The CE Shop » Sales License » 45-HR. CA REAL ESTATE PRACTICE COURSE » Summer 2021

Question #1

A homebuyer in California learns the home is subject to a Mello-Roos assessment. What does this mean?

A. The buyer will pay an additional transfer tax at closing.

B. The property is located in a community that has funded improvements with a voter-approved bond.

C. The property is located in a community that has a homeowners association.

D. The property tax is not restricted by the normal base value limits.

Question #2

Sellers of single to four-family dwellings must disclose _________.

A. unpaid taxes

B. Mello-Roos

C. average utilities

D. pet damage

Question #3

Which statute was enacted in 1885 and had provisions for the addition of sewers and finishing of street surfaces?

A. Vrooman Street Act

B. Mello-Roos

C. The Improvement Bond Act

D. Street Improvement Act

Question #4

What’s NOT true about the Mello-Roos Community Facilities Act?

A. A Community Facilities District must be designated.

B. It allows communities to fund general improvements.

C. It uses a voter-approved bond to fund services and facilities for the community.

D. Property owners pay this assessment as a separate ad valorem tax.