RE Principles final

Under section 761 of the california civil code, enacted in 1872, estates in real property are classified, with respect to duration, into which of the following categories:

1. Estates of inheritance or perpetual estates; 2. Estates for life; 3. Estates for years; or 4. Estates at will.

What is the mill rate of .017?

17

there are four principal prerequisites for transforming a mobile home into real property: (1) obtaining a building permit; (2) attaching the mobile home to an approved foundation; (3) recording a document reflecting that the mobile home has been affixed to an approved foundation system; and:

(4) notification by the mobile home owner of both the HCD AND the local assessor about the mobile home's transformation into real property

Which of the following is exempt from the Natural Hazards Disclosure?

A geological hazard.

The legal phrase that describes the right to recover money or other personal property through a judicial proceeding, including the right to recover something under a contract, such as money owed on a note, as well as the right to recover damages for a tort or private wrong, is known as: ?????

Choses in action Chattels Chattels real Contract action

Which act is known as the original fair housing statute?

Civil Rights Act of 1866

Judy is the listing agent for the Brandts' home. In the inspection of their home, she discovers a few issues of concern. The basement is very damp and smells of mildew. Judy noticed what appeared to be mold on the interior walls of the lower level. She also saw what she believed to be their main line overflowing in the utility area of the basement. State the case that is responsible for brokers conducting a diligent inspection of properties they are listing or selling.

Easton v. Strassburger

which level of government is currently "in charge" of planning controls for California property?

Federal

Mr. Manning has owned a restaurant for forty years. He is in the process of selling his business to a group of investors who plan on revamping the restaurant and turning it into a destination. In the negotiation of the sale, Mr. Manning has stipulated he is willing to accept their offer on two conditions: There may never be any alcohol served on the property, and there can never be dancing of any kind. Mr. Manning is insistent on these conditions due to his religious beliefs. If either of these activities ever takes place, Mr. Manning would have the right to take back the property. Which type of estate applies?

Fee Simple Defeasible

La Mesa real estate broker Michael Hagans plans to begin listing or selling mobile homes. He must comply with all but one of the following statements. Which of these is NOT a requirement for Michael to list or sell mobile homes?

He must only sell new mobile homes.

What are the types of legal life estates?

Dower, a wife's interest in the husband's property; Curtesy, a husband's interest in a wife's property; and Homestead, protection against unsecured debts for the party who did not sign for the loan.

Carol is studying for the California real estate license examination. She knows she has to know all areas covered in the examination extremely well to pass. Which portion of the examination, approximately, makes up the largest portion of the test?

Practice of Real Estate and Mandated Disclosures

Which of the following is not a requirement for a FHA loan?

Prepayment penalties are optional.

XYZ Corporation is interested in a piece of land for development. They are selling off a bit of company stock to buy the property without any debt. Is XYZ's sale of stock considered a form of financing?

It is actually considered a mortgage financing alternative

When is it permissible for a broker to possess an out-of-state trust account?

It is only permitted if the FDIC insures the account, and the account is used only for specific first loans.

Thad and Pierre made an appointment to view a condo for lease advertised in the newspaper. Thad phoned the landlord and set up a viewing for two hours later in the day. The couple thought the condo was perfect and informed the landlord they wanted to start the application process to lease the condo. The landlord then explained the condo had just been leased. The next Sunday in the classifieds, the condo was again advertised for lease. A friend of the couple phoned the landlord, pretending to be interested in the property. When asked if it had been leased, the landlord replied, "No". What is going on in this situation?

It seems the landlord did not like the idea of leasing his condo to a same sex couple. This is not permissible. A landlord must live by federal and state fair housing laws.

Lillian is buying Julia's home in Malibu. Julia, after selling her home to Lillian, is buying Anne Marie's condo in San Francisco. In these transactions, who is the grantor and who is the grantee?

Lillian is the grantee and Julia is the grantor. Julia is the grantee and Anne Marie is the grantor.

Calvin is buying his first home. He has been saving and saving for years. The home he is buying has a price of $300,000 and Calvin has a down payment of $75,000. Calvin's loan is considered:

Low Risk

When an appraiser assumes that no one is being forced to sell at a reduced price because of an impending divorce or similar situation, and that both buyer and seller are well-informed customers, he is more than likely hired to determine:

Market Value

Dan has recently been transferred to San Diego, and only has a month to find a home, sell his condo, pack, move, close, and get to work. His agent shows him the Walsh home and it's perfect. He offers the asking price, along with all the kitchen appliances and window treatments to remain with the property. The Walshes accept his offer exactly as it is written. Which contract term applies to this situation?

