1.

An owner of a cooperative apartment project makes monthly payments which include

principal, interest, taxes, and insurance. Which of the following statements is NOT
correct?

A. Tax collector will render a separate tax bill to each owner.

B. Assessment bond costs will be divided among the owners.
C. Owner may deduct the amount of property taxes paid on his income tax return.
D. If other owners fail to make payments, all owners could lose their equities, for a foreclosure
action could be taken against the (single) blanket type loan, unless delinquencies were brought
current.

A. Tax collector will render a separate tax bill to each owner.

2. That contract would be the foremost tough for a customer to get financing?

A. Land Contract
B. FHA
C. VA
D. standard

A. Land Contract

3. Once a broker runs an advert, the broker should disclose:

A. surname of the broker

B. Name of the broker
C. Name of broker and employee
D. Name of the employee

B. Name of the broker

4. Following in-house sales square measure true, except:

A. The listing agent will act as a twin agent

B. The listing broker will act as a patrons agent solely
C. The broker could purchase the property himself
D. the vendor could represent the vendor solely

D. the vendor could represent the vendor solely

5. The Federal Housing Administration (FHA) was created primarily:

A. to produce insurance for home loans within the secondary market

B. To insure the receiver
C. to produce insurance for home loans created by approved loaner
D. to boost the economy for mortgage bankers
C. to produce insurance for home loans created by approved lenders

6. That of the subsequent loans on a home would most likely be created while

not requiring a deposit from the borrower?

A. VA Loan
B. CAL-VET
C. FHA
D. standard

A. VA Loan

7. What is NOT required to be disclosed under the Truth-in-Lending Law?

A. Annual percentage rate (APR)

B. Length of loan
C. Monthly payment
D. Total finance charge in purchase of single-family, owner-occupied dwelling

D. Total finance charge in purchase of single-family, owner-occupied dwelling

8. The item that will seem on the method of accounting of a buyer's closing statement

would be:

A. price
B. postpaid Rents
C. Mortgage Insurance
D. deposit

A. price

9. Accrued depreciation may be estimated by five general methods. Which of the

following would be considered as indirect methods?

A. Capitalized income and market methods

B. Breakdown and engineering methods
C. Capitalized and engineering methods
D. Market and breakdown methods

A. Capitalized income and market methods

10. That of the subsequent is that the reason that a true realtor should keep his

principal wise to of fabric facts regarding an unfinished realty transaction?

A. once the agent may be a fiduciary

B. once it's written on the acquisition agreement
C. once the agent involved with the commission that merchandiser is paying
D. once the broker works just for the vendor

A. once the agent may be a fiduciary

11. In the appraising of real estate, there are several "principles of value." Of the
following, which most clearly describes the "Principle of Change"?

A. Less desirable properties enhance the values of more desirable properties.

B. More desirable properties are adversely affected by less desirable properties in their midst.
C. Tomorrow evolves out of today which came out of yesterday.
D. None of the above.

C. Tomorrow evolves out of today which came out of yesterday.

12. a proposal to buy realty may be terminated all told of the subsequent ways in which,

except;

A. Acceptance with a counter provide to the benefactor

B. Failure to speak notice of revocation before the opposite party has communicated his
acceptance
C. Death of offeree or benefactor
D. Expiration of your time to simply accept a proposal

B. Failure to speak notice of revocation before the opposite party has communicated his

acceptance

13. within which of the subsequent contract can apply if one among the parties agrees to

not revoke a proposal for a precise amount of time:

A. right to sell listing

B. Exclusive agency listing
C. internet listing
D. An option

D. An Option

14. For Federal Tax functions, the capital expenditures for enhancements are:

A. A share depreciated
B. deducted from the value basis of the property
C. further to the value basis of the property and depreciated
D. can not be depreciated

C. further to the value basis of the property and depreciated

15. Leland uses associate degree V-E Day capitalization rate for a 40-unit house that
generates $174,000 net profit. That of the subsequent is that the most applicable price of
this property?

A. $1,400,000
B. $1,566,000
C. $2,175,000
D. $2,170,000

C. $2,175,000

16. Money sweetening, as compared to comfort and safety once buying a home, is

usually considered:

A. absolute.
B. primary.
C. secondary.
D. none of the on top of.

C. secondary.

17. A real disadvantage of owning realty would be the shortage of liquidity. Of the

subsequent, which might give the best quantity of liquidity to such associate
degree investment?

A. Amortization
B. Leaseback
C. Leverage
D. Syndication

D. Syndication

18. For a "blanket encumbrance," the standard unharness clause needs the someone to

pay a lot of to the loaner than every discharged property is value because:

A. higher tons square measure oversubscribed initial.
B. compensates for unsold tons.
C. loaner wishes to extend security on overall loan.
D. all of the on top of.

D. all of the on top of.

19. "Assignment of rents" in a loan or trust deed:

A. provides for new buyer to pay rent until title passes.

B. provides that the borrower pays.
C. protects trustor or mortgagor.
D. benefits mortgagee or beneficiary.
D. benefits mortgagee or beneficiary.

20. A buyer recently purchased a property for $150,000. If the cost to sell the property
would be 9% of sale price, how much must the property appreciate in value in order for
the owner to sell and get his $150,000 out of the sale?

