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CA Real Estate License Mock Exam Rated A+

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CA Real Estate License Mock Exam Rated A+ A contract created under duress is: ✔✔voidable Of the following, which is most correct concerning the Statute of Frauds? ✔✔It classifies most oral... real estate contracts as unenforceable. When a seller sells his home "as is," which of the following is true? ✔✔The seller must still give the buyer a real estate transfer disclosure statement. Which of the following would be the most favorable lease for an owner of an improved business property located in a rapidly growing area? ✔✔% lease based on the gross income with a minimum rental guarantee and the lessee to pay the taxes Ms. John gives a life estate to her sister for the life of Charlie, her sister's friend. The life tenant dies. What interest does Ms. John hold in the property? ✔✔Fee Simple Estate A broker who is employed by the seller is liable to the buyer if: ✔✔he acts in excess of the terms of his contract The economic life of an average frame building is: ✔✔40 years Long term loans to be issued by one lender upon completion of the interim construction financing by another lender are known as: ✔✔take out loans Depreciation is defined as a loss of value due to any cause. It is also classified as curable and incurable. Of the following statements concerning depreciation, which one is correct? ✔✔Bearing walls sagging beyond a 30-degree angle is an example of physical deteriorationincurable. Which of the following may a minor be able to undertake without court approval? ✔✔Acquisition of real property through gift or inheritance All of the following actions would be in violation of Real Estate Law, except: ✔✔a CA real estate broker sharing a commission with a licensed broker in Wyoming who assisted in completing a real estate transaction. A lien cannot be: ✔✔performance Seller Chris listed a vacant lot with a broker at $111,400. Prospective buyer Jordan submitted an offer of $111,000 that was to expire in three days. The next day, Chris made a counteroffer of $111,200. When Jordan did not respond within the thr [Show More]

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