Mirror Image

Due to the subdividing of lots on the lake, Jim's property is surrounded on three sides by Louise's property. The only other boundary is the lake. Jim can only get to his home by driving up Andrea's driveway and behind her lake home to get to his own. How was the easement in this situation created?

Necessity

Deanna is buying one of Kay's fur coats and several handbags. They are old friends and sometimes purchase each other's items instead of selling to a consignment shop. Deanna agrees to pay Kay $650.00 for the items, writes a check, and collects her purchased items. Is this transaction legitimate?

No, in the State of California, an agreement for the sale of personal property must be in writing if the amount or value of the property exceeds $500.00.

Missy, a licensee, desperately wants to be appointed the next California Real Estate Commissioner. For the three years she has held her California real estate license, she has been ranked in the top five in new home sales in her office. Missy has never had her license suspended or revoked, and prides herself on being ethical in every transaction and interaction. Does Missy have a chance?

No, not at this point in her career. In order to be appointed to the post by the Governor, she must have a minimum of five years' experience as a real estate broker.

Drew is leasing his apartment from Reggie. The lease is for one year and they have agreed on all areas of the contract. The lease is in written form, and Reggie is the only party that has signed. Without Drew's signature, is the lease now invalid?

No, the lessee is not required to sign, only the lessor. The lessee's occupation of the property is proof the lease agreement was accepted.

Kim, Chris, and Beth are all partners in a cosmetics firm. Kim is leaving the partnership and wants to sell her shares of the business, including the property owned by the partnership, to Chris and Beth. The remaining partners are not interested in buying Kim's interests. Kim has been unable to find a buyer for her share of the partnership. She has now resorted to asking the court to either sell her shares or sell the entire property. What form of concurrent ownership applies? ??????

Partition Law Suit Tenants in Common Community property Separate Ownership

long beach salesperson eric janey is providing sellers julie and zach roberts with the necessary disclosures they must be given upon sale of real property. Which of the following is NOT a disclosure that is given upon the sale of real property?

The Radon Detection Test Disclosure

Wallace and Melissa live in a small rural community of just over 15,000. They want to purchase a home and start a small home-based business. At the current time, they have a very limited income and need their own home. Where is the best place for Wallace and Melissa to turn for a home loan?

Rural Economic and Community Development (RECD)

san luis obispo broker gail hayden is finally doing some long-overdue office cleaning. she comes across records dated all the way back to 8 years ago. Which of the following applies to this situation?

She can destroy them, since the law in California states that all brokers' records must only be kept for a period of 3 years.

A subdivision has a homeowner association rule that states there can be no above ground pools in the subdivision. The Curtis family has an above ground pool in their backyard. Four years later, the new association president threatens to take the family to court for violating the subdivision regulations. Why doesn't the new president have a case?

Statute of Limitations

Tameka's goal is to be a licensed real estate salesperson in the State of California. Tameka is 16 years old, and her long-term goal is to be a successful salesperson, manager, and own a brokerage. She has been studying for next week's exam, but has not attended any accredited real estate courses. However, if she passes, she cannot apply for her license. Why? ??????

Tameka cannot apply for her license because she has not completed a college-level real estate course in Real Estate Principles, or completed any accredited real estate courses. Tameka is only sixteen and a licensee must be eighteen years old. If Tameka had taken any classes to prepare for the examination they would have to be offered by an institution of higher learning accredited by the Western Association of Schools and Colleges or a similar regional accrediting agency recognized by the United States Department of Education, or by an equivalent course of study offered by a private vocational school approved by the CalBRE. All of the Above

Shivaram and Kiran are buying a home in a new subdivision. Due to all of the subdivisions in the area, a new elementary school is being built. Additionally, a new area park is planned. Shivaram and Kiran have been informed the taxes on their new home are substantially higher than their previous property. Why

The Mello-Roos Community Facilities Act of 1982

ollie and molly overton have just taken out a 30-year straight term loan on their new "starter home" in bellflower. this means that:

They will make payments of interest only, with the principal due on the loan due date in 30 years.

Which of the following statements is NOT accurate regarding Cal-Vet loans? ????

The required down payment is 10%-12% of the sales price or appraisal value, whichever is higher. Monthly payments on a Cal-Vet loan include all of the following items (but nothing additional): principal and interest; 1/12 of the annual property taxes; hazard insurance; disability; and life insurance premiums. CalVet requires a structural pest control report and a roof inspection on properties it finances. The loan is made directly from the state to the veteran.