A. $13,500
B. $14,835
C. 9%
D. 109%

B. $14,835

21. That of the subsequent statements can INCORRECTLY complete this phrase? A sub

divider World Health Organization isn't a retail merchant of the DRE:

A. might not sell or provide purchasable any tons during a subdivision before supply of the

Commissioner's Public Report.
B. could sell all tons during a subdivision himself.
C. could build any enhancements on the land before receiving the general public report.
D. could use authorized realty salespeople to sell tons during a subdivision.

D. could use authorized realty salespeople to sell tons during a subdivision.

22. A retail merchant would be acting suitably by giving a celebration the

subsequent information:

A. recommendation on the way to title property

B. the way to use the multiple counter proposal to barter with over one customer

C. whether or not a proposal is void as a result of the client failed to submit a timely long
commitment

D. employing a realty license forestall a celebration from needing the services of associate

degree lawyer

B. the way to use the multiple counter proposal to barter with over one customer

23. The most purpose of "RESPA" (Real Estate Settlement Procedures Act) is to:

A. give shoppers with enough info to change them to buy for settlement services

B. Place a set limit on settlement prices on residential property of 4 units or less

C. Standardize settlement services throughout the U.S.

D. Place a set limit on settlement prices all told realty transactions

A. give shoppers with enough info to change them to buy for settlement services

24. Definitions of market price is lease involved with:

A. Market value
B. Objective price
C. price in exchange
D. Open market

A. Market value

25. What form of associate degree appraisal license is needed to appraise an ad sales

outlet valued at $700,000?

A. Certified general license

B. Retail appraisal license
C. Certified residential license
D. Residential realty license

A. Certified general license

26. Property taxes square measure represented as "ad valorem" taxes. "Ad valorem"

most nearly means:

A. Replacement price
B. in step with price
C. market price
D. replica price

B. in step with price

27. So as to fits the rules of the state Housing Law, an individual ought

to obtain the supply of a license from:

A. The Golden State Department of realty

B. The government department of Building and Safety
C. the closest workplace of the Department of Housing and Community Development
D. The Golden State Department of rehabilitation

B. The government department of Building and Safety

28. one among the most edges of a sale-leaseback dealing would be:

A. you'll be able to get the deposit back with no objection

B. you have got the choice to lease the property back once the termination of the lease

C. the flexibility of the vendor to deduct all of his future rent payments as business expenditures

D. the flexibility to take care of the value of the new customer

C. the flexibility of the vendor to deduct all of his future rent payments as business
expenditures

29. When establishing value by "appraisal," it is necessary to recognize the difference

between the function of the appraisal and:

A. the appraisal process.

B. amenities to the owner.
C. principles of appraisal.
D. the purpose for which the appraisal is being made.

D. the purpose for which the appraisal is being made.

30. A possessor lists his property purchasable with a broker. Throughout the

negotiations, the owner told the broker that the owner needed $138,000 for the property,
and something on top of the quantity the broker may keep as his commission. The listing
with this kind of provision is thought as a:

A. Open listing
B. Gross listing
C. Non exclusive listing
D. internet listing

D. internet listing

31. What property does not need to have a tightness test conducted an
underground storage tanks?

A. An owner occupied property

B. Properties with a tank of less than 1100 gallons
C. Any residential property
D. Any property with a youth of more than two families

B. Properties with a tank of less than 1100 gallons

32. once a loaner loans a receiver 100% of the acquisition value of a house, and also

the loan isn't government-related, the loaner would be best protected by:

A. A worsening within the economy
B. Low monthly payments
C. an occasional charge per unit
D. Appreciation

D. Appreciation

33. The term "warehousing" as employed in realty funding, means:

A. The funding of commercial warehouses
B. A mortgage company aggregation loans before merchandising
C. an outsized bank or savings and loan
D. Unregulated realty loans

B. A mortgage company aggregation loans before merchandising

34. Once a loaner makes a loan regulated by the $64000 estate settlement procedures

act, the loan someone should be given that of the following?

A. associate degree application for personal mortgage insurance

B. A loan estimate
C. A bill of sale
D. Forms for applying the homeowner's exemption

B. A loan estimate

35. If you hold associate degree stake within the common areas and a separate

interest during a specific unit of an industrial, commercial, or residential
building, you'd own a:

A. Condominium
B. Land project
C. Community lodging project
D. Stock cooperative

A. Condominium

36. For federal taxation functions, capital expenditures for improvements:

A. square measure further to the "Cost Basis" of the property and depreciated

B. square measure subtracted fully as expenses that year
C. square measure deducted from the "cost basis" of the property
D. can not be depreciated over the remaining lifetime of enhancements

A. square measure further to the "Cost Basis" of the property and depreciated

37. That of the ways may be utilized by Appraisers for estimating the value of
Construction:

A. sq. Footage technique
B. Unit-in-Place technique
C. amount Survey technique
D. All of the opposite choices square measure correct

D. All of the opposite choices square measure correct

38. "Intestate succession" happens when:

A. there's no can
B. there's a can
C. Not all heirs square measure named during a formal can
D. The deceased leaves solely a holographic can

A. there's no can

39. An apartment building was purchased for $180,000. At the time of purchase, it had a

good market price of $200,000, And an assessed price of $140,000. The premise of the
property for federal taxation functions would be:

A. $140,000
B. $240,000
C. $180,000
D. $200,000

C. $180,000

40. That of the subsequent statements regarding the $64000 Estate Settlement

Procedures Act (RESPA) is false?

A. All persons getting a federally regulated new real estate loan to buy a single-family

residence should receive a duplicate of the house Loan Toolkit.

B. assets brokers might not split a commission with cooperating members of the multiple listing

service.

