Real Estate Exam Questions

WHAT ARE THE THREE LEGAL DESCRIPTIONS OF LAND?

1, LOTS AND BLOCKS 2. US GOVERMENT SURVEY SYSTEM 3. METES AND BOUNDS

RESIDENTIAL PROPERTY INCLUDES HOW MANY DWELLING UNITS...?

1-4 DWELLING UNITS

WHAT ARE THE ELEMENTS OF A VALID CONTRACTS?

1. A LAWFUL OBJECTIVE 2. CONSIDERATION 3. MUTUAL ASSENT

WHAT THREE THINGS IS CONSIDERED AS ASSESSMENT EVENT...?

1. A MAXIMUM INCREASE OF 2% OF THE DOLLAR AMOUNT OF TAXES PAID 2. AT THE PURCHASE OR SALE OF PROPERTY 3. VALUE OF IMPROVEMENTS

WHAT ARE THE THREE EXAMPLES OF A DEBT INSTRUMENTS ...?

1. LEASE 2. NOTE 3. MORTGAGE

WHAT ARE THE TWO PRIMARY TYPES OF ESTATES?

1. LEASEHOLD ESTATE 2 FREEHOLD ESTATE

THIS IS A SECTION OF THE U.S. INTERNAL REVENUE SERVICE CODE THAT ALLOWS INVESTORS TO DEFER CAPITAL GAINS TAXES ON ANY EXCHANGE OF LIKE-KIND PROPERTIES FOR BUISNESS OR INVESTMENT PURPOSES...?

1031 EXCHANGE

1 ACRE IS EQUAL TO HOW MANY SQUARE FEET?

43560 SQUARE FEET

ONE MILE IS EQUAL TO HOW MANY LINEAR FEET?

5280 LINEAR FEET

IS A INDIVIDUAL ACTING AS POWER OF ATTORNEY EXEMPT FROM NEEDING A LICENSE?

A INDIVIDUAL ACTING AS P.O.A. IS EXEMPT FROM NEEDING A LISCENCE

THE PROCESS OF GRADUAL GROWTH OR INCREASE OVER A PERIOD OF TIME WHEN NATURALLY OCCURING EVENTS, RESULTING IN ADDITIONAL LAYERS OF MATTER IS KNOWN AS ...?

ACCERTION

THE POTENTIAL RIGHT OF WONERSHIP TO LAND, WHICH IS PROCURED, THEN ADDED OR UNITED TO THE OWNERS LAND IS KNOWN AS ...?

ACCESSION

A PERSON APPOINTED BY A COURT ADMINISTER THE ESTATE OF ONE WHO HAS DIED INTERSTATE IN KNOWN AS A?

ADMINISTRATOR

SOMETHING WHICH IS OUTSIDE PROPERTY ITSELF BUT BELONGS TO THE LAND AND ADDS TO ITS GREATER ENJOYMENT SUCH AS A RIGHT-OF-WAY, IS KNOWN AS...?

APPURTENCES

A REAL ESTATE SALES CONTRACT IS AN EXAMPLE OF A ...?

BILATERAL CONTRACT

THIS IS KNOWN AS THE USE OF PREJUDICE TO INSTILL FEAR, OR PANIC (ALSO KNOWN AS PANIC SELLING), IN ORDER TO MOTIVATE INDIVIDUALS IN A PARTICULAR AREA OR NEIGHBORHOOD TO SELL OR DISPOSE OF THIER PROPERTY BECAUSE OF THE ENTRANCE, OR POTENTIAL ENTRY OF A PROTECTED CLASS?

BLOCKBUSTING

THE RIGHT OR INTERESTS, THAT AN INDIVIDUAL HAS IN A PARTICULAR PEICE OF PROPERTY IS KNOWN AS?

BUNDLE OF RIGHTS

THIS FEDERAL LAW PROHIBITED ALL DISCRIMINATION ON THE BASES OF RACE ONLY?

CIVIL RIGHTS ACT OF 1866

THIS ACT PROHIBITED DISCRIMINATION ON THE BASIS OF RACE, SEX, NATIONAL ORIGIN, OR GENDER, IN ANY HOUSING PROGRAMS RECIEVING FEDERAL MONEY?

CIVIL RIGHTS ACT OF 1964

TO MINGLE OR MIX, FOR EXAMPLE, A CLIENT'S FUNDS IN THE BROKERS PERSONAL OR GENERAL ACCOUNTS IS KNOWN AS...?

