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California Real Estate Exam questions with suitable answers Qs In reference to Property, Exams of Nursing

California Real Estate Exam questions with suitable answers Qs In reference to Property Taxes, "basis" or "cost" is - n ANS✔ Purchase price of prop plus cost of improvements. Qs How is a condominium unit owned? - n ANS✔ Separate interest Qs How are common interests in a condo owned? - n ANS✔ Equally in undivided interest Qs Subdivided Land Laws refer to - n ANS✔ Subdivisions of 5+ parcels on 160 acres, regulated marketing & financing, and requires disclosures in public report. Qs How long is a disclosure in public report for Subdivided Land Laws good for? - n ANS✔ 5 Years

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2024/2025

Available from 06/10/2025

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California Real Estate Exam questions
with suitable answers
Qs
In reference to Property Taxes, "basis" or "cost" is - n
ANS
Purchase price of prop plus cost of improvements.
Qs
How is a condominium unit owned? - n
ANS
Separate interest
Qs
How are common interests in a condo owned? - n
ANS
Equally in undivided interest
Qs
Subdivided Land Laws refer to - n
ANS
Subdivisions of 5+ parcels on 160 acres, regulated marketing & financing, and requires
disclosures in public report.
Qs
How long is a disclosure in public report for Subdivided Land Laws good for? - n
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Download California Real Estate Exam questions with suitable answers Qs In reference to Property and more Exams Nursing in PDF only on Docsity!

California Real Estate Exam questions

with suitable answers

Qs In reference to Property Taxes, "basis" or "cost" is - n ANS✔ Purchase price of prop plus cost of improvements. Qs How is a condominium unit owned? - n ANS✔ Separate interest Qs How are common interests in a condo owned? - n ANS✔ Equally in undivided interest Qs Subdivided Land Laws refer to - n ANS✔ Subdivisions of 5+ parcels on 160 acres, regulated marketing & financing, and requires disclosures in public report. Qs How long is a disclosure in public report for Subdivided Land Laws good for? - n

ANS✔

5 Years Qs When does a tax year run? - n ANS✔ July 1-June 30 Qs Legally combining smaller, adjacent parcels of land to form a larger parcel. - n ANS✔ Plottage or assemblage Qs Separating large parcels into smaller lots - n ANS✔ Subdividing or separating Qs Amount or size of land being increased by natural forces such as deposits by wind or water. - n ANS✔ Accretion Qs Gradual uncovering of land previously covered by water such as when a stream changes course. - n

ANS✔

The broker is the agent to the customer (customer employs the broker). Qs What is the agents (salesperson) relationship to the broker? - n ANS✔ The salesperson is the agent to the broker (the broker gives the salesperson authority to act on his/her behalf). Qs A Home Equity Line of Credit is - n ANS✔ An Open Ended Mortgage Qs An Open Ended Mortgage is - n ANS✔ A type of note that permits the borrower to obtain more money at a future date under the same deed of trust. Qs Zoning is an example of - n ANS✔ Police power Qs Local jurisdictions have the authority to divide land into districts and impose land use regulations to promote health, safety, and welfare of the public--this is known as - n

ANS✔

Zoning Qs When can restrictions placed on a deed be removed? - n ANS✔ Never Qs What is the only restriction placed on a deed that is considered illegal? - n ANS✔ Race restrictions Qs Is an option contract bilateral or unilateral? - n ANS✔ Unilateral Qs What does an option contract NOT do? - n ANS✔ Create a legal interest in a property Qs If a buyer has defaulted on on an original land contract which had been recorded, this would result in a defective title, requiring legal action to clear the title. This is called - n ANS✔

Exclusive right to sell Qs What does a deed NOT need to be considered valid? - n ANS✔ A date Qs A valid deed must have 3 components - n ANS✔ Be in writing, be signed by the grantor, and delivered to the grantee Qs For a deed to be recorded, it must - n ANS✔ Be acknowledged (notarized) Qs A chattel - n ANS✔ Is most accurately described as personal property Qs Which is NOT corporeal property? A fee simple estate, a leasehold, an easement, or a fixture? - n ANS✔ An easement

Qs What is a visible or tangible right in real estate such as the right of occupancy under a lease? - n ANS✔ Corporeal Qs What time of estate does one hold when it along exists with you for the duration of your life or someone else's life? - n ANS✔ Life Estate Qs When the recipient of a life estate dies, who is the person that it is willed to after their death? - n ANS✔ A remainderman Qs Which of the following is not REAL property? A fee simple estate, a leasehold for indefinite duration, lumber, or a life estate. - n ANS✔ Lumber Qs Real estate is defined as - n ANS✔

