account for the
money it paid plus interest
Which of the following defines the term "equity": - Answers -Any of the below:
-The owner's interest in real property, over and above all liens against it
-The difference between the loan amount and the value or price of the property
-The initial down payment on the property
The initials HVAC in a commercial lease refer to: - Answers -Heating, Ventilation, & Air
Conditioning System
Under a conditional / installment sales contract for the sale of real property, legal title is
held by the: - Answers -Vendor
Which of the following closing costs would be classified as a recurring cost: - Answers -
Impound Account Items
If a broker misrepresented his principal's property to a buyer, the broker could cause his
principal to be subject to: - Answers -Any of the below:
-A rescission of the sale by the buyer
-A court action for damages by the buyer
-A civil suit compensating the buyer for misrepresentation of the broker