COMMINGLING

THIS INCLUDES FIVE OR MORE UNITS WHEREIN THE OWNER HAS A FEE SIMPLE INTEREST IN THE AIR SPACE, OR FOUR WALLS IN WHICH THEY LIVE OR OCCUP, PLUS COMMON AREAS WHICH ARE OWED AS A TENANCY IN COMMON?

CONDOMINIUM

THE INDEMITY RECOVERABLE BY A PERSON WHO HAS SUSTAINED AN INURY, EITHER IN HIS OR HER PERSON, PROPERTY, OR RELATIVE RIGHTS, THROUGH THE ACT OR DEFAULT OF ANOTHER IS KNOWN AS?

DAMAGES

A WRITTEN INTRUMENT WHICH WHEN PROPERLY EXECUTED AND DELIVERED CONVEYS TITLE TO REAL PROPERTY FROM ONE PERSON TO ANOTHER (GRANTOR TO GRANTEE) IS KNOWN AS?

DEED

THE SUPPLY OF WILLING AND ABLE BUYERS IN THE MARKETPLACE OR LACK THEREOF IS REFERRED TO AS...?

DEMAND

A RIGHT OF THE GOVERMENT TO AQUIRE PROPERTY FOR NESSEDARY PUBLIC USE BY CONDEMNATION IS KNOWN AS...?

EMENINT DOMAIN

THE REVERSION OF THE STATE PROPERTY IN EVENT THE OWNER THEREOF ABANDONS IT OR DIES, WITHOUT LEAVING A WILL AND HAS NO DISTRIBUTEES TO WHOM THE PROPERTY MAY PASS BY LAWFUL DESCENT IS KNOWN AS...?

ESCHEAT

THE DEPOSIT OF INTRUMENT AND/OR FUNDS WITH INTRUCTIONS WITH A THIRD NUETRAL PARTY TO CARRY OUT THE PROVISIONS OF AN AGREEMENT OR CONTRACT IS KNOWN AS...?

ESCROW

A PROPERTY MANAGER IS AN EXAMPLE OF A...?

GENERAL AGENT

WHAT IS THE MOST WIDELY USED DEED IN CALIFORNIA ...?

GRANT DEED

A PERSON WHO RECIEVES TITLE TO A REAL PROPERTY BY DEEDS IS KNOWN AS THE...?

GRANTEE

A PERSON WHO CONVEYS TITLE TO A REAL PROPERTY BY DEEDS IS KNWON AS THE....?

GRANTOR

THIS IS AN APPRASAL PHASE MEANING THAT USE WHICH, AT THE TIME OF AN APPRAISAL, IS MOST LIKELY TO PRODUCE THE GREATEST NET RETURN TO THE LAND AND/OR BUILDING OVER A GIVEN PERIOD OF TIME...?

HIGHEST AND BEST USE

A PERSON WHO ACTS FOR ANOTHER BUT WHO SELLS FINAL RESULTS AND WHOSE METHODS OF ACHIEVING THOSE RESULTS ARE NOT SUBJECT TO THE CONTROL OF ANOTHER IS REFERRING TO AS A...?

INDEPENDANT CONTRACTOR

THIS IS A WRIT OR ORDER ISSUED UNDER THE SEAL OF A COURT TO RESTRAIN ONE OR MORE PARTIES TO A SUIT OR PROCEEDING FROM DOING AN ACT WHICH IS DEEMED TO BE INEQUITABLE OR UNJUST IN REGARD TO THE RIGHT OF SOME OTHER PARTY OR PARTIES IN THE SUIT OR PROCEEDING?

INJUNCTION

A TAX DEED IS A EXAMPLE OF A ...?

INVOLUNTARY DEED

THIS REFERS TO "UNDER-IMPROVED" PROPERTIES SURROUNDING BY PROPERTIES OF GREATER VALUE...?

LAW OF PROGRESSION

A TERM USED IN DECRIBING THE BOUNDRY LINES OF LAND, SEEING FORTH ALL THE BOUNDRY LINES TOGETHER WITH THIER TERMINAL POINTS AND ANGLES IS KNOWN AS...?

METES AND BOUNDS

THIS IS A CONTRACT WHEREBY A MORTGAGOR AGREES TO USE REAL PROPERTY AS SECURITY FOR THE REPAYMENT OF DEBT...?

