1.

 What's the most effective definition of economic rent?

A. the quantity the property would rent for if it absolutely was accessible in today's market
B. The amounts the owner truly receives in rents
C. the quantity left when the lease giver pays expenses
D. Payment to be used of property selected during a lease

A. the quantity the property would rent for if it absolutely was accessible in today's
market

2. What's the primary step within the appraisal process?

A. build a preliminary survey and appraisal set up

B. outline the appraisal drawback
C. Classify the info
D. Organize the info program

B. outline the appraisal drawback

3. The state twelvemonth falls between the dates

A. day to Gregorian calendar month one, midnight.

B. Gregorian calendar month one to day.
C. June thirty to Dominion Day.
D. Dominion Day to June thirty, midnight.

D. Dominion Day to June thirty, midnight.

4. A parcel of land is sold-out for $163,000. If it appreciates at Bastille

Day combined annually and also the trafficker keeps it for seven years, what
quantity can the vendor buy it?

A. $72,000
B. $70,500
C. $65,000
D. $55,000

C. $65,000

5. The Johnsons sold-out their house and can shut on Dominion Day. The Johnsons paid

their full annual city taxes in Gregorian calendar month. That statement BEST
describes what's going to occur at closing?

A. The consumers can owe the Johnsons the unused tax for the balance of the year
B. The Johnsons can owe the consumers the tax due.
C. Nothing can happen.
D. The Johnsons can owe the consumers 1/2 the tax due.

A. The consumers can owe the Johnsons the unused tax for the balance of the year.

6. Population demographics have an on the spot impact on land development choices.

U.S. agency statistics show that the biggest share of minorities projected for 2050 is

a. African-American
b. Hispanic
c. Asian
d. Pacific Islanders
b - Hispanic

7. The purpose of the Truth-in-Lending Act is to:

a. Regulate charges for credit

b. Assure a meaningful disclosure of credit terms
c. Establish the maximum monthly payments on a trust deed
d. Establish the maximum annual percentage rate

b. Assure a meaningful disclosure of credit terms

8. That of the subsequent federal agencies isn't a federal regulator

of funding fiduciaries?

a. The Fed
b. Federal Deposit Insurance Corporation (FDIC)
c. Department of Housing and concrete Development (HUD)
d. workplace of the controller of the Currency (OCC)

c - Department of Housing and concrete Development HUD)

9. Once grocers settle for a $50 bill in exchange for groceries, they are

doing therefore supported

a. the gold customary
b. the standard
c. the central bank customary
d. religion and confidence within the government

d - religion and confidence within the government

10. The central bank is organized as

a. one financial organization with multiple branch banks

b. one financial organization with twelve district banks
c. a central industry with four major districts
d. a central industry composed of twelve district banks

d. a central industry composed of twelve district banks

11. If the Fed is trying to impede a too chop-chop growing economy, it might

a. raise the proportion of assets that member banks should detain reserve

b. lower the proportion of assets that member banks should detain reserve
c. lower the discount
d. sell securities through the Federal Open Market Committee

a. raise the proportion of assets that member banks should detain reserve

12. A typical formula for deciding the rate of interest on a construction loan is

a. at par with prime

b. 2 points over prime
c. 2 points but prime
d. 2 points over the discount rate

b - 2 points over prime

13. Half a mile by half a mile represents how many acres?

a. 120 acres
b. 80 acres
c. 160 acres
d. 140 acres

c. 160 acres

14. the fundamental functions of the U.S. Treasury embrace all the subsequent EXCEPT

a. collect taxation
b. pay the government's bills
c. regulate the corporation
d. prosecute counterfeiters

c - regulate the corporation

15. executive department is directly liable for all the subsequent activities EXCEPT

a. oversight the Federal Housing Administration (FHA)

b. leading Ginnie Mae
c. managing the Housing selection Voucher Program
d. oversight thrifts

d - oversight thrifts

16. Government-sponsored enterprises (GSEs) like corporation and crop area

unit regulated by the

a. Fed
b. workplace of Thrift supervising (OTS)
c. Federal Housing Finance Agency (FHFA)
d. U.S. Treasury

c - Federal Housing Finance Agency (FHFA)

17. the important Estate Settlement Procedures Act (RESPA) protects the

participants during a land group action by

a. prohibiting discrimination supported supply of funds

b. requiring speech act of the April on the HUD-1 settlement sheet
c. requiring speech act of all prices concerned within the group action
d. requiring that each one settlements be conducted by attorneys

c- requiring speech act of all prices concerned within the group action

18. That of the subsequent could be a protected category underneath the Equal

Credit chance Act (ECOA) that's NOT enclosed within the honest Housing Act?

a. Race
b. National origin
c. Religion
d. legal status

d. legal status
19. A full service bank has recently opened offices within the northwest section
of city and should currently actively pursue providing credit to residents of that
neighborhood per that legislature act?

