RE 101 Chapters 11-13

If a small unfurnished apartment rents for $800 per month, the maximum security deposit the landlord can ask for is:

$1,600

Sales price $295,000, buyer puts on new 80 percent loan and pays one percent loan fee, $45 tax service fee, $400 tax prorations, $175 structural pest control inspection fee, $20 credit report, $20 recording fees, $910 hazard insurance fee, and a $600 escrow fee. How much will the buyer need to close escrow?

$63,530

The sale price us $800,000. The buyer is to put $200,000 down ad to obtain a new first loan for $500,000 and the seller is to carry back a second loan for $100,000. The documentary transfer tax is:

$880

in an apartment complex, an onsite resident manager is required if there are:

16 or more units

A landlord wants to ask the month-to-month tenant who has occupied the property for six months to leave because the landlord plans to occupy the rental home. Under state law, the landlord must serve the tenant with a(n):

30-day notice

Month to month tenants in a mobile home park can be requested to leave only for specified reasons and must be served with at least a:

60 Day notice

If a tenant has violated the terms of the lease, before the tenant can be evicted, the tenant must be served a:

60 day notice

Urban property cannot be leased for more than:

99 years

The Civil Rights Act of 1968 and 1988 Amendments does not protect against discrimination in housing if a person is:

A current controlled-substance abuser

At the end of the lease, the lessee can purchase the property under agreed terms and the lessor must sell. this is an example of:

A lease with option to buy

A deviation from the established zone requirements is called:

A variance

Which insurance policy requires the title company to make a physical inspection of the property?

ARLTA

On behalf of a buyer and seller, the escrow officer acts as a(n):

Agent

With the approval of all parties, real estate brokers can act as escrow holders in transactions in which they have:

All of the above (the Listing, the buyer, the ownership)

Escrow is a process whereby a neutral third party acts on behalf of the:

All of the above. (buyer, seller, buyer's agent, sellers agent, title company, selling agent and listing agent)

A person cannot refuse to sell a home based on a buyer's

All of the above: Physical handicap, marital status, sex.

Which of the following is an example of government use of police power?

All of the above: Rent controls, building codes, and zoning ordinances.

It is illegal to screen and eliminate potential tenants based on:

All of the above: marital status, sex, sexual orientation, family status, race, color, creed, religion and physical handicap.

The tax service fee is usually paid by the:

Buyer

Most homeowners in California have which type of title insurance policy?

CLTA owner's

The professional designation CPM stands for:

Certified Property Manager

A history of title transfers for a particular parcel of land is a(n):

Chain of title

TRID requires the buyer receive what document three days before closing the loan?

Closing disclosure

For an escrow to be valid, there must be a:

Conditional delivery of transfer documents to a third party

A development where a person individually owns his or her living unit but has an undivided interest with the other owners in the land and common areas is a:

Condominium

Recorded CC&Rs and a homeowner's association are mandatory for a:

Condominium

Which of the following is the best example of a common interest development?

Condominium

Which of the following is a recurring closing cost?

Fire insurance

Ms. Alvarez leases her summer cabin to Mr. Greene for the months of June, July, and August of a designated year. Mr. Greene has an estate:

For Years.

The law that makes it illegal for real estate lenders to redline a neighborhood is the:

Housing Financial Discrimination Act

Which of the following must be licensed to be an escrow holder?

Independent corporation

In a real estate transaction, who decided which escrow company to use?

It is negotiated between the buyer and the seller.

The right of the consumer, within a specified time, to rescind a land purchase contract and receive a full refund applies to new:

Land projects of 50 lots or more.

The interest a tenant has in a real estate is known as a:

Less-than-freehold estate.

The subdivision Map Act is administered by:

Local officials.

Prior to issuing a building permit involving a minor project with little if any environmental damage, the local government may require a(n):

Negative impact report.

The power of eminent domain requires government agencies to:

Pay just compensation for the private property.

Before a developer can sell a lot in a new California subdivision containing five or ore lots, the prospective buyer must receive a copy of the:

Public report.

The buyers closing costs are divided into categories. they are:

Recurring, and nonrecurring costs.

If the real estate commissioner issues a Preliminary Public Report for a subdivision, a developer is allowed to:

Reserve the lots

The law which states that certain leases must be in writing to be enforceable is the

Statute of frauds

A developer from Nevada wishes to sell 300 Las Vegas lots to California residents and open sales offices in Los Angles and San Francisco. The developer need not conform to the:

Subdivision Map Act

A simple lo is split is governed by the:

Subdivision Map Act

A joint protection title policy insures:

The buyer and lender.

A landlord who is uniform in application can refuse to rent based upon all of the following except:

The existence of children

Who decided what title company to use?

This is negotiable between the buyer and the seller.

In Northern California, most escrows are handled by:

Title Companies

An assignment of a lease differs from a sublease in that an assignment:

Transfers liability to the new occupant

Under which lease does the tenant pay rent, property taxes, maintenance, hazard insurance?

Triple net lease

The selling of a 1/2,500 share in a Northern California recreational ranch in an example of a(n):

Undivided interest.

The law that prevents California business including real estate professionals from discriminating when providing real estate services is the:

Unruh Civil Rights Act.

Termination of an escrow can occur:

Upon completion of the sale.

If private deed restrictions allow some use that is prohibited by zoning, the rule is that:

Zoning previals

Most unlawful detainer actions are herd in:

a superior court

A standard title insurance policy insures against:

incompetent parties on record.

Regarding security deposits:

no security deposit can be labeled nonrefundable.

A residential tenant can expect the landlord to make necessary repairs to keep the dwelling habitable. If the landlord does not, the tenant can make repairs and offset the rent up to:

one months rent.

The illegal act of directing potential buyers and tenants to certain neighborhoods is called:

steering

The legal process by which a tenant is evicted is called a(n):

unlawful detainer action.

Assuming the tenant takes possession, in order to be valid, a lease for thirteen months must contain:

written terms