California Real Estate Exam - Quiz 30 - Patriz Reyes
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Question 1 of 10
1. Question
Which one of the following properties are likely to value the highest percentage of capitalization?
Correct
The strip mall would have the highest risk and would therefore have the highest percentage of capitalization. A single-family residence could be assessed using the sales comparison approach.
Incorrect
The strip mall would have the highest risk and would therefore have the highest percentage of capitalization. A single-family residence could be assessed using the sales comparison approach.
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Question 2 of 10
2. Question
A resident applicant, bound to a wheelchair, is engaged in renting a townhouse. A proposal is made to the landlord to allow the occupant to create an access ramp. Which one of the following is true in this situation?
Correct
As long as the applicant pays, there is no infringement of building codes and the tenant agrees to return the property to its original state, the landlord must authorize the ramp.
Incorrect
As long as the applicant pays, there is no infringement of building codes and the tenant agrees to return the property to its original state, the landlord must authorize the ramp.
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Question 3 of 10
3. Question
Which of the following statements are not an exemption to the Federal Housing Act?
Correct
The Fair Housing Amendments Act 1988 forbids discrimination on the grounds of Family status.
Incorrect
The Fair Housing Amendments Act 1988 forbids discrimination on the grounds of Family status.
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Question 4 of 10
4. Question
How MIP is any different from PMI?
Correct
MIP is paid on FHA loans; PMI applies on most conventional mortgages
Incorrect
MIP is paid on FHA loans; PMI applies on most conventional mortgages
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Question 5 of 10
5. Question
Walk-through is generally referred to as?
Correct
The sales contract shall include a clause giving the customer a walk-through within 24 hours of the closing date.
Incorrect
The sales contract shall include a clause giving the customer a walk-through within 24 hours of the closing date.
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Question 6 of 10
6. Question
An article of private property that has been permanently attached to, and then becomes part of real estate is known as?
Correct
Emblements are yearly crops, accretion refers to land produced by residual soils, and chattel is another word for private property.
Incorrect
Emblements are yearly crops, accretion refers to land produced by residual soils, and chattel is another word for private property.
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Question 7 of 10
7. Question
Changes in zoning should result in compensation to the owner on which of the following?
Correct
If the house is rezoned in such a way that it severely restricting land use, it can be deemed the same as being condemned or “taken away.” This is a legal issue.
Incorrect
If the house is rezoned in such a way that it severely restricting land use, it can be deemed the same as being condemned or “taken away.” This is a legal issue.
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Question 8 of 10
8. Question
One of the following choices is an instance of a seller’s closing credit statement. Which one is it?
Correct
A credit is the sum of money that is to be expected of a party at settlement.
Incorrect
A credit is the sum of money that is to be expected of a party at settlement.
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Question 9 of 10
9. Question
The salesmen in Al’s brokerage company work as independent contractors. Most definitely, their office will supply them with which of the following?
Correct
An independent contractor may not receive anything that would be similar to an employee benefit.
Incorrect
An independent contractor may not receive anything that would be similar to an employee benefit.
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Question 10 of 10
10. Question
The Management Agreement is responsible to all of the following except which one?
Correct
The manager needs to stop disagreements to interest in declining to accept gratuities of the manufacturers.
Incorrect
The manager needs to stop disagreements to interest in declining to accept gratuities of the manufacturers.