a. land Settlement Procedures Act

b. honest Housing Act
c. Equal Credit chance Act
d. Community Reinvestment Act

d - Community Reinvestment Act

20. Agriculture Department Rural Development combined all the subsequent entities

EXCEPT

a. Farmers Home Administration

b. Farm system
c. Rural Development Administration
d. Agricultural Cooperative Service

b - Farm system

21. one among the foremost necessary issues for any financial organization that

originates mortgage loans these days is that the lender's ability to

a. charge points on each group action

b. quickly sell the loans within the secondary market
c. use electronic underwriting
d. offer each fixed- and adjustable-rate loans

b - quickly sell the loans within the secondary market

22. Morrison receives a net income income of $675 per month at an annual return rate of
7 1/2%. Morrison's investment amounted to:

a. $8,100
b. $108,000
c. $10,000
d. $110,000

b. $108,000

23. some is getting a replacement home for $280,000. What quantity deposit can they

need to create so as to avoid paying for personal mortgage insurance?

a. $14,000
b. $28,000
c. $46,000
d. $56,000

d - $56,000

24. Which of the following is least correct about in-house sales?

a. Brokers cannot sell their own in-house listings

b. The broker always works for the seller
c. May sell it only to a buyer
d. May be sold only from broker to broker

a. Brokers cannot sell their own in-house listings

25. The popular system wont to calculate a particular credit score which will replicate the

relative risk ranking of a personal applying for a real estate loan is

a. Experian
b. FICO
c. TransUnion
d. Equifax

b - FICO

26. When the government body takes private real property necessary for public use, the
certain legal processes must be followed. Taking a real property such as above is
exercising the right of:

a. Eminent domain
b. Police power
c. Escheat
d. Zoning laws

b. Police power

27. When making a loan, amortization tables are used in order to determine the:

a. Monthly payment
b. Annual percentage rate
c. Interest rate
d. Beneficiary's right

a. Monthly payment

28. industrial mortgage-backed securities (CMBS) area unit pooled by

a. Fannie Mae
b. Ginnie Mae
c. corp
d. land Mortgage Investment Conduits (REMICs)

d - land Mortgage Investment Conduits (REMICs)

29. the foremost common style of physical encumbrance on a property is

a. a utility easement providing access

b. a deed restriction prohibiting fencing
c. Associate in Nursing encroachment of a neighbor's private road
d. Associate in Nursing encroachment of tree limbs over the borderline

a - a utility easement providing access

30. A typical example of Associate in Nursing involuntary lien on a home would be a

a. mortgage of $180,000
b. mortgage of $18,000
c. deed of trust for $180,000
d. capital levy lien of $3,000

d - capital levy liens area unit involuntary

31. A house owner lives during a title theory state. That of the subsequent BEST

describes the homeowner’s position?

a. investor has legal rights; house owner has equitable rights

b. investor and house owner have equal legal rights
c. investor has equitable rights; house owner has legal rights
d. Neither investor nor house owner have legal rights

a - investor has legal rights; house owner has equitable rights

32. The bank foreclosed on a homeowner's mortgage in Gregorian calendar month 2013.

The house owner has the right to redeem the property till Gregorian calendar
month 2015. The property is seemingly settled during a state that enables for

a. Associate in Nursing equitable redemption amount
b. a statutory redemption amount
c. strict legal proceeding
d. a deed in office of legal proceeding

b - a statutory redemption amount

33. Which of the following State agencies is empowered to prevent acts of discrimination

in housing accommodations in California because of race, color, sex, national origin, or
ancestry?

a. Department of Fair Employment and Housing Act

b. Discrimination Act
c. Department of Real Estate
d. Labor and Construction Department

a. Department of Fair employment and Housing Act

34. a replacement mortgage lien should be recorded within the county wherever the

a. investor is found
b. recipient presently resides
c. property is found
d. trafficker presently resides

c - liens area unit filed within the county the property is found

35. A house owner desires to put a mortgage lien on his property.

The investor can review his request additional favorably if he has which sort of
interest within the property?

a. estate for life

b. landed estate interest
c. Air rights
d. fee interest

d - fee interest

36. A broker obtained a 6% listing commission fee on a selling price of $108,000. The
seller incurred additional closing costs of $1,450. Based on the preceding information,
the seller's total cost of sale would amount to:

a. $10,780
b. $7,500
c. $7,930
d. $6,500

c. $7,930

37. a rise within the convenience of cash would result in that effect?

A. Interest rates wouldn't be affected because of RESPA pointers

B. Interest rates would go down
C. Interest rates would go up
D. Interest rates wouldn't be affected because of TRUTH IN loaning

B. Interest rates would go down

38. Allison has simply qualified for her salesperson's license. what
quantity time will she ought to file on her application to practice?

