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California Real Estate Test Questions
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California Real Estate Test Questions
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25 Questions

1. Bringing parties together for the purpose of selling, leasing, or exchanging real estate is called
2. The Moonbeam Corporation closed its Sierra production facility. Many former Moonbeam employees were forced to seek jobs elsewhere, and housing prices dropped. This is an example of
3. A building suffers loss in value due to functional obsolescence when it is
4. Which of the following is an example of voluntary alienation of real property?
5. With an amortized loan, each month the
6. The source of financing for real estate with the most liberal terms and flexible procedures is
7. The acronym that represents the elements of value is
8. Amendments to the escrow instructions
9. In a real estate transaction, fiduciary duties are owed to the
10. Another name for the breakdown method of computing depreciation is
11. In calculating capital gain resulting from the sale of a principal residence, all of the following are considered EXCEPT
12. The best method for appraising an apartment building would be the
13. The manager protects the owner from financial loss in all of the following ways EXCEPT by
14. In a condominium, the owners own proportionate interests in
15. A seller receives an offer to purchase and puts forth a counteroffer to the buyer. Until the buyer notifies the seller of her acceptance or rejection, the seller
16. A real estate salesperson may receive compensation from
17. A good source of data for preparation of a CMA is the
18. When adjusting for differences, the appraiser should base the value of a feature on
19. After paying a 7% commission to his broker, a seller receives $627,750 from the sale of his house. How much did the house sell for?
20. The holder of a contract to purchase a property suspects that the seller is considering selling the property to another buyer. To preserve her rights, the contract holder should
21. Homeowners may deduct all of the following expenses on their tax return EXCEPT
22. A mini-ranch is being established on a newly acquired 25-acre parcel of land. The new owner plans to enclose the property with a split-rail fence. The rectangular lot has 1,000 feet of frontage on the state road. How many feet of fencing will be needed?
23. Michael Brown refuses to sell his farm to the state, which needs it to complete the route for a new highway. The state may go to court and ask that his farm be condemned, allowing the state to purchase the land using its right of
24. A junior mortgage is one placed
25. A lien against all property of an individual for an IRS debt is referred to as

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