3/10/25, 1:28 PM CA Real Estate State Exam Crash Course Flashcards | Quizlet
Scheduled maintenance: March 11, 2025 from 06:00 AM to 07:00 AM
CA Real Estate State Exam Crash Course Save
5.0 (4 reviews)
Students also studied
Flashcard sets Study guides
CA Real Estate Exam 2024 Practice ... CA Real Estate Exam 2023 HEALTH LAW Exam 2 Section
175 terms 600 terms 37 terms 29 terms
quyenphan2000 Preview dennishenderson3000 Preview oslena7887 Preview rac
Terms in this set (682)
How are ownership rights and interest in C - quiet title action
real property established by way of a court
proceeding? Answer Feedback: A quiet title action is proceeding to establish an individual's right
to ownership of real property against one or more adverse claimants.
A - cloud on title
B - equitable use
C- quiet title action
D - quitclaim
The recording of an instrument gives: D - constructive notice
A - actual notice Answer Feedback: Constructive notice is given by taking physical possession or by
B - passive notice recording an instrument.
C - absolute notice
D - constructive notice
Federal income tax rates on ordinary A - progressive
income are:
Answer Feedback: The more you make, the more you are taxed.
A - progressive
B - equal
C - flat
D - digressive
When title of a property is voluntary C - a gift
transferred without any money
consideration, this would be considered: Answer Feedback: This describes a gift which is the only right choice of a voluntary
transfer without consideration (money).
A - avulsion
B - eminent domain
C - a gift
D - foreclosure
https://quizlet.com/514610474/ca-real-estate-state-exam-crash-course-flash-cards/ 1/22
,3/10/25, 1:28 PM CA Real Estate State Exam Crash Course Flashcards | Quizlet
Who would you contact if you feel your D - Assessment appeals board
property has been over assessed by the
county assessor? Answer Feedback: You would contact this department to plead your case.
A - Local housing council
B - Board of equalization
C - County tax collector
D - Assessment appeals board
A single family home that had an assessed A - supplement tax based on the difference between the old assessed value and the
value that was much lower than the current new assessed value for the remaining fiscal year
market value was sold on November 3rd at
its current market value. What will the new Answer Feedback: When a property is sold for more than the assessed value, the
owners have to pay? new buyer will receive a supplemental tax bill based on the new assessed value.
A - supplement tax based on the difference
between the old assessed value and the
new assessed value for the remaining fiscal
year
B - nothing
C - a prorated amount of tax
D - a flat tax of 10%
An income property owner was figuring B - cost of a fence
out their net income for tax purposes. They
took the gross income and deducted Answer Feedback: A fence is a capital improvement and cannot be deducted as an
certain expenses. What cannot be expense for tax purposes.
deducted?
A - management expenses
B - cost of a fence
C - interest for a loan
D - depreciation
When referring to a building bought for A - loss of rental due to vacancies
income purposes, the owner can deduct all
of the following for income tax purposes, Answer Feedback: Vacancy losses cannot be deducted from income.
except:
A - loss of rental due to vacancies
B - depreciation when the property value
increases
C - interest payments on the second trust
deed
D - cost of repairing the vacant units
A sale leaseback purchaser would be least A - depreciated value of the building
concerned about the:
Answer Feedback: Depreciated value has to do with the adjusted costs basis of the
A - depreciated value of the building building.
B - condition of the improvement
C - location of the property
D - creditworthiness of the tenant
https://quizlet.com/514610474/ca-real-estate-state-exam-crash-course-flash-cards/ 2/22
, 3/10/25, 1:28 PM CA Real Estate State Exam Crash Course Flashcards | Quizlet
Why can a corporation not qualify as a C - It has perpetual existence
"joint tenant" for ownership interest of real
property? Answer Feedback: Corporations don't die and since one of the characteristics of joint
tenancy is the right of survivorship, a corporation owning real property in "joint
A - A corporation can be foreign or tenancy" would be an unfair advantage. Death is a requirement.
domestic
B - Only community property can be held
as joint tenancy
C - It has perpetual existence
D - A corporation has a board of directors
The assessment roll in real property taxes A - The board of supervisors
exists to establish the tax base. Who sets
the county tax rate? Answer Feedback: The board supervisors of each county sets the maximum annual
tax on real property.
A - The board of supervisors
B - The county assessor
C - The state assessor
D - The federal government
Which of the following is not an example of C - the right to tax
police power by the government?
Answer Feedback: Eminent domain requires a payment of just compensation for
A - eminent domain private property. Taking it under the police power (such as zoning) does not require
B - zoning compensation.
C - the right to tax
D - adopt and enforce laws
The Williamson Act was created to: A - preserve agricultural land in California
A - preserve agricultural land in California
B - assist low-income families with down
payment assistance
C - provide appraisers with government
sponsored classes
D - lawfully convict lenders involved in
kickback schemes
The Williamson Act was created in 1965 to A - farmland owners by providing them with lower property taxes
benefit:
A - farmland owners by providing them
with lower property taxes
B - low-income families with down payment
assistance
C - real estate licensees requiring
emergency funds
D - landlords during difficult tenant
evictions
When a licensee acts as a buyer's agent on C - the seller
a home listed by their broker, the broker
has a fiduciary duty to: Answer Feedback: When acting as the buyer's agent on a home that is listed by their
broker, the broker's fiduciary duty is to the seller.
