chap15

Question 1

A deed to relinquish any interest in property with the grantor without interference of possession is known as a…?
A Quitclaim Deed
B Warranty Deed
C Injunction
D Contract

Answer 1

Quitclaim Deed

Question 2

A written instrument which when properly executed and delivered conveys title to real property from one person (grantor) to another (grantee) is known as a…?
A Deed
B Injunction
C Acknowledgement
D Lien

Answer 2

deed

Question 3

The official proving of a will is also known as…?
A Power of Attorney
B Probate
C Testate
D Notice

Answer 3

probate

Question 4

A person or institution appointed by a testator to carry out the terms of their will is known as a…?
A Administrator
B Trustor
C Executor
D Trustee

Answer 4

executor

Question 5

A person appointed by a court to administer the estate of a one who has died intestate is known as a…?
A Administrator
B Trustor
C Executor
D Trustee

Answer 5

Administrator

Question 6

This is a section of the U.S. Internal Revenue Service Code that allows investors to defer capital gains taxes on any exchange of like-kind properties for business or investment purposes…?
A 940 Exchange
B 1031 Exchange
C 1099 Exchange
D Chapter 11 Exchange

Answer 6

B 1031 Exchange

Question 7

When two or more natural persons own property that comes with a special benefit called the right of survivorship, it is referred to as a…?
A Joint Venture
B Tenancy in Common
C Tenancy in Entirety
D Joint Tenancy

Answer 7

Joint Tenancy

Question 8

To mingle or mix, for example, a client’s funds in the broker’s personal or general account is known as…?
A Commingling
B Consideration
C Escrow
D Conversion

Answer 8

Commingling

Question 9

This federal law prohibited all discrimination on the basis of race only…?
A Civil Rights Act of 1866
B Civil Rights Act of 1964
C Civil Rights Act of 1969
D Federal Fair Housing Act

Answer 9

Civil Rights Act of 1866

Question 10

This Act prohibited discrimination on the basis of race, sex, color, national origin, or gender in any housing program receiving federal money…?
A Civil Rights Act of 1866
B Civil Rights Act of 1964
C Civil Rights Act of 1969
D Federal Fair Housing Act

Answer 10

civil Rights Act of 1964

Question 11

This is known as the use of prejudice to instill fear, or panic (also known as panic selling), in order to motivate individuals in a particular area or neighborhood to sell or dispose of their property because of the entrance, or potential entry, of a protected class…?
A Redlining
B Steering
C Testing
D Blockbusting

Answer 11

Blockbusting

Question 12

This is known as the refusal to lend money within a specific area…?
A Redlining
B Steering
C Testing
D Blockbusting

Answer 12

Redlining

Question 13

Regular insurance coverage does NOT cover unrecorded claims…?
AT (True)
BF (False)

Answer 13

true

Question 14

This occurs when using racial, ethnic, or religious criteria in suggesting, recommending, and/or influencing individuals regarding locations for the purchase or rental of a single family residence or rental dwelling…?
A Redlining
B Steering
C Testing
D Blockbusting

Answer 14

Steering

Question 15

A property manager is an example of a…?
A General Agent
B Specific Agent
C Universal Agent
D Special Agent

Answer 15

General Agent

Question 16

Continuing education is required for all real estate agents in California every…?
A 1 year
B 2 years
C 3 years
D 4 years

Answer 16

4

Question 17

A state law requiring certain contracts to be in writing and signed before they will be enforceable at law is known as the…?
A Statute of Law
B Statute of Limitations
C Statute of Frauds
D Statute of Contracts

Answer 17

Statute of Frauds

Question 18

The ability to sue for the enforcement of the contract is known as…?
A Enforceability
B Statute of Limitations
C Validity
D Statute of Frauds

Answer 18

Enforceability

Question 19

The indemnity recoverable by a person who has sustained an injury, either in his or her person, property, or relative rights, through the act or default of another is known as…?
A Equitable Remedies
B Damages
C Injunction
D Restitution

Answer 19

Damages

Question 20

An action to compel performance of an agreement is known as…?
A Remedy
B Injunction
C Damages
D Specific Performance

Answer 20

Specific Performance

Question 21

This is a writ or order issued under the seal of a court to restrain one or more parties to a suit or proceeding from doing an act which is deemed to be inequitable or unjust in regard to the rights of some other party or parties in the suit or proceeding…?
A Injunction
B Rescission
C Encroachment
D Restitution

Answer 21

Injunction

Question 22

Which of the following is an element of a valid contract…?
A A lawful objective
B Consideration
C Mutual assent
D All of the Above

Answer 22

All of the Above

Question 23

A real estate sales contract is an example of a…?
A Implied Contract
B Unilateral Contract
C Bilateral Contract
D All of the Above

Answer 23

Bilateral Contract

Question 24

Which of the following is the most widely used deed in California…?
A Tax Deed
B Quitclaim Deed
C Grant Deed
D Warranty Deed

Answer 24

Grant Deed

Question 25

Absolute ownership of real property is also known as a...? A Life Estate B Fee Simple Determinable C Fee Simple on Condition D Fee Simple Estate

Answer 25

Fee Simple Estate

Question 26

The deposit of instruments and/or funds with instructions with a third neutral party to carry out the provisions of an agreement or contract is known as...? A Title Insurance B Escrow C Actual Notice D Probate

Answer 26

Escrow

Question 27

The deed given to a purchaser at a public sale of land held for nonpayment of taxes is known as a...? A Tax Deed B Grant Deed C Quitclaim Deed D Warranty Deed

Answer 27

Tax Deed

Question 28

A tax deed is an example of a...? A Warranty Deed B Grant Deed C Involuntary Deed D Voluntary Deed

Answer 28

Involuntary Deed

Question 29

A legal charge against real estate by a public authority to pay for the cost of public improvements such as street lights, sidewalks, and street improvements is known as a...? A Special Assessment B Police Power C Capital Gain D Civil Tax

Answer 29

Special Assessment