A. 2 years from the date she passed the communication

B. One year from the date she passed the communication
C. 2 years from the date she was notified she had passed the communication
D. One year from the date she was notified she passed the communication

B. One year from the date she passed the communication

39. Outlined as a loss in worth from any cause, depreciation is usually divided

into 3 classes. The loss valuable thanks to the traditional wear and tear on a property is
called:

A. Physical deterioration
B. External devolution
C. purposeful devolution
D. Economic deterioration

A. Physical deterioration

40. the first purpose of a list agreement is to:

A. offer the broker permission to sell all of his principal's properties

B. List all enhancements and amenities of the property
C. function a contract of employment between the owner and also the broker
D. function a guide for a sales contact

C. function a contract of employment between the owner and also the broker

41. A deed of trust could also be discharged from the records by:

A. Payment fully
B. A title report
C. Recording a conveyance deed
D. Recording the note

C. Recording a conveyance deed

42. Blockbusting is best represented as Associate in Nursing attempt:

A. By banks to refuse loans to householders in sure segments of town

B. By insurance firms to refuse to issue homeowner's policies to sure residents of town
C. to create guerilla bands to use violent action to integrate neighborhoods
D. To panic a region into thinking property values can decline thanks to unwanted
person(s) occupancy

D. To panic a region into thinking property values can decline thanks to unwanted

person(s) occupancy

43. When depreciation is taken on real property:

a. The basis is reduced

b. Value increases
c. Value is stable
d. Has no value

a. The basis is reduced

44. That of the subsequent wouldn't create a contract voidable?

A. Duress
B. Undue influence
C. extrajudicial purpose
D. Fraud

C. extrajudicial purpose

45. For federal taxation functions, a remunerator might regulate the value basis of his

personal residence that of the subsequent items?

A. Economic devolution
B. The addition of a concrete area
C. Interest on a loan
D. insurance premiums paid

B. The addition of a concrete area

46. Henry created a proposal to get belongings. However, he died of a heart failure before

the listing broker might send word him of Associate in nursing unqualified, signed
acceptance by the vendor. Supported these facts that of the subsequent is true?

A. The provide Associate in Nursing acceptance represent an enforceable contract

B. The death of Henry implanted a revocation of the provide
C. Notification to the administrator or executory would bind the estate
D. The sale wouldn't be binding as a result of the deed wasn't delivered before Henry's death

B. The death of Henry implanted a revocation of the provide

47. Land zoned to be used because the web site for a multifamily residential development
(such as living accommodations buildings) would be denoted as:

A. M-3
B. R-3
C. C-3
D. A-3

B. R-3

48. The term cash equivalent refers to loans

a. created for the acquisition of workplace buildings
b. provided to firms for growth
c. created by industrial banks
d. publicized in native media ads

c - created by industrial banks

49. Though a title contract will cowl the chance of loss for several reasons, that of the

subsequent risks isn't coated during a title insurance policy?

A. Failure of husband or woman to sign the deed

B. A division ordinance, regulation, or plan
C. A document within the series of records is solid
D. Associate in Nursing unpaid town tax not shown within the policy

B. A division ordinance, regulation, or plan

50. consistent with the Department of property rules, it'd be thought of commingling if a

broker:

A. Deposits into the fund account a renter's check for the protection deposit on Associate in

Nursing financial gain property the broker owns

B. Leaves funds owed to him as commissions in his fund account for 3 weeks

C. Deposits funds received from 2 totally different individual consumers into an equivalent trust

D. Deposits $200 of his own cash into the trust to hide bank fees on it account

A. Deposits into the fund account a renter's check for the protection deposit

on Associate in Nursing financial gain property the broker owns
51. The position of a building on its web site in relationship to its surroundings is
often spoken as its:

A. Topography
B. Orientation
C. Elevation
D. Plottage

B. Orientation

52. A go for that all parties have consummated their guarantees is a(n):

A. Completed contract
B. terminated contract
C. Executory contract
D. dead contract

D. dead contract

53. Consistent with the Truth-in-Lending Act, shoppers should be told of credit terms by:

A. The trustee
B. Escrow
C. The broker
D. The lender

D. The lender

54. Under the Subdivision Map Act, the subdivision reports must be filed with the:

a. County Assessor's Office

b. Real Estate Commissioner
c. Department of Construction Subdivision
d. City or County where the land is located

d. City or County where the land is located

55. The flexibility vogue is that the most well liked vogue within the U.S. since its debut in
1932.

a. Cape Cod
b. Craftsman
c. Shed
d. Ranch
d. Ranch

56. Post trendy is additionally familiar as:

a. Colonial
b. Tudor
c. Mediterranean
d. Neo-Eclectic

d. Neo-Eclectic

57. once a emptor offers the agent a post-dated check, it:

A. might not be accepted by the agent

B. should be paid now
C. should be delivered to the vendor inside in the future
D. could also be maintained however should be disclosed to the vendor

D. could also be maintained however should be disclosed to the vendor

58. The first purpose of the Federal National Mortgage Association (FNMA) is to:

a. give giant sums of cash for the building trade.

b. finance the development of low price residential housing.

c. lend cash within the residential marketplace below traditional interest rates for lower financial

gain families.

d. Expand out there home equity loan funds by shopping for and mercantilism VA, FHA, and

standard loans within the secondary market.

d. Expand out there home equity loan funds by shopping for and mercantilism VA,

FHA, and standard loans within the secondary market.