C. A loaner might not receive a referral fee for causing a vender to a particular title insurance

underwriter.

D. RESPA covers all sales of one-to-four family residences once the vendee is getting a

federally-related real estate loan to buy the property.
B. assets brokers might not split a commission with cooperating members of the
multiple listing service.

41. Material possession becomes "tax-defaulted" straight off when material

possession taxes become delinquent. The owner-occupant:

A. should vacate the property straight off

B. is freed from liability for taxes levied throughout this era
C. remains in undisturbed possession
D. should pay rent to the state

C. remains in undisturbed possession

42. per the Department of assets laws, it'd be thought-about commingling if a broker:

A. leaves funds owed to him as commissions in his in operation account for 3 weeks

B. deposits funds received from 2 totally different individual patrons into an equivalent savings

bank trust

C. deposits $200 of his own cash into the savings bank trust to hide bank fees on it account

D. deposits into the monetary fund account a renter's check for the protection deposit

on AN financial gain property the broker owns

D. deposits into the monetary fund account a renter's check for the protection deposit

on AN financial gain property the broker owns

43. 28. Which of the following would take the position of "senior" lien?

A. Assessment bond
B. First trust deed
C. Homestead
D. The one above which was first recorded

A. Assessment bond

44. The connection between a property and a prospective vendee is thought as:

A. highest and best use

B. utility
C. value
D. progression

C. value

45. A "quitclaim" deed implies that the:

A. grantor has not previously transferred the property to another.
B. grantor has not created an encumbrance against the property that has not been revealed.
C. grantor actually owns the property.
D. none of above.

D. none of above.

46. An investor in an eight-year-old apartment building will be allowed by the IRS to

calculate depreciation by which of the following methods?

A. Income method
B. Cost method
C. Straight-line method
D. None of the above

C. Straight-line method

47. In creating new assets loans, institutional lenders typically charge a fee for expenses

incurred for such things as document preparation and connected work. The fee
charged is commonly a proportion of the face quantity of the loan, and is remarked on
the borrower's closing statement:

A. defrayal fee
B. Loan discount fee
C. Loan fee
D. real estate loan broker's fee

C. Loan fee

48. Joe and Adrian have a customary sales contract, many words were crossed out or
inserted by Joe and Adrian. To eliminate future conflict on whether or not the changes
were created before or when the contract was signed, the same old procedure is to

A. redraw the whole contract
B. have Joe and Adrian initial or check in the margin close to every amendment
C. have every party write a letter to the opposite approving the changes
D. write a letter to every party listing the changes

B. have Joe and Adrian initial or check in the margin close to every amendment

49. once the $64000 estate market changes from a patrons market to a sellers

market, that of the subsequent results may naturally be expected:

A. Construction activity during a new subdivision would decline

B. costs would most likely drop thanks to the accrued provide and reduced demand
C. costs would rise thanks to the accrued demand and insulant provide
D. costs would be unaffected, since each parcel is exclusive

C. costs would rise thanks to the accrued demand and insulant provide

50. A broker is negotiating a 25-year business lease at a strait annual rental of $30,000.

The broker is to receive a compensation for negotiating this lease as follows: seven-
membered of the annual rental for the primary 5 years, five-hitter of the annual
rental following four years, three-d of the annual rental for every of following fifteen
years; and I Chronicles of the annual rental for each year thenceforth throughout the
term of the lease. By the tip of the nineteenth year, the broker can have received a
complete commission of most nearly:

A. $25,000
B. $20,800
C. $20,500
D. $20,700

D. $20,700

51. A salesperson was to receive a forty five share of a 6 June 1944 gross commission.

He received $8,100. The property oversubscribed for:

A. $300,000
B. $200,000
C. $280,000
D. $400,000

A. $300,000

52. 2 brokers comply with split a four 1/2 executive agency on a 50-50 basis on the sale

of a property for $162,500. The listing employee united to a 50-50 split together with
his using broker. What would be the commission quantity for the listing salesperson?

A. $3,626.20
B. $1,828.13
C. $5,400.00
D. $4,860.00

B. $1,828.13

53. Client Parker paid $4.40 per square measure to buy a twenty,000 square measure ton.

If the parcel is during a rectangular form two hundred feet deep, the
approximate value per front foot would be:

A. $220
B. $440
C. $880
D. $960
C. $880

54. Borrowing against a property with a loan interest rate less than the "equity yield" on
the property:

A. is unlawful.
B. decreases equity yield.
C. has no effect on equity yield.
D. enhances equity yield.

D. enhances equity yield.

55. Of the subsequent forms of deeds, that one would contain no warranties

and specific or implied:

A. A can deed
B. Grant Deed
C. warrantee Deed
D. conveyance

D. conveyance

56. Land that's subject to AN easement is claimed to be:

A. Prescriptive easement
B. adjunct to the land
C. Encumbered
D. AN encroachment

C. Encumbered

57. The supply of the Subdivision Map Act is implemented by the:

A. assets Commissioner
B. Subdivision Land Law
C. committee
D. Contractor License Board

C. committee

58. Cost estimating methods currently used by builders, architects, and appraisers are:

A. capitalization of residual income.

B. capitalized cost of replacement.
C. quantity survey, unit in place, Comparative Square, or cubic foot.
D. unit, unit in place, quantity survey.

