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9 Cards in this Set

  • Front
  • Back
When a tenant voluntarily moves out of his apartment with the intention to never return, it would be described as:

A.Abandonment;


B.Notice to quit;


C.Eviction;


D.Adverse possession.

A.Abandonment;

The court case of Easton v. Strassburger expanded which of the following real estate procedures?


A.Disclosures of economic obsolescence;


B.Selling properties "as is;"


C.Disclosure of all known material facts regarding the physical condition of the property;


D.Advising buyers of their right to have their own inspections.

C.Disclosure of all known material facts regarding the physical condition of the

The reason an appraiser determines the value of an income producing property as of a "given date" is to indicate:


A.The age of the improvements as of a given date;


B.The date the appraiser inspected the property;


C.The market conditions influencing the value of the property as of a given point in time;


D.The value of the seller's equity as of a given date

C.The market conditions influencing the value of the property as of a given point in time;
The owner of land owns riparian rights to water on, under, or adjacent to the land in which of the following?

A.Oceans and bays;


B.Rivers or streams;


C.Underground caves with water;


D.All of the above.

B.Rivers or streams;

A seller is required to deliver the Homeowner's Guide to Earthquake Safety to the buyer of any one-to-four unit residential properties built prior to:

A.1952


B.1960


C.1960


D.1975

B.1960

Which listing must contain this statement, "the amount of our rate of commission is not fixed by law. It is set by each broker individually and may be negotiable between the seller and broker."


A.A listing on a 50 unit apartment building;


B.A listing on a commercial building;


C.A listing on a building used for manufacturing;


D.A listing on one-to-four residential units.ExplanationA listing on one-to-four residential units must contain the disclosure that commissions are negotiable.

D.A listing on one-to-four residential

Linda applied for a real estate loan. The loan application requested her to disclose her race and marital status. What can she do?


A.Refuse to fill out that portion of the loan application;


B.Sue the lender and the real estate broker;


C.Nothing;


D.Completely fill out the loan application if she wants to get the loan.

A.Refuse to fill out that portion of the loan application;

A real estate appraiser reduced his opinion of the value of a home because the local sewer system was in poor condition and in need of repair. This loss in value would be classified as:A.Physical obsolescence;

B.Functional obsolescence;


C.Physical deterioration;


D.Economic obsolescence

D.Economic obsolescence.ExplanationThe loss in value due to the poor sewer system is an external cause and is considered economic obsolescence.

Legally and technically, property is defined as:


A.That which is capable of involuntary transfer;


B.Things with buyers or sellers;


C.Rights or interests which a person has in a thing owned;


D.Only personal property

C.Rights or interests which a person has in a thing owned;Property is defined as "the rights or interests a person has in the thing owned."