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Real Estate 350-700

questions # 350-700

350.) a family of three siblings, all grown up, can take title as: A. tenants in common B. Joint tenants C. a partnership D. all of these are correct D. all of these are correct
351.) the federal case that said restrictive covenants limiting ownership only to whites are unenforceable: A. brown vs. board of education B.bakke vs. california C. Jones vs Meyer D. Shelly vs . kraemer D. Shelly vs. Kraemer
352.)major cycles in Real estate last ___years. A.30-35 B. 20-25 C. 6-13 D. 3-5 C. 6-13
353.)a conditional commitment by FHA is good for: A. 30 days B. 60. days C. 90 days D. 6 months D. 6 months
354.) A testament is a: A. will B. sandwich lease C. pledge D. negotiable instrument A. Will
355.) the interest rate loans (VIRs) is usually pegged to: A. F.H.A. rate B. prime lending Rate C. Cal-Vet rate D. savings and loans' profits B. prime lending rate
356.) For a frame house in California the life expectancy is __ years. A. 30 days B. 40 C. 50 D. 60 B. 40 years
357.) a grant deed in california always contains: A. two express warranties B. grantee's signature C. two implied warranties D. street address of property C. two implied warranties
358.) Interest for real estate purpose is usually computed on basis of: A. 365 days a year B. 30 days month C. actual days per month D. a and c are both correct B. 30 day month
359.) which does not have to b in writing? A. formal will B. holographic will C. nuncupative will D. a lease for 1001 nights(and days) C. nuncupative will
360.) of the following the most serious is : A. Puffing B. conversion C. Commingling D. cohabiting B. Conversion
361.) Riparian rights refer to: A. easement B. eminent domain C. Water D. adverse possession C. Water
362.) studs are usually __ apart, from center to center. A. 12" B.16"C. 20" D. 24" B. 16"
363.) under conditional sale, contract tile is held by: A. seller B. buyer C. Escrow D. broker A. Seller
364.) A man dies intestate. He leaves a wife and four children. Each child receives ___ of his community property. A 12.5% B. 15% C. 16.6 % D none of these D. none of these
365. The northwest corner of section 23 adjoins: A. southwest corner of section 16 B. northwest corner of section 14 C. southwest corner of section 13 D. northeast corner of section 22 D. Northwest corner of section 22
366.) on a $105,000 one family house in Los Angeles county, the maximum loan through F.H.A. is: A.$167,500 B. $187,500 C. $208,000 D. $298,500 D.$298,500
367.) The party between the lender and the borrower under a deed trust : A. trustor B. trustee C. beneficiary D. Vendee B. trustee
368.) on a probate sale the commission is: A. 6% B. by agreement broker and estate's administrator C. set by court D. set in the will of the deceased C. Set by court
369.) annual gross income of a fourplex is $7,680. cost of the fourplex is is $72,900. gross multiplier is most nearly: A. 9.5 B. .105 C. 95 D. 105 A. 9.5
370.) which is not a factor in estimation the cost of replacing a single family dwelling? A. floor plan. B. rent C. square footage D. the manner in which it was built. B. Rent
371.)most loans are made by: A. savings and loans B. F.H.A C. insurance companies D. V.A. A. savings and loans
372.) a husband dies intestate leaving a wife and 3 children. From his separate property each child would get : A. 1/3 B.1/6 C. 1/4 D. 22.22% D.22.22%
373.) A tenant says in possession contrary to owner's stated desire. The tenant has: A. tenancy for years B. tenancy at will C. tenancy at sufferance D. periodic tenancy C. tenancy at sufferance
374.) the rent goes up according to the cost of living index. The lease: A. is a step lease B. is a percentage lease C. has an escalator clause D. is a straight lease C. has an escalator clasue
375.) which is not necessary in lease? A. names of parties B. amount of rent to be paid C. description of the real property in the premises D. description of the real property C. description of the real property in the premises
376.)to foreclosure a trust deed, after the 90 day reinstatement period has past , the trustee must advertise the trustee 's sale by publishing a notice of sale in a newspaper. At least __ days must elapse between first notice and actual date of sale ---> A. 14 ***B.21** C. 28 D.30
377.) which of the following is not exempt from escrow agent listing by department of corporations? A. attorneys B. title insurance companies C. savings an loan associations D. all the above D. all of above
378.)correct calculation of depreciation helps provide the property investor with: A. better interest rates B. tax shelter C. greater appreciation D. V.A financing B. tax shelter
379.)an example of freehold estate is: A. an estate for years B. a periodic tenancy C. a tenancy at will D. a free simple esate D. A free simple estate
380.) the law concerning recording of documents was introduced into california by: A. mexican government B. united states federal government C. spanish law D. california legislature D. california legislator
381.) "the price a willing buyer would pay and a willing seller would accept, both fully informed and under no abnormal pressure, with the property being exposed for a reasonable period of time." def: A. market price B. market value C. Cost D. book value B. market value
382.) a lease for one week is: A. estate at will B. estate at sufferance C. estate for years D. Periodic tenancy C. estate for years
383.) how much would be at 7% in order to provide the investor with $640.00 monthly income? A. $9,143 B. $91,429 C.$109,714.28 D. $53,760 C. $109,714.28