C. quantity survey, unit in place, Comparative Square, or cubic foot.

59. If no notice of non-completion is recorded on AN improvement project,

anyone will record a mechanics lien within:

A. 10 days
B. 30 days
C. 60 days
D. 90 days

D. 90 days

60. An appraiser would have to be able to identify land values separately in which one of
the following appraisal techniques?

A. Market data approach

B. Income approach
C. Cost approach
D. All of the foregoing

C. Cost approach

61. So as to control a competitive, nonetheless profitable business, a true estate

broker has to fret with "desk cost". That of the subsequent most nearly represents the
right thanks to calculate the table cost?

A. Divide the whole in operation expenses of the firm, and commission

B. Divide the whole in operation expenses of the firm, as well as salaries, rent, insurance, etc.,
by the amount of employee

C. Calculate the whole monthly gross financial gain and divide by the amount of employee

D. Calculate the whole monthly gross financial gain and calculate losses

B. Divide the whole in operation expenses of the firm, as well as salaries, rent, insurance,

etc, by the amount of employee

A "land project" is best defined as:

A. 50 or more unimproved lots in a rural area.

B. ownership of an undivided interest in land coupled with the right of exclusive occupancy of
any apartment thereon.
C. ownership of an undivided interest in common in a portion of property, together with a
separate interest in space in a
residential, industrial, or commercial building.
D. ownership of an undivided interest in land.

A. 50 or more unimproved lots in a rural area.

63. Broker Hudson had a house listed purchasable for 9 months while

not merchandising it. He is aware of that the building desires major structural repairs,
and he has listed at 100 percent on top of its truthful market price. He runs an
advert during a newspaper that claims, "Three bedrooms and Victorian vogue. you will
not believe the price! Move right in. Hudson - XXX-XXXX."
This packaging is dangerous because:

A. It's deceptive and deceptive since Hudson is aware of that the property desires major repairs

B. it's outlawed to advertise a property that's overvalued
C. AN expensive property could be a deceptive value
D. The advertising is deceptive and also the broker are liable

A. It's deceptive and deceptive since Hudson is aware of the property desires major

repairs

64. AN apartment building offered single garages. Once a replacement unit

was engineered close, providing double garages, the tenants all enraptured into the
newer units. This can be AN example of:

A. physical deterioration.
B. economic devolution.
C. social devolution.
D. useful devolution.

D. useful devolution.

65. "Moral philosophy" best matches:

A. ethnics.
B. ethics.
C. dedication.
D. subordination.

B. ethics.

66. That of the subsequent wouldn't be eligible for filing a mechanic's lien?

A. Architect

B. Handyman, if over seventy five days has progress since recording of notice of completion

C. contractor, if a notice of completion has been recorded among the past twenty nine days

D. None of the on top of

B. Handyman, if over seventy five days has progress since recording of notice of

completion

67. That of the subsequent lenders wouldn't be approved (respectively) by VA or FHA?

A. Federal bank
B. Institutional loaner
C. insurance underwriter
D. non-public loaner

D. non-public loaner

68. Once material possession is hired to varied tenants, appraisers notice it useful to use

a gross number, that is based upon:

A. gross financial gain as a operate of capitalized price.

B. rental price versus the price of the property.
C. gross financial gain versus calculable gross financial gain.
D. gross financial gain as associated with future lucre.

B. rental price versus the price of the property.

69. An investor is considering buying a vacant property and building a building on it

which will cost $170,000. Rental income will be $2,700 per month, and annual expenses
will be $8,200. What is the maximum he can pay for the land if he uses an 11%
capitalization rate?

A. $60,000
B. $50,000
C. $40,000
D. $30,000

B. $50,000

70. A property was leased to a lessee for a two-year period, with monthly lease payments
to be $800. The lessor collected the first and last month payments. This agreement would
most likely not include which of the following statements?

A. Escalator clause
B. Compliance with local laws
C. Condemnation provisions
D. Third-party liability clause
A. Escalator clause

71. The marketing of that of the subsequent wouldn't need a notice to the Department

of assets (DRE)?

A. a pair of units during a planned development

B. five units during a condominium project
C. five heaps during a commonplace subdivision
D. five units during a stock cooperative

A. a pair of units during a planned development

72. A licensed assets broker, shopping for and merchandising several properties for

himself, might have his profits taxed as:

A. long capital gains.
B. short capital gains.
C. delayed capital gains.
D. standard financial gain.

D. standard financial gain.

73. Advertising laws of the Truth-in-Lending Law apply to all or any of the subsequent,

except:

A. home-owner World Health Organization is advertising his/her own residence for purchase

subject to the prevailing loan.
B. home-owner advertising that loan could also be assumed beneath bound terms.
C. finance establishment advertising to market personal credit line.
D. broker advertising a property with associate degree annual share rate.

A. home-owner World Health Organization is advertising his/her own residence for

purchase subject to the prevailing loan.

74. Once taking a list, what's the foremost vital question to ask?

A. can you facilitate finance the sale?

B. what's your asking price?
C. Why are you selling?
D. What are your existing loans?

C. Why are you selling?

75. Once victimization the price approach to see the worth of land and enhancements of

a property, associate degree appraiser would use:
A. one approach to reach a price for each.
B. one approach to reach a price for every.
C. separate approaches to reach a price for every.
D. none of the on top of.

C. separate approaches to reach a price for every.

76. If a $52,500 loan was created on a property that was cherish seventieth of the

appraised worth. What was the quantity of the appraised value?

