Real Estate Principles Pt 2

Front 1

The rates the borrower is actually paying including interest, points and loan fees is called

Back 1

The effective interest rate

Front 2

In a trust deed the borrower is usually the

Back 2

Trustor

Front 3

What federal case in 1968 uphill of the 1866 civil rights act

Back 3

Johns versus mayor

Front 4

A condominium does not have

Back 4

Private ownership of land and improvements

Front 5

The closing date is

Back 5

The date the documents are recorded

Front 6

Which of the following is not a duty of the escrow company

Back 6

Negotiating broker fees

Front 7

The real estate commissioner

Back 7

Enforces the real estate law

Front 8

Any sale of substantial part of inventory or other supplies and equipment associated with a business

Back 8

Is a bulk sale or transfer

Front 9

When in improvement is permanently attached to real property it becomes

Back 9

Real property

Front 10

Which of the following is not recognized legal methods of land description

Back 10

Satellite tracking

Front 11

The housing financial discrimination act prohibits

Back 11

Redlining

Front 12

Rental agreements are designed for Estates

Back 12

From period to period

Front 13

A leasee making payments based on gross monthly income has a

Back 13

Percentage lease

Front 14

If the exact terms of the listing agreement or met the listing broker is entitled to a commission even if the

Back 14

Owner refuses to sell to the buyer

Front 15

All material facts affecting the value and desirability of the property must be disclosed on the

Back 15

Transfer disclosure statement

Front 16

Which of the following online real estate search websites owned by NAR uses information from MLS data

Back 16

Realtor.com

Front 17

If you made 70% profit on the 76,000 in sale of the lot how much did you pay for the lot

Back 17

64,957

Front 18

Income producing property owners can deduct which of the following from their federal income taxes

Back 18

All of the above

property taxes

prepayment penalty’s

Depreciation of building improvements

Front 19

That’s an EER is used to measure

Back 19

Energy efficiency

Front 20

What do 90% of all homebuyers do before contacting a real estate agent

Back 20

Search the web

Front 21

A lien placed on more than one parcel, all parcels having the same owner is known as a

Back 21

Blanket encumbrance

Front 22

When someone is performing on authorize work on your property you should file a

Back 22

Notice of non-responsibility

Front 23

Demand the sources for real estate loans include loans for

Back 23

All of the above

Front 24

The canceling of an offer to contract by their original offer is called

Back 24

Revocation

Front 25

In ownership interest in real property that only exist for the life of any designated person or persons is called

Back 25

Life estate

Front 26

What is the legal process of making in instruments on official part of and county records

Back 26

Recording

Front 27

The Sales person exam requires what percent of correct answers to pass

Back 27

70%

Front 28

A lease purchase option is the

Back 28

Right to purchase the property

Front 29

Of the following who is permitted to purchase property in California without court approval

Back 29

Foreign persons aliens

Front 30

A counter offer

Back 30

All of the above

Front 31

The seller must provide the buyer of a condominium with

Back 31

All of the above which requires the CC&RS the bylaws, a copy of the most recent financial statement

Front 32

If a broker were to say to a prospect of buyer I think this is the best house on the street the statement would be considered

Back 32

Exaggeration of benefits puffing

Front 33

If the prospective investor of real property is most concerned with making money off the usefulness of the improvements he or she would be most concerned with

Back 33

Economic life remaining in the improvements

Front 34

The most difficult part of the cost approach is

Back 34

Estimating depreciation of older buildings

Front 35

A recorded public history of a specific property is called a

Back 35

Chain of title

Front 36

In a sale leaseback the original property owner

Back 36

Because the Lesssee

Front 37

CC&RS referred to

Back 37

Covenants conditions and restrictions

Front 38

A mechanics lien is filed against that

Back 38

Property

Front 39

Prior to receiving communication of its acceptance a buyer can with drawl in Offer

Back 39

All of the above which includes personally, by registered mail, in writing

Front 40

Which of the following is not a section in Township starting points in California

Back 40

Blythe

Front 41

The current status of items from the county records of fighting the properties title is called the

Back 41

Preliminary title report

Front 42

What must a potential listing agent do if a seller requires the agent to discriminate

Back 42

Refuse the listing

Front 43

If you have an outstanding bank loan of 56,500 with monthly payments of 500 a month, of which $43.76 is applied to principle what is the interest rates on the loan

Back 43

9.69%

Front 44

When a married couple sells their residence after living in it for two of the last five years that, they don’t have to pay capital gains for a profit up to

Back 44

500,000

Front 45

Compared to ordinary income tax rates capital gains taxes are

Back 45

Lower

Front 46

Real property is assessed

Back 46

Each time it is sold. Add 100% of its selling price or market value, which ever is higher.