59. For a straight-line schedule of depreciation:

a. earlier years receive a lot of weight.

b. later years receive a lot of weight.
c. every year receives equal weight.
d. none of the higher than.

c. every year receives equal weight.

60. A investor with huge funds for investment, World Health Organization prefers larger

loans while not assortment responsibilities, would possibly be a(n):
a. bank.
b. underwriter.
c. non-public investor.
d. savings bank.

b. underwriter.

61. Which of the following is the legal method that City used to implement its general plan?

a. Building codes
b. Zoning
c. Variance
d. Safety zones

b. Zoning

62. To "rescind" is that the same as to:

a. revise.
b. transfer.
c. resale.
d. revoke.

d. revoke.

63. The legal purpose of police power is to:

a. keep every type of business property out of residential neighborhoods.

b. keep the land in each space as similar as attainable.
c. preserve or shield public health, safety, morals, or general welfare.
d. none of the higher than.

c. preserve or shield public health, safety, morals, or general welfare.

64. If roof slopes on all four sides, it is called a

a. Hip roof
b. Gable roof
c. Grabble roof
d. Solar roof

a. Hip roof

65. Within the development of a subdivision of single-family homes, that of the

subsequent would be the smallest amount economical?
a. Cul-de-sacs
b. Long blocks
c. Right angle (90%) intersections into major streets
d. Short blocks

d. Short blocks

66. Associate in Nursing capitalist World Health Organization owned a 16-unit living

accommodations complicated has evaluated a freshly put in throughway close to his
property, that has caused a decrease in monthly rent within the quantity of
$320. once Associate in Nursing St Martin's Day "cap rate" for the world is
applied, what's the ensuing loss in worth he has fully fledged thanks to the freeway?

a. $45,000
b. $40,908
c. $34,909
d. $32,468

c. $34,909

67. that of the subsequent represents a vital a part of a legitimate grant deed?

a. Acknowledgment and recordation

b. supply and acceptance
c. Parties capable of getting
d. Parties properly represented

d. Parties properly represented

68. In getting, if one in every of the parties enters the agreement beneath force, the
contract would be:

a. valid.
b. voidable.
c. void.
d. Illegal.

b. voidable.

69. Beneath a true property sales contract, customer "A" makes a

$2,000 deposit to merchandiser "B" on a property he had been dealings. The agreement
is filed with the county recorder. later, "A" moves to FL, while not creating any
longer payments, and with no notice of his intentions being created to "B." that of the
subsequent would be true?

a. merchandiser may sell the property and acquire a deficiency judgment against "A."

b. New customer shouldn't worry concerning the previous sales to "A."
c. "A's" activity has no impact upon the marketability of the property.
d. There would be a cloud on the title to the property.

d. There would be a cloud on the title to the property.

70. Appraisal fees:

a. may vary.
b. square measure continually a set quantity.
c. square measure supported a proportion of the appraised price.
d. square measure set by the loan broker.

a. may vary.

71. Associate in Nursing unlawful detainer action is also filed by a landowner all

told however one in every of the subsequent. That is it?

a. Tenant holds over once termination of lease.

b. Tenant fails to pay rent.
c. Tenant exercises lease choice agreement, however fails to create payment PRN.
d. Tenant breaches lease by allowing nuisance on the property.

c. Tenant exercises lease choice agreement, however fails to create payment PRN.

72. All the subsequent statements square measure incorrect, except:

a. a true property security may be created from a note on a home not set in any subdivision.
b. holding securities square measure continually secured by installment sales contracts.
c. holding securities and holding sales contracts square measure interchangeable terms.
d. out-of-state subdivisions offered in California purchasable needn't go with Article six of
the California realty Law.

a. A true property security may be created from a note on a home not set in any

subdivision.
73. That of the subsequent properties can
be purchased exploitation agency finance, however NOT VA financing? The
acquisition of:

a. a business.
b. a farm.
c. farm instrumentation.
d. financial gain property/property to be rented to a tenant.

d. financial gain property/property to be rented to a tenant.

74. Associate in Nursing owner acquires title to extra land on his stream-front

property once the river shifts its course. this can be deed by:

a. acclaim.
b. accession.
c. abstraction.
d. alienation.

b. accession.

