1 of 100 - The law enforces promises through the use oflaws.regulations.contracts.policies.

2 of 100 - A substantive lawestablishes and controls rights and duties of parties.sets out the methods for enforcing the rights and duties of parties.creates a timeline for filing a lawsuit.outlines the burden of proof.

All of the following Bill of Rights protections are related to property rights EXCEPTequal protection.unreasonable searches and seizures.just compensation.freedom of speech.

The Uniform Commercial Code does all of the following EXCEPT

allow the expansion of commercial practices.allow the expansion of commercial practices.clarify the law governing commercial transactions.standardize the law between jurisdictions.

 Certain courts are specialized courts, which means that theydo not have trials.are only at the state level.have limited jurisdiction.are appellate courts.

hat is the second step in a civil case in district court?PleadingsDiscoveryPost trialPre trialWhich of the following is NOT a reason why a court might reverse an arbitration reward?There was fraud or deception.The arbitrator did not follow requirements.

It overreached the matters that the arbitrator was presented.One side was dissatisfied with the result of arbitration.

What is the method traditionally used over the largest part of the United States to survey and classify land parcels before naming an owner, particularly in rural or undeveloped land?A topographic surveyThe Public Land Survey SystemRecorded plat surveyMetes and bounds

What system, also called the recorded plat method, is used to describe properties in residential, commercial, and industrial subdivisions?The rectangular survey systemMetes and boundsThe lot and block systemThe Public Land Survey System

Lenders typically want surveys dated withintwelve months of the closing date.six months of the contract date.ten months of the closing date.six months of the closing date.

Standard elevation reference points are calleddeviations.triangulation points.datums.slopes.

What type of property is abstract, having no physical existence in itself, other than as evidence of one's ownership interest?Representational propertyTangible propertyReal estateIntangible property

What describes minerals that are deemed real property, such as gold and silver, until they are removed from the earth and become personal property?

Mineral rightsNutrientsSyntheticsSolid minerals

Plants and crops that grow naturally, without requiring anyone's labor or machinery, are consideredcommunity property.real property.emblements.personal property.

Why is the fee simple absolute estate the most desirable?Because it is tax freeBecause it must conform to conditionsBecause it not conditioned by stipulated or restricted usesBecause it is worth more money

What is a pur autre vie life estate?It endures over the lifetime of the owner, then passes to an heir.It ends with the death of the life estate owner and may pass back to the original owners or their heirs or to a named third party.It ends with the death of the original grantor, then passes to a third party.It endures over the lifetime of a third person, after which the property passes from the tenant holder to the original grantor.

If an easement appurtenant is granted by a court to a property owner because he or she needs to access a property, it is calledparty wall easement.easement by necessity.easement in gross.personal easement.

All of the following lien types are exempt from the homestead law EXCEPTrefinancing a lien against the homestead.manufactured home refinancing.credit card.purchasing money on the homestead.

In addition to the date of recordation, what other factor is used to determine lien priority?CategorizationCreditorAmountLocation

 In a joint tenancy, what does unity of ownership mean?Each tenant owns equal shares.The tenants hold a single title.Any tenant may transfer his or her interest to another.There can only be a certain number of tenants.

In partnerships, a general partnerhas limited liability.shares equal liability with the other partners.has no liability.has unlimited personal liability.

How much of a property exemption is a totally disabled war veteran, making over $40,000 annually and living in California, entitled to?$50,000$100,000$40,000$75,000

What land use term refers to uses that are automatically allowed by the zoning code?Uniform zoningBest of use zoningAs of right zoningCommunity zoning rights

The purpose of restrictive covenants is to preserve and protect the quality of land in subdivisions and to maximizeincentive zoning.land improvements.land values.recreational use.

What allows a government entity to purchase a fee, leasehold, or easement interest in privately owned real

property for public good and public use, regardless of the owner's desire to sell?Public ownership rightTakingSecessionEminent domain

In what type of zoning is density determined for an entire area, rather than on a lot by lot basis?Down zoningIncentive zoningCluster zoningExclusionary zoning

What term describes a temporary suspension of the development of a property?MarqueeMoratoriumDedicationPrezoning

What 1970 Act authorized the EPA to establish air quality standards for industrial land uses, as well as for automobile and airplane emissions?The Resource Conservation and Recovery ActThe Compensation and Liability ActThe CA Environmental Quality ActThe Clean Air Amendment

At what level are all agency relationships created?The salesperson levelThe client levelThe broker levelThe fiduciary level

What rules should brokers follow to decrease the possibility of lawsuits?Property inspection rulesOffice policy rulesLicensing rulesAgency disclosure rules

The best way to turn a customer into a client and to avoid implied agency is by filling out a listing agreement form ora transaction form.a buyer representation form.a purchase contract.an assignment form.

What would a broker need in order to propose an offer on a property on behalf of a buyer-client without the client's permission?Implied agencySpecial agencyUniversal agencyGeneral agency

An agent is bound to inform a client of all facts regarding the client's transaction. This includes both the facts that the agent knows and those thatthe broker knows.the agent should have known.the inspector knows.

the cooperating agent knows.