MORTGAGE

A BANKER WHO ARRANGES A MORTGAGE LOANS BETWEEN A LENDER AND A BORROWER FOR A FEE IS REFERRED TO AS A...?

MORTGAGE BROKER

TITLE TO REAL PROPERTY HELD IN THE NAME OF ONLY ONE PERSON IS KNOWN AS...?

OWNERSHIP IS SEVERALTY

ALL PROPERTY THAT IS NOT CONSIDERED REAL PROPERTY IS CONCIDERED...?

PERSONAL PROPERTY

WINDOW CURTAINS ARE CONSIDERED WHAT KIND OF PROPERTY?

PERSONAL PROPERTY

THIS IS DEFINED AS LAND AND GENERALLY WHATEVER IS ERACTED UPON OR AFFIXED THERETO, INCLUDING BUT NOT LIMITED TO BUILDINGS, STRUCTURES, LANDSCAPING AND FENCES...?

REAL ESTATE

LAND THINGS AFFIXED TO LAND AND APPURTENANCES THAT ARE IMPOVABLE ARE CONSIDERED...?

REAL PROPERTY

THIS IS KNOWN AS THE REFUSAL TO LEND MONEY WITHIN A SPECIFIC AREA?

REDLINING

A COMMON-LAW DOCTRINE THAT MAKES AN EMPLOYER LIABLE FOR THE ACTIONS OF ITS EMPLOYEES WHEN THE ACTIONS TAKE PLACE WHITH IN THE SCOPE OF EMPLOYMENT IS KNOWN AS?

RESPONDEAT SUPERIOR

AN ACTION TO COMPEL PERFORMANCE OF AN AGREEMENT IS KNOWN AS?

SPECIFIC PERFORMANCE

THE DEED GIVEN TO A PURCHASER AT A PUBLIC SALE OF LAND HELD FOR NON-PAYMENT OF TAXES IS KNOWN AS...?

TAX DEED

AN OWNERSHIP OF REALTY BY TWO OR MORE PERSONS, EACH OF WHOM HAS AN UNDIVIDED INTEREST, WITHOUT THE RIGHT OF SURVIVORSHIP IS KNOWN AS...?

TENANCY IN COMMON

A LEGAL OBLIGATION OF ONE PARTY TO A VICTIM AS A RESULT OF A CIVIL WRONG OR INJURY IS REFERRED TO AS...?

TORT LIABILITY

REMOVABLE PERSONAL PROPERTY THAT A TENANT ATTACHED TO LEASED LAND FOR BUISNESS PURPOSES IS KNOWN AS A...?

TRADE FIXTURE

A CONDOMINIUM IS CONCIDERED REAL PROPERTY...? TRUE OR FALSE.

TRUE

THE ABILITY TO GIVE SATISFACTION AND/OR EXCITE DESIRE FOR POSSESSION IS KNOWN AS...?

UTILITY

THE DIVISION OF A AREA INTO ZONES, AS TO RESTRICT THE NUMBER AND TYPES OF BUILDINGS AND THIER USES IS KNOWN AS...?

ZONING

WHAT DOES METES AND BOUNDS MEASURE?

distance and direction

ANY RIGHT TO, OR INTERESTSM IN THE LAND INTERFERRING WITH ITS USE OR TRANSFER, OR SUBJECTING IT TO AN OBLIGATION IS KNOWN AS...?

ENCUMBRANCE

PROPERTY OR ESTATE OWNERSHIP THAT REVERTS BACK TO THEE GRANTOR FTER S TERMPORARY OWNERSHIP PERIOD IS KNOWN AS...?

ESTATE IN REVERSION

AN ITEM OF PERSONAL PROPERTY AFTER BEING ATTACHED TO REAL PROPERTY IS KNOWN AS...?

FIXTURE

A NON-FREEHOLD ESTATE OF LIMITED DURATION, PROVIDING THE RIGHT OF POSSESSION AND CONTROL, BUT NOT TITLE IS REFERRED TO AS A..?

LEASEHOLD ESTATE

WHICH CATEGORY OF TOPICS ACCOUNTS FOR THE MOST NUMBER OF QUESTIONS ON THE STATE EXAM...?