75. To whom is that the Mortgage payment (MIP) on a VA loan paid?

a. The broker
b. The mortgage company
c. The Veterans Administration
d. To no one

d. To no one

76. That of the subsequent wouldn't be thought of a "fiduciary" relationship?

a. Agent to merchandiser
b. Attorney-in-fact to principal
c. professional to shopper
d. Trustor to beneficiary

d. Trustor to beneficiary

77. Beneath that of the subsequent styles of finance could be a customer needed to

get term life insurance?

a. Cal-Vet
b. standard
c. FHA
d. VA

a. Cal-Vet

78. If land was commerce for $10,000 per acre, what would the subsequent parcel sell
for? The SE¼ of the SE¼ of the SE¼ of Sec. four a nd the S½ of the SW¼ of the SW¼ of
Sec. three and also the N½ of the NE ¼ of the NE¼ of the NE¼ of Sec. nine and also
the N½ of the N½ of the NW¼ of the NW¼ of Sec. 10.

a. $400,000
b. $425,000
c. $450,000
d. $500,000

c. $450,000

79. Which of the following notices could be important to the filing of a mechanic's lien?

a. Notice of non-responsibility
b. Notice of cessation
c. Notice of completion
d. All of the above

d. All of the above

80. Associate in Nursing "agreement during a deed" would best match up with:

a. option.
b. prescription.
c. covenant.
d. commutation.

c. covenant.

81. That of the subsequent would represent a correct delivery of a deed?

a. written agreement mailing the deed to the receiver once signed by merchandiser, and in the

end different needs of the written agreement had been met, however conjointly once the
vendor had died.
b. once linguistic communication, merchandiser gave to broker with directions to offer it
to customer.
c. written agreement delivers deed to customer while not completed (signed) directions.
d. once linguistic communication the deed, receiver in person delivers to granter.

a. written agreement mailing the deed to the receiver once signed by merchandiser,

and in the end different needs of the written agreement had been
met, however conjointly once the vendor had died.

82. For Associate in Nursing appraisal being conducted on a residence in-

built 1910, that of the subsequent would associate in nursing appraiser use?

a. Original value of construction
b. Original value of materials increased by the modification within the value of living index since
1910
c. Today's value of copy less depreciation
d. None of the on top of

c. Today's value of copy less depreciation

83. . If a real estate licensee was trying to persuade people to list or to sell their property
by telling them that members of another ethnic group were moving into their
neighborhood and it would be to their advantage to list or sell. This would be an example
of all of the following, except:

a. Blockbusting
b. Legitimate conduct
c. Panic selling
d. Illegal conduct

b. Legitimate conduct

84. The most effective hedge against inflation would be:

a. equity assets.
b. government bonds.
c. mortgages/loans.
d. savings accounts.

a. equity assets.

85. All of the subsequent square measure ways for estimating increased depreciation,

except the:

a. engineering technique.
b. market research technique.
c. economic technique.
d. value of copy technique.
c. economic technique.

86. A homestead offers NO protection against that of the subsequent filed before the

filing of the homestead?

a. holding taxes
b. Mechanic's liens
c. previous recorded liens
d. All of the on top of

d. All of the on top of

87. Associate in nursing owner has been found guilty of discrimination beneath the

Health and Safety Code. What action will the aggrieved party take?

a. could purchase the property in question, if still on the market

b. could purchase another like property, if the first property isn't on the market
c. is also awarded $500 in damages if neither a nor b on the market
d. All of the on top of

d. All of the on top of

88. Which of the following is the most difficult for mortgage lender to evaluate?

a. The degree of risk

b. Credit of borrower
c. Interest return
d. Cost of financing

a. The degree of risk

89. All of the subsequent instruments square measure wont to convey Associate in

Nursing interest in holding, except:

a. agreement of sale.
b. bill of sale.
c. deed.
d. lease.

b. bill of sale.

90. The recording of that of the subsequent creates a lien?

a. Attachment
b. Easement
c. Notice of non-responsibility
d. Restriction

a. Attachment

91. All of the subsequent square measure ways for critical unimproved holding, except

the:

a. development technique.
b. theoretic technique.
c. market knowledge technique.
d. copy technique.

d. copy technique.

92. Realty brokers and salespeople square measure licensed to interact in listing

and commerce bound factory-made homes that are registered with the Department of
Housing and Community Development for a minimum of:

a. 18 months.
b. 6 months.
c. 1 year.
d. 2 years.

c. 1 year.

93. Interest rates on trust deed loans are primarily determined by which of the following:

a. International market
b. Federal reserves
c. Demand for federal government loans
d. Demand for supply of money

d. Demand for supply of money

94. Involving the sale of a property, that of the subsequent would be exempt from the

"discrimination and unlawful acts" of the Health and Safety Code?

a. Duplex supported by VA loan.
b. Single family, inhabited residence supported by agency.
c. Single family, inhabited residence unencumbered.
d. Twenty unit living accommodations supported by a traditional loan.

d. Twenty unit living accommodations supported by a traditional loan.

