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CALIFORNIA REAL ESTATE SALESPERSON FINAL
EXAM LATEST 2025/ 2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||LATEST EXAM!!!|| ||BRANDNEW!!!||
Using time-management to increase income, you should realize that - Answer-doubling "A" time activities should double your income.
What are the advantages of a good time-management program? - Answer-Improved efficiency Increased income A release from time pressures
Nonresidential real estate purchased since 1987 must be
depreciated using: - Answer-both 39 years for the property
life and the straight-line method.
A married couple sells their principal residence of 30 years for $650,000. Their adjusted cost basis is $80,000. How much of their gain would be taxable? - Answer-$70,000 (They have a gain of $570,000 and a $500,000 exclusion). 1 / 4
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An ad valorem tax describes - Answer-real property taxes.
Requirements for a valid 1031 exchange include - Answer- both that the property must have been held for productive use in a trade or business or for investment purposes and that the exchange property must be of like-kind.
To have a valid delayed exchange - Answer-both the exchange property must be identified within 45 days and the exchange must be completed no more than 180 days after transfer of exchanged property.
Proposition 13 provided for - Answer-All of these:
-Property taxes to be increased up to 2% each year.-Assessed value of property acquired before 1978 to be reduced to the amount shown in the 1975 tax roll.-Newly acquired property to have a maximum basic tax levy of 1%.
A lease that needs no notice for termination, would be - Answer-an estate for years. 2 / 4
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A common fee arrangement for commercial property managers would be a - Answer-combination of percentage of the gross and minimum fee.
A lease stipulating that the tenant pays a fixed monthly rental and the landlord pays all other property expenses would be a - Answer-gross lease.
Security deposits for unfurnished residential rentals cannot exceed - Answer-two months rent unfurnished, 3 months rent furnished
A property manager would know that Section 8 housing refers to - Answer-a subsidized rent program for low- income tenants.
A lease for a definite period of time would be - Answer-an estate for years.
Which of the following statements BEST describes a sublease? - Answer-The sublessor is liable to the owner and the sublessee is a tenant of the sublessor. 3 / 4
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A property manager who lives on the property and is employed by the owner, would be - Answer-a resident manager (no license required)
Types of property requiring property management include
- Answer-All of these:
-Apartments.-Industrial parks.-Office buildings.
A clause in a percentage lease whereby the landlord has a right to regain the premises if the tenant fails to achieve a stated gross would be - Answer-a recapture clause.
One of the requirements for a real estate salesperson to be regarded as an independent contractor by the IRS is that the - Answer-broker-salesperson contract states that the salesperson shall be treated as an independent contractor for tax purposes.
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