1-100%-2-100 MIX Real Estate Exam Questions PDF

1-100%-2-100 MIX - What type of license is issued to a real estate salesperson applicant with an unpaid child support obligation?  **D. A 150-day temporary** - Which of the following is not exempt from requiring a real estate license?  **D. A corporation providing real estate sales...

1-100%-2-100 MIX - What type of license is issued to a real estate salesperson applicant with an unpaid child support obligation?  **D. A 150-day temporary** - Which of the following is not exempt from requiring a real estate license?  **D. A corporation providing real estate sales services** - Where are payments for financial injury due to fraudulent practices of a real estate broker made from?  **B. California Real Estate Recovery Fund** - Which of the following is true?  **D. None of the above** - Informed consent to practice dual agency is:  **D. None of the above** - When must a real estate salesperson be licensed to receive a commission?  **A. At the time of the transaction** - How long does an applicant have to obtain their salesperson license after passing the exam?  **B. One year** - Which of the following is true? **B. All salespeople must work for brokers** - What is the grace period during which an expired license may be renewed by paying a fee?  **B. Two years, and the agent cannot practice during that time** - How much can commercial property owners require? **D. There is no maximum** - Who can pay for public improvements such as sidewalks?  **D. All of the above** - How is the completion of the mandatory physical inspection of the property certified?  **D. The Real Estate Transfer Disclosure Statement** - If a broker is asked about the cause of death of a previous owner, what should they do?  **A. Must answer the question honestly** **Property Disclosure** - Seller disclosure of a dwelling\'s physical condition is required for:  **C. Mobile homes** - Within what time frame must legal action be filed due to information in a property transfer disclosure statement?  **D. Three years** - How is the Real Estate Recovery Account funded?  **D. Real estate license fees** - Which of the following is least likely to be considered fraudulent misrepresentation?  **A. This house is in a great school district** - When must Broker A disclose his interest in a property?  **D. All of the above** - A member of the National Association of Realtors is known as a:  **C. Realtor** - The Homeowner\'s Guide to Earthquake Safety must be provided purchasers of homes built before:  **A. January 1, 1960** - Which of the following is not a material fact affecting property value?  **C. The presence of a significant minority population in the community** - Houses built after 1980 and sold with a broker will require all except:  **A. A lead-paint hazard disclosure** - What do state responsibility areas deal with in terms of disclosure?  **B. Fire hazard** - Ordnance location disclosure deals with:  **D. Possibility of live ammunition from military installations in the area** **Real Estate Contracts** - What type of contract is created when one party agrees to sell property for a certain amount of money in writing?  **A. Express bilateral** - If a contract involves burning down a building for insurance, what type of contract is it?  **B. Void** - An option to purchase property is an:  **B. Express unilateral agreement** - Which listing agreement does not need to be in writing?  **D. An agent representing a landlord renting rooms in a rooming house on a week-to-week basis** - Who does a real estate broker always represent?  **D. Buyer and/or seller** - When is a real estate commission generally earned? **C. Mutual consent** - If Buyer A wants to buy property for 300,000 and Seller B is willing to sell for 350,000, who is the offeree and offeror? **B. Buyer A is the offeree; Seller B is the offeror** - What is the minimum age for a married person to enter into a contract? **D. There is no minimum age for a married person** - In an option agreement, the consideration is: **C. The amount paid for the right to purchase the property** - An exclusive authorization and right-to-sell agreement is considered an:  **D. Express bilateral contract** - A tenant who stays in rented property after the lease has expired without the landlord\'s consent has:  **A. An estate at sufferance** - What is the tenant\'s interest in property?  **B. Leasehold and is considered personal property** - A periodic tenancy can be created from:  **D. Either A or B** - What is required for a commission payment to be enforced from the listing agreement? **B. The agreement must be in writing** - What should Broker A do with respect to two offers on Seller B\'s house?  **D. Both A and B** - The Mobilehome Residency Law covers agreements:  **D. Both A and B** - What is the charging of interest on a note above the statutory maximum rate called?  **D. Usury** - The two primary documents dealing with payment of a loan are the mortgage or deed of trust and a:  **A. Promissory note** - Owner A sells property to Buyer B and needs access to the county road. What must happen?  **D. Owner A must reserve an easement appurtenant for himself** - A lease option for a house: **gives the tenant the right of possession, to purchase the house in the future**  - Fees charged to a tenant in a mobile home park are limited to all of the following except:  **occupancy fee**  - Note that reduces the bank\'s risk of changing interest rates is called the:  **adjustable rate note**  - The last payment on a mortgage, typically twice as much as others, is called:  **a balloon payment.