A licensee can provide factual knowledge to a customer but does not provideproperty improvements.square footage.sale's price.advice.

When a seller lists his or her home with a licensee and the property does not go under contract or if the client does not agree to extend the time of the listing, then the listing willterminate.cancel.expire.not sell.

Dual agency representation requires brokers to treat all parties equally. This essentially means clients becomeprincipals.customers.licensees.consumers.

In contract law, what term means that someone has broken his or her word?InfringementViolationInfractionBreach

A Buyer Representation Agreement is bilateral because it defines the obligations and responsibilities ofthe broker.both parties.the buyer.the licensee.

Any last minute changes to a contract that are done by hand should be initialed bythe seller.the buyer.

all parties to the contract.the broker.

What type of contract is an agreement that does not meet the tests for validity, and therefore is no contract at all?An illegal contractA void contractA Doctrine of LachesA voidable contract

What are all parties required to use, to fulfill contingency requirements, under California law?An attorneyConsiderationDue diligenceA transaction broker

 The standard measure of loss of bargain damages, for a total breach, would encompass the difference between the agreed contract price and the market value of the property on the date ofcontract.title.acceptance.breach.

When a contract does not accurately reflect the intentions of the parties because of some mechanical or clerical error in the document, what legal action is necessary to correct or modify the contract?RetractionRepealReformationRescission

What does the IRS require to determine if a person is truly acting as an independent contractor and not an employee?A social security tax formThe safe harbor testA self employment testA worker classification agreement

What provision in an independent contractor agreement states the associate will not hold the broker responsible for claims, demands, suits, costs or expenses based on the associates representation of the agreement?Disputes and LitigationTermination of AgreementIndemnificationRegulatory Compliance

In what type of listing does an owner set a minimum amount that he or she wants to receive from the sale of the property and lets the broker have as commission any amount above the set minimum?An exclusive agency listingA net listingA one-time show listingAn open listing

Which section of a CAR Residential Listing Agreement states that the agreement is binding between the seller and seller's successors and assigns?OwnershipSeller and AssignmentsDispute ResolutionSuccessors and Assigns

What provision in a CAR Exclusive Buyer Representation Agreement makes it clear that any information provided through the broker to the buyer during the term of the agreement will not be verified by the broker?Definition of BuyerBroker Authorization and ObligationsEscrow AssignmentBroker Right to Compensation

Which section under Dispute Resolution in a CAR Buyer Representation Agreement states that a buyer and broker agree to mediate any dispute or claim arising before using court action or arbitration?Buyer ObligationsArbitration and Disputes

MediationAcceptance

The salesperson should always think the first offer the buyer makes should be his or herworst offer.only offer.best offer.final offer.

In a sales contract, what percent of the purchase price should the buyer withhold if a seller is a foreign person or entity?3%5%15%20%

Which section in a CAR Residential Purchase Agreement shows who will pay the county transfer fee, HOA related fees, private transfer fee, city transfer fee, and home warranty?Items Included in SaleEscrowNote to Buyer and SellerOther CostsAccording to a CAR Residential Purchase Agreement, how long does a buyer have to complete inspections and approve all material provided by the seller in relation to the property, if not specified?3211017

Which section of a CAR Residential Purchase Agreement is a provision divided into three sections: mediation, arbitration of disputes, and additional terms?Representative CapacityRemedies for Buyer's Breach of ContractDispute ResolutionScope of Duty

What type of contingency, usually required by mortgage lenders, requires that the seller can prove that the house can be adequately insured?A title contingencyAn insurance contingencyA mortgage contingencyA business contingency

What lease provision would outline the condition of the property at the time a lease is executed?Maintenance and RepairsRules and RegulationsLandlord EntryCondition of the Property

What clause describes the type of estate being conveyed and reaffirms the extent of ownership that the grantor is transferring?A caveat emptor clauseAn ownership clauseA habendum clauseA contingency clause

 When a subdivision developer turns the subdivision road or the common ground in the subdivision over to the local government, he or she does so by what's known asconstructive notice.dedication.escheat.acknowledgement.

What type of will is typically made orally on a testator's deathbed and written down by a witness?An approved willA holographic willA nuncupative willA pour over will

What term describes the sudden decrease of land by flowing water or waves often caused by hurricanes and other storms?Erosion

AccretionRelictionAvulsion

What is possession without concealment?Nuncupative possessionNotorious possessionHostile possessionHolographic possession

If a deed is to be recorded, California requires that it be recorded in the office of the county clerkin the county where the buyer resides.in the county of choice determined by the clerk.at the agreed upon location.in the county in which the property is located.