95. That of the subsequent isn't associated with a "will"?

a. Bequeath
b. Bequest
c. Devise
d. None of the on top of

d. None of the on top of

96. Associate in Nursing appraiser, engaged to appraise a single-family residence, took

away Associate in Nursing quantity of import as a result of "functional degeneration."
To that of the subsequent was he referring?

a. Dry rot
b. Poor neighborhood
c. Single automobile garage
d. Zoning

c. Single automobile garage

97. There square measure 3 ways unremarkably utilized in the analysis of holding.

However, one in every of these would possibly prove more practical and correct than the
others, reckoning on the sort of property being appraised. as an example, the
comparison approach would be the foremost fascinating selection within the appraisal
of:

a. supposed sweetness properties.
b. service properties.
c. industrial properties.
d. living accommodations properties.

a. supposed sweetness properties.

98. Often an owner can understand a assessable gain once his property is destroyed or

taken through condemnation. This can be familiar as:

a. trading up.
b. depreciation.
c. owner's amenities.
d. involuntary conversion.

d. involuntary conversion.

99. A member of the Institute of realty Management would carry the designation:

a. NAREM.
b. MAI.
c. CPM.
d. PMA.
c. CPM.

100. A company "seal" evidences the:

a. authority of persons exploitation the "seal."

b. rights and privileges of recipient of document with "seal."
c. proof of workplace of the presidency.
d. none of on top of.

a. authority of persons exploitation the "seal."

101. in keeping with R.E.S.P.A., on applicable loans, a investor is needed to furnish a

duplicate of a Special info book (prescribed by Housing and concrete Development) in
conjunction with a "Good religion Estimate" of closing prices to each person from whom
it receives (or for whom it prepares) a written application for a federally connected loan,
within:

a. three business days.
b. twelve business days.
c. fifteen business days.
d. twenty one business days.

a. Three business days.

102. Merchandiser has paid the first 1/2 the annual account of $1,200. Customer agrees

to assume existing insurance policy, originally dated October. 1, 1986, with a 3 year
premium of $900. Written agreement to shut on Mar. 1, 1988. What would be information
superhighway customer coordination for closing?

a. $200 credit
b. $275 debit
c. $675 credit
d. $475 debit

b. $275 debit

103. A personal, revocable, and inalienable permission of authority to try and do one

or additional acts on the land of another, while not possessing any interest in that, is that
the definition of:

a. license.
b. easement.
c. encroachment.
d. option.

a. license.
104. The phrase "time is of the essence" can be found in which of the following contract:

a. Real estate purchase contract and receipt for deposit

b. Real estate listing agreement
c. Grant deed
d. Escrow instructions

a. Real estate purchase contract and receipt for deposit

105. That of the subsequent isn't necessary within the formation of a contract?

a. Acceptance
b. thought
c. Offer
d. Performance

d. Performance

106. The quantitative relation of "physical deterioration" of a single-family residence,

compared to its original cost, would be larger within the initial ten years that of the
following?

a. Lower quality home

b. truthful quality home
c. smart quality home
d. glorious quality home

a. Lower quality home

107. Which of the following is considered real property?

a. Land and buildings

b. Artificial items which are immovable by law
c. Easements that convey rights-of-way over adjoining land
d. All of the above

d. All of the above

108. That of the subsequent teams represent ALL specific liens?

a. Lien for descendants' debts, vendor's lien

b. Mechanics' liens, tax liens, assessment liens
c. Federal tax liens, attachments, state death tax liens
d. company tax liens, federal transfer tax liens, judgment liens
b. Mechanics' liens, tax liens, assessment liens

109. Concerning a "Blanket instrument," that of the subsequent statements is correct?

a. It covers over only 1 property.
b. it always contains a "release clause" providing for unharness of a specific parcel upon
the compensation of a given portion of the loan.
c. it's usually used with a tract of homes designed on speculation.
d. All of the higher than.

d. All of the higher than.

110. The choice of words... "all monies paid on the property area unit to be control in
trust till a unharness is obtained from the blanket encumbrance..." is needed to
shield the:

a. holder of blanket encumbrance.

b. broker.
c. subdivider.
d. purchaser.

d. purchaser.

111. That of the subsequent wouldn't be enclosed in associate degree "eminent domain"

situation?

a. Condemnation proceedings
b. truthful thought
c. For public smart
d. sectionalization laws

d. sectionalization laws

112. A developer of a subdivision enclosed a clause in every purchase

contract prohibiting signs providing individual properties available, till he
had oversubscribed all the subdivision. Till developer completes sales of all
parcels, that of the subsequent is true?

a. patrons might place up any size sign to draw in prospective patrons for marketing.

b. patrons might place up affordable size signs to draw in prospective patrons for marketing,

for the first clause prohibiting signs would be unfair restraint and in violation of truthful trade
laws.

c. patrons cannot place up any signs, because it would be against the law.

d. None of the higher than.

b. patrons might place up affordable size signs to draw

in prospective patrons for marketing, for the first clause prohibiting signs would be
unfair restraint and in violation of truthful trade laws.

