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10 Cards in this Set
- Front
- Back
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A broker selling a property on which he holds an option should notify the purchaser that he is acting as:
a) an optionor b) a mortgagor c) a beneficiary d) a principal |
d) A Principal
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As used in real estate practices, the land of a riparian owner borders on:
a) a river b) a stream c) a watercourse d) any of the above |
d) Any of the above
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A quitclaim deed conveys only the present right, title and interest of the:
a) grantor b) servient tenement c) grantee d) property |
d) Property
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If a $54,600 investment in real estate generates gross annual earnings of 15%, the gross monthly return most nearly is:
a) $819 b) $705 c) $685 d) $637 |
a) $819
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You are a California real estate broker. A prospect is referred to you by an out-of state broker and a sale is consummated by you. You want to split your commission with the cooperating broker. Under the California Real Estate Law:
a) you may pay a commission to a broker of another state b) you cannot divide a commission with a broker of another state c) you can pay a commission to a broker of another state only if he is also licensed in California d) none of the above |
a) You may pay a commission to a broker of another state
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A loan to be completely repaid, principal and interest, by a series of regular equal installment payments is a:
a) straight loan b) balloon payment loan c) fully amortized loan d) variable rate mortgage loan |
c) Fully amortized loan
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In a legal sales contract, the seller is often referred to as the:
a) divisor b) donor c) vendor d) trustor |
c) Vendor
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Community property is property owned by:
a) the municipality b) husband and wife c) churches d) the community |
b) Husband and wife
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An apartment complex cost $450,000. It brings in a net income of $3,000 per month. The owner is making what percentage of return on the investment?
a) 7% b) 8% c) 11% d) none of the above |
d) None of the above
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A person holding title to real property in severalty would most likely have:
a) a life estate b) an estate for years c) ownership in common with others d) sole ownership |
d) Sole ownership
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