PRACTICE OF REAL ESTATE AND DISCLOSURES

THIS IS AN ITEM OF REMOVABLE PERSONAL PROPERTY THAT A TENENT ATTACHED TO LEASED LAND FOR BUISNESS PURPOSES...?

TRADE FIXTURE

THE BUNDLE OF RIGHTS INCLUDE WHAT THREE THINGS?

1. THE RIGHT TO POSESS 2. THE TIGHT TO ENCUMBER 3. THE RIGHT TO QUIET ENJOYMENT

A LOAN WHEREBY THERE IS NO GOVERMENT PARTICIPATION OR COOPERATING IS KNOWN AS A?

CONVENTIONAL LOAN

THE EATING AWAY OF A COASTLINE OR LAND BY THE ACTION OF WATER, ICE OR/AND WIND, OR WEARING AWAY OF A SURFACE BY CORRUSION OR TRAFFIC IS KNOWN AS...?

EROSION

The rights of a land owner or land occupier to use flowing water (such as a river) that is adjacent to the land are known as...?

RIPARIAN RIGHTS

REGULAR INSURANCE COVERAGE DOES NOT COVER UNRECORDED CLAIMS...? TRUE OR FALSE.

TRUE

ZONING IS An EXAMPLE OF POLICE POWER? TRUE OR FALSE.

TRUE

THE AUTHORIZATION TO IMPROVE OR DEVELOP A PARTICULAR PROPERTY IN A MANNER NOT AUTHORIZED BY ZONING IS KNOWN AS...?

VARIANCE

A DEAL TO RELINQUISH ANY INTEREST IN PROPERTY WITH THE GRANTOR WITH OUT INTERFERANCE OF PROSSESSION IS KNOWN AS A...?

WARRENTY DEED

THE RIGHTS OF THE LANDOWNER OR/AND LAND OCCUPIER TO USE ADJACENT BODIES OF WATER IN A REASONABLE FASHION ARE KNOWN AS...?

WATER RIGHTS

LOTS THAT TOUCH AT ANY POINT ARE KNOWN AS...?

CONTIGOUS

AN ESTATE WHICH REST AFTER THE TERMINATION OF THE PRIOR ESTATE IS KNOWN AS..?

ESTATE IN REMAINDER

CONTINUEING EDUCTION IS REQUIRED FOR ALL REAL ESTATE AGENTS IN CALIFORNIA EVERY HOW MANY YEARS?

FOUR YEARS

WHAT ARE THE ELEMENTS USED TO DETERMINE IF SOMETHING IS A FICTURE OR REAL PROPERTY...?

1. THE METHOD OF ATTACHMENT 2. THE RELATIONSHIP OF THE PARTIES TO THE OBJECT 3. THE INTENTIONS OF THE PARTIES

WHAT ARE THE THREE APPROACHES USED BY APPRAISERS TO VALUE PROPERTY...?

COST APPROACH, INCOME APPROACH, SALES COMPARISON APPROACH

UNDIVIDED OWNERSHIP OF A PROPERTY INTEREST BY TWO OR MORE PERSONS EACH OF WHOM HAS A RIGHT TO AN EQUAL SHARE IN THE INTEREST AND A RIGHT OF SURVIVORSHIP IS KNOWN AS...?

JOINT TENACY

A FREEHOLD ESTATE CREATED FOR THE DURATION OF THE LIFE OR LIVES OF CERTAIN NAMED PERSONS IS KNOWN AS A...?

LIFE ESTATE

THE MARKETPLACE WHEREBY THE LOANS THAT WERE ORIGINATED IN THE PRIMARY MORTGAGE MARKET ARE BROUGHT AND SOLD IS KNOWN AS THE...?

SECONDARY MORTGAGE MARKET

A STATE LAW REQUIRING CERTAIN CONTRACTS TO BE IN WRITING AND SIGNED BEFORE THEY WILL BE ENFORCED AT LAW IS KNOWN AS?

STATUETE OF FRAUDS

LEASES UNDER ONE YEAR MUST BE IN WRITTING? TRUE OR FALSE.

FALSE

THE COMMISSION OWED TO THE BROKER IN A TRASNACTION IS DETERMINED IN WHAT DOCUMENT?

LISTING AGREEMENT

THE SBILITY TO SUE FOR THE ENFORCEMENT OF THE CONTRACT IS KNOWN AS ?