A. $90,000
B. $80,000
C. $50,000
D. $75,000

D. $75,000

77. A true estate broker lends his own cash to emptor to help in getting a home. The note
is for $4,000, and can be secured by a legal instrument on the purchased property. The
note rate is twelve-tone music per annum, with monthly payments of $40. Final
payoff are on the forty eighth monthly payment. That of the subsequent is true?

A. Broker holds legal title to property.

B. Broker is in violation of usury.
C. Final quantity of payoff on the forty eighth month are $4,040. D. None of the on top of.

C. Final quantity of payoff on the forty eighth month are $4,040.

78. When purchasing a "business opportunity" and using personal property acquired to

secure a loan, which of the following is necessary to "perfect" the transaction?

A. The contract developed to facilitate the sale

B. Filing of the security agreement
C. Filing of the financing statement
C. Recording the original contract

C. Filing of the financing statement

79. relating to termination of estates in living accommodations parks, a tenant World

Health Organization contains a residence during a living accommodations that
can't be lawfully enraptured while not a allow, might not have
the residence terminated while not written notice of not less than:

A. 30 days.
B. 45 days.
C. 60 days.
D. 90 days.
C. 60 days.

80. A broker had signed an agreement to locate property for his principal. Having found a
property which suited his principal, which could be purchased for less than he was
willing to pay, the broker bought the property himself. Later the broker sold the property
to his principal at the higher price, keeping the difference for himself. This is considered:

A. commingling.
B. conversion.
C. divided agency.
D. secret profit.

D. secret profit.

81. That of the subsequent is nearest to a word of "metes and bounds"?

A. Angles and degrees

B. Measures and perimeters
C. Degree of perimeters
D. Angles and measures

D. Angles and measures

82. If the rent of business property hyperbolic well on top of the upkeep or mating prices,

the ensuing scenario would:

A. not have an effect on the percent.

B. increase the effective gross financial gain.
C. increase the demand for house.
D. increase the percent, and tenants would tend to conserve on house.

D. increase the percent, and tenants would tend to conserve on house.

83. National truthful Housing principles are based on:

A. First Amendment to the Constitution.

B. Unruh Act.
C. Thirteenth change to the Constitution.
D. Rumford Act.

C. Thirteenth change to the Constitution.

84. The county building inspector wouldn't approve a website prepared for construction

on a brand new residence till a "percolation" check had been approved. The latter deals
with:

A. the groundwater level.
B. runoff drain.
C. the storage tank.
D. none of the on top of.

C. the storage tank.

85. Associate degree capitalist purchased a property, finance with a seventy fifth loan-to-

value magnitude relation loan. Payments of interest just for the primary half-
dozen months was $6,000. Rate is 100%. What was the appraised worth of the property?

A. $170,000
B. $160,000
C. $150,000
D. $140,000

B. $160,000

86. When interest rates on real property loans increase, capitalization rates on income
properties tend to:

A. be affected inversely.
B. remain the same
C. increase
D. decrease.

C. increase

87. Once mercantilism a fairly priced, well established point a cultured, residential

area neighborhood, the broker would most likely gain the foremost interest in:

A. prestige.
B. advantage.
C. investment.
D. need.

A. prestige.

88. Associate degree agent might represent each parties during a dealing, providing he:

A. gets consent of each parties.

B. informs each parties.
C. discloses his commission agreement with each parties.
D. all of the on top of.

D. all of the on top of.

89. What's the monthly impound account payment for insurance for the following?

Insured worth = $100,000; Rate = $0.40 per $100; three year. premium = a pair of.5 times
annual rate.

A. $25.78
B. $26.78
C. $27.78
D. $28.78

C. $27.78

90. If associate degree out-of-state resident were to raise once the primary installment of

the county taxes becomes due, you must answer:

A. Gregorian calendar month ten.

B. November 1.
C. March 1.
D. July 1.

B. November 1.

91. A property owner is needed to stay almost that one among the

subsequent in smart order?

A. business rental property with bound normally used areas for convenience of all tenants

B. High-rise apartment house with intensive lobby and hallways
C. Theater's lobby and public toilet facilities
D. personal living accommodations chartered for occupancy by one family

C. Theater's lobby and public toilet facilities

92. The Gross multiplier factor is associate degree discretional variety utilized by

appraisers within the analysis of bound varieties of financial
gain property. It’s calculated during which of the subsequent ways?

A. The confirmed sale value of the property is split by the gross monthly rental.
B. The gross monthly rental is split by the appraised worth of the property.
C. The value of the property is increased by the capitalization rate.
D. The gross monthly rental is increased by the capitalization rate.

A. The confirmed sale value of the property is split by the gross monthly rental.

93. A property is in hand by 5 persons in "joint residence." that of the

subsequent actions would destroy the various residence relationship?

A. One tenant wills his interest to a different.

B. Judgment and official document of execution is rendered against a tenant.
C. Another of the joint tenants places a legal instrument against her interest.
D. investor completes a legal proceeding action against a joint tenant, supply a trustee's deed
to the very best bidder.

D. investor completes a legal proceeding action against a joint tenant, supply a trustee's

deed to the very best bidder.

94. That of the subsequent would be associate degree example of "economic

obsolescence"?

A. No lavatory on 1st level of structure residence
B. Eccentric style
C. High rate
D. Lack of traditional, correct care

C. High rate

95. Regarding authority loans, all of the subsequent statements are correct, except:

A. level payments needed.
B. monthly payments of taxes and insurance for impound account.
C. monthly budgeted payments appropriate to buyer's pocketbook.
D. provides most building standards.

