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California Real Estate - Principles > Chapter 15 > Flashcards

Chapter 15 Flashcards

1
Q

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

A

A. Quitclaim Deed

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2
Q

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. Lein

A

A. Deed

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3
Q

The official proving of a will is also known as a…?

A. Power of Attorney
B. Probate
C. Testate
D. Notice

A

B. Probate

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4
Q

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

A

C. Executor

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5
Q

A person appointed by a court to administer the estate of a one who has died instate is known as a …….?

A. Administrator
B. Trustor
C. Executor
D. Trustee

A

A. Administrator

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6
Q

This is a section of a 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

A

B. 1031 Exchange

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7
Q

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

A

D. Joint Tenancy

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8
Q

To mingle or mix, for example, a client’s funds in the broker’s personal or general account is knowns as ….?

A. Commingling
B. Consideration
C. Escrow
D. Conversion

A

A. Commingling

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9
Q

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

A

D. Civil Rights Act of 1866

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10
Q

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

A

D. Civil Rights Act of 1964

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11
Q

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

A

D. Blockbusting

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12
Q

This is known as the refusal to lend money within a specific area….?

A, Redlining
B. Steering
C. Testing
D. Blockbusting

A

B. Redlining

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13
Q

Regular insurance coverage does NOT cover unrecorded claims…?

A. T
B. F

A

A. True

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14
Q

This occurs when using radical, 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

A

B. Steering

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15
Q

A property manager is an example of a….?

A. General Agent
B. Specific Agent
C. Universal Agent
D. Special Agent

A

A. General Agent

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16
Q

Continuing education is required for all real estate agents in California every…..?

A. 1 year
B. 2 years
C. 3 years
D. 4 years

A

D. 4 years

17
Q

A state law requiring certain contracts to be in writing and signed before they will be enforceable at law is known as the ….?

A. Statue of Law
B. Statue of Limitations
C. Statue of Frauds
D. Statue of Contracts

A

C. Statue of Frauds

18
Q

The ability to sue for the enforcement of the contract is known as….?

A. Enforceability
B. Statue of Limitations
C. Validity
D. Statue of Frauds

A

A. Enforceability

19
Q

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 or another is known as ….?

A. Equitable Remedies
B. Damages
C. Injunction
D. Restitution

A

B. Damages

20
Q

An action to compel performance of an agreement is known as …..?

A. Remedy
B. Injunction
C. Damages
D. Specific Performance

A

D. Specific Performance

21
Q

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

A

A. Injunction

22
Q

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

A

D. All of the above

23
Q

A real estate sales contract is an example of a…..?

A. Implied Contract
B. Unilateral Contract
C. bilateral contract
D. all of the Above

A

C. Bilateral Contract

24
Q

Which of the following is the most widely used deed in California?

A. Tax Deed
B. Quitclaim Deed
C. Grant Deed
D. Warranty Deed

A

C. Grant Deed

25
Q

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

A

D. Fee Simple Estate

26
Q

The deposit of instrument 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

A

B. Escrow

27
Q

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

A

A. Tax Deed

28
Q

A tax deed is an example of a……?

A. Warranty Deed
B. Grant Deed
C. Involuntary Deed
D. Voluntary. Deed

A

C. Involuntary Deed

29
Q

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

A

A. Special Assessment

30
Q

Which of the following is considered an assessment event…?

A. A maximum increase of 2% of the dollar amount of taxes paid
B. Value of improvements
C. At the purchase or sale of a property
D. All the Above

A

D. All the above

California Real Estate - Principles (10 decks)

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