Tamara and her children live in a subdivision with a tennis court and swimming pool. Her children are thrilled to be able to use these wonderful amenities. Who actually owns the tennis court and swimming pool? Tamara and her children reside in which type of common interest development?

The tennis court and swimming pool are owned in common by all the property owners. It is a Planned Unit Development.

In early common law, transfers of land were only made when:

The transfer of land from father to son, upon the father's death, would take place.

The Brights are buying a home from the Stones. They are splitting the escrow service fees 50-50. Do they live in Northern or Southern California? How does the other region usually handle the escrow service fees?

They live in Southern California. In Northern California the buyer usually pays the escrow service fees.

Which of the following is not a prohibited escrow-related activity?

They may not permit, under any condition, any person to make any addition, deletion, or alteration of an escrow instruction unless it is signed or initialed by all persons who had signed or initialed the instructions.

Ben and Amanda are interested in a vacant, undeveloped lot. They are going to continue to live in their current home, pay off the lot's loan, and then build a new home on the lot. Before closing on the purchase of the lot, they discover the zoning regulations permit nightclubs to be built in the immediate area. They specifically asked the broker about this issue and were told there was no reason to worry. What are Ben and Amanda's options, if any?

They may rescind the transaction based on the misrepresentation of the broker.

Ensuring consumers are fully informed of all finance charges and aware of the true annual interest rate are requirements of which regulation?

Truth in Lending

sacramento artist S.C heet has transferred a portion of her property, via a grant deed, to cameron dulle. However, this deed did not set forth in writing the two primary warranties cameron should have on the property: first, that S.C has no already transferred the title to another person;and, second, that the estate is free of any encumbrances, other than what has been disclosed to the grantor. Which of the following is true of this situation?

Under a grant deed, the two warranties — that S. C. has not already transferred the title to another person, and that the estate is free of any encumbrances, other than which has been disclosed — are implied within the grant. These implied warranties do not need to be stated in the deed, but are still present.

Timothy has been hired by the estate of Tyler Wilbanks, who is recently deceased. Timothy has Power of Attorney and will be handling all the real estate affairs of the deceased estate. Which type of agent is Timothy?

Universal Agent

california property taxes are now levied using

a system that is based on the date of acquisition

any false or misleading advertising, whether on the internet or via any other medium, can result in which of the following type of penalties?

any of the above

by california statute, a joint tenancy may be created in which of the following ways?

any of the above

escrow cannot be terminated in which of the following ways?

because of the death of one of the principals

after recieving the seller's transfer disclosure statement, buyer clark rivers is not satisfied that all has been revealed. he's heard rumors that a previous tenant died of aids inside the very home he would like to buy. Clark demands to know if this is true, since it was not mentioned on the disclosure statement. Which of the following is the appropriate legal response the broker must give to clark's query?

both b and c, both asking about not saying anything permitted by laws

each of the following actions, except for one, is considered subversion, which of the following is NOT a form of subversion

bringing a calculator into the examination room

which of the following are not really deeds?

reconveyance deeds

the law that regulates the division of 2 or more lots for the purpose of selling, leasing, or financing said lots, either at that time or in the future, is the

subdivision map act

under which of the following circumstances could a homeowner take his microwave with him when he moves?

if it is unattached, because it would still be considered the current homeowner's personal property

for income-generating properties, a value based on the present value of the rights to future income is called the

income capitalization approach

A contract in which the vendor (seller) agrees to convey the title to the real property after the vendee (buyer) has met certain named conditions, and which does not require conveyance within one year, is ordinarily used in the case of a buyer who can only make a small down payment and monthly installments. This type of contract, because it holds disadvantages for both the seller and the buyer, is no longer a popular financing instrument in california. This is known as a

installment land contract, also known as an installment sales contract

jeff kase and his wife, caren, have spent two months looking at apartments in los angeles. but every apartment they've seen has been too expensive, or too tiny, or too rodent-infested. When jeff is driving home from work one day, he sees a "for rent" sign in front of an apartment complex in a nice neighborhood. He uses his cell to call the number on the sign, and the landlord happens to live upstairs, and can show jeff the apartment immediately. The good news is, jeff loves it and the landlord says he can hold it with a deposit until jeff's wife can see it. The bad news is that caren is out of town until the next evening, so that's the earliest she can see it. The landlord tells jeff that, unfortunately, the lease agreements for all his properties specify that lease deposits are "nonrefundable" Which of the following statements is true of this situation?