D. provides most building standards.

96. during a scenario whereby a deposit with a proposal to get was within the sort

of a note rather than money or check that of the subsequent isn't true?

A. The contract is simply as binding at the time of acceptance by each parties as if there have
been a money deposit.

B. Agent is needed by law to form merchant aware that he has received a nonnegotiable

promissory note deposit, in place of money or check.

C. Failure of emptor to redeem note as needed by contract may be a violation of Golden

State land law.

D. None of the on top of.

C. Failure of emptor to redeem note as needed by contract may be a violation of Golden

State land law.

97. 44. Which one of the following is not classified as a subdivision?

A. Community apartment project with 20 or more apartments.

B. Condominium project with 10 or more units.
C. Stock cooperative containing 10 or more units.
D. Planned development containing four lots.
D. Planned development containing four lots.

98. Once lessees pay one month's rent before of the lease amount, accounting

procedures regard this as:

A. delayed expense for the lease giver.

B. delayed financial gain for the lease giver.
C. increased financial gain for the renter.
D. increased expense for the lease giver.

B. delayed financial gain for the lease giver.

99. A salesman brought in a proposal on associate degree workplace heap listing for

$18,500. The broker, once taking the listing, was up on by the vendor that they might take
$18,000. What should the broker do?

A. Do nothing and shut the deal at $18,000.

B. Inform the customer of the $18,000 acceptable value.
C. Say nothing to the vendor, and split the $500 equally with the mercantilism employee.
D. gift the $18,500 supply to the sellers for approval.

D. gift the $18,500 supply to the sellers for approval.

100. SBM & BL, MDM & BL, hectometer & BL are abbreviations that have which means to:

A. tiny Business Administration.
B. County Recorder.
C. Secretary of State.
D. Points of interest for surveyors.

D. Points of interest for surveyors.

101. Which of the following would not be constructive eviction of a tenant (lessee) by a

landlord?

A. During lease, landlord attempts to lease property to others.

B. Landlord ousts tenants or allows third party to oust tenants.
C. Landlord makes extensive, unwarranted alterations to the property.
D. Landlord fails to repair excessive wear and tear to property caused by tenant's neglect.

D. Landlord fails to repair excessive wear and tear to property caused by tenant's
neglect.

102. A veteran purchases a home beneath the Cal-Vet program. In such

transactions, World Health Organization holds title?
A. veteran, World Health Organization successively assigns it to the Golden State Department
of Veteran's Affairs
B. beneficiary
C. Golden State VA
D. getting veteran

C. Golden State VA

103. That of the subsequent isn't a lien?

A. Mortgage
B. Deficiency judgment
C. personal restrictions
D. Trust deed

C. personal restrictions

104. That of those terms BEST describes a dealing whereby possession of land is

transferred to a different party while not transferring ownership?

A. right
B. Sublease
C. Sale-leaseback
D. Assignment

105. It might be to the advantage of disposition establishments to

waive payment penalties once that of the subsequent is occurring?

A. The Fed drastically raises the discount rate and reserve demand.

B. Funds are briefly provide and also the demand for loans is high.
C. Funds are simply obtainable and also the demand for loans is low.
D. The Fed sets standards for banks to follow.

B. Funds are briefly provide and also the demand for loans is high.

106. On which of the following types of business collateral would one file with the
secretary of state (Sacramento) to perfect a security transaction?

A. Consumer goods
B. Growing crops
C. Trade fixtures
D. Uncut timber
C. Trade fixtures

107. That of the subsequent may be a specific variety of exclusive agency listing?

A. Multiple Listing Agreement

B. Residential Listing Agreement
C. merchant choice Listing Agreement
D. Residential Listing Agreement merchant Reserved

D. Residential Listing Agreement merchant Reserved

108. A lease for associate degree flat during a residential flat project is sometimes which

kind of lease?

A. A gross lease
B. A web lease
C. A share lease space
D. A ground lease

A. A gross lease

109. A developer engineered a six-story structure. Many years later, associate

degree ordinance was passed therein space ban any building six stories or higher. This
building may be a

A. violation of the partitioning laws
B. conditional use
C. scenario during which the structure would have to be compelled to be razed
D. nonconformist use

D. nonconformist use

110. Beneath the terms of a web lease, a billboard tenant sometimes would

be chargeable for paying

A. mortgage disbursement
B. revenue enhancement payments
C. land taxes
D. lenders fees

C. land taxes

111. In the construction of a building, there are several indirect costs involved, one of
which is:

A. building permit fees.

B. material costs.
C. labor costs.
D. subcontracts.

B. building permit fees.

112. In a single-family dwelling, the extended (spread out) part of the bottom of the
exterior of the foundation is called the:

A. base.
B. footing.
C. foundation.
D. pier.

B. footing.

113. A landowner oversubscribed AN house in order that a thruway may be designed.

The tenant's lease terminated, however the owner permits him to remain within
the flat till the building is torn down. The tenant continues to pay the rent as
prescribed within the lease. What reasonably residency will the tenant have?

A. residency at sufferance
B. Holdover residency
C. residency at can
D. Periodic residency

D. Periodic residency

114. Division ordinances could regulate:

A. water usage
B. density
C. deed restrictions
D. restrictive covenants

B. density

115. That of the subsequent notices may well be necessary to the filing of a mechanic's

lien?