113. Once computing Infobahn financial gain of associate degree edifice, associate

degree appraiser would contemplate, as a management expense, that of the following?

a. wage paid to a manager
b. The owner acting as his own manager
c. A tenant acting as manager in role of rental
d. All of the preceding
d. All of the preceding

114. That of the subsequent would complete this (true) statement? Property is:

a. real if movable.
b. personal if a fixture.
c. personal if not real.
d. real if tangible.

c. personal if not real.

115. An individual holding a judgment against a true estate broker seeking relief from the
Recovery Fund may get a most of:

a. $10,000.
b. $15,000.
c. $50,000.
d. $250,000.

c. $50,000.

116. Abe owned 2 parcels of land, "A" and "B." Abe oversubscribed ton "A" to

Bob United Nations agency, before written agreement closed, had the written
agreement officer amendment the deed to browse ton "B." written agreement closed and
documents were recorded. Bob then oversubscribed ton "B" to Chuck, United Nations
agency recorded his deed. After, Abe oversubscribed "B" to Daren, United Nations
agency recorded his deed. United Nations agency is that the owner of ton "B"?

a. Abe
b. Bob
c. Chuck
d. Daren

d. Daren
117. The Uniform industrial Code revised, combined, and replaced several statutes and
laws, including:

a. Uniform Conditional Sales Act.

b. Uniform Negotiable Instruments Law.
c. neither of the higher than.
d. each a and b.

d. each a and b.

118. If not per written agreement, what's the amount of days ordinarily allowed to

shut associate degree escrow?

a. 30 days
b. 45 days
c. 60 days
d. an affordable time

d. an affordable time

119. As a part of his determination important by suggests that of the

price approach, associate degree appraiser would use the
market information approach to see the:

a. worth of the land.

b. worth of the enhancements on the land.
c. integration of property values.
d. comparable values of abutting properties.

a. worth of the land.

120. Broker A accepted a deposit from client B with a suggestion on a property, and

promptly deposited the Buyer's canvas his savings bank trust. Trafficker rejected
the supply and client demanded the deposit back—immediately. Broker wrote check
to client from savings bank trust, however later learned that Buyer's original check had
not cleared because of poor funds. That of the subsequent statements is correct?

a. Broker desecrated assets Law by refunding Buyer's deposit before receiving notice it had

cleared.
b. Broker has shortages in his savings bank trust.
c. Broker ought to have given client a postdated check.
d. All of the higher than.
b. Broker has shortages in his savings bank trust.

121. One month interest payment on a straight note amounts to $180. At Sep 11 every
year rate, what's the face quantity of the note?
a. $26,000
b. $20,000
c. $24,000
d. $27,000

c. $24,000

122. The appraiser's primary live of the potency of associate degree edifice arrange is:

a. elevator capability.
b. passageway widths.
c. parking.
d. quantitative relation of web rentable space to gross space.

d. quantitative relation of web rentable space to gross space.

123. If the "demand" for homes goes up and also the "supply":

a. diminishes, the values can decrease.

b. remains constant, the values go down.
c. remains constant, the values can increase.
d. goes up, the values can go up.

c. remains constant, the values can increase.

124. Which of the following is not a lien?

a. An encroachment
b. Mortgage
c. Trust Deed
d. Property taxes

a. An encroachment

125. Associate degree capitalist required money for extra investments, and "took out" a

loan against his property. His interest payment on this new loan was but Infobahn come
back he was realizing on the property. This is often associate degree example of:

a. capital turnover.
b. commerce on equity.
c. band of investment.
d. deficit finance.

b. commerce on equity.
126. Associate degree auctioneer United Nations agency sells a business on that a
Notice of Sale was properly recorded and published:

a. is in person chargeable for any losses to seller's creditors.

b. should have a "Business Opportunity" license.
c. should have a "Securities Dealer" license.
d. solely desires a true Estate Broker's license.

d. solely desires a true Estate Broker's license.

127. Base lines run:

a. north and south.

b. east and west.
c. north and east.
d. none of the higher than.

b. east and west.

128. The U.S. Bureau of Labor Statistics publishes a value of living index. If a lease
contains associate degree clause, which
needs periodic changes in relevance changes within the index, the lease is termed a(n):

a. fastened lease.
b. customary lease.
c. graduated lease.
d. federal lease.

c. graduated lease.

