Property Ownership & Land Use Controls & Regulations

Question 1

Is a grant deed signed by a single person under the age of 18 valid?

Answer 1

No. It is void.

Question 2

Can commission splits between brokers be by oral agreement?

Answer 2

Yes.

Question 3

Can you pay a commission to an out-of-state broker?

Answer 3

Yes.

Question 4

What redevelops property for mixed use?

Answer 4

Infill.

Question 5

What term is used for something to be performed at a later date?

Answer 5

Executory.

Question 6

What term is used for a document that has been signed?

Answer 6

Executed.

Question 7

What is the statute of limitations on a judgment?

Answer 7

10 years.

Question 8

What type of listing allows the owner to sell the property during the listing period and not pay a commission?

Answer 8

An exclusive agency listing.

Question 9

Can an exclusive listing have an open-ended date?

Answer 9

No. All exclusive listings must have a definite termination date.

Question 10

Who earns a commission on an open listing?

Answer 10

Only the agent who is the procuring cause.

Question 11

Are net listings legal in California?

Answer 11

Yes. But, they are not recommended.

Question 12

Expansion and contraction of available spaces is influenced mainly by what?

Answer 12

The elasticity of demand.

Question 13

What is a kiosk?

Answer 13

A small freestanding building used for information purposes that is often found in shopping centers.

Question 14

What term means “the study of the population”?

Answer 14

Demography.

Question 15

What is a term for a very large city?

Answer 15

A megalopolis.

Question 16

What is a request for zoning change of a single lot for the owners’ benefit called?

Answer 16

A variance.

Question 17

Septic tanks must be installed how far from improvements?

Answer 17

At least five feet.

Question 18

What is a setback?

Answer 18

The distance between the street and the front of the improvements that must remain unimproved to comply with ordinance.

Question 19

What types of setbacks do most communities have?

Answer 19

Front, side and rear.

Question 20

What is the purpose of the Franchise Investment Law?

Answer 20

To protect the franchise.

Question 21

What type of funds are used to purchase a franchise?

Answer 21

Discretionary.

Question 22

Who must publish a bulk sales notice?

Answer 22

The transferee (a buyer).

Question 23

How many days before the sale must a bulk sales notice be published?

Answer 23

At least 12 days.

Question 24

What is the purpose of the bulk sales notice?

Answer 24

To alert creditors to the sale.

Question 25

How many times must the bulk sales notice appear?

Answer 25

Only once.

Question 26

Under what jurisdiction is the bulk sales notice?

Answer 26

The bulk sales notice is under the Uniform Commercial Code.

Question 27

What does a buyer need to obtain from the State Board of Equalization to avoid successor's liability?

Answer 27

A clearance receipt.

Question 28

Who does the buyer obtain a clearance receipt from, in order to avoid successor's liability?

Answer 28

The State Board of Equalization.

Question 29

What does a bill of sale do?

Answer 29

Transfers title to personal property?

Question 30

Does a bill of sale transfer title to real property?

Answer 30

No.

Question 31

What is required for a bill of sale to be valid?

Answer 31

The seller's signature.

Question 32

What department regulates liquor licensing?

Answer 32

The Department of Alcoholic Beverage Control.

Question 33

How can a franchisor be exempt from the permit aspect of the Franchise Investment Law?

Answer 33

A franchisor must have a net worth of $5 million with at least 25 franchises operating continuously in the five years preceding the offering.

Question 34

What are you testing for by turning on all faucets and flushing the toilets?

Answer 34

Water pressure.

Question 35

What affects the value of property near a gas station?

Answer 35

Toxic waste.

Question 36

What is another name for Title VIII?

Answer 36

The federal Fair Housing Act.

Question 37

What is another name for the federal Fair Housing Act?

Answer 37

Title VIII.

Question 38

What does "as is" refer to?

Answer 38

Observable defects.

Question 39

What act prohibits discrimination in the membership of real estate boards and the multiple listing service?

Answer 39

Title VIII of the Civil Rights Act of 1968 (federal).

Question 40

Under which act may an owner of a single-family residence take in one boarder to live with him or her and is exempt from the act?

