CA Real Estate Salesperson Exam Questions With 100% Correct Answers

CA Real Estate Salesperson Exam Questions With 100% Correct Answers Land - ANSWER- The physical property and any natural objects on it - like trees and bodies of water, often referred to as a "lot', "site", or "parcel". Real estate - ANSWER- generally refers to land with permanent manmade improvements. Real property - ANSWER- refers not only to the land and its improvements, but also the bundle of rights, powers, and privileges ("bundle of rights") that are legally connected to ownership of that land. Transferred by deed. Tangible rights - ANSWER- based on the physical aspects of a property, such as claims to: land, buildings, garages, barn/sheds or other improvements, forests, farmland, vineyards, trees, plant life, floral gardens (with some minor exceptions), fixtures (such as fences, plumbing, etc.). Intangible rights - ANSWER- associated with areas above and below the land surface, access and privileges such as: air rights, water rights, subsurface rights (mineral rights), easements, licenses profits, leases, mortgages. Personal property - ANSWER- refers to property those tangible and moveable, such as furniture and swing sets. Personal property does not include rights to the land and it is transferred by "Bill of Sale." Personal property can become real property when it becomes a permanent fixture of the land. Fixtures - ANSWER- are items that have been permanently attached to real property. Can be pieces of personal property that have been "physically or constructively annexed" to a structure. Tests of a fixture: M-A-R-I-A - Method of attachment, adaptability, Relationship of the parties, Intent, Agreement between the parties. Land characteristics - ANSWER- There are two main characteristics to describe land and land function; physical characteristics and economic characteristics. Physical land characteristcs - ANSWER- Immobility - land cannot be moved in its entirety; Indestructibility - Although land can be damaged by storms or disasters, ultimately, it cannot be destroyed because it continues to change, adjust and develop over time. Non-homogeneity - no two pieces of land are identical. Economic characteristics of land - ANSWER- Scarcity - In some areas, land is considered a rarity, and ownership is even more unlikely. Permanence - Also known as "fixity," permanence refers to the lasting potential of land. Situs - Concept that some locations are more and less valuable. Improvements - Structures and landscaping add value to land. Metes and bounds - ANSWER- A method of describing real property that uses geography and land features with direction and distances to define and describe the boundaries of the land. Rectangular survey system - ANSWER- Traditional method of surveying property and it measures factors such as precise length of line run, natural materials (flora/fauna), and surface and land soil. Government or US public land system - ANSWER- Most commonly used method to survey and spatially identify land or property parcels before designating ownership, whether for sale or transfer. Townships - ANSWER- A survey method that refers to a square unit of land that is six miles on each side. Principal meridians - ANSWER- Method that uses principal meridian line for survey control in a large region, which divides townships between north/south/east/west. Base line and meridian intersections - ANSWER- In CA, there are three base line-meridian intersections that are used for legal descriptions. Base lines run horizontally (east to west) and meridians run vertically (north to south). The three base-line meridian intersections used in CA are: Humboldt Base Line and Meridian (northern part of state), Mt. Diablo Base Line and Meridian (central), San Bernardino Base Line and Meridian (southern). Recorded plat - ANSWER- Also known as the lot and block survey system, this system is used for lots in a variety of areas. Assessor's parcel number (APN) - ANSWER- Also known as an appraisal's account number, a number assigned to parcels of property by the area's jurisdiction for identification and record keeping. U.S. government sections and townships method - ANSWER- utilizes a grid of lines; the horizontal lines are township or tier lines. The vertical lines are called range lines, both lines run in six mile increments. Appurtenant rights - ANSWER- are additional beneficial rights, interests and items associated with land ownership beyond just the physical soil. Riparian rights - ANSWER- refers to a land owner's right to "reasonable use" of water flowing through or abutting the property. When dealing with a navigable body of water, the property owner's boundary will extend to the water's accretion line (edge). Non-navigable body of water, the property owner's boundary will extend to the water's center point. Littoral rights - ANSWER- Refers to a land owner's right to "reasonable use" of the water abutting the property as in lakes and oceans. Accession - ANSWER- Attaining land due to the soil deposited by natural elements such as accretion or alluvial deposit. Title to real property can be acquired this way - the addition to property through the efforts of man or natural forces. Erosion - ANSWER- Natural elements cause a steady decrease in land. Accretion - ANSWER- Deposit of soil by water that results in the steady increase in land. Alluvial - ANSWER- Water shifts alluvium soil resulting in gradual increase of land. Avulsion - ANSWER- Water abruptly changes its course resulting in rapid decrease in land Reliction - ANSWER- Retreat of water causes a steady increase in land. Natural flow doctrine - ANSWER- Riparian owner's use cannot cause the water to diminish in the amount, quality or pace. All riparian owners have the right to have access to the water in its natural state. Doctrine of reasonable use - ANSWER- Each riparian owner is entitled to "reasonable use of the water." Doctrine of prior appropriation - ANSWER- Refers to the water rights that not linked to land ownership. These can be sold and mortgaged as real property. Doctrine of beneficial use - ANSWER- States that the first users of the water have priority, but must use the water in a beneficial manner and within a reasonable time frame. Doctrine of correlative rights - ANSWER- Imposes a limit on landowners regarding their share of the water. Generally, this limit correlates to the amount of land owned by each. Mineral rights - ANSWER- The rights to minerals, such as oil, gas, coal, etc. found beneath property. The law of capture - ANSWER- Liquid minerals are subject to this law which grants the surface owner only the right to legally drill and remove as much oil and gas as possible. Air rights - ANSWER- A property owner is entitled to exclusive use of a "reasonable amount" of airspace above the land which can be conveyed separately. Encumrance - ANSWER- Is a claim or lien on a parcel of real property. Easement - ANSWER- A right granted for a specific use of the land of another, most often related to rights of way or utility (i.e. gas and water) easements for properties that don't abut a public way. Easement in gross - ANSWER- This easement doesn't benefit a specific property, but rather a person or business entity, as in to construct and maintain power lines running through several pieces of property. Express grant - ANSWER- A property owner expressly grants a specific right to use servient land to another. Express reservation - ANSWER- Rather than granting the right to use, the property owner reserves a specific right to use servient land after they sell the property. Easement by implication - ANSWER- An implied easement is created when a buyer can only reach their property by crossing land owned by the person from whom they purchased. Easement by necessity - ANSWER- Granted by court order when a buyer discovers later they can only reach their property by crossing land owned by the person from whom they purchased. Easement by prescription - ANSWER- Granted when land is used "openly and notoriously" for a period of time. Encroachment - ANSWER- A situation in which a structure or fixture is built on another person's property or land, and "encroaches" on their property, often due to poor surveying or incorrectly marked boundary lines. Liens - ANSWER- A form of security granted over an item of property to secure the payment of a debt or obligation. The Clean Air Act - ANSWER- 1970. Aimed at controlling air pollutants produced by industrial companies. The Clean Water Act - ANSWER- 1972. Aimed at controlling water pollution.