A - the parties involved
B - the buyer
C - the seller
D - the person who writes the check
https://quizlet.com/514610474/ca-real-estate-state-exam-crash-course-flash-cards/ 3/22
Scheduled maintenance: March 11, 2025 from 06:00 AM to 07:00 AM
CA Real Estate State Exam Crash Course Save
5.0 (4 reviews)
Students also studied
Flashcard sets Study guides
CA Real Estate Exam 2024 Practice ... CA Real Estate Exam 2023 HEALTH LAW Exam 2 Section
175 terms 600 terms 37 terms 29 terms
quyenphan2000 Preview dennishenderson3000 Preview oslena7887 Preview rac
Terms in this set (682)
How are ownership rights and interest in C - quiet title action
real property established by way of a court
proceeding? Answer Feedback: A quiet title action is proceeding to establish an individual's right
to ownership of real property against one or more adverse claimants.
A - cloud on title
B - equitable use
C- quiet title action
D - quitclaim
The recording of an instrument gives: D - constructive notice
A - actual notice Answer Feedback: Constructive notice is given by taking physical possession or by
B - passive notice recording an instrument.
C - absolute notice
D - constructive notice
Federal income tax rates on ordinary A - progressive
income are:
Answer Feedback: The more you make, the more you are taxed.
A - progressive
B - equal
C - flat
D - digressive
When title of a property is voluntary C - a gift
transferred without any money
consideration, this would be considered: Answer Feedback: This describes a gift which is the only right choice of a voluntary
transfer without consideration (money).
A - avulsion
B - eminent domain
C - a gift
D - foreclosure
https://quizlet.com/514610474/ca-real-estate-state-exam-crash-course-flash-cards/ 1/22
,3/10/25, 1:28 PM CA Real Estate State Exam Crash Course Flashcards | Quizlet
Who would you contact if you feel your D - Assessment appeals board
property has been over assessed by the
county assessor? Answer Feedback: You would contact this department to plead your case.
A - Local housing council
B - Board of equalization
C - County tax collector
D - Assessment appeals board
A single family home that had an assessed A - supplement tax based on the difference between the old assessed value and the
value that was much lower than the current new assessed value for the remaining fiscal year
market value was sold on November 3rd at
its current market value. What will the new Answer Feedback: When a property is sold for more than the assessed value, the
owners have to pay? new buyer will receive a supplemental tax bill based on the new assessed value.
A - supplement tax based on the difference
between the old assessed value and the
new assessed value for the remaining fiscal
year
B - nothing
C - a prorated amount of tax
D - a flat tax of 10%
An income property owner was figuring B - cost of a fence
out their net income for tax purposes. They
took the gross income and deducted Answer Feedback: A fence is a capital improvement and cannot be deducted as an
certain expenses. What cannot be expense for tax purposes.
deducted?
A - management expenses
B - cost of a fence
C - interest for a loan
D - depreciation
When referring to a building bought for A - loss of rental due to vacancies
income purposes, the owner can deduct all
of the following for income tax purposes, Answer Feedback: Vacancy losses cannot be deducted from income.
except:
A - loss of rental due to vacancies
B - depreciation when the property value
increases
C - interest payments on the second trust
deed
D - cost of repairing the vacant units
A sale leaseback purchaser would be least A - depreciated value of the building
concerned about the:
Answer Feedback: Depreciated value has to do with the adjusted costs basis of the
A - depreciated value of the building building.
B - condition of the improvement
C - location of the property
D - creditworthiness of the tenant
https://quizlet.com/514610474/ca-real-estate-state-exam-crash-course-flash-cards/ 2/22
, 3/10/25, 1:28 PM CA Real Estate State Exam Crash Course Flashcards | Quizlet
Why can a corporation not qualify as a C - It has perpetual existence
"joint tenant" for ownership interest of real
property? Answer Feedback: Corporations don't die and since one of the characteristics of joint
tenancy is the right of survivorship, a corporation owning real property in "joint
A - A corporation can be foreign or tenancy" would be an unfair advantage. Death is a requirement.
domestic
B - Only community property can be held
as joint tenancy
C - It has perpetual existence
D - A corporation has a board of directors
The assessment roll in real property taxes A - The board of supervisors
exists to establish the tax base. Who sets
the county tax rate? Answer Feedback: The board supervisors of each county sets the maximum annual
tax on real property.
A - The board of supervisors
B - The county assessor
C - The state assessor
D - The federal government
Which of the following is not an example of C - the right to tax
police power by the government?
Answer Feedback: Eminent domain requires a payment of just compensation for
A - eminent domain private property. Taking it under the police power (such as zoning) does not require
B - zoning compensation.
C - the right to tax
D - adopt and enforce laws
The Williamson Act was created to: A - preserve agricultural land in California
A - preserve agricultural land in California
B - assist low-income families with down
payment assistance
C - provide appraisers with government
sponsored classes
D - lawfully convict lenders involved in
kickback schemes
The Williamson Act was created in 1965 to A - farmland owners by providing them with lower property taxes
benefit:
A - farmland owners by providing them
with lower property taxes
B - low-income families with down payment
assistance
C - real estate licensees requiring
emergency funds
D - landlords during difficult tenant
evictions
When a licensee acts as a buyer's agent on C - the seller
a home listed by their broker, the broker
has a fiduciary duty to: Answer Feedback: When acting as the buyer's agent on a home that is listed by their
broker, the broker's fiduciary duty is to the seller.
A - the parties involved
B - the buyer
C - the seller
D - the person who writes the check
https://quizlet.com/514610474/ca-real-estate-state-exam-crash-course-flash-cards/ 3/22
