45-HR. CA REAL ESTATE PRACTICE COURSE » Summer 2021 » Section 6 Unit 2 Exam

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Question #1
A homebuyer in California learns the home is subject to a Mello-Roos assessment. What does this mean?
A.   The property is located in a community that has funded improvements with a voter-approved bond.
B.   The property is located in a community that has a homeowners association.
C.   The buyer will pay an additional transfer tax at closing.
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.   Mello-Roos
B.   average utilities
C.   pet damage
D.   unpaid taxes
Question #3
Which statute was enacted in 1885 and had provisions for the addition of sewers and finishing of street surfaces?
A.   The Improvement Bond Act
B.   Mello-Roos
C.   Street Improvement Act
D.   Vrooman Street Act
Question #4
What’s NOT true about the Mello-Roos Community Facilities Act?
A.   Property owners pay this assessment as a separate ad valorem tax.
B.   It uses a voter-approved bond to fund services and facilities for the community.
C.   It allows communities to fund general improvements.
D.   A Community Facilities District must be designated.

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