Real Estate Principles Quiz
Study online at https://quizlet.com/_8gui59
1. The homestead exemption applies to owner occupied dwellings that include
which of the following?
A. Any of these
B. House and land including condominiums
C. Mobile home and land
D. Boat: A. Any of these
2. A license to act as an escrow agent can be held only by a
A. corporation
B. partnership
C. trust company
D. limited liability company: A. Corporation
3. In a township, the section north of Section 10 is
A. Section 3
B. Section 7
C. Section 12
D. Section 22: A. Section 3
4. A real estate brokerage can operate as
A. any of these
B. sole proprietorship
C. corporation
D. partnership: A. Any of these
5. A planned development consists of
A. individually owned properties with no common area
B. individually owned parcels as well as areas owned in common
C. exclusive ownership of the airspace in a particular unit plus an interest in
common in the land and structure
D. Stock in a corporation that holds title to the property and a right of exclusive
occupancy in a particular unit.: B. individually owned parcels as well as areas owned in common
6. In every agency relationship there are
A. a principal, an agent, and a third person
B. an agent, a subagent, and a customer
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C. a dual agent, a third party, and a broker.
D. a broker, a salesperson, and a client: A. a principal, an agent, and a third person
7. For a federally related residential mortgage loan, the lender must give the
borrower
A. a transfer disclosure statement form
B. an agency disclosure
C. a copy of the completed loan application
D. the Closing Disclosure form: D. the Closing Disclosure form
8. When a salesperson changes employment from one broker to another, the
old/new employing broker must?
A. the new employing broker doesn't have to do anything
B. the salesperson must send his license certificate to Sacramento
C. the salesperson must immediately file a certified written statement of why
he or she left
D. the former employing broker must notify CalBRE immediately, in writing.: D.
the former employing broker must notify CalBRE immediately, in writing.
9. Zoning is a law or ordinance specifying the possible uses of property imposed
by
A. state government
B. city or county government
C. federal government
D. any of these: B. City or county government
10. A man and a woman have two adjoining parcels of land. The man gives the
woman a written, revocable, nonexclusive right to cross over his land as a short
cut to his rear yard. What is this right called?
A. license
B. Prescriptive easement
C. Easement appurtenant
D. Easement in gross: A. License
11. A section contains: 640 acres
12. Which of the following is not one of the major rights of ownership?
A. Possession
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Study online at https://quizlet.com/_8gui59
1. The homestead exemption applies to owner occupied dwellings that include
which of the following?
A. Any of these
B. House and land including condominiums
C. Mobile home and land
D. Boat: A. Any of these
2. A license to act as an escrow agent can be held only by a
A. corporation
B. partnership
C. trust company
D. limited liability company: A. Corporation
3. In a township, the section north of Section 10 is
A. Section 3
B. Section 7
C. Section 12
D. Section 22: A. Section 3
4. A real estate brokerage can operate as
A. any of these
B. sole proprietorship
C. corporation
D. partnership: A. Any of these
5. A planned development consists of
A. individually owned properties with no common area
B. individually owned parcels as well as areas owned in common
C. exclusive ownership of the airspace in a particular unit plus an interest in
common in the land and structure
D. Stock in a corporation that holds title to the property and a right of exclusive
occupancy in a particular unit.: B. individually owned parcels as well as areas owned in common
6. In every agency relationship there are
A. a principal, an agent, and a third person
B. an agent, a subagent, and a customer
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, Real Estate Principles Quiz
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C. a dual agent, a third party, and a broker.
D. a broker, a salesperson, and a client: A. a principal, an agent, and a third person
7. For a federally related residential mortgage loan, the lender must give the
borrower
A. a transfer disclosure statement form
B. an agency disclosure
C. a copy of the completed loan application
D. the Closing Disclosure form: D. the Closing Disclosure form
8. When a salesperson changes employment from one broker to another, the
old/new employing broker must?
A. the new employing broker doesn't have to do anything
B. the salesperson must send his license certificate to Sacramento
C. the salesperson must immediately file a certified written statement of why
he or she left
D. the former employing broker must notify CalBRE immediately, in writing.: D.
the former employing broker must notify CalBRE immediately, in writing.
9. Zoning is a law or ordinance specifying the possible uses of property imposed
by
A. state government
B. city or county government
C. federal government
D. any of these: B. City or county government
10. A man and a woman have two adjoining parcels of land. The man gives the
woman a written, revocable, nonexclusive right to cross over his land as a short
cut to his rear yard. What is this right called?
A. license
B. Prescriptive easement
C. Easement appurtenant
D. Easement in gross: A. License
11. A section contains: 640 acres
12. Which of the following is not one of the major rights of ownership?
A. Possession
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