Introduction to Real Estate Question Bank
Course Introduction
Introduction to Real Estate offers students a comprehensive overview of the fundamental principles and practices that shape the real estate industry. The course explores key topics such as property ownership, land use, legal rights and responsibilities, market analysis, finance, brokerage, and real estate valuation. Students will learn about the different types of real estate assets including residential, commercial, and industrial properties and examine the career opportunities and ethical considerations within the field. By the end of the course, students will have a foundational understanding of how real estate markets function and the crucial role real estate plays in the economy and society.
Recommended Textbook
California Real Estate Principles 9th Edition by Dennis
J. McKenzie
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15 Chapters
624 Verified Questions
624 Flashcards
Source URL: https://quizplus.com/study-set/3880 Page 2
Chapter 1: Introduction to Real Estate
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45 Verified Questions
45 Flashcards
Source URL: https://quizplus.com/quiz/77312
Sample Questions
Q1) The right to a reasonable use of the surface waters upon which a property owner's land borders is called:
A) riparian rights
B) the right of correlative user
C) the right of appropriation
D) the right of emblements
Answer: A
Q2) An owner sells land, but reserves the mineral rights. Based on this, which of the following is true?
A) the mineral rights are owned by the grantee
B) the mineral rights are the personal property of the grantor
C) the grantor owns the mineral rights as joint tenants with the grantee
D) the mineral rights are the real property of the grantor
Answer: D
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Chapter 2: Part I: Legal Description, Method of Acquiring
Title , and Deeds
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69 Verified Questions
69 Flashcards
Source URL: https://quizplus.com/quiz/77311
Sample Questions
Q1) For a married couple, community property rules include all of the following except:
A) property acquired by gift after marriage can be separate property
B) each spouse must will their interest to the surviving spouse if title is held without the right of survivorship
C) it takes the signature of both spouses to sell community property
D) each spouse has the equal right to manage community property
Answer: B
Q2) Assume a brother and sister own title in a commercial property as joint tenants. The brother marries and deeds his interest to himself and his new wife. The sister now holds title in the property as:
A) community property as to 1/4 interest
B) ownership in severalty
C) joint tenant
D) tenant in common
Answer: D
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Chapter 3: Encumbrances, Liens, and Homesteads
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40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/77310
Sample Questions
Q1) Assume that there is a lot 75 feet wide and 100 feet deep at the corner of Oak and 10th Streets. There is a 10-foot easement along Oak Street and a 20-foot easement along 10th Street. How many square feet are there in the lot?
A) 7,500 sq. ft.
B) 5,200 sq. ft.
C) 4,950 sq. ft.
D) 4,400 sq. ft.
Answer: A
Q2) Which of the following two terms go together?
A) taxes - voluntary lien
B) police power - public restrictions
C) eminent domain - private restrictions
D) mechanics' lien - general lien
Answer: B
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Chapter 4: Real Estate Agency
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40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/77309
Sample Questions
Q1) An easement is valid for
A) ten years
B) three years
C) indefinitely
D) as long as you own the property
Q2) Per the Real Estate Commissioner's regulations, a broker must:
A) keep a formal cash receipts/cash disbursement journal
B) maintain a trust fund account in a bank
C) maintain a minimum balance in the trust fund
D) all of the above
Q3) At the time of the listing agreement, the seller informed the broker that the floors beneath the wall-to-wall carpets were oak. While showing the property to a buyer, the broker stated, "the floors are oak." After the sale the buyer went to replace the carpet and discovered that the floors were pine. Responsibility for the mistake rests with:
A) broker and seller
B) broker only
C) seller only
D) buyer, as he or she is charged with making reasonable inspection of property
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6
Chapter 5: Real Estate Contracts and Mandated
Disclosures
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40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/77308
Sample Questions
Q1) According to the exclusive right to sell CAR Residential Listing Agreement, a real estate broker is entitled to the commission if the property is:
A) withdrawn from the market with the mutual consent of the seller and the listing agent
B) sold during the listing period
C) destroyed due to a natural hazard
D) found to be unmarketable by a title company
Q2) When a buyer is purchasing a condominium or PUD, said buyer must be given which of the following regarding the CC&Rs, homeowner dues, and financial and legal status of the homeowner's association?
A) Seller Financing Addendum and Disclosure Statement
B) Common Interest Development General Information
C) Natural Hazard Disclosure Statement
D) Real Estate Transfer Disclosure Statement
Q3) Under an option agreement, the grantor/owner of the property is the:
A) optionee
B) option holder
C) option owner
D) optionor
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Chapter 6: Practical Real Estate Mathematics
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40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/77307
Sample Questions
Q1) A 1/4 acre lot sold for $6 per square foot. The commission was 10%. How much did the broker make?
A) $6,534
B) $4,356
C) $3,794
D) $3,026
Q2) A home owner purchased a rural parcel and borrowed 60% of the price using an interest only loan. The loan has an interest rate of 10% and the total interest paid the first year is scheduled to be $5,400. What was the purchase price?
A) $70,500
B) $62,000
C) $90,000
D) $54,000
Q3) A lot is sold for $180,000, making a 20% profit over cost. What was the cost?
A) $136,000
B) $144,000
C) $148,000
D) $150,000
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8
Chapter 7: Introduction to Real Estate Finance
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34 Verified Questions
34 Flashcards
Source URL: https://quizplus.com/quiz/77306
Sample Questions
Q1) Which of the following regarding a Trustee's Sale is false?
A) the sale must be advertised in a newspaper of general circulation in the area
B) after the sale, the dispossessed owner has a one-year right of redemption
C) the sale must be held in a public place
D) the beneficiary doing the foreclosing is allowed to submit the loan balance and foreclosure costs instead of cash
Q2) Which of the following words expresses a meaning most completely opposite to the term "alienation"?
