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 Foreclosure
C.   Notice of Sale
D.   Notice of Delinquency
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 one year
B.   Within 20 days
C.   Within six months
D.   Within 90 days
Question #3
Who has the right to make the first bid during a trustee’s sale in California?
A.   The trustee
B.   The trustors (borrowers)
C.   The beneficiary (lender)
D.   Anyone
Question #4
What is the process used to sell a foreclosure home in California called?
A.   Fire sale
B.   Trustee's sale
C.   Default 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.   General
B.   Vendor's
C.   Voluntary
D.   Special assessment
Question #6
Which action can be taken if you don't pay a lien against your property?
A.   Accretion
B.   Condemnation
C.   Eminent domain
D.   Foreclosure
Question #7
How can a foreclosure be stopped or prevented?
A.   Refinancing
B.   Auction
C.   Fleeing the state
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.   30 days
B.   60 days
C.   10 days
D.   90 days

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