**  - Which of the following is not true about the rights of a tenant in a lease situation?  **The tenant has a fee simple defeasible interest.**  - A landowner\'s subsurface rights include everything except:  **Rights to drill at a slant onto a neighbor\'s property for oil and gas.**  - The stock in a mutual water company that is appurtenant to the land:  **May only be transferred with the transfer of the property.**  - In a real estate sale, fixtures:  **Are assumed to stay with the property.**  - Which of the following is not true in government or rectangular survey system?  **A section is a square 1/2-mile on each side.**  - In the government survey system, a lot less than a quarter section created due to natural features is called a(n) **Government lot.**  - An assessor\'s map may not be used to legally describe a property in a deed unless the map: **Has been filed in the county recorder\'s office.**  - Antitrust laws prohibit: **A broker discussing a commission with a competing broker.**  **Contracts** - Which of the following agreements must be in writing?  **all of the above**  - A material fact and a material defect are the same thing:  **sometimes**  - The obligation of a broker or salesperson to inspect a property for physical defects was based on  **Easton v. Strassburger**  - Disclosure requirements for a real estate agent are limited to:  **material facts and all agency relationships**  - Damage or destruction that occurs to a property before escrow closes but after the purchase contract is signed:  **is the responsibility of the seller**  - A real estate salesperson\'s license is behind on his child support payments and on a delinquent payment list. What type of license can he be issued?  **a temporary 150-day license**  - What is the limit on the cost of work that can be done by an unlicensed contractor?  **less than \$500**  - The practice of real estate without a real estate license is prosecuted by:  **the district attorney in the appropriate jurisdiction** - A warranty of authority:  **makes the principal responsible for certain agent actions**  - Use of the term Realtor unless one has the right to use the term:  **all of the above**  - A real salesperson working as an independent contractor will have:  **workers\' compensation coverage**  - Sellers of condominiums and common interest subdivisions must disclose:  **minutes of the past 12 months of homeowners\' association meetings**  - Houses built before what year require a lead-based paint disclosure to buyers?  **1978**  - The Natural Hazards Disclosure Act requires such disclosure for:  **virtually all properties**  - Under the appropriate circumstances, which disclosures is not required by a seller?  **demographic change disclosure**  - Owner A and Buyer B. agree on amount of money, type of deed, and closing will be. This contract is: **Void and unenforceable**  - The major difference between a unilateral and a bilateral contract is that:  **in a unilateral contract, only one party must act; in a bilateral contract, both parties must act**  - Buyer A signs an agreement with Seller B to purchase her home. Seller B changes her mind about selling, but Buyer A still wants the house. Buyer B files a suit for:  **specific performance**  - Which of the following is most correct about buyer broker compensation?  **The fee paid by the seller is credited against the fee owed by the buyer** - A homeowner offers to compensate any broker who brings a successful buyer. She is create an:  **express unilateral open listing**  - Which is not a requirement of a valid real estate sales contract?  **acknowledgment**  - A real estate sales contract entered into by an emancipated minor is:  **valid**  - If Farmer contract of sale is silent about the tomatoes, who has the right to harvest the crop?  **the new owner**  - Which of the following is correct regarding the statute of limitations for enforcing written and oral contracts?  **written, four years; oral, two years**  - A broker acting without a listing agreement must follow whose instructions with respect to the buyer\'s deposit?  **the buyer\'s**  - Land due leased an apartment to Tenant B for six months without specifying the rent due date. Rent is due:  **at the end of the six months**  - A written lease may be changed by all of the following except  **oral agreement**  - A periodic tenancy without a lease for agricultural and grazing land is assumed to run:  **for one year**  - In addition to the usual elements of a contract, a real property land contract must include:   **the number of years to complete the contract**  - According to the NAR code of ethics, once a seller has accepted an offer, a Realtor:  **Can stop marketing the property.**  - Before taking the state license examination to be a real estate salesperson, a person must have at least completed or be enrolled in a course in:  **Real estate principles.**  - A real estate broker operating a prepaid rental listing service is exempt from: **Both A and B.**  - A licensee who has had her license suspended by the real estate commissioner after a hearing may appeal to the:  **Courts.**