Questions And Answers
/.Two friends hold title as joint tenants. One borrowed money and executed a deed of
trust against the property. In terms of affecting title this action could: - Answer-✅Place
the beneficiary in a precarious position should the borrower die before the debt is paid.
/.Joint tenant estate held by two joint tenants is severed and ended by the following: -
Answer-✅A foreclosure by one of the joint tenants. One of the joint tenants transfers his
interest to a third party. One of the joint tenants sell his interest.
/.A man owns six seperate parcels of real property. He wants to offer all of the parcels
as security for a mortgage loan. The mortgage that he will obtain will probably be? -
Answer-✅A blanket mortgage
/.All of the following acts of one joint tenant terminates a joint tenancy except when the
joint tenant: - Answer-✅Mortgages his or her share
/.Avulsion - Answer-✅Is the sudden tearing away of land by the the action of water
/.When appraising a home build in 1910 the appraiser must use: - Answer-✅Today's
cost and today's reproduct ion cost
/.The appraiser gives an 30 year old home a rating of 6 years is called: - Answer-
✅Effective age
/.a home painted in 1972, even if the seller repainted
the property a lead based paint booklet is required,
if not, the ommission allows the buyer to: - Answer-✅cancel the transaction.
/.Not funtional obsolescense - - Answer-✅Proximity of nuisances
/.Intestate means: - Answer-✅Someone that left no will
/.A principle may request an accounting from the real estate agent of his funds : -
Answer-✅At any time
/.The seller's responsibility is to transfer the property: - Answer-✅Free and clear
/.When compare to real estate, stocks and bonds are: - Answer-✅More liquid
, /.Which of the following are liens? - Answer-✅Incometax
Judgements
Attachment
/.subagents: - Answer-✅They work for the seller
/.If a builder pays $35 an hour to a hostess, to perform an open
house, to answer questions: - Answer-✅a license is required to answer questions
/.Who must disclose Mello - Answer-✅Seller (OWNER)
/.if the electrical was intalled by the son-in-law of the seller,
and not to code and the buyer moves in, and after, the
property catches on fire : - Answer-✅the real estate agent is innocent of any wrong
doing
/.Miles sold a home to North with the help of Olsten, if the buyer (North) finds out that
something was not properly disclose by Miles and Olsten, this is called: - Answer-
✅Fraud
/.Logan sold a home to Hughes, if Hughes backs out: - Answer-✅Logan can sue for a
specific performance
/.A buyer pays for which of the following? - Answer-✅Escrow, Title, Insurance
/.The granting of doing business or to sell a product under a name with restrictions from
the grantor is called: - Answer-✅Franchise
/.Agents may get sued for: - Answer-✅Any Wrong doing
/.A person who is delegated in an intrument to legally do something for another person
in his stead is called - Answer-✅Attorney in fact
/.The terms of exclusive right to sell listing are - Answer-✅The exact requirements of
the sellers instructions
/.An advertisement to lease properties only to married couple is - Answer-✅Illegal
/.The offers must be presented: - Answer-✅even if they are oral and in writing
/.Intangible personal property: - Answer-✅is not taxible
/.The real estate commissioner" - Answer-✅Promulgates the real estate law