CA Real Estate Principles Course » 2021 » Section 9 Unit 2 Exam

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Question #1
In California, what is filed by the trustee to notify borrowers that the foreclosure process will begin?
A.   Notice of Default
B.   Notice of Delinquency
C.   Notice of Sale
D.   Notice of Foreclosure
Question #2
How long after a project begins must a contractor give the owner preliminary notice of their right to file a mechanic’s lien in California?
A.   Within 20 days
B.   Within 90 days
C.   Within six months
D.   Within one year
Question #3
Who has the right to make the first bid during a trustee’s sale in California?
A.   Anyone
B.   The trustors (borrowers)
C.   The beneficiary (lender)
D.   The trustee
Question #4
What is the process used to sell a foreclosure home in California called?
A.   Default sale
B.   Trustee's sale
C.   Fire sale
D.   Referee's sale
Question #5
One of Jackie’s creditors sued her in civil court. As a result of the judgment against her, her house, car, and art collection were all subject to sale in order to pay the creditor. What type of lien is this?
A.   Special assessment
B.   Voluntary
C.   General
D.   Vendor's
Question #6
Which action can be taken if you don't pay a lien against your property?
A.   Condemnation
B.   Foreclosure
C.   Accretion
D.   Eminent domain
Question #7
How can a foreclosure be stopped or prevented?
A.   Fleeing the state
B.   Auction
C.   Refinancing
D.   Paying all outstanding liens against the property
Question #8
Frank has waited 30 days after notifying a client that the project he finished remains unpaid. The client has not filed a notice of completion or cessation with the county clerk. How long does Frank have left to file a mechanic’s lien?
A.   60 days
B.   90 days
C.   10 days
D.   30 days

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