California Real Estate Salesperson Exam Prep (Q&As)
Latest Update 2023
When agent Andy took a listing, he promised the seller that he would
advertise the property in a magazine until it was sold. Andy told the seller he
submitted the ad, but the magazine said Andy never contacted them or
submitted the ad. Andy is guilty of: - correct answers ✅Actual Fraud
A fee simple estate is: - correct answers ✅an estate of inheritance.
If an appraiser is appraising a special purpose property he would probably
use the: - correct answers ✅Cost Approach
The main purpose of "RESPA" (Real Estate Settlement Procedures Act) is to: -
correct answers ✅To provide consumers with enough information to
enable them to shop for settlement services
Definitions of market value is least concerned with: - correct answers
✅Market cost
What type if an appraisal license is required to appraise a commercial strip
mall valued at $700,000: - correct answers ✅Certified general license;
, California Real Estate Salesperson Exam Prep (Q&As)
Latest Update 2023
Property taxes are described as "ad valorem" taxes. "Ad valorem" most
nearly means - correct answers ✅According to value;
In order to comply with the regulations of the state Housing Law, a person
should seek the issuance of a building permit from: - correct answers ✅the
local Department of Building and Safety
One of the main benefits of a sale-leaseback transaction would be; - correct
answers ✅The ability of the seller to deduct al of his future rent payments
as business expenditures
A broker who holds a valid listing on a property places a classified ad for the
property containing only the following information "For Sale: 3 bedroom, 2
bath home with swimming pool. Asking price $165,000. Telephone 555-
9276". This type of advertisement would be an example of a: - correct
answers ✅Blind ad
A property owner lists his property for sale with a broker. During the
negotiations, the owner told the broker that the owner wanted $138,000 for
Latest Update 2023
When agent Andy took a listing, he promised the seller that he would
advertise the property in a magazine until it was sold. Andy told the seller he
submitted the ad, but the magazine said Andy never contacted them or
submitted the ad. Andy is guilty of: - correct answers ✅Actual Fraud
A fee simple estate is: - correct answers ✅an estate of inheritance.
If an appraiser is appraising a special purpose property he would probably
use the: - correct answers ✅Cost Approach
The main purpose of "RESPA" (Real Estate Settlement Procedures Act) is to: -
correct answers ✅To provide consumers with enough information to
enable them to shop for settlement services
Definitions of market value is least concerned with: - correct answers
✅Market cost
What type if an appraisal license is required to appraise a commercial strip
mall valued at $700,000: - correct answers ✅Certified general license;
, California Real Estate Salesperson Exam Prep (Q&As)
Latest Update 2023
Property taxes are described as "ad valorem" taxes. "Ad valorem" most
nearly means - correct answers ✅According to value;
In order to comply with the regulations of the state Housing Law, a person
should seek the issuance of a building permit from: - correct answers ✅the
local Department of Building and Safety
One of the main benefits of a sale-leaseback transaction would be; - correct
answers ✅The ability of the seller to deduct al of his future rent payments
as business expenditures
A broker who holds a valid listing on a property places a classified ad for the
property containing only the following information "For Sale: 3 bedroom, 2
bath home with swimming pool. Asking price $165,000. Telephone 555-
9276". This type of advertisement would be an example of a: - correct
answers ✅Blind ad
A property owner lists his property for sale with a broker. During the
negotiations, the owner told the broker that the owner wanted $138,000 for
