Jimbo doesn't yet have a real estate license. Which activity is he legally allowed to perform without one?

A contract for an illegal purpose is ______.

Buyer Ed is reviewing the Loan Estimate he received from the lender he's working with. He notices the loan terms include a prepayment penalty. Because he’s a savvy consumer, which of the following does Ed do?

Jason purchased his dream home six months ago. After Jason received an inheritance from his uncle, he decided to pay off his mortgage. What should he consider before doing this?

What does the Real Estate Advisory Commission do?

Which term refers to the person conveying title, often called the “party of the first part,” in a deed?

Soren is an appraiser. As such, what guidelines must he follow?

Which of the following is the sunshine law based on?

Which of the following pieces of information may you share with the buyer if you are the seller's agent?

Who does a finder represent?

What is it called when a property owner acquires additional land through manmade or natural causes?

Elizabeth’s property is encumbered by an easement in gross with which of these entities?

Rex has a reputation in the community for being a bit odd. He listed his ranch for sale and insisted on the low price he's placed on it, though his agent told him it's underpriced. Rex's distant family hears of the potential sale, and they go through the courts to present evidence that Rex isn't legally competent to manage his business affairs; the judge agrees. What's the status of the listing agreement?

Which of the following elements is always required for a real estate contract to be valid?

Which one of the following is a description of economic depreciation?

Which of the following best explains how the statute of frauds protects consumers?

Orla represents the seller, and Pardeep, an agent from a different firm, represents the buyer in the same transaction. What type of agency relationship does Orla have with her client?

What must you do to convert a percentage to a decimal number?

Joann purchased her house with a mortgage loan from her friendly neighborhood bank. Which of these most likely happened to Joann’s loan soon after she received it from her bank?

What may happen if a property lies in a designated floodplain?

The three companies that track credit for lenders are TransUnion, Equifax, and Experian. Which of the following is a true statement?

Where are mortgages recorded?

Assuming that dual agency is legal where these scenarios occur and that the licensees’ brokerages permit it, which of these situations demonstrates illegal dual agency?

Which economic principle says that value is created and maintained when the characteristics of a property fit in with its surroundings?

Your cousin, Joe, owns a mobile home that he wants to sell, but the park owner told him to take down his “for sale” sign. He knows you’re studying real estate, so he asks you for advice. Where do you recommend Joe start his research?

Which one of the following is a substance found in air fresheners, cleansers, paint, and building materials that at high levels can make indoor air quality toxic?

When it came time to plan the city, Arlene (the agriculture specialist), Robert (the residential guru), and Carmen (the commercial genius) all locked themselves in a room and planned the area together. What type of planning is this?

Which of these two terms describe the dual legal nature of a lease?

The Davises pay the annual property tax of $1,825 on their lake house every January. On a whim, they sell the lake house to the Bennets to buy a Winnebago and travel the country. Closing is set for July 31, and the buyers own the day of closing (pay prorated expenses through the day of closing). Using the calendar year proration method (assume that it's not a Leap year), how much of the pre-paid property tax was the Davises' responsibility?

Joshua won his lawsuit against Savannah. The judge awarded him $30,000. Savannah was unable to pay, so the court placed a ______ on her home.

What generally determines the priority of a lien?

Which of the following defines the term 'lis pendens'?

Property with ownership by more than one person is known as ______.

You have just started a construction project on your property and have hired a contractor to do some of the work. The contractor then brings on several subcontractors to do some of the tasks. What can you do to protect yourself from subcontractor liens should the contractor not pay them?

A buyer in California is purchasing a property for $420,000. Only the county transfer tax applies to this property. What is the amount of the transfer tax?

California law protects tenants at foreclosure by requiring buyers to provide what?

Taylor is the owner of a new apartment building. She has 15 units she needs to lease, so she has enlisted Pablo as her agent. Is Pablo required to give Taylor an agency disclosure form?

Which of these is an example of good consideration?

A property valued at $500,000 is returning a net annual income of $45,000. What is the cap rate for this investment?

In which of these situations did the licensee breach the fiduciary duty of loyalty?

Tres owns a warehouse in an area that is zoned light industrial. With an increased demand for housing in the area, Tres wants to create loft-style condos and have his property designated as residential, even though the surrounding buildings will remain light industrial. What type of zoning is this?

The cost of a parcel of land is 50 cents per square foot. Candace wants to purchase one acre. How much will this cost?

If the sale of a property that includes soybean fields occurs before the crops are ready for harvest, which of the following is the best option for the parties to the transaction to take?

Gary leases a commercial building and pays all expenses related to the building, including taxes and insurance. Gary has a _______.

Your client Joseph has a commercial income-producing property. How long does he depreciate this property?

  

Title VIII of which law prohibits discrimination in the sale, rental, and financing of housing?

What must a developer selling lots to a subdivision in another state do in addition to registering the project with the BRE?

Which of the following is a buyer's agent's task or duty?

What can buyers do to protect themselves from title issues when purchasing property?