it is illegal for rental security deposits in california to be labeled as "nonrefundable," under any circumstances.

which of the following statements is not applicable to the transfer disclosure statement, set forth under civil code section 1102.3?

it must be given to the prospective buyer 7 days after the deposit receipt is signed

which of the following is NOT considered one of the basic types of common interest developments?

mobile home parks

which of the following statements is true regarding security instruments used in california?

mortgages are rare in california, because they tend to favor the borrower over the lender

which of these private properties might be exempt from the governmental use of eminent domain?

no private property is exempt from this government power

johnson bailey and kailey clark"s corporation, Bailey-clark financial, is branching out into the field of escrow handling. They know the corporation must be licensed by the state of california. There are a total of 5 officers, trustees, and other employees who will have access to the money or negotiable securities in the possession of the corporate license, and have furnished a bond of indemnification against loss. Has the corporation fulfilled all necessary licensing requirements to work in escrow handling?

no, they must also meet the requirements in answers a and b, in addition, the corporation must furnish a surety bond in the amount of $25,000.00, or more, based upon yearly average trust fund obligations

two years after elicia jolie moves into her first home, a cozy tow-bedroom near lake tahoe, she decides to buy all new kitchen appliances. her brother, Jake jolie, is the owner of JJ's appliances and more, and he gets her some great deals on beautiful stainless-steel floor models. The appliances themselves are free-standing and moveable, with the exception of the built-in microwave over her new stove. She has new cabinets built around the appliances to accent the new look. When it comes time for Elicia to move, which of the following will be considered her personal property, which she may move with her?

only the unattached appliances that are free standing

which of the following statements is NOT accurate about the california disclosure regarding real estate agency relationship forum

california law does not require that all real estate agents provide a written disclosure to the buyer or the seller

one appraisal principle of value is based on the concept that the more a property or it's components are in harmony with the surrounding properties or components, the greater the contributory value. In other words, the more properties are alike, the more they retain value. This is known as

conformity

appraiser Louis finds a property located in the same neighborhood as the appraised property, and wants to use it as a comparable sale. The comparable has more bedrooms than the subject, one less bath, and one less garage. The appraiser will have to subtract the extra bedrooms from the comparable, add a bathroom to the comparable, and add a garage to make the properties equal. What type of approach to value has louis utilized?

cost approach

which of the following is a type of functional obsolescence?

outmoded plumbing fixtures or inadequate closet space

throughout california, there are agencies within the city/county government whose employees include professionally trained planners. These agencies are known as

planning departments

the right of the state to enact and enforce laws for the order, safety, health, morals, and general welfare of the public is known as

police power

california real estate lenders are divided into 3 major categories. which of the following is not one of these categories?

depository institutions

which type of leasehold estate has a definite beginning and ending date?

estate for years

examinees and twin brothers george and grover gripenstein would argue over the color of the sky on a sunny day. Surprisingly, they've both chosen to pursue a career in real estate and have completed their respective pre-license educational requirements. They decide to study for the exam together, but this causes more disagreements. Their current argument is over the characteristics of land. Which of the following is correct?

george's insistence that there are five economic characteristics of land, and they demand, situs, scarcity, transferability, and utility

Which of following are not considered trust funds?

All of the Above: Real Estate Commissions General Operating Funds Rents and Deposits from Broker-Owned Real Estate

Which of the following is NOT a type of water rights?

Alluvial plain, which relate to delta areas along rivers

Which is not a form of syndication?

An Equity Trust

Anthony is adding a new deck to his home. He has obtained all the necessary building permits to construct his new deck. Anthony's neighbor, Steve, informed him he has to have a California State Contractor's License to even work on his own property. Anthony says that Steve is wrong. Who is right in this situation?

Anthony is correct. Anyone who does the business of a contractor must be licensed. Unless the property owner is planning to sell the finished real estate project, he doesn't not need a license to work on his own property.

Agent Simpson tells residents of a neighborhood minorities are moving into the neighborhood and property values are sure to plummet. Resale values will suffer, the neighborhood will deteriorate, and, if they don't sell their homes now, they will lose money. What form of illegal discrimination is Agent Simpson practicing

Blockbusting

Lois is selling her needlework shop to Simon. Simon is also purchasing the name of the business from Lois, all of the fixtures, and the inventory. Lois is essentially handing over the entire business, from top to bottom to Simon, who is planning to continue what she had started. What are the essential elements of this business opportunity sale?

