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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. Linda Robinson's offer to buy David Hendley's house has been accepted, but the actual sale will not take place for three months. Until then, their written sales contract is considered
2. Encroachments, liens, licenses, and other claims against an owner's full title are known as
3. An appraisal made as part of a federally related transaction may require
4. Which of the following is NOT true of the ''light of rescission?"
5. A salesperson has earned $120,000 in gross commissions this year. If the average commission is 2.6% per transaction, and the salesperson receives 60% of the commission from each transaction, approximately how much sales volume has that salesperson settled this year?
6. The manager protects the owner from financial loss in all of the following ways EXCEPT by
7. To increase the effective yield on a $250,000 loan by 1/4% when one discount point is equivalent to an increase in the APR of 1/8%, how much would the lender collect at settlement in loan discount?
8. The task of the appraiser is to
9. A good source of data for preparation of a CMA is the
10. The main obligation the principal owes a real estate agent is
11. All of the following are required to create a valid mortgage lien EXCEPT a
12. A planned development consists of
13. The form of co-ownership in which there are many owners but only one or two people who make decisions is known as
14. In a real estate office, salespersons are generally considered the principal broker's
15. Which of the following does an appraisal take into consideration?
16. The borrower negotiates with the lender to cure a default by assigning title to the lender in exchange for a release from further indebtedness. This agreement is called a
17. The most important requirement of the federal lead-based paint law is that the
18. Joseph Flannery is borrowing $ 15,000 from his brother Tim in order to have enough for the down payment on his new house. They have agreed that the $15,000 will bear an interest rate of 12% with a flat semi-annual payment of $1,000 plus earned interest. How much will Joseph's first payment to Tim be?
19. The Real Estate Settlement Procedures Act (RESPA) requires lenders to
20. A real estate salesperson may receive compensation from
21. Which of the following properties would likely merit the highest capitalization rate?
22. Which of the following is the most important factor for a lender in determining credit-worthiness?
23. Laura Murphy is buying a new home for $193,000. She makes a $40,000 down payment and finances the balance with a 7.5% 30-year conventional loan. The factor for repayment is $7.00 per thousand. After making the first payment, what is the remaining balance on Laura's loan?
24. Melanie is applying for work as a truck driver. Because Melanie suffers from narcolepsy, she can fall asleep without warning at any time of the day. Which of the following is true?
25. Lenders across the country are likely to offer a certain type of mortgage plan after an announcement that such mortgages with certain specifications will be purchased by

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