A. Notice of completion
B. Notice on non-responsibility
C. Notice of non-responsibility, Notice of stop, and see of completion
D. Notice of stop
C. Notice of non-responsibility, Notice of stop, and see of completion

116. Once AN owner sues the govt. to urge salaried, it's better-known as:

A. condemnation
B. inverse condemnation
C. escheat
D. petition
B. inverse condemnation

117. Ms. Chung received an application from her loaner that asked her to specify her race
and ethnic background. Legally, she can:

A. refuse to fill out that portion of the application

B. sue the loaner and also the assets broker for discrimination
C. not decline to answer those queries
D. be denied the loan if she refuses to answer those queries

A. refuse to fill out that portion of the application

118. Mr. Rackman, United Nations agency owns AN house and no alternative property,

sustained a $30,000 operational loss for the last tax year. For tax functions, he may:

A. use the loss to offset any financial gain

B. deduct $5,000 annually on his tax returns for five years
C. deduct common fraction the loss from his financial gain
D. deduct the complete quantity from his standard financial gain

A. use the loss to offset any financial gain

119. AN advance fee contract utilized in reference to a true estate or

business chance listing should embrace all of the subsequent except:

A. the overall quantity of the advance fee to be charged.

B. A guarantee that the sale, lease, or exchange are completed.
C. an in depth description of the services to be performed.
D. The date the fee is to be paid.

B. A guarantee that the sale, lease, or exchange are completed.

120. For a retail merchant engaged on behalf of a housing owner, that of the

subsequent wouldn't be a violation of license law?

A. Submitting a check to hide fees for a ashamed check to the Department of Housing and

Community Development.
B. Advertising the house as new.
C. marketing a housing that has been registered with the HCD.
D. Not providing the certificate of possession or title to the customer.

C. marketing a housing that has been registered with the HCD.

121. When personal property becomes (by intent) a part of real property, it becomes a(n):

A. attachment.
B. inclusion.
C. dedication.
D. fixture.

D. fixture.

122. Withdrawals from the $64000 estate client's trust may be created by the broker

or that of the subsequent people?

A. warranted unauthorized staff United Nations agency area unit licensed by the broker.

B. solely company officers.
C. solely salespersons used and licensed by the broker.
D. a person licensed by the broker in writing.

A. warranted unauthorized staff United Nations agency area unit licensed by the broker.

123. In most states, the mortgager incorporates a right to regain their property by paying

the debt when a proceeding sale. What’s this right called?

A. Owner's right of redemption

B. evenhanded right of redemption
C. Statutory right of redemption
D. Vendee's right of redemption

C. Statutory right of redemption

124. If 2 heaps were purchased for $9,900 each, then split

into 3 heaps and oversubscribed for $8,500 each, what's the proportion yield on the
first purchase price?

A. 26.79%
B. 27.79%
C. 28.79%
D. 29.79%
C. 28.79%

125. In assets matters, the word "impound" most frequently means:

A. attachment.
B. judgment.
C. principal and interest account with loaner.
D. reserve fund for taxes and insurance with loaner.

D. reserve fund for taxes and insurance with loaner.

126. So as to keep up a "release schedule," the beneficiary of a blanket

loan sometimes charges the next proportionate payment quantity to unharness every lot:

A. to own higher security on remaining heaps.

B. to safeguard against the higher heaps marketing 1st.
C. to safeguard the investment as individual heaps area unit oversubscribed.
D. all of the higher than.
D. all of the higher than.

127. Financial gain is taken into account within the appraisal of financial

gain manufacturing property. choose the simplest example of financial gain from the
following:

A. unexpected price increase because of specific changes
B. Mortgage interest
C. Land depreciation
D. Property maintenance

A. unexpected price increase because of specific changes

128. That of the subsequent could seem on a closing statement as a credit to the buyer?

A. Commission paid to the broker

B. Property taxes when Gregorian calendar month fifteenth to the date of closing
C. The balance of AN assumed loan
D. Property taxes when the deadline of March thirty first till June thirtieth

C. The balance of AN assumed loan

129. The acquisition of a price tag for knowledgeable sporting event provides the bearer

what?
A. a license to enter and claim a seat for the period of the sport
B. a license to sell food and beverages at the sporting event
C. AN easement right to park his automotive
D. AN easement in gross interest within the skilled sporting team

A. a license to enter and claim a seat for the period of the sport

130. California real estate law considers manufactured homes:

A. personal property.
B. real property.
C. either a or b.
D. none of the above.

C. either a or b.

131. A 60-year-old man has been living in a home he bought 9 years ago, for which he
paid $90,000. He recently sold the home for $120,000, incurring $9,600 selling expenses
and brokerage fees. What capital gains taxes will he owe?

A. $20,400
B. $30,000
C. $9,600
D. None

D. None

132. Guided missile and Nancy bought a store building and took title as joint

tenants. Nancy died testate. Guided missile currently owns the store:

A. as a tenant in common with Nancy's heirs

B. in trust
C. as a joint tenant with rights of survivorship
D. in separateness

D. in separateness

133. The removal of land once a stream suddenly changes its channel is:

A. breach
B. avulsion
C. adverse possession
D. accretion

B. avulsion
134. Sites for industrial buildings are usually gauged by the:

A. cubic foot.
B. front foot.
C. acre.
D. square foot.

D. square foot.

135. A corporation issued a deed to real property. The president and secretary both
signed the deed and affixed the corporate seal. These actions would probably be
sufficient to pass marketable title if:

A. the deed is executed in connection with the dissolution of the corporation.

B. the transaction involved is within the ordinary scope of business of the corporation.
C. the transferor is a religious organization or church.
D. all of the assets of the corporation are included in the transfer.