A) amortization
B) ad valorem
C) acquisition
D) acceleration
Q3) A type of financing instrument in which the owner (vendor) retains the legal title until the buyer (vendee) fulfills the terms of the purchase contract:
A) lease contract
B) installment sales contract
C) wraparound contract
D) junior lien contract
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9
Chapter 8: Part I: Real Estate Lenders
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40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/77305
Sample Questions
Q1) A mortgage broker negotiated a loan for $10,000, secured by a second trust deed to be paid in 30 monthly payments. The maximum commission the broker is permitted to charge is:
A) $195
B) $390
C) $700
D) $1,000
Q2) Under the Real Property Loan Law, the maximum amount a borrower can pay for closing costs, excluding commission, regardless of the size of the loan, is:
A) 5%
B) $390
C) $700
D) $900
Q3) Which of the following types of loans are made only to individuals who are intending to occupy the property as a personal residence?
A) VA
B) conventional
C) purchase money
D) jumbo
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Page 10
Chapter 9: Real Estate Appraisal
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40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/77304
Sample Questions
Q1) The appraisal principle that states that the value of a property tends to be influenced by the price of acquiring an equally desirable property:
A) principle of supply and demand
B) principle of highest and best use
C) principle of substitution
D) principle of change
Q2) In the cost approach, the most difficult item to measure accurately is:
A) square footage
B) accrued depreciation
C) lot size
D) replacement cost
Q3) In a small country town, an appraiser was asked to place a value on the Town Hall. It was a beautiful building with unique Roman architecture. Which approach would the appraiser most likely emphasize?
A) cost
B) capitalization
C) comparison
D) gross rent multiplier
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11
Chapter 10: The Role of Escrow and Title Insurance Companies
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40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/77303
Sample Questions
Q1) Most homeowners in California have which type of title insurance policy?
A) ALTA lender's
B) ALTA owner's
C) CLTA lender's
D) CLTA owner's
Q2) Which of the following is a recurring closing cost?
A) Fire insurance
B) Recording fees
C) Notary fees
D) Appraisal fee
Q3) Prepaid property taxes would appear as a prorated:
A) credit to buyer
B) debit to buyer
C) debit to seller
D) charge to lender
Q4) An appraisal is good for what amount of time
A) six months
B) three months
C) the day it is signed by the appraiser
D) it depends on the lender
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Chapter 11: Landlord and Tenant Relations
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40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/77302
Sample Questions
Q1) Which law prohibits a real estate agent from receiving a referral fee from an escrow or title company?
A) Truth in Lending
B) Regulation Z
C) RESPA
D) all of the above
Q2) A professional property manager
A) is required to have a real estate license
B) must reside on the premises
C) is typically a salaried employee of the property owner
D) all charge the same amount for their services
Q3) Ms. Estes owned a fee simple estate and leased it to Mr. Eaton for six years. Ms. Estes has:
A) a remainder interest
B) a fee simple estate
C) an estate in joint tenancy
D) a less-than-freehold estate
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Chapter 12: Land-Use Planning, Subdivisions, Fair Housing, and
Other Public Controls
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39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/77301
Sample Questions
Q1) Which would be the best example of a breach of habitability?
A) pool furniture
B) missing hand railings
C) poor lighting
D) inoperable plumbing
Q2) If a city planning commission turns down a variance request, the next level of appeal is to the:
A) city engineer
B) city assessor
C) city council
D) courts
Q3) It is illegal to screen and eliminate potential tenants based on:
A) income levels
B) credit rating
C) past delinquent rental history
D) marital status
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Chapter 13: Introduction to Taxation
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39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/77300
Sample Questions
Q1) A law used to finance public services in newly developed areas that can lead to high assessments for the affected owners is called:
A) Mello-Roos
B) Holden-Aspen
C) Alvareze-Greene
D) Brown-Miller
Q2) A seller's current real estate tax is $1,175 per year including the homeowner's exemption. The condo is sold to a buyer for $197,500. Assuming no local assessments are added to the tax bill, what will be the buyer's real property tax bill including the homeowner's exemption?
A) $1,975
B) $1,905
C) $1,175
D) $1,050
Q3) Federal income taxes are referred to as a:
A) progressive tax
B) regressive tax
C) proportionate tax
D) equalized tax
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Page 15
Chapter 14: Single-Family Homes and Mobile Homes
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39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/77299
Sample Questions
Q1) The second installment of real property taxes is delinquent if not paid by:
A) November 1
B) December 10
C) February I
D) April 10
Q2) One advantage a two-story home has over a one-story home is:
A) usually less cost per square foot to build
B) ease of access to the roof
C) convenient floor plan for disabled people
D) easier to maintain
Q3) In the construction of a frame house, the short horizontal 2" x 4" boards above a window opening are commonly called a lintel or a:
A) cripple
B) sole plate
C) header
D) fire stop
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Page 16
Chapter 15: A Career in Real Estate
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39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/77298
Sample Questions
Q1) A real estate broker's license enables a person to handle the sale of:
A) registered mobile homes
B) business opportunities
C) trust deeds
D) all of these
Q2) A real estate broker's license is issued for:
A) 2 years
B) 4 years
C) 6 years
D) life
Q3) The fine for an unlicensed person who receives an illegal commission is:
A) $100
B) $1,000
C) $20,000
D) $50,000
Q4) If an applicant fails an examination, he or she:
A) may not apply for a re-examination at any time
B) must wait a reasonable time after failure notice to apply
C) may apply for a re-examination immediately after notification of failure
D) is limited as to the number of times that an examination may be taken
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