Gradespins

Long Beach salesperson Eric Janey is providing sellers Julie and Zach Roberts with the necessary disclosures they must be given upon the sale of real property. Which of the following is NOT a disclosure that is given upon the sale of real property? - correct answers Mold Disclosure Required Lead-based Paint Disclosure Required Natural Hazards Disclosure Required Radon Detection Test Disclosure - NOT REQUIRED IN CA Escrow cannot be terminated in which of the following ways? - correct ans...

Which law prohibits discrimination in real estate transactions based on race, with no exceptions? Civil Rights Act of 1866 Civil Rights Act of 1964 Civil Rights Act of 1968 Fair Housing Act - correct answers Civil Rights Act of 1866 The Civil Rights Act of 1866 prevents discrimination based on race or color in any real estate transaction, without exception. The 1964 Act is limited to programs where the federal government offers financial assistance, while the Fair Housing Act (a part of...

Anything that is fastened or attached to real property permanently is considered to be: - correct answers Real Property A quitclaim deed releases all present claims, rights and title of the: - correct answers Grantor When a creditor wants to satisfy a judgement which was levied against another person, the creditor would: - correct answers Obtain a writ of execution Before a mechanics lien is effective it must be: - correct answers Verified and recorded Discrimination by a real estate...

Nonhomogeneity - correct answers uniqueness The bundle of legal rights includes all of the following rights EXCEPT - correct answers use the property for any purpose, legal or otherwise. Who, if anyone, is permitted to obtain aviation easements over land surrounding airports? - correct answers Local government authorities A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer gave up which of the following? - correct answers Subsurface ri...

What term describes the interest rates for a whole year? - correct answers annual percentage rate (APR) If a grantee takes title to a property "subject to" a mortgage, who is responsible for making the mortgage payments? - correct answers the seller In relation to fair housing laws, reasonable accommodations are - correct answers exceptions, changes, or adjustments to the rules for a person with a disability directing home buyers toward or away from houses in a certain neighborhoo...

1 of 10 - John completes the Salesperson Examination Application and submits it to the California Bureau of Real Estate. Driving home from work, he realizes he used his old address and not his new one on the application. What should he do? A. Contact the CalBRE and tell the story of how he used the incorrect address and request his application sent back in order to make the change. B. He does not have any options. Once a completed Salesperson Examination Application is submitted to the CalBR...

Mary is getting a $120,000 loan at 6.5 percent and will pay 3 discount points. What will the effective interest rate be? 0.0665 0.0675 0.06875 0.0695 - correct answers 0.06875 3/8+6.5 =.06875 Which of the following is not a HUD responsibility? FHA Ginnie Mae FDIC CDBG - correct answers FDIC What is a leasehold mortgage called that is based mostly upon a well-known tenant's financial strength? Purchase money loan Credit loan Term loan Secondary loan - correct answers Credit ...

Which of the following is a primary market lender? Federal Housing Administration Mortgage banking company Mortgage broker Veterans Administration - correct answers Mortgage banking company A mortgage banker is a primary market lender, meaning that it originates loans directly to property buyers. Under the traditional distinction between a mortgage banker and a mortgage broker, a mortgage broker negotiates loans, bringing borrowers and lenders together for a fee, but (unlike a mortgage ...

After passing state exam, you have ___ days to apply for a Temporary License, either on an Active or Inactive basis. - correct answers 90 Temporary Licenses are only valid for ___ year(s), and cannot be renewed. - correct answers 1 For an Original License, you must pass a ___ hour post-license course. - correct answers 30 If Temporary License is ACTIVE, the post-license course must be completed within ___ months. - correct answers 6. If the post-license course is not completed within...

(1) 1. The Real Estate Law is found in the a. Licensing Code b. Business and Professions Code c. Health and Safety Code d. Corporations Code - correct answers Business and Professions Code (1) 2. The Real Estate Commissioner reports to the a. California Bureau of Real Estate b. governor c. Real Estate Advisory Commission d. legislature - correct answers governor (1) 3. Salesperson Sam owns 25% of the outstanding shares of Rollo Realty, Inc., and broker Barbara Rollo owns the ...