Qs A person who has permission to use land, but has no other rights, has - n ANS✔ License to use Qs A person who receives title to land by virtue of having used and occupied it for a certain period of time, without actually paying the previous owner for it, received title by - n ANS✔ Adverse possession Qs Dying without a will is called - n ANS✔ Intestate Qs Dying WITH a will is called - n ANS✔ Testate Qs A person who owns an undivided interest in land with at least one other, and has the right of survivorship, is said to be a - n ANS✔ Joint tenant

Qs Tenancy in severalty refers to - n ANS✔ Ownership by one person only Qs Community property includes - n ANS✔ Property acquired during a marriage with the husband's earnings from his job. Qs The right to use the property of another for a SPECIFIC purpose is - n ANS✔ An easement Qs The process whereby a person holding claim against property can have the property sold to pay the claim is - n ANS✔ Foreclosure Qs A person who appears to own property, but does not, is said to have - n ANS✔ Color of title

Qs A person who has color of title to land has - n ANS✔ The appearance of title Qs A life estate pur autre vie is one in which - n ANS✔ The duration of the life estate is based on the duration of the life of someone other than the life tenant. Qs Is a lease for one month considered real property? - n ANS✔ No Qs Adverse possession may establish - n ANS✔ A claim to title Qs Fifty feet of land was added to Apple's farm because a river changed its course. This is an example of - n ANS✔ Accretion

Qs Accretion - n ANS✔ An increase in land resulting from the deposit of soil by the water. Qs Fifty feet of beachfront land was removed by a flood. This is an example of - n ANS✔ Avulsion Qs Avulsion - n ANS✔ A sudden and perceptible loss of land by the action of water as by a sudden change in the course of a river. Qs If someone dies without a will, who is appointed to settle the estate? - n ANS✔ Administrator Qs As used in real estate practices, the land of a riparian owner borders on - n ANS✔ A river, a stream, or a watercourse Qs

The covenant of quiet enjoyment most directly relates to - n ANS✔ Possession of real property Qs An interest in real property may be acquired by prescription or by adverse possession. The interest resulting from prescription is - n ANS✔ The right to use another's land Qs A contract whereby a group of neighboring landowners agree to do or not to do a certain thing as to mutually benefit all, is - n ANS✔ Restrictive covenant Qs Claims against the owner of a property are - n ANS✔ Liens Qs 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 - n ANS✔ Foreclosure Qs

Land records, including deeds, liens, restrictions, some leases, and contracts of sale may be viewed by whom? - n ANS✔ Anyone, they are public records Qs In reference to Property Taxes, "basis" or "cost" is - n ANS✔ Purchase price of prop plus cost of improvements. Qs How is a condominium unit owned? - n ANS✔ Separate interest Qs How are common interests in a condo owned? - n ANS✔ Equally in undivided interest Qs Subdivided Land Laws refer to - n ANS✔ Subdivisions of 5+ parcels on 160 acres, regulated marketing & financing, and requires disclosures in public report. Qs How long is a disclosure in public report for Subdivided Land Laws good for? - n

ANS✔

Reliction Qs The Statute of Limitations in the state of California allows how long to take action? - n ANS✔ 4 years Qs The process by which the court may seize real or personal property as security for a satisfaction of monetary judgement. - n ANS✔ Attachment Qs When is a 20-day preliminary notice of a mechanics lien need to be issued? - n ANS✔ 20-days after the claimant (contractor) has first furnished labor, services, equipment, or materials. Qs What is the purpose of issuing a preliminary notice of a mechanics lien to a claimant? - n ANS✔ To inform concerned parties that the property may be subject to liens arising out of contract. Qs What is the brokers relationship to the customer? - n

ANS✔

The broker is the agent to the customer (customer employs the broker). Qs What is the agents (salesperson) relationship to the broker? - n ANS✔ The salesperson is the agent to the broker (the broker gives the salesperson authority to act on his/her behalf). Qs How much must the government pay a private party for their property when using eminent domain? - n ANS✔ Fair market value Qs If a landowner is reluctant or refuses to negotiate with the government in eminent domain, the government will - n ANS✔ Condemn the effected land Qs A legal process whereby the owner is dispossessed of the property and must leave - n ANS✔ Condemnation