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

Need help with your exam preparation?

Question #1
A homebuyer in California learns the home is subject to a Mello-Roos assessment. What does this mean?
A.   The property tax is not restricted by the normal base value limits.
B.   The property is located in a community that has funded improvements with a voter-approved bond.
C.   The buyer will pay an additional transfer tax at closing.
D.   The property is located in a community that has a homeowners association.
Question #2
Sellers of single to four-family dwellings must disclose _________.
A.   unpaid taxes
B.   pet damage
C.   Mello-Roos
D.   average utilities
Question #3
Which statute was enacted in 1885 and had provisions for the addition of sewers and finishing of street surfaces?
A.   Street Improvement Act
B.   Vrooman Street Act
C.   The Improvement Bond Act
D.   Mello-Roos
Question #4
What’s NOT true about the Mello-Roos Community Facilities Act?
A.   It allows communities to fund general improvements.
B.   It uses a voter-approved bond to fund services and facilities for the community.
C.   Property owners pay this assessment as a separate ad valorem tax.
D.   A Community Facilities District must be designated.

Need help with your exam preparation?