384.) you may obtain a Real estates appraisers license to: A. Departmant of Real Estate B. Building inspector C. State department of housing D. office of Real Estate Appraisers D. Office of real Estate Appraisers
385.) The questionnaire that a subdivider must prepare is obtained from the: A. County recorder B. state department of housing C. real estate commissioner D. building inspector C. Real Estate commissioner
386.) Physical Deterioration is: A. A clause of depreciation B. Always curable C. functional obsolescence D. economic obsolescence A. A clause of Depreciation
387.) The cost approach to appraising is most appropriate for: A. commercial Properties B. Industrial properties C. older houses D. New improvements D. new improvements
388.) HIghest Point of a frame building is the : A. Rafter B. Header C. Ridge D. Joist C. Ridge
389.) Property is sold by a trustee because of: A. Default B. deficiency judgement C. Attachment D. none of above A. Default
390.) Escrow agencies must be licensed by: A. Real estate Commission B. Corporation Commissioner C. County recorder D. none of these B. Corporation Commissioner
391.) The Statute of Frauds specifies: A. a time allowed to file a court action B. Which contracts must be in writing C. types of fraudulent statements D. the statute of limitations on fraudulent deeds B. Which contracts must be in writing
392.) The market Value of a property less the liens existing against that property is: A. depreciation B. Cost C. Equality D. none of above C. Equally
393.) A portion of a building extending onto the property of an adjoining owner is an example of: A. Encroachment B. endorsement C. Easement D. Emblement A. Encroachment
394.) utility companies string wires across property usually under: A easement appurtenant B. Easement by reservation C. easement by prescription D. easement in gross D. easement in gross
395.) a real estate licensee is said to be practicing law when: A. preparing an offer B. preparing a standard listing contract C. advising a buyer with respect to how to take title to real property D. none of these C. advising a buyer with respect to how to take title to real property
396.)the following is smaller than an acre: A. 4,850 square yards B.170 square rods. C. 180 feet by 240 feet D. 0.16% square miles C. 100 feet by 240 feet
397.)which of the following is most likely not to be classified as real property? A. fence B. producing grape vines C. the newly ripe tomatoes growing in field. D. none C. the newly ripe tomatoes growing in a field
398.) the holding of property by one party for the benefit of another person is: A. leasehold B. joint tenancy C. trust D. none of above C. Trust
399.) there is a square parcel of land about to be be divided into 64 square lots, each equal in size with the others . the sides of each of the new lots will measure 40 rods long. How big is the undivided original square parcel of land out of ---> which the 64 lots will be formed? A. 0.5 square miles ***B. 1.0 square mile*** C. 1.5 square miles D. 2.0 square miles
400.) the deed that conveys after acquired title is: A. Grant deed B. Trust deed C. Quit claim deed D. sheriff's deed A. Grant deed
401.) A balance sheet shows: A. sale value of a business B. Net worth C. profit or loss from a period of time D. none of above. B. net worth
402.) Section 16 is always in the __ of a standard township: A. NW.1/4 B. NE.1/4 C. SW.1/4 D. SE.1/4 A. NW.1/4
403.) the average person in california moves __ years: A. 1-2 B.2-3 C. 4-5 D.5-7 B. 2-3
404.) community property is property owned by: A. the city B. husband and wife C. parks and recreation departments D. state of california B. husband and wife
405.) an easement which is not recorded is : A. invalid B. valid C. unenforceable D. illegal B. valid
406.) A walk up is found with: A. drive-thru restaurant B. pedestrian-oriented banks C. apartments D.) trailer parks C. apartments
407.)the "assignment of rents" clause in a trust deed benefits the: A. trustor B. trustee C. beneficiary D. grantee C. beneficiary
408.) C,C,&Rs are: A. a liens B. easements C. encumbrances D. encroachments C. Encumbrances
409.) an easement in gross benefits: A. the servient tenement B. the land owner C. a person or company D. the state C. A person or company
410.) a creditor can go after your personal assets for the debts of a: A. corporation B. limited partnership C. General partnership D. all of these C. General partnership
411.) the trustor holds: A. naked legal title B. equitable title C. an estate at sufferance D. the trust deed B. Equitable title
412.) the second Quarter interest on a $7,600 term loan at 8% interest is: A. $608 B. $76 C. $152 d. None of these C. $152
413.) An overbid at a probate sale must be ___ of the first $10,000 and 5% of the remainder of the highest bid: A. 5% B. 10% C. 15% D. 1% D. 10%
414.) the person with the least interest in real property would be the: A. tenant for years B. real estate licensee C. tenant at sufferance B. Real estate licensee
415.) A deeded land to B. B recorded in Las Angeles County, although the land was in northern Orange County. Which is correct? A. A has clear title B. B has title C. B cannot transfer title till his deed is properly recorded D. none of above are correct B. B has title
416.) part of a parcel has been condemned for a freeway. This freeway is anticipated to bring benefits to the remainder of the parcel, thus making it more valuable . The increased value of the remainder of the parcel is ___ against the value of the ---> land taken. A.subrogated B. declared ***C. offset*** D. salvaged
417.)issuing a writ of execution may result in: A. sherifs sale B. mechanics lien C. trustees deed D. increase in property taxes A. sheriff"s sale