129. Who is more likely to earn a sale commission? The broker who:

a. Attempted to bind the principal to a contract

b. Secured an offer with a deposit
c. Secured acceptable to an offer
d. Communicated acceptance of the offer from buyer to seller

c. Communicated acceptance of the offer from buyer to seller

130. Fill in appropriately: "A trend in assets which give the recession trends of business,
and once business starts a swing upward."

a. precedes, proceeds
b. follows, lags behind
c. lags behind, precedes
d. precedes, lags behind
d. precedes, lags behind

131. For federal tax functions, a payer may increase the idea of his/her residence

with that of the following?

a. Property taxes
b. accumulated depreciation
c. Addition of a terrace
d. None of the higher than, for a private residence basis can't be adjusted for any reason

c. Addition of a terrace

132. Below a lease agreement, United Nations agency holds the acres estate?

a. Beneficiary
b. Lessee/Tenant
c. Lessor
d. None of the higher than

b. Lessee/Tenant

133. Once a broker shows a client's property to a prospective client, the broker should:

a. advise the office of the showing by memorandum.

b. ensure showing with the customer by written memorandum.
c. advise the vendor in writing on the prospect's establish.
d. wait till the prospect contacts the owner.

c. advise the vendor in writing on the prospect's establish.

134. Appraisers use that of the subsequent strategies for estimating costs?

a. Comparative square measure, unit in situ

b. Comparative sq. or capacity measure, unit in situ, amount survey
c. Residual financial gain, ensuing from capitalization calculations
d. Replacement prices, ensuing from capitalization calculations

b. Comparative sq. or capacity measure, unit in situ, amount survey

135. A broker arranges the sale of a home. There’s a buying deal cash T.D. from

the loaner. The broker isn't needed to envision that the T.D. is recorded if the:
a. client instructs him to not record.
b. client associate degreed trafficker choose to not have an written agreement.
c. broker isn't concerned financially within the loan procurance.
d. the beneficiary instructs him to not record the T.D.

d. the beneficiary instructs him to not record the T.D.

136. The goal of the truthful Housing Act is for the aim of:

a. removing prejudice in each community.

b. establishing commercialism practices that area unit "color blind."
c. establishing commercialism practices wherever you are doing unto others as you'd have them
do unto you.
d. all of the higher than.

d. all of the higher than.

137. additionally to being registered for a minimum of 1 year, factory-

made homes oversubscribed by real

a. 8' wide and 20' long.

b. 6' wide and 40' long.
c. 12' wide and 30' long.
d. 8' wide and 40' long.

d. 8' wide and 40' long.

139. That of the subsequent sorts of finance typically doesn't need any down payment?

a. Cal-Vet
b. typical
c. FHA
d. VA

d. VA

140. Businesses in CA might take the shape of a personal proprietary, partnership, or

corporation. Every kind has its blessings. One advantage of in operation as a general
partnership is that:

a. every partner has the employment of assets of the partnership.

b. management of the business may be left to the opposite partner with very little concern.
c. personal assets of a partner can't be touched by creditors of the business.
d. there's less responsibility and longer may be spent removed from the business.

a. every partner has the employment of assets of the partnership.

141. The value of real estate commonly known as the worth of the dollar decreases. The

value of real estate commonly known as the worth of the dollar will increase.

a. increases, decreases
b. increases, increases
c. decreases, increases
d. decreases, decreases

a. increases, decreases

142. Price levels in an exceedingly residential neighborhood area

unit influenced additional by social characteristics of its gift and prospective occupants
than by the other issue. What would maintain high values in an exceedingly given
neighborhood?

a. everyone getting with comparable down payments.

b. everyone having just about an equivalent financial gain levels.
c. each a and b.
d. None of the on top of.

c. each a and b.

143. A plot of land that's thirty miles sq. contains what percentage townships?

a. 0.69
b. 4
c. 9
d. 25

d. 25

144. Complaints involving violations of federal law should be filed among what

percentage days of the violation?

a. 90
b. 120
c. 150
d. 180
d. 180

145. Relating to Conditions and Covenants, that area unit restrictions obligatory upon

grantees limiting property use, the social control of "conditions" would be considered:

a. an equivalent as for covenants.

b. additional demanding than for covenants.
c. less demanding than for covenants.
d. none of the on top of.

b. additional demanding than for covenants.

146. When financing a home with a long-term loan, if equal payments are made, the
amount of the principal will:

a. Decrease while the interest payment decreases

b. Increase while the interest payment decreases
c. Remain the same along with the interest
d. Increase at a constant rate for the life of the loan

d. Increase while the interest payment decreases

147. once a building is positioned on loads in such some way that it reflects thought of

noise, sun, wind, privacy, and alternative factors, the act of positioning is called:

a. land use conformity.

b. orographic arrangement.
c. profile elevation.
d. orientation.

d. orientation.

148. An agency relationship may be terminated by:

a. Lis pendens
b. Completion
c. Estoppel
d. Tour de force

b. Completion

149. That of the subsequent would be thought of a suggestion in an

exceedingly assets transaction?
a. Condition
b. Covenant
c. Performance
d. Tender

d. Tender

150. If the owner of a property thinks that his property has been over-assessed by the
county assessor, he would contact the:

a. Assessment Appeals Board

b. The controller
c. Tax collector
d. Department of Appraisals

a. Assessment Appeals Board