CALIFORNIA REAL ESTATE EXAM LATEST ACTUAL

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CALIFORNIA REAL ESTATE EXAM LATEST ACTUAL

EXAM 2024 ACTUAL 52 QUESTIONS AND CORRECT

ANSWERS ALREADY GRADED A+

• When using the market-data approach to appraise a single-family home, recent sales are

compared to the subject property as to:

• capitalization rates
• exterior features only
• the entire property
• rental income - ANSWER-the entire property

2. A real estate commission is usually based on the:

• listing price
• selling price
• down payment
• loan amount - ANSWER-selling price

• The increase of value with the passage of time describes: 1 / 3

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• appreciation
• "return on" investment
• "return of" investment
• depreciation - ANSWER-appreciation

• Which of the following statements does NOT correctly describe a fiduciary?
• A fiduciary owes loyalty to the principal
• A fiduciary must conform to the principal's legal instructions
• A fiduciary is an agent
• A fiduciary is a neutral third party - ANSWER-fiduciary is a neutral third party

• A broker secured a buyer for his client and the seller accepted. Under which type

of listing could a broker not receive a commission?

• net listing
• open listing
• exclusive listing
• exclusive authorization and right to sell listing - ANSWER-net listing
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• You are preparing a competitive market analysis on a vacant lot that you hope to list for sale.

Which of the following approaches to value will be used in the development of the estimated value?

• Cost approach B. Gross rent multiplier C. Income approach D. Sales comparison approach -

ANSWER-D. Sales comparison approach

• Which of the following comparables would be the most helpful in appraising a home?
• A similar home sold for nonpayment of taxes.
• A similar property sold under duress.
• A similar home sold by a motivated seller to a motivated buyer.
• A similar home sold by an unwilling seller to an unsure buyer. - ANSWER-C. A similar home

sold by a motivated seller to a motivated buyer.

8. The period over which a property may be profitably utilized is called its:

• economic life
• amortized life
• income life
• net life - ANSWER-A. economic life

• Wear and tear to the load bearing members of a building would be classified as:
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