418.) A broker should be familiar with standard accounting procedures in order to: A. correctly prepare an offer to purchase B. Appraise residential property C. keep trust fund records correctly D. Advise buyers on financing sources C. keep trust fund records correctly
419.)a purchaser takes liability for an already existing loan by: A. executing a subordination agreement B. purchasing subject to the existing loan C. assuming the existing loan D. none of above C. assuming the existing loan
420.) a building used for storage measured 100 feet by 220 feet . it rents for 22 cents per square foot. what is the rents over one year's of time? A. $ 4,840 B. $48,400 C. $50,880 D. $58,080 D.58,080
421.) mr. white borrows $23,000 with a three year term and an 8.5% annual interest rate. How much interest will the borrower hate to pay? A. $1,995 B. $1,955 C. $5,986 D. $5,865 D. $5,865
422.) an example of the secondary mortgage market: A. V.A B. F.H.A. C. "fannie Mae" D. A lender who makes junior deeds of trust or mortgages C. "Fannie Mae"
423.) parol evidence is: A. allowed if the contract is incomplete B. The final contract C. Allowed to prevent fraudulent contracts D. A&C are both correct D. A&C are both correct
424.) money recieved from a seller for advertising a listing shoukd be placed in broker's:A. special account B. own general account C. Trust account D. None of these C. trust account
425.) tenants in common have unity of : A. title B. time C. possession D. interest C. Possession
426.) joint tenants have unity of A. title B. Time C. possession D. All of these D. All of the above
427.) if you lend money for the borrower to purchase personal property, you should have the borrower sign: A. security agreement B. bill of sale C. chattel real D. trust deed A. security agreement
428.) to use capitalization approach to appraising you need the: A. gross income B. occupations of tenants C. net income D. cash flow C. Net income
429.) A C.R.V. is good for: A. 30 days B. 90 Days C. 6 month D. one year C. 6 months
430.) form UCC-3 is used yo: A file a financing statement B. request information from secretary of state regarding possible financing statement C. record a trust deed B. Request information from secretary of state regarding possible financing statements
431.) under the subdivided Lands Act, the commissioners financial report is good for: A. two years B. 3 years C. 4 years D. 5 years D. 5 years
332.) under tenancy in common, when one co-tenant dies: A survivors own his share automatically B. this interest passes to his devisees under his will or to his heirs C. the co-owning survivors automatically become executors of his estate D. none of above B. his interest passes to his devisees under his will or to his heirs
433.) A licensee who issued a restricted license may be restricted as to; A. the term and area of activity B. the number of sales each quarter C. the amount of commission he can receive D. All are correct A. The term and area of activity
434.) putting together 2 or more parcels to form a large parcel under one ownership is called: A. aggregating B. compounding C. turn over D. Assemblage D. Assemblage
435.) the maximum rate of interest an individual can charge for marking an unsecured loan is: A. 8% B. 10% C. 18% D. 29 % B. 10%
436.) under a land contract the buyer is related financially to the seller in the same manner as: A. optionor-optionee B. lessor-lessee C. trustor-beneficiary D. employee- employer C. trustor-beneficiary
437.) in the construction of most houses, the footing is: A. the foundation B. above the foundation C. below the foundation D. not at all related to the foundation C. below foundation
438.) which is not an element of value? A. demand B. transferability C. scarcity D. Plottage D. Plottage
439.) A assumes a trust deed from B. which is correct? A. only B is liable B. A and B are both primary liable C. A is primarily liable and B is Secondary liable D. B is primary liable and A is secondary liable C. A is primarily liable and B is Secondarily liable
440.) the best place to confirm information concerning possible liens against most types of personal property is : A. County recorders office B. county assessor C. county clerk D. secretary of state D. secretary of state
441.) disintermediation means; A. people increasing their savings in savings and loan associations B. increasing funds available for conventional loans from saving institutions C. sudden withdrawal of funds from savings institutions by depositors D. none^ C. sudden withdrawal of funds from savings institutions by depositors
442.)a "tax Shelter" affects: A. income tax B. sales tax C. real property tax. D. none of these A. income tax
443.) except for those who were wounded,disabled, or were prisoners of war in the military, All Cal-vet eligibilities expire __ years after release from military service: A. 15 B. 20 C. 30 D. no time limit D. no time limit
444.) you want to earn 60$ per month on a 9.5% investment. How much do you need to invest? A.$632 B.$7,200 C. $7,579 D. $758 C. $7,579
445.)a branch of moral science: A. agency B. license C. fiduciary D. ethics D. ethics
446.) the sophisticated beneficiary of a junior deed of trust on real property: A. records the document with the Sec. of State B. Charger 30% interest or more if the beneficiary is an individual C. records a request for Notice of Default C. Records a request for Notice of Default
447.) A restriction in a deed would be enforced by: A. housing inspector B . Planning commission C. Court injunction D. board of realtors C. Court injunction
448.)the broker's loan statement is prepared for the benefit of the: A. Broker B. Trustee C. Trustor D. beneficiary ??
