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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. When the Taylors finally paid off their 30-year mortgage, their lender was required to send them the document known as
2. An owner is planning to build on newly purchased property. Zoning laws state that no improvement may exceed 50 feet in height, architectural guidelines limit improvements to 45 feet in height, and the deed restriction states the maximum height to be 30 feet. What is the tallest building the owner can legally construct?
3. In inflationary times, a property manager would NOT want a long-term lease based on
4. The task of the appraiser is to
5. The lender's right to call in the loan in case of default and put the secured property up for sale is based on the mortgage document's
6. When a borrower is required to maintain an escrow or trust account with the lending institution, money in that account may be used to pay the homeowner's
7. An appraisal made as part of a federally related transaction may require
8. Even though the broker employs an associate licensee as an independent contractor, the broker is still responsible for
9. The Real Estate Settlement Procedures Act (RESPA) requires lenders to
10. With an amortized loan, each month the
11. For a lease to be valid, all of the following are required EXCEPT
12. Which of the following is an advantage of a biweekly payment plan?
13. 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?
14. A customer goes into a restaurant and orders dinner. At the end of the meal, is the customer legally obligated to pay the check?
15. No federal fair housing laws are violated if a landlord refuses to rent to
16. The form of co-ownership in which there are many owners but only one or two people who make decisions is known as
17. Location of a single-family residence in a seismic hazard zone is indicated using the
18. Gerald Fisher owns 140 acres of pasture. An oil company offers him a monthly fee plus a percentage from the sale of any oil pumped from the wells drilled on the property within the next three years. This arrangement is known as a
19. Joanna Bruno bought a house for $120,000, putting 20% down and borrowing the rest with a conventional loan. At the end of the first year, her principal had been paid down by $480, and property values in the area had risen by 6%. Her equity at the end of that first year was
20. 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?
21. The broker-officer of a corporation
22. In a real estate transaction, fiduciary duties are owed to the
23. Tax credits are a direct offset against taxes due rather than deductions against income. Credits are usually available for all of the following types of real estate EXCEPT
24. The alienation clause found in most security instruments states that the full amount will be immediately due and payable if the
25. When a borrower defaults on a mortgage, the lender can invoke the