ENFORCEABILITY

lEGAL PROCEEDING BY A LESSOR LANDLORD TO RECOVER POSSESION OF REAL PROPERTY IS KNOWN AS...?

EVICTION

A PERSON OR INSTITUTION APPOINTED BY A TESTOR TO CARRY OUT THE TERMS OF THIER WILL IS KNOWN AS A...?

EXECUTOR

AN ESTATE THAT WILL END AUTOMATICALLY WHICH THE STATED EVENT OR CONDITION OCCURS IS KNOWN AS...?

FEE SIMPLE DETERMINABLE

ABSOLUTE OWNERSHIP OF REAL PROPERTY IS ALSO KNOWN AS A ...?

FEE SIMPLE ESTATE

THAT DUTY OWED BY AN AGENT TO ACT IN THE HIGHEST GOOD FAITH TOWARDS THE PRINCIBAL AND NOT TO OBTAIN ANY ADVANTAGE OVER THE LATTER BY THE SLIGHTEST MISREPRESENTATION, CONCEALMENT, DURESS, PRESSURE IS KNOWN AS...?

FIDUCIARY DUTIES

THIS IS A ITEM OF PERSONAL PROPERTY THAT HAS BEEN ATTACHED TO REAL PROPERTY...?

FIXTURE

THE LINEAR DISTANCE ALONG WHICH A BUILDING FACES A LOT LINE OR A ROADWAY IS KNOWN AS?

FOOTAGE

WHEN TWO OR MORE NATURAL PERSONS OWN PROPERTY THAT COMES WITH A SPECIAL BENIFIT CALLED THE RIGHT OF SURVIVORSHIP, IT IS REFFERED TO AS A....?

JOINT TENANCY

THIS IS DEFINED AS THE SOIL, EARTH AND GROUND, WHICH IS A RESULT OF NATURE OR MAN MADE, AS WELL AS AN INDEFINATE EXTENT UPWARD INTO THE AIR, AND DOWNWARD IN A DIRECT LINE FROM THE SURFACE TO THE CENTER OF THE EARTH...?

LAND

THIS REFERS TO WHEN A PROPERTY IS "OVER IMPROVED" RELATIVE TO OTHER SURROUNDING PROPERTIES IN THE AREA THAT ARE OF LESSER VALUE...?

LAW OF REGRESSIION

THE RIGHT OF A PROPERTY OWNER WHOSE LAND BOARDERS ON A BODY OF WATER, SUCH AS A LAKE, OCEAN OR SEA, TO REASONABLE USE AND ENJOYMENT OF THE SHORE AND WATER THE PROPERTY BOARDERS ON IS KNOWN AS...?

LITTORIAL RIGHTS

THE RIGHT OF ANY POTITAL BODY TO ENACT LAWS AND ENFORCE THEM, FOR ODER, SAFETY, HEALTH, MORALS, AND GENERAL WELFARE OF THE BUBLIC IS KNOWN AS...?

POLICE POWER

THE AUTHORITY TO ACT FOR ANOTHER PERSON IN SPECIFIED OR ALL LEGAL OR FINANCIAL MATTER IS KNOWN AS...?

POWER OF ATTORNEY

THE MARKETPLACE WHEREBY LOANS ARE ORIGNIATED IS REFERED TO AS THE...?

PRIMARY MORTGAGE MARKET

THIS PRINCIBLE AFFIRMS THAT VALUE IS CREATED BY ANTICIPATED BENIFITS TO BE DERIVED IN THE FUTURE...?

PRINCIBLE OF ANTICIPATION

THE OFFICIAL PROVING OF A WILL IS ALSO KNOWN AS?

PROBATE

A LEGAL CHANGE AGAINST REAL ESTATE BY A PUBLIC AUTHORITY TO PAY FOR THE COST OF PUBLIC IMPROVEMENTS SUCH AS STREET LIGHTS, SIDEWALK, AND STREET IMPROVEMENTS IS KNOWN AS A...?

SPECIAL ASSESSMENT

THIS ACCURS WHEN USING RACIAL ETHNICS OR RELIGIOUS CRITERIA IN SUGGESTING, RECOMMENDING, AND/OR INFLUENCING INDIVIDUALS REGARDING LOCATIONS FOR THE PURCHASE OR RENTAL OF A SINGLE RESIDENCE OR RENTAL DWELLING...?

STEERING