449..) the greatest amount of savings in the US is held by which group? A. banks B. pension funds C. insurance companies C. insurance companies
450.) the chief function of "Ginnie Mae" is to: A. guarantee payment on securities sold by " Fannie Mae" B. guarantee insurance through F.D.I.C. C. guarantee insurance to securities sold by " Freddie Mac" D. guaranee insurance through F.S.L.I.C. A. Guarantee payment on securities sold by "Fannie Mae"
451. Under the civil rights act of 1968, if any party feels he or she was discriminated against they should: A. file an action in local court for violation of a civil right and damages. B. go to the F.E.P.C. office **C. file a complaint with H.U.D or ---> justice depot or file a civil action in federal court.*** D. file criminal charges with local police
452.) capitalization approach to appraisal is most appropriate for; A. appartments B. New homes C. older homes D. all of these A. appartments
453.) the v.A will guarantee will guarantee a loan to an eligible veteran veteran up to a maximum of A. $17,500 B. $50,750 C. $60,000 D. no upper limit B.$50,750
454.) the W1/2 of the W1/2 of the E1/2 of the E1/2 of section 19 is ___acres. A 20 B.40 C.80 D. 20 B.40
455.) a property with great value in amenities would be appraised by what method? A. capitalization approach B. replacement cost approach C. comparison method D. none of above C. comparison Method
456.)the rule that a broker should encourage the exclusive listing of a property is found in: A. california cilvil code B. real Estate Commissioner's rules C. Code of Ethics of Realtors D. Common sense, but its not from any of above sources C. Code of Ethics of Realtors
457.) the fee charged to make a loan is : A. origination fee B. Procedural fee C. fee simple D. processing fee A. origination fee
458.) usually an offer must be accepted: A. in the manner specified in the order B. with in two weeks C. according to the wishes of the seller D. as specified by broker A. in the manner specified in the order
459.) under assignment of a lease, the assignee becomes: A. secondarily responsible for the rent. B. lessor C. primarily responsible for the rent D. subtenant C. primarily responsible for rent
460.) a trust deed is a : A encumberance B. lien C. both A and B D. neither A or B C. Both A and B
461.) Under a sandwich lease the original lessee is also: A. a sublessee B. secondarily responsible for rent C. a lessor D. all of above C. A lessor
462.) Who may make a V.A loan? A. Banks saving and loan associations. B. mortgage companies C. insurance companies D. all of above D. All of above
463.) V.A. residential loans must be paid off in __years. A. 25 B. 30 C. 35 D. 40 B.30
464.) a title insurance company would search the records of : A. county recorder B. Sec of state C. federal land office D. all of above D. all of above
465.) in california, the basic obligation for a loan on real property is evidenced by the: A. trust deed B. recordation C. note D. grant deed C. Note
466.) which section is immediately north of section 27? A. section 22 B. section 21 C. section 26 D. section 24 A. section 22
467.) selling the same land twice to different people is: A. not illegal B. civil matter but not a criminal violation C. misdemeanor D. a Felony D. Felony
468.) the youngest a married man may sign a binding contrsct for real estate is; A 21 B. 16 C. 18 D. no minimum age if married D. no minimum age if married
469.)an attachment is a lien on property for: A 10 years B. never outlaws C. 3 years D. 5 years C. 3 years
470.) probate is handled in: A. municipal court B. federal court C. superior court D. state supreme court. C. superior court
Created by: natedefrance
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