Times/Dates

Question 1

3 days

Answer 1

after delivery of TDS in person to buyer, for buyer to terminate his offer in writing

Question 2

3 business days

Answer 2

after loan documents signed; truth-in-lending right to rescind

Question 3

5 days

Answer 3

after delivery of TDS by mailing to buyer, for buyer to terminate his offer in writing

Question 4

1 week

Answer 4

after closing, the broker/escrow must record trust deed

Question 5

7 calendar days

Answer 5

buyers have until midnight of the seventh calendar day to rescind the purchase contract in a timeshare subdivision

Question 6

10 days

Answer 6

to post and record a Notice of Nonresponsibility

Question 7

10 days

Answer 7

for a broker to recommend a lender record a trust deed

Question 8

10 calendar days

Answer 8

for agent to report sale of registered mobilehome to Dept. of Housing and Community Development

Question 9

15 days

Answer 9

for an owner/landlord to return a copy of the written lease of rental agreement to the tenant

Question 10

21 days

Answer 10

landlord must return security deposit to tenant

Question 11

25 days

Answer 11

a broker must remove earned fees in excess of $200 from his trust account

Question 12

Monthly

Answer 12

a broker must reconcile his/her client trust account monthly

Question 13

Property Tax Year

Answer 13

July 1 - June 30

Question 14

1 year or less

Answer 14

oral lease of real property

Question 15

1 year

Answer 15

from the date you took the exam to apply for your real estate license after you pass the exam

Question 16

1 year

Answer 16

to file a Rumford Act complaint with the Dept. of Fair Employment & Housing

Question 17

More than 1 year

Answer 17

lease of real property must be in writing

Question 18

2 years

Answer 18

grace period to renew your real estate license after it expires

Question 19

2 years

Answer 19

to sue an agent for failure to disclose defects in the TDS

Question 20

3 years

Answer 20

keep all real estate documents

Question 21

3 years

Answer 21

to sue a neighbor to have an encroachment removed

Question 22

3 years

Answer 22

for overages in a trust account to be turned over to the Controller’s office

Question 23

37 months

Answer 23

promotional note is no longer a real property security

Question 24

4 years

Answer 24

must renew sales and broker licenses

Question 25

5 years

Answer 25

possession required to take title by adverse possession

Question 26

5 years

Answer 26

usage to create an easement by prescription

Question 27

5 years

Answer 27

non-use terminates an easement by prescription

Question 28

5 years

Answer 28

DBA expires

Question 29

27.5 years

Answer 29

minimum depreciation period for residential income property (apartment buildings)

Question 30

39 years

Answer 30

minimum depreciation period for non-residential income property (commercial buildings)

Question 31

1968

Answer 31

Jones v. Mayer, established the 13th Amendment as a basis for Fair Housing Laws