CALIFORNIA REAL ESTATE EXAM STUDY QUESTIONS WITH 100% CORRECT ANSWERS|NEWEST 2025|GET A PASS ON YOUR FIRST TRIAL.

In reference to Property Taxes, "basis" or "cost" is - CORRECT ANSWERS️️Purchase price of prop plus cost of improvements. How is a condominium unit owned? - CORRECT ANSWERS️️Separate interest How are common interests in a condo owned? - CORRECT ANSWERS️️Equally in undivided interest Subdivided Land Laws refer to - CORRECT ANSWERS️️Subdivisions of 5+ parcels on 160 acres, regulated marketing & financing, and requires disclosures in public report. How long is a disclosure in public report for Subdivided Land Laws good for? - CORRECT ANSWERS️️5 Years When does a tax year run? - CORRECT ANSWERS️️July 1-June 30 Legally combining smaller, adjacent parcels of land to form a larger parcel. - CORRECT ANSWERS️️Plottage or assemblage Separating large parcels into smaller lots - CORRECT ANSWERS️️Subdividing or separating Amount or size of land being increased by natural forces such as deposits by wind or water. - CORRECT ANSWERS️️Accretion Gradual uncovering of land previously covered by water such as when a stream changes course. - CORRECT ANSWERS️️Reliction The Statute of Limitations in the state of California allows how long to take action? - CORRECT ANSWERS️️4 years The process by which the court may seize real or personal property as security for a satisfaction of monetary judgement. - CORRECT ANSWERS️️Attachment When is a 20-day preliminary notice of a mechanics lien need to be issued? - CORRECT ANSWERS️️20-days after the claimant (contractor) has first furnished labor, services, equipment, or materials. What is the purpose of issuing a preliminary notice of a mechanics lien to a claimant? - CORRECT ANSWERS️️To inform concerned parties that the property may be subject to liens arising out of contract. What is the brokers relationship to the customer? - CORRECT ANSWERS️️The broker is the agent to the customer (customer employs the broker). What is the agents (salesperson) relationship to the broker? - CORRECT ANSWERS️️The salesperson is the agent to the broker (the broker gives the salesperson authority to act on his/her behalf). A Home Equity Line of Credit is - CORRECT ANSWERS️️An Open Ended Mortgage An Open Ended Mortgage is - CORRECT ANSWERS️️A type of note that permits the borrower to obtain more money at a future date under the same deed of trust. Zoning is an example of - CORRECT ANSWERS️️Police power Local jurisdictions have the authority to divide land into districts and impose land use regulations to promote health, safety, and welfare of the public--this is known as - CORRECT ANSWERS️️Zoning When can restrictions placed on a deed be removed? - CORRECT ANSWERS️️Never What is the only restriction placed on a deed that is considered illegal? - CORRECT ANSWERS️️Race restrictions Is an option contract bilateral or unilateral? - CORRECT ANSWERS️️Unilateral What does an option contract NOT do? - CORRECT ANSWERS️️Create a legal interest in a property If a buyer has defaulted on on an original land contract which had been recorded, this would result in a defective title, requiring legal action to clear the title. This is called - CORRECT ANSWERS️️a Quiet Title Action. A promise is also known as a - CORRECT ANSWERS️️Covenant A court action is mandatory to evict a delinquent tenant. This process is called - CORRECT ANSWERS️️Unlawful Detainer A verbal contract is considered - CORRECT ANSWERS️️Valid California Statute of Frauds require a real estate agreement to be - CORRECT ANSWERS️️In writing What kind of listing agreement offers a listing broker to receive a commission regardless of who is the "procuring" cause? Is also considered the greatest protection for the agent. - CORRECT ANSWERS️️Exclusive right to sell What does a deed NOT need to be considered valid? - CORRECT ANSWERS️️A date A valid deed must have 3 components - CORRECT ANSWERS️️Be in writing, be signed by the grantor, and delivered to the grantee For a deed to be recorded, it must - CORRECT ANSWERS️️Be acknowledged (notarized) A chattel - CORRECT ANSWERS️️Is most accurately described as personal property Which is NOT corporeal property? A fee simple estate, a leasehold, an easement, or a fixture? - CORRECT ANSWERS️️An easement