All of the following are ways by which an offer to purchase real estate would be terminate, except -
✔✔Failure to communicate notice of revocation before the other party has communicated his or her
acceptance
When usi
...
All of the following are ways by which an offer to purchase real estate would be terminate, except -
✔✔Failure to communicate notice of revocation before the other party has communicated his or her
acceptance
When using their closing statement, escrow would debit the seller of income property for which of the
following items - ✔✔Prepaid rent
When a Cal-Vet wishes to purchase a home and use his California veteran's benefit he would make the
application to - ✔✔Department of Veterans Affairs
Which of the following loans would most likely be made without requiring down payment from the
borrower - ✔✔VA Loan
Recorded title to a parcel of property was vested in Mary Wilson a single woman. After her marriage to
John Roberts she executed a deed to the property only in the name of Mary Roberts, a married woman.
The discrepancy in the grantor's name is - ✔✔A defect, which may cause a cloud on the title
If a salesperson wishes to advertise his or her services, the advertisement must include - ✔✔The brokers
name
Which of the following statements is incorrect with regard to an "in-house" sale - ✔✔The listing broker
can be the agent of the buyer only
For income tax purposes, capital expenditures for improvements & alterations are - ✔✔Added to the
"cost basis" of the property
The document which transfers title but contains no express or implied warranties is a - ✔✔Quitclaim
deedLand, which is subject to an easement is said to be - ✔✔Encumbered
After completion of a new building in which the owner did not record a Notice of Completion, any
unpaid claimant must file a Mechanics's Lien within - ✔✔90 days
Mr. Smith employed the XYZ Pool Construction Company to install a swimming pool at his home. After
completion, the contractor filed a lien to obtain payment of the contract price. The encumbrance
created was - ✔✔A specific lien
Which of the following has control over the approval of a subdivision under the Subdivision Map Act? -
✔✔Planning Commission
Mutual mortgage insurance on a FHA loan - ✔✔Protects the lender against ant deficiency in the event of
default
A Land developer offers a free prize to anyone who replies to his direct mail advertisement & visits his
subdivision site. Prior to awarding the prize, however, the developer requires the party to attend a sales
presentation at the site. Then sales presentation requirement was not mentioned anywhere in the
advertisement. This type of promotion is - ✔✔Illegal because it did not disclose the sales representation
attendance requirement
Which of the following statements most accurately describes mortgage companies who act as mortgage
loan correspondents. Such companies - ✔✔Prefer negotiating loans ,which are sold on the secondary
market
A real estate broker who desires to operate a real estate office that is both competitive & profitable, is
vitally concerned with "Desk Cost'. "Desk Cost" is calculated by dividing the - ✔✔Total cost of rent,
utilities, telephone advertising & other operating expense by the number of salespersons
Which of the following would a tenant in an apartment building & an owner in a condominium project
have in common - ✔✔Both have an estate in real property
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