California Real Estate Exam Latest Update 2024- 2025 Actual Exam with 200 Questions and 100% Verified Correct Answers Guaranteed A+ Approved by the Professor
_____means something is left to be done to a contract. - CORRECT ANSWER:
Executory
"Hand money" paid upon the signing of a purchase contract is called - CORRECT
ANSWER: A deposit
A agrees to sell his brand new limousine to B in return for one dollar. Later A wishes to
back out of the deal. - CORRECT ANSWER: He may not do so.
A agrees to trade her car to B in exchange for a vacant lot that B owns. - CORRECT
ANSWER: This is a valid contractual arrangement.
A Bill of Sale is used to transfer - CORRECT ANSWER: Personal property
A broker must keep records for ___ years. - CORRECT ANSWER: 3 years
A broker must place funds belonging to others in - CORRECT ANSWER: A trust, or
escrow, account, or with an escrow agent.
A broker's unlicensed secretary may - CORRECT ANSWER: Refer interested clients to the broker or her employed licensees.
A California Real Estate license is good for negotiating - CORRECT ANSWER:
Anywhere in the state of California, the sale of any kind of real property, and the sale of property outside of California, if negotiation occurs inside California. 1 / 3
A California real estate license is good only in - CORRECT ANSWER: The state of
California
A chattel - CORRECT ANSWER: Is most accurately described as personal property
A contact in which an owner of real estate employs a broker for the purpose of finding a
buyer for the real estate is a - CORRECT ANSWER: Listing
A contract based on an illegal consideration is - CORRECT ANSWER: Void
A contract in which A agrees to allow B to use A's real estate in return for periodic
payments of money by B is a - CORRECT ANSWER: Lease
A contract in which A agrees to purchase B's real estate at a later date is - CORRECT
ANSWER: A contract of sale
A contract in which property is transferred from one person to another is a - CORRECT
ANSWER: Deed
A contract that has no force or effect is said to be - CORRECT ANSWER: Void
A contract whereby a group of neighboring landowners agree to do or not to do a certain
thing as to mutually benefit all, is - CORRECT ANSWER: Restrictive covenant
A court action is mandatory to evict a delinquent tenant. This process is called -
CORRECT ANSWER: Unlawful Detainer
A fee simple estate is - CORRECT ANSWER: A freehold estate
A Home Equity Line of Credit is - CORRECT ANSWER: An Open Ended Mortgage 2 / 3
A joint ownership of real property by two or more persons, each of whom has an undivided interest (not necessarily equal( without right of survivorship, is - CORRECT
ANSWER: A tenancy in common
A legal process whereby a person holding a legal claim against a property may have the court order the property to be sold so as to provide funds to pay the claim - CORRECT
ANSWER: Foreclosure
A legal process whereby the owner is dispossessed of the property and must leave -
CORRECT ANSWER: Condemnation
A licensed salesperson may act independently (that is, not in the employ of a broker) -
CORRECT ANSWER: To sell her own house, provided all parties know she hols a
license.
A licensee's license must be - CORRECT ANSWER: Available for examination in the
broker's office.
A life estate pur autre vie is one in which - CORRECT ANSWER: The duration of the life estate is based on the duration of the life of someone other than the life tenant.
A listing contract that says the broker will receive a commission no matter who sells the
property is called - CORRECT ANSWER: An exclusive-right-to-sell listing
A listing in which the broker's commission is the amount by which the sale price exceeds the agreed-upon net price the seller desires - CORRECT ANSWER: Net listing
A notary public - CORRECT ANSWER: Provides acknowledgment
A person holding title to real property in severalty would most likely have - CORRECT
ANSWER: A sole ownership
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