If any of the sections of a Transfer Disclosure Statement are not complete, how much time does the buyer have to cancel the contract if the TDS was delivered in person?5 days7 days3 days10 days

Federal law requires that information, regarding lead-based paint, be given to a buyer or tenant on homes built prior to1980198419781990

What are also known as restrictive covenants or Covenants, Conditions and Restrictions and are constraints that run with the land?LicensesLiensDeed restrictionsA bundle of rights

What type of lien attaches to a single item of real or personal property and does not affect other property owned by the debtor?A general lienAn involuntary lienAn equitable lienA specific lien

What type of tax lien is placed on a taxpayer's real and personal property for failure to pay income taxes?A state corporate income tax lienA federal income tax lienA state intangible tax lienA state corporation franchise tax lien

What can a plaintiff file essentially telling potential buyers that the property is subject to a judgment of a pending lawsuit by putting a cloud on the title?A writ of attachmentA chain of titleA lis pendensA writ of execution

What must a landlord or homeowner post that informs workers that the homeowner is not responsible for the work being performed?A notice of completionA Certificate of OccupancyA notice of cessationA notice of responsibility

What type of lien can be placed on homeowners who do not pay their home association fees?A security bail bond lienAn HOA lienA municipal utility lienA vendor's lien

Where must a declaration of homestead be filed?The district assessor's officeA title companyThe Office of Housing and Urban Development

The county recorder's office

What type of clause is inserted in a financing document when the lender agrees to waive the right to a deficiency judgement?A release clauseA subordination clauseAn exculpatory clauseA specific clause

What are unsecured claims that take the place alongside the borrower's other debts?Limitation judgementsDeficiency judgementsSale proceedsA writ of execution

In a non-judicial foreclosure, if the previous owner is still living in the home, the new owner must serve a written notice to "quit" or move out within how many days?1030153

What ensures a set monthly payment that remains the same although the actual interest rate may fluctuate throughout the year?A negative amortization capAn interest capA payment capA loan cap

What is defined under Regulation Z as the time that a consumer becomes contractually obligated on a credit transaction?CulminationAccumulationFulfillmentConsummation

Effective October 2015, the two forms that are the primary closing information documents for most real estate transactions are the Loan Estimate andPayment Schedule.Closing Disclosure.Buying Disclosure.Mortgage Statement.

 What describes any lending practice that requires unfair or abusive loan terms to a borrower?Restrictive lendingPredatory lendingSubprime lendingRestructured lending

If a broker is also an escrow agent in a transaction, he or she must put aside any agency relationships with the parties involved and become asubordinate agent.transaction broker.neutral depository.dual agent.

What type of special title insurance policy covers the possibility of a mechanic's lien having priority over a mortgage or deed of trust?An oil and gas interest policyA leaseholder policyA vendee policyAn early issue endorsement

What describes when some expenses paid at closing are divided proportionately between the buyer and seller?AssignDisseminateWithholdProrated

For items paid in advance, the buyer will receive a debit and the seller will receive aa payment.a credit.

an advancement.an acknowledgement.

What is defined under Regulation Z as the time that a consumer becomes contractually obligated on a credit transaction?CommencementActivationConsummationCessation

Which part of a Closing Disclosure details the total amount of all payments on the loan, the dollar amount of the finance charges over the life of the loan, the amount financed, the APR and the TIP?Contact informationConfirm receiptLoan calculationsOther disclosures

What advertising phrase would be considered discriminatory based on a handicap?Fourth-floor walk upJogging trailsWalk-in closetsAble bodied persons only

What Act requires financial institutions to maintain and disclose data about home purchases, home purchase pre-approvals, home improvement and refinance applications involving 1 to 4 unit multifamily dwellings?The Banking Disclosure ActThe Home Mortgage Disclosure ActThe Consumer Protection ActThe Equal Credit Opportunity Act

Who investigates complaints of the Holden Act and takes remedial action as required by law?The Department of Housing and Urban DevelopmentThe Consumer Protection OfficeThe California Secretary of Business, Transportation and HousingThe Department of Commerce

Who distributes the Equal Opportunity Posters to real estate offices?The Office of Equal OpportunityHUDThe Real Estate BoardRESPA

It is important for a licensee or broker to remove ambiguity when a seller's unclear decision could be discriminatory by forcing the seller tocooperate with the buyer.renegotiate the contract.pay the closing costs.articulate his or her concerns.

The best way to avoid fair housing complaints is tobe a member of MLS.treat everyone the same way.be inconsistent.study fair housing law.

California courts have held that if a lease is written, then it must be signed by theleaseholder.lessee.tenant.lessor.

In what type of lease do the rent payments start at a fixed amount but increase as the lease term matures?A gross leaseA graduated leaseA percentage leaseA ground lease

If a landlord's negligence results in an injury to a tenant or a tenant's guest, who is liable?The tenantThe property managerThe landlordThe injured party

What term describes the legal procedure of removing a tenant from a property because there is a breach of the lease or rental agreement?NoticeForeclosureEvictionDisplacement

 What is described as a structure designed for human habitation and for being moved on a street or highway?A manufactured homeA mobile homeA modular homeA residential home

 How many years must a candidate serve as a real estate broker, actively engaged in the real estate business in order to be appointed as Commissioner?4135

The penalties for engaging in unlicensed real estate activity are a fine up to $20,000 and/or how many months imprisonment?2024612

 The total amount of judgements against any individual licensee from the Recovery Fund is limited to$300,000.00$350,000.00$250,000.00$500,000.00

How many years must a broker keep all records from the date of the conclusion of a transaction or listing if the transaction does not close?4 years

3 years5 years6 years