CA Legal Aspects Final exam Flashcards
1
Q
If a property owner wants to build a small addition to their house, which does not comply with the local zoning resolution, they must obtain a? Special Permit Directed Development Reconsideration Variance
A
Variance
2
Q
A mechanic's lien is an example of a? Judgment lien General lien Voluntary lien Specific lien
A
Specific lien
3
Q
Examples of specific liens include:
A
Property taxes, mortgages, vendor’s lien, mechanic’s lien, vendee’s lien, and attachment lien.
4
Q
Which of the following must include at least 100 investors? Syndication Condominium REIT Cooperative
A
REIT
5
Q
According to the ADA, companion animals are also known as? Support animals Domestic animals Service animals Working animals
A
Service animals
6
Q
Common law is derived from? Legislation State senate Court decisions Federal Acts
A
Court decisions
7
Q
According to this principle, a judges decision may be made on precedent? Ad valorem Caveat emptor Judicial review Stare decisis
A
Stare decisis
8
Q
This refers to personal property that is given by the terms of a will? Testate Bequest Conveyance Grant
A
Bequest
9
Q
This Act helped eliminate kickbacks and referral fees between real estate brokers and mortgage brokers? ADA Civil Rights Act of 1968 RESPA Federal Fair Credit Reporting Act
A
RESPA
10
Q
An open listing is an example of what type of contract? Unilateral contract Options contract Bilateral contract Implied contract
A
Unilateral contract
11
Q
Which of the following is primarily concerned with the physical aspects of a subdivision? CC&Rs State building codes Subdivisions Map Act Subdivided Lands Act
A
Subdivisions Map Act
12
Q
This type of deed is the most commonly used deed in California? Voluntary Deed Quitclaim Deed Warranty Deed Grant Deed
A
Grant Deed
13
Q
The lessee is also known as the? Broker Seller Landlord Tenant
A
Tenant
14
Q
A fixture test takes into account which of the following? Any written agreements All of the above (need verify) The method of attachment The intention of the parties
A
All of the above
15
Q
A partition may be used to terminate what form of ownership? Tenancy in common Joint tenancy Corporation Ownership in severalty
A
tenancy in common
16
Q
If a borrower defaults on a loan, the lender may exercise which of the following clauses? Acceleration clause Termination clause Default clause Prepayment clause
A
Acceleration clause
17
Q
Real property equals real estate plus? Attachments Land Fixtures The bundle of rights
A
The bundle of rights
18
Q
This refers to the doctrine that if a party changes his or her position substantially, either by acting or forbearing from acting in reliance upon a gratuitous promise, then that party can enforce the promise although the essential elements of a contract are not present? Stare decisis Statute of limitations Promissory estoppel Executory enforcement
A
Promissory estoppel
19
Q
Which of the following is an example of a non-freehold estate? Life estate Leasehold estate All of the above Fee simple estate
A
Leasehold estate
20
Q
A simple will that uses a standard legal form, containing provisions required by State law, is known as a? Statutory will Joint will Express will Holographic will
A
Statutory will
