Chapter 13 Flashcards
Tax
Enforced charge extracted of persons, corporations and organizations by the government to be used to support government services and programs
Gift Tax
A tax on the transfer of property by one individual to another while receiving nothing or less than full value in return.
What is a progressive Tax rate system?
The more you earn, the more you pay in taxes
Business Opportunities
the purchase or sale of business
What is sale and use tax?
Re-sale tax, controlled by the State Board of Equilization
This is an enforced charge extracted of persons, corporations and organizations by the government to be used to support government services and programs….?
A. Tax
B. Assessment
C. Bill of Sale
D. Gift
A. Tax
What taxes do mobile home owners pay?
In luie fee,
Sales Tax
Property Tax
A tax on the transfer of property by one individual to another while receiving nothing or less than full value in return is known as a ……?
A. Income Tax
B. Assessment Tax
C. Business Tax
D. Gift tax
D. Gift Tax
Who are exempt from the real estate licensing education requirement in California….?
A. Anyone licensed to practice law in California
B. Architects
C. Engineers
D. All of the above
A. Anyone licensed to practice law in California
For new licenses, continuing education is required how many years after getting their license….?
A. 1 year
B. 2 years
C. 3 years
D. 4 years
D. 4 years
All new licensees are required to take which of the following continuing education courses….?
A. Ethics
B. Fair Houseing
C. Consumer Protection
D. All of the above
D. All of the above
Real estate brokers must maintain records of all transaction for how many years from the date of the closing…..?
A. 1
B. 2
C. 3
D. 4
C. 3
Which of the following enables a person who has been defrauded or had just funds converted by a real estate licensee in a transaction requiring a license, to recover at least some of his/her actual loss when the licensee’s assets are insufficient….?
A. The California Real Estate Recovery Fund
B. The California Bill of Sale Fund
C. The California Escrow Fund
D. All of the above
A. The California Real Estate Recovery Fund
Bill of Sale
A written instrument given to pass title of personal property from vendor to vendee
A systematic regulation of construction of buildings within a municipality established by ordinance or law are known as …..?
A. Zoning Ordinances
B. Building Codes
C. Certificate of occupancy
D. housing Rules
B. Building Codes
Building codes are an example of police power…..?
A. T
B. F
A. True
What is the job of a building inspector….?
A. To enforce the building codes
B. To provide advise on construction
C. To provide feedback to the home owner
D. All of the above
A. To enforce the building codes
The Housing and Community Development do which of the following ….?
A. Develop housing policy and building codes
B. Regulated manufactured homes
C. Regulated mobile home parks
D. All of the above
D. All of the above
This is a contractor whose operations involve the performance of construction work requiring special skill and principal contracting business involves the use of specialized building trades or crafts….?
A. General Contractor
B. Construction Manager
C. Specialty Contractor
D. Union Contractor
C. Specialty Contractor
How long does a Broker need to report a Realator has transferred their license to another Broker to DRE?
5 Days
A gift is subject to tax liability……?
A. T (True)
B. F (False)
A. True
This refers to a contractor whose principal business is in connection with any structure being built (or to be built), requiring in it’s construction the use of at least two unrelated building trades or crafts….?
A. General Contractor
B. Constration Manager
C. Specialty Contractor
D. Union Contractor
A. General Contractor
A plumber is an example of a general contractor….?
A. True
B. False
B. False
Specialty contractors work under a general contractor on a project….?
A. True
B. False
A. True
It is a misdemeanor for a licensed contractor to perform asbestos related work without prior certification….?
A. T
B. F
A. True
Contractors in the State of California are governed by the ……?
A. California Bureau of Real Estate
B. California Attorney General
C. California Building Code Review Board
D. Contractors State Licensing Board
D. Contractors Sate Licensing Board
A roof which is almost level is referred as a …..?
A. Mansard Roof
B. Hip Roof
C. Flat Roof
D. Gable Roof
C. Flat Roof
A drawing to scale, showing a view from above, of the relationships between rooms, spaces and other physical features at one level of a structure is known as a …..?
A. Plot Plan
B. Floor Plan
C. Foundation Plan
D. Roof Plan
B. Floor Plan
A floor plan drawn to scale showing the location and size of the foundation walls of a building is known as a ….?
A. Foundation Plan
B. Geometry Plan
C. Slab Edge Plan
D. Plot Plan
A. Foundation Plan
A scaled plan diagram showing the buildings, utility runs, equipment layout, the position of roads, and other constructions of an existing or proposed project site is known as a ………?
A. Foundation Plan
B. Geometry Plan
C. Slab Edge Plan
D. Plot Plan
D. Plot Plan
An area of limited height under a floor or roof, giving access to wiring and plumbing is referred to as a …..?
A. Splayed Area
B. Foundation Space
C. Crawl Space
D. Parapet
C. Crawl Space
Mobile homes are NOT subject to a sales and use tax…?
A. True
B. False
B. False
A gift tax can be applied to both personal and real property….?
A. True
B. False
A. True
A written instrument give to pass title of personal periphery from vendor to the vendee is known as a…?
A. Deed
B. Purchase Contract
C. Bill of Sale
D. TransferDocument
C. Bill of Sale
A bill of sale is required if the items being sold are valued over….?
A. 1
B. 100
C. 500
D. 1000
C.
This law is intended to prevent a business owner from selling the items in which they run their business…..?
A Bulk Sale Law
B Commerce Law
C. Bulk Business Law
D. Bill of Sale Law
A. Bulk Sale Law
Which of the following is a requirement of a bulk sale by a business ……?
A. The business owner must setup an escrow for all funds realize from the sale
B. The business owner must give notice to all of their creditors
C. the business owner must publish notice of the sale in a circulated publication
D. All of the above
D. All of the above
Building Code
A systematic regulation of construction of building within a municipality established by ordinance or law.
A broker is required to supervise which of the following….?
A. All transactions that require a real estate license
B. Handling of all trust funds
C. Filing, storage, and maintenance of all transactions related documents
D. All the above
D. All of the above
Specialty Contractor
A contractor whose operations involve the performance of construction work requiring special skill and whose principal contracting business involves the use of specialized building trades or crafts.
General Contractor
A contractor whose principal businesses Ain connection with any structure being build (or to be built0, requiring in its construction the use of at least two unrelated building trades or crafts.
Gambrel Roof
A roof with two sides, each of which has a shallower slope above a steeper one.
Gable Roof
A roof sloping downward in two parts at an angle from a central ridge, so as a leave a gable at each end.
Mansard Roof
A roof that has four sloping sides, each of which become steeper halfway down
Hip Roof
A roof with the ends inclined, as well as the sides.
Flat Roof
A roof which is almost level
Floor Plan
A drawing to scale, showing a view from above, of the relationships between rooms, spaces and other physical features at one level of a structure.
Foundation Plan
A floor plan drawing to scale showing the location and size of the foundation walls of a building.
Plot Plan
A scaled plan diagram showing the buildings, utility runs, and equipment layout, the position of roads and tother constructions of an existing or proposed project site.
Crawl Space
An area of limited hight under a floor or roof, giving access to wiring and plumbing