Answer 40

California Fair Housing.

Question 41

Which act controls businesses and prohibits discrimination?

Answer 41

The Unruh Civil Rights Act.

Question 42

Under the Unruh Civil Rights Act are actual or punitive damages possible?

Answer 42

Both are possible.

Question 43

Give three examples of illegal and unethical practices by a real estate licensee.

Answer 43

Steering, panic selling, and blockbusting.

Question 44

What is redlining?

Answer 44

Discrimination by a financial institution.

Question 45

What is the purpose of federal fair housing laws?

Answer 45

To provide fair housing for all persons in the United States.

Question 46

Legal action based on alleged violations of fair housing laws can be brought in which court?

Answer 46

Both federal and state courts.

Question 47

What landmark case barred racial discrimination in property matters in the U.S.?

Answer 47

Jones v. Mayer in 1968.

Question 48

Which disclosure is required of sellers or transferors of one-unit to four-unit dwellings, since 1987?

Answer 48

A Real Property Transfer Disclosure Statement.

Question 49

Is a Real Property Transfer Disclosure Statement required for an "as is" sale?

Answer 49

Yes.

Question 50

Can a broker fill in the seller's portion of the Real Property Transfer Disclosure Statement?

Answer 50

No.

Question 51

A broker must disclose based on what?

Answer 51

A competent visual inspection of the accessible areas.

Question 52

What is the point of Easton v. Strassburger?

Answer 52

A broker must make a competent visual inspection of the accessible areas and disclose.

Question 53

As of 1988, what are agents required to give to seller and buyers of one to four dwelling units?

Answer 53

A written Agency Disclosure Statement.

Question 54

What are three hallmarks of a fiduciary relationship?

Answer 54

Loyalty, integrity, and utmost care.

Question 55

What are the names of the base and meridian lines in California?

Answer 55

Humboldt, Mt. Diablo, and San Bernardino.

Question 56

What does the saying "miles square" refer to?

Answer 56

Shape.

Question 57

What does the expression "square miles" refer to?

Answer 57

Area or content.

Question 58

Is a township a six-mile square?

Answer 58

Yes.

Question 59

How many square miles are in a township?

Answer 59

36.

Question 60

How many townships are there in a 36-mile square?

Answer 60

36.

Question 61

How many sections are there in a township?

Answer 61

36.

Question 62

How many square miles are in a six-mile square?

Answer 62

36.

Question 63

How many acres are in a section?

Answer 63

640.

Question 64

What is a one-mile square?

Answer 64

A section.

Question 65

Are range lines oriented north-south or east-west?

Answer 65

North-south. (Range, north and south all have five letters.)

Question 66

Are base lines oriented north-south or east-west?

Answer 66

East-west., (Base, east and west all have four letters.)

Question 67

How many square feet in an acre?

Answer 67

43,560 square feet to an acre.

Question 68

How many feet on each side of a square acre?

Answer 68

208.71 feet on each side of a square acre.

Question 69

How many square yards to one acre?

Answer 69

4,840 square yards to an acre.

Question 70

How many feet in a mile?

Answer 70

5,280 feet to a mile.

Question 71

How many rods to a mile?

Answer 71

320 rods to a mile.

Question 72

How many feet to a rod?

Answer 72

16.5 feet to one rod.

Question 73

How many rods to one chain?

Answer 73

Four rods to one chain.

Question 74

How many feet to one chain?

Answer 74

66 feet to one chain.

Question 75

How many square feet to a square yard?

Answer 75

Nine square feet to a square yard.

Question 76

What is a brownfield site?

Answer 76

A contaminated abandoned parcel that may be complicated to develop.

Question 77

What is a side yard setback?

Answer 77

The distance between the property line and the edge of the improvements.

Question 78

Do you deduct side yard setbacks from one side or both sides?

Answer 78

Both sides.

Question 79

How do you calculate build-able square feet?

Answer 79

Deduct the setbacks from the total lot area to arrive at build-able square feet.

Question 80

What are contiguous lots?

Answer 80

Lots that abut each other, at any point of contact.