Melanie is selling her single-family home. She has hired Damian to represent her as her agent in this transaction. Is Damian required to provide Melanie with an agency disclosure form?

Larry is assisting a buyer who's making an offer on his client's listing. If Larry is too helpful to the buyer, what might occur?

Homes in a new home development have been built with a floor plan that doesn't appeal to today's buyers. In a cost approach valuation of the houses, what sort of depreciation will the appraiser apply?

Another closing appointment is approaching. These clients are purchasing a $160,000 home. If they have a down payment of 25% and the bank charges two points at closing, how much are they paying in points?

Jenson signed a seller agency agreement with Susan. Right before closing, a hurricane destroyed the property. What happened to Jenson and Susan's agreement?

The Simpsons are buying the Martin's house for $415,000, and closing is set for March 15. The Martins have a loan balance of $230,000 at a rate of 4.7% and have prepaid property taxes ($2,506) and insurance ($1,400), and they also have mortgage interest to consider. Using a 365-day proration method, calculate the prorated amount the Simpsons will owe the Martins at closing. Assume February has 28 days this year. The sellers own the day of closing.

Micah’s client often tells him to do things that Micah doesn’t necessarily agree with and that create a lot more work for him. Micah has multiple clients and can’t spend all of his time doing the bidding of just one demanding woman. Micah decides to pick and choose which of his client’s instructions he is going to follow. What might be the consequence if Micah doesn't fulfill his duty of obedience to his client?

Which of the following is a type of zoning action?

Gary has an 80% LTVR on his new $318,000 townhome with an annual interest rate of 4.125%. What’s his interest payment the first month?

If you fail to notify your client of a conflict of interest, in addition to the duty of loyalty, what other duty have you breached?

If Sima entered a plea of no contest in a criminal case she ______.

Tess has $385 in monthly non-housing debt obligations, and her anticipated mortgage payment is $1,103. Her gross income is $7,598, and her net income is $5,815. What’s her total DTI (debt-to-income ratio)?

Rental properties that are less than ______ are exempt from the Tenant Protection Act of 2019.

Which term describes the transfer of possession of rental property?

Which of the following prohibits lenders from discriminating based on protected class status?

The duty of confidentiality survives agency unless the information is known from other sources or ______.

In which type of common interest subdivision are the owner’s shareholders in a corporation that owns the property?

What are building specifications?

A residential tenant decides the 70s-era shag carpeting has to go, rips it up, and replaces it with nail down wood floors. When she moves out, she can’t take the floor with her, because it is what?

Which type of agent is an escrow officer?

Which consumer protection act enacted in 1974 prohibits kickbacks and referral fees and requires written lender disclosure of estimated and final settlement costs?

Which factor influences property value and addresses questions such as, “What's the market like?” and “Are there more buyers than sellers, or vice versa?”

Which of the following describes a universal agent?

If a negotiable instrument is transferrable, it must be ___________.

As a licensee, you'll have several tasks you must perform for your buyer client. One of these tasks is to ______.

Rescission can be a(n) ______ agreement to cancel a contract.

Which one of the following definitions best describes a consumer?

An inheritable freehold estate that's a fee simple defeasible (where the grantor can reclaim ownership) is also known as ______.

Demographics impact the housing market. Which of the following is a true statement?

How large is one square yard?

Stan and Emile are arguing over their shared lot line, since Stan thinks that Emile planted a privet hedge on Stan’s property. Stan filed a civil legal action against Emile. What will the court use to determine the actual lot line?

Which option best defines a statutory lien?

In contract law, when does partial performance occur?

What is an unlawful detainer lawsuit?

Jacqueline found a ready, willing, and able buyer for her client’s condo, with a sales price of $20,000 more than the asking price. However, the appraisal came in just under the asking price. Which number will the lender use to calculate the loan-to-value ratio?

The MARIA acronym helps to identify the five tests of a fixture. Which of the following tests refers to how and whether the item is attached to the property?

Which mortgage clause requires the lender to discharge the mortgage lien once the borrower has paid in full?

Which of the following is an example of the duty of loyalty?

Annette really wants to move to San Francisco, but she’s unsure whether she’ll be able to afford to live there. Housing is very expensive because there simply is no room to build any new housing units. Which economic characteristic does this reflect?

Steven owns 114 acres of wooded, rural land. The abundance of wildlife on his property means that his friends are always asking for permission to hunt on it during various game seasons. If Steven gives a friend permission to hunt on his land, it can be said that he has given his friend a ______.

Which of the following is a property requirement for CalHFA?

What is a principal meridian?

Why is asbestos considered hazardous?

Which of the following is true of agency disclosures?

How do the primary and secondary mortgage markets work together?

Fiona signed a lease with her landlord for a commercial building. A percentage of Fiona’s sales will be paid to the landlord, in addition to her lease payment. Why would Fiona agree to this arrangement?

When must lenders provide borrowers with a disclosure statement regarding finance charges, annual percentage rate, etc.?

How large is a section used in the rectangular government survey system?

Nevina may be creating an implied agency agreement if she does which of these?

How old must an individual be to qualify for a real estate broker license in California?