Both A and B: A Bill of Sale Financial Statements

Ramon did not pass his licensing examination. He didn't think it was a possibility to fail and doesn't know what to do to re-take the test. Ramon is not even sure he is allowed to take the examination a second time. What are Ramon's options?

Both A and B: Ramon may take the examination as many times as he needs. He need only reapply to re-take the examination. Ramon must pay the examination fee if he is to re-take the examination.

Janice has given her broker an earnest money deposit check with written instructions to hold the check until the seller has accepted her offer. Her broker follows instructions and informs the seller, through a telephone conversation with the seller's agent after the initial offer was presented, the buyer's check is being held awaiting offer acceptance. Did Janice's broker handle this situation correctly?

Both A and C: No, the broker must inform the seller in writing the buyer's check is being held until acceptance of the offer. No, the broker must inform the seller of the buyer's check being held at the exact time the actual offer is presented.

In studying for her real estate license, Elise is reading about police power. She is confused and doesn't understand why law enforcement would have any role in real estate sales, transactions and regulations. What does the term "police power" refer to in real estate?

Both A and C: The constitutional right of the government to regulate private activity to promote the general safety, health and welfare of society. Police power controls and directs land use regarding subdivisions.

Agent Peters has qualified buyers to purchase a new home. Now he needs to qualify the property they wish to buy. He understands the human qualification process. Can you help Agent Peters with steps to qualify the property?

Both A and C: Type of property and area zoning Value range and condition

Which of the following statements concerning real and personal property is true?

Both B and C: A trade fixture is personal property, and can be removed by the tenant any time before the end of the lease term. Annexation changes personal property to real property; severance changes real property to personal property.

Georgina sat for the examination about two weeks ago. She believes she passed with flying colors and checks her mail immediately upon arrival home for her results. Today, they arrived and as she opened the envelope, she saw her test score. Did Georgina pass or fail?

Georgina failed the exam. The exam is qualifying by nature and if you pass, you pass; your score is irrelevant and is not revealed.

Patrice and Cornell are completing a sales contract with Mary, their agent. The sales contract used at Mary's brokerage is preprinted. Mary, as a senior agent, has the authority to waive one of the brokerage's fees. The fee is explained and preprinted on the contract. Mary simply crosses it out, writes "waived" and both parties initial. Which overrules the other? The preprinted or handwritten portions of the contract?

Handwritten portions of real estate contracts always supersede preprinted forms.

Throughout California, there are agencies within the city/county government whose employees include professionally trained planners. These agencies are known as: ????

Housing commissions. Planning departments. Planning boards of supervisors. Building Officials Conference of America commissions.

Alison Skateland, a real estate broker in Yuba City, California, has recently become interested in the sale of business opportunities -- particularly restaurants and bakeries. The authority to conduct such business is covered under her real estate license, but Alison does need to know the proper way to handle such transactions. Which of the following is NOT an accurate statement about the handling of business opportunities? ?????

If real property is involved in the sale, the broker (Alison, in this case) usually treats the sale of the business and sale of the land/building as two separate and concurrent transactions with two concurrent and contingent escrows. The sale of business opportunities may involve the sale of only personal property. Alison, in dealing with the sale of business opportunities, must remember to inform the purchaser of the various governmental agencies that the purchaser should contact for required permits, licenses, and clearances. These agencies include the IRS, State Board of Equalization, State Department of Benefit Payments, State Department of Industrial Relations, and various other county and municipal agencies. The sale of a business opportunity includes the business's stock, trade fixtures, and trade name, a competition agreement, and lease assignment. While such a sale also includes the goodwill of a business, a monetary value cannot be placed on the goodwill.

When is a real estate licensee considered a creditor?

If the licensee routinely assists sellers in determining whether a proposed buyer in a land contract or purchase-money mortgage is creditworthy.

Bob leased an apartment for three years from the Steiners. He was never late on his rent in those three years, kept the apartment immaculate, and never caused a moment of trouble. He has recently purchased his first home and moved out of the apartment. As expected, Bob gave the Steiners sixty days' notice he would be moving and left the apartment in perfect condition. It has been 45 days since he moved out and he's been watching for his security deposit refund to purchase a new sofa. When should he expect his security deposit refunded?

If there had been no damage or cleaning required, which seemed highly unlikely in Bob's case, the landlord should have refunded his security deposit within 21 days of Bob's vacating the property.

