CA Real Estate Salesperson Exam Questions With All Correct Answers

CA Real Estate Salesperson Exam Questions With All Correct Answers T/F? Brokers can designate any licensee to act as a branch office manager? - ANSWER- False - the designated licensee must have at least 2 years full time real estate experience during the last 5 years. June has worked with buyers and sellers for years. When homeowners default on their mortgage, June acts as trustee for the deed of trust. Under the deed of trust, June has the authority to sell the property. Does June have a real estate license? A. If she receives compensation for performing this activity, she must have a real estate license. B. No, trustees selling properties under a deed of trust are exempt from licensure. C. She only needs a real estate license if she is selling her own property. D. Yes, she is selling property for others. She must have a real estate license. - ANSWER- Answer = B → trustees selling properties under a deed of trust are exempt from licensure California licensee Donald has a new listing for the house next door to his. He's never had problems with these neighbors and hopes to keep it this way by making sure the "right" people move in. He doesn't show the property to any prospective buyers with children. These actions soon bring complaints of a fair housing violation. What effect does this have on Robert (Donald's sponsoring broker)? A. Neither Robert nor Donald will be affected by the fair housing violation. B. Only Robert is liable for Donald's actions, and he alone will be sanctioned as a result of Donald's fair housing violation C. Robert is liable for Donald's actions and could be sanctioned along with Donald as a result of Donald's fair housing violation. D. Robert is not liable for Donald's actions and is not affected by the fair housing violation. - ANSWER- C If Sima entered a plea of no contest in a criminal case she ______. A. Must not report this; as it would be a violation of confidential information B. Must report this to California DRE only if the charge is related to theft C. Must report this to California DRE under all circumstances D. Need not report this to California DRE because it is not a guilty verdict - ANSWER- C Physical characteristics of land include its immobility, indestructibility, and ______. A. Location B. Permanence of investment C. Scarcity D. Uniqueness (nonhomogeneity) - ANSWER- D Tim and Tina Wells bought a home with absolutely beautiful perennial gardens in the back. The plantings were designed to bring birds, bees, and butterflies and to provide color for most of the year. When they did the final walkthrough, they were dismayed to see that many of the shrubs and flowering plants had been removed. They expected these plantings to be considered part of the real property because of the ________. A. Adaptation to the land B. Agreement of the parties C. Intention in placing the item D. Method of annexation - ANSWER- D - The method of annexation—planting in the ground—implies that the plantings were expected to stay with the land. Siblings Julia and Gene are co-owners of a small retail building in which a tanning salon is currently operating. Gene really wants to leave his ownership interest to his son when he dies, but the way in which they own the property doesn't allow him to do so. What type of ownership do they have? A. Joint tenancy B. Tenancy by the entirety C. Tenancy in common D. Tenancy in severalty - ANSWER- A A sole proprietor is a familiar business model. If you practice real estate as a sole proprietor, which of the following is a true statement? A. You are on a salary. B. You cannot be held liable for your actions. C. You have a partner. D. You're an independent contractor. - ANSWER- D Ken, Barbie, and Skipper owned a property as a joint tenancy. When Skipper moved out of state, she sold her interest to Midge. Two years later, Ken died. How is the interest in the property divided? A. Barbie and Midge each own 50%. B. Barbie and Skipper each own 50%. C. Barbie, Midge, and Ken's heirs each own one-third. D. Barbie owns two-thirds, and Midge owns one-third. - ANSWER- D - Joint tenancy includes the right of survivorship, so Ken's interest will pass to the other tenants. But because Midge bought in later than the others, she isn't considered a joint tenant. Ken's share will therefore pass entirely to Barbie. John and Dale are married in San Francisco, and soon purchase a condo. They'll take title to it by default as ______ according to California law. A. Community property B. Joint tenants C. Tenants by the entirety D. Tenants in common - ANSWER- A - California is a community property state, where property acquired during a marriage or domestic partnership is held as community property unless the parties agree otherwise in writing. Ken, Dale, and James are brothers who own more than 100 acres as tenants in common. The relationship between Ken and James disintegrated, and so James initiated a lawsuit. The end result is that the court gave each brother a designated set of acres to own. What was granted by the court? A. Bifurcation B. Parcel C. Partition D. Severalty - ANSWER- C - Partition is the term used to describe a specific, divided portion of property that's created as part of a co-ownership termination. Lucas, Ivan, Chad, and Trace own a property as joint tenants. After a few years, Ivan sells his interest to Tom (with permission from Lucas, Chad, and Trace). Chad dies intestate but is survived by a wife, Amy. Trace also then passes away but wills his property to Monique. Who owns the property after Trace's death? A. Lucas B. Lucas and Tom C. Lucas, Monique, and Amy D. Lucas, Tom, Amy, and Monique - ANSWER- B Which one of the following types of ownership termination allows each tenant to have a specific, divided portion (partition) of the property exclusively? A. Termination by division B. Termination of co-ownership by partition C. Termination of estate in severalty D. Termination of joint tenancies - ANSWER- B Which of the following describes an estate for an unknown period of time, with either party permitted to terminate the lease by giving notice to the other? A. Estate at will B. Estate for years C. Leasehold estate D. Life estate - ANSWER- A Which form of real property ownership (for owners other than married couples) means there's equal ownership shares with undivided possession rights? A. Joint tenancy B. Tenancy by the entirety C. Tenancy in common D. Tenancy in severalty - ANSWER- A - Joint tenancy provides equal ownership shares with undivided possession rights and requires four ownership unities: time, title, interest, and possession. Joint tenancy includes the right of survivorship. Which of the following is a life estate in a property held by a widower? A. Curtesy B. Dower C. Estate at will D. Remainderman - ANSWER- A - A curtesy is a life estate in a property held by a widower. Eva, Stella, and Lynn own a vacation home two blocks from the beach. Sadly, Stella passed away this winter, and so when summer arrives Eva and Lynn will be sharing the home with Stella's nephew Drew, to whom Stella willed her share of the property. What type of ownership is this? A. Estate in severalty B. Joint tenancy C. Tenancy by the entirety D. Tenancy in common - ANSWER- D Which type of ownership includes the unity of time, title, interest, possession, and marriage, and dissolves to a tenancy in common after a divorce? A. Estate in severalty B. Joint tenancy C. Tenancy by the entirety D. Tenants in common - ANSWER- C