B. the transaction involved is within the ordinary scope of business of the corporation.

136. So as for a grant deed to be effective in transferring title to property, it must:

A. embrace a documentary tax
B. be notarized
C. be delivered and accepted
D. be recorded by the county

C. be delivered and accepted

137. A bearing wall in a building:

A. could be at any angle relative to a door. Can be an archway.

B. probably would not be removed during remodeling.
C. would have stronger structural members.
D. all of the above.

D. all of the above.

138. The most purpose of "RESPA" (Real Estate Settlement Procedures Act) is to:

A. to produce shoppers with enough info to change them to buy for settlement services.

B. Place a set limit on settlement prices altogether assets transactions.
C. To standardize settlement services through out the u.s.
D. Place a set limit on settlement prices on residential property of 4 units or less.

A. to produce shoppers with enough info to change them to buy for settlement services.

139. Whenever there's a true estate sales dealing, it should be according to the
inner Revenue Service by the:

A. Seller
B. Agent
C. Escrow
D. Broker

C. Escrow

140. Broker Frankel with Armon assets Company listed a property for a trafficker. Broker
Yuter, with XYZ assets Company, known as Broker Frankel and disclosed that he was a
buyer's agent. Broker Yuter wrote a contract together with his purchaser for the sale of
the property. What, if any, is that the relationship between the buyer's broker, the
vendor and also the listing broker?

A. Agency
B. Customer
C. twin agency
D. there's not a relationship between the parties

D. there's not a relationship between the parties

141. If four persons hold title to property as tenants in common, they

A. would have the correct of survivorship

B. couldn't transfer their interest while not the consent of the others
C. would be unable to work out that portion of the land is theirs
D. should every own a 1 quarter interest

C. would be unable to work out that portion of the land is theirs

142. The DRE attorneys and a retail merchant reach an agreement on the facts of the

case and also the penalty, this can be called:

A. A mediation order
B. A settlement stipulation
C. A outline order
D. an off-the-cuff hearing agreement

B. A settlement stipulation

143. Market price is:

A. what a property would bring in the open market.

B. price offered by an informed purchaser.
C. price asked for by an informed seller.
D. price actually paid for property (escrow closed).

D. price actually paid for property (escrow closed).

144. All of the following would cause economic obsolescence, except:

A. improperly placed improvements.

B. old fashioned kitchens.
C. unfavorable zoning changes.
D. industries moving out of the neighborhood.

b. old fashioned kitchens.

145. The seizure of property before a judgment is understood as:

A. excessive force
B. AN attachment
C. a seizure execution
D. serving the judgment

B. AN attachment

146. A purchaser in a sale-leaseback transaction would be least concerned about:

A. the location of the property.

B. general credit of the lessee.
C. depreciated book value of the improvement.
D. condition of improvements.

C. depreciated book value of the improvement.

147. The beneficiary of a second legal document oversubscribed his interest within

the property for fewer than the unpaid balance of the note. This action is most
ordinarily delineate as:

A. Subrogating
B. Liquidating
C. Discounting
D. Leveraging

C. Discounting

148. Two single persons desire to take and hold title to property, with the ability to later
will their portions to whomever they desire. They should take title as:
A. joint tenants.
B. tenants in common.
C. community property.
D. severalty.

B. tenants in common.

149. Which of the following appraisal methods requires a computation for "accrued

depreciation"?

A. Cost
B. Income
C. Market data
D. All of the above

A. Cost

150. Which of the following is not necessary in a bill of sale?

A. Date
B. Mention of consideration
C. Signature of vendor
D. Acknowledgment

D. Acknowledgment
The most accurate determination of the age of a house can be made by
inspecting the:
A. architectural style of the house
B. physical condition of the house
C. tax assessor's records
D. recorded subdivision map

C. tax assessor's records

Which of the following prevents a person from adopting a position, which is in

conflict with a previous position or a previous action?

A. Fiduciary duty
B. Lis pendens
C. Doctrine of good faith
D. Doctrine of estoppels

D. Doctrine of estoppels

Where no time period for acceptance by the offeree is stipulated in an offer, the
offer:

A. will lapse in 48 hours time

B. will lapse after a reasonable time
C. will lapse in 24 hours time
D. will not lapse; it must be revoked by the offeror

B. will lapse after a reasonable time

On June 5, a prospective buyer gave the broker his personal check for $3,000,
payable to the seller, along with his offer to buy a property. He asked the broker
not to cash it until June 30. Which of the following is correct?

A. The broker may hold the check, but must tell the seller that a check is being held
uncashed before the seller accepts the offer.
B. The broker should not hold the check until June 30, but should cash it immediately.
C. The broker should refuse to accept the check as a deposit.
D. The broker must deliver the check to the seller or to escrow within 1 business day.

A. The broker may hold the check, but must tell the seller that a check is being held
uncashed before the seller accepts the offer.

A short-form appraisal report includes all of the following information except:

A. Description of the site improvements
B. An accurate market analysis
C. Loans and financing terms
D. A site analysis

C. Loans and financing terms

Unless otherwise specified, the rights to minerals which lie beneath the surface
of land:

A. are kept by the original grantor

B. cannot be conveyed apart from the real estate surrounding the minerals
C. are automatically transferred with the sale of the real property
D. cannot be leased

C. are automatically transferred with the sale of the real property