Which of the following liens is both general, involuntary, and statutory? Which lien is specific, voluntary, and equitable?

Income Tax Lien; Mortgage Lien

The Federal Reserve needs to tighten the economy. Which of the following actions would NOT act to achieve this purpose? ????

Increasing discount rates. Raising the reserve requirement. Decreasing discount rates. Selling securities.

Katie and Rich own a rental home, and they have placed it on the market themselves as a For Sale By Owner property ("FSBO"). They've noticed an unidentified woman accompanying several potential buyers as they are viewing their property. Katie and Rich discover she is a broker that has been "showing" the property on the sly without their permission. Instead of fighting this aggressive broker, they allow her to continue to show their property. Which of the following types of agency has more than likely been created between these parties?

Ostensible Agency

In 1980, an important piece of environmental legislation was passed. This legislation established a fund called the Superfund, to clean up uncontrolled hazardous waste sites and to respond to spills, and it also created a process for identifying potential responsible parties (PRPs) and ordering them to take responsibility for the cleanup action. What was the name of this law? ????

The Hazardous Waste Act, or HWA. The Comprehensive Environmental Response, Compensation, and Liability Act, or CERCLA. The California Environmental Protection Agency Act, or CEPAA. The Uniform Commercial Code Act, or UCCA.

The Western Acres neighborhood is a highly desirable area in which homes very seldom go on the market. The Western Acres properties placed on the market sell very quickly and usually for or above asking price. Which principle of real estate applies to the homes in Western Acres?

The Law of Supply and Demand

Janet is a broker who negotiates a number of loans to specific subdivisions. Last year, she took part in 27 loans to homeowners in one subdivision. Due to this large number of loans to a subdivision, Janet has to report loan activities to the California BRE. What is the name of this reporting process, how often does it take place, and what is an additional requirement for making these reports?

The annual and quarterly process is Threshold Reporting. Additionally, if a broker negotiates more than $1,000,000.00 in loans annually, he/she must take part in Threshold Reporting.

The regulations regarding both advertising and doing real estate business over the internet have been set forth in:

The commission's regulations

What is the major difference between an Estate for Years and an Estate from Period to Period?

The major difference is in an Estate from Period to Period, the tenant must give notice to vacate, whereas in an Estate for Years, there is no need to give any notice.

An undeveloped acre of land sits in the middle of a secluded rural community. How many separate owners could this acre have?

Three owners: One could own the subsurface rights, one the surface rights, and another the air rights.

Which of the following is not a goal of a real estate appraiser?

To determine the marketability of a property.

Tracy and Darnell are buying a home. They have a 15% down payment and have qualified for a thirty year fixed rate mortgage. Will Tracy and Darnell have to pay PMI?

Yes, private mortgage insurance is required for all loans with less than 20% down payment.

in 2013, jack and shirley wright moved from riverside, in southern california, up to santa clara, in northern california, when jack's company opened a new branch office there. They decided to rent for a while so they could get to know the area before buying a home. Three weeks ago, they found and put a contract on a lovely 3-bedroom ranch, and the sellers accepted the first offer. They took that as a good sign, but now it's only 5 days until the close of escrow and they still haven't signed the escrow papers yet. In fact, they aren't due to sign the escrow papers until the day before the actual close of escrow. The Wrights are under the impression that something is wrong, because when they sold their last home, the escrow instructions had to be signed by both parties to the transaction immediately after they all signed the purchase agreement--about 60 days ahead of the actual close of escrow date. Which of the following is true about the situation?

the escrow practices in southern california differ from those in northern california. In southern california, the escrow instructions are signed by the buyer and seller shortly after they've signed the purchase agreement, just after the start of escorw, which is about 60 days prior to the actual close of escrow. In northern california, the escrow instructions are usually not signed until one or tow days just before the close of escrow.

newlyweds andrew and kimmie briggs enjoy sparring over the details of life. They squabble good-naturedly over a game of Scrabble, the pronunciation of French words, and now, over the type of home loan they're getting on their first home. They know it's FHA, but neither is sure what the FHA has to do with the loan. An FHA loan means:

the money insured by the FHA

both the federal and california governments have the right to take private property for a necessary use, IF they pay the owner "just compensation" for doing so. In addition to the payment of just compensation, if the government takes a property in this way, which of the following rules apply?

the owner must have due process in court

the account that holds all the money collected from license and exam fees, and is used for the operating expenses of the calbre, is known as

the real estate general fund