Wrong on Quiz

Question 1

Quiz 1
6) A residential mortgage primarily for personal, family or household use and secured by a deed of trust on a dwelling is known as a:

A) consumer purpose mortgage.
B) public project loan.
C) adjustable rate mortgage (ARM).
D) Zero Ability to Pay (ZAP) loan.

Answer 1

A) consumer purpose mortgage.

Question 2

Quiz 2
7) _________ involves the restriction of a person seeking to buy or rent a dwelling in a community in a manner that perpetuates segregated housing patterns.

A) Blockbusting
B) Redeveloping
C) Redlining
D) Steering

Answer 2

D) Steering

Question 3

Quiz 2
8) A residential landlord may not induce or attempt to induce an individual to offer, or abstain from offering, a dwelling to prevent the entry of certain classes of people into the neighborhood, known as:

A) blockbusting.
B) condemnation.
C) redlining.
D) dual agency

Answer 3

A) blockbusting.

Question 4

Quiz 4
9) The Natural Hazard Disclosure Statement (NHD) handed to a prospective buyer does not disclose:

A) whether the property is located in an area of potential flooding.
B) whether the property is situated in a very high fire hazard severity zone.
C) environmental hazards and physical deficiencies in the soil or property improvements.
D) the fact the property was built in a seismic hazard zone.

Answer 4

C) environmental hazards and physical deficiencies in the soil or property improvements.

Question 5

Quiz 4
10) The Natural Hazard Disclosure Statement (NHD) requires the seller’s agent to disclose to a prospective buyer whether they have knowledge the property:

A) has a roof greater than three years old.
B) is located in a fault zone.
C) is located in an area with a high crime rate.
D) has an outdoor pool.

Answer 5

B) is located in a fault zone.

Question 6

Quiz 5
10) All records of an agent’s activities on behalf of a buyer or seller during the listing period are to be retained by the agent’s broker for:

A) one year.
B) two years.
C) three years.
D) four years.

Answer 6

C) three years.

Question 7

Quiz 6
5) The _________________, contained in all purchase agreements, states the existence or nonexistence of each broker’s fiduciary agency with the various parties to the transaction.

A) agency confirmation provision
B) broker liability agreement
C) hold harmless agreement
D) attorney fee provision

Answer 7

A) agency confirmation provision

Question 8

Quiz 7
10) California established the __________ to act as a referee for all disputes over water rights.

A) California Bureau of Real Estate (CalBRE)
B) Department of Motor Vehicles (DMV)
C) Federal Water Conservation Authority (FWCA)
D) State Water Resources Control Board

Answer 8

D) State Water Resources Control Board

Question 9

Quiz 8
2) The location of a common property line that is represented by an improvement which acts as a demarcation of the property line is called a:

A) spite fence.
B) common boundary improvement.
C) implied boundary.
D) nuisance.

Answer 9

B) common boundary improvement.

Question 10

Quiz 9
8) To simply convey any interest in real estate without an assurance the individual holds that interest conveyed, a(n) __________ deed is used.

A) grant deed
B) abstract of title
C) quitclaim deed
D) implied covenant

Answer 10

C) quitclaim deed

Question 11

Quiz 9
10) A(n) ________ is valid and enforceable after delivery until it is challenged due to a defect and declared invalid by court order.

A) voidable deed
B) void deed
C) void ab initio deed
D) implied deed

Answer 11

A) voidable deed

Question 12

Quiz 10
5) A(n) ________ is a written statement which presents an accurate, factual representation of title to the property being acquired, encumbered or leased.

A) preliminary title report
B) property profile
C) abstract of title
D) balance sheet

Answer 12

C) abstract of title

Question 13

Quiz 10
10) The __________ program assists qualified veterans or their surviving spouses to buy a home with a zero down payment.

A) California Housing Finance Agency (CalHFA)
B) California Department of Veterans Affairs (CalVet)
C) U.S. Department of Veterans Affairs (VA) mortgage guarantee
D) Federal Housing Administration (FHA)-insured mortgage

Answer 13

C) U.S. Department of Veterans Affairs (VA) mortgage guarantee

Question 14

Quiz 11
3) A __________ occurs when a seller carries back a note executed by the buyer to evidence a debt owed for the purchase of the seller’s property.

A) short sale
B) mortgage cramdown
C) seller financing arrangement
D) loan assumption

Answer 14

C) seller financing arrangement

Question 15

Quiz 12
6) The ________ is the preferential method used to impose a lien on real estate.

A) promissory note
B) trust deed
C) due-on clause
D) Notice of Nonresponsibility

Answer 15

B) trust deed

Question 16

Quiz 14
7) A(n) _________ provision in a lease assures application of California law when a dispute arises between a tenant and landlord.

A) choice-of-law
B) hold harmless
C) subtenancy
D) attorney fee provision

Answer 16

A) choice-of-law

Question 17

Quiz 14
9) A ________ provides a source of recovery for money losses incurred by the landlord due to a tenant default on monetary obligations agreed to in the rental or lease agreement.

A) tenant screening fee
B) security deposit
C) Real Estate Recovery Fund
D) savings account

Answer 17

B) security deposit

Question 18

Quiz 14
10) If no repairs are made to a rented unit, the residential landlord needs to refund the security deposit, less reasonable deductions, within _____ days after a tenant vacates.

A) 7
B) 10
C) 21
D) 30

Answer 18

C) 21

Question 19

Quiz 15
3) The Three-Day Notice to Perform or Quit requires the tenant to vacate the premises or:

A) perform under the breached lease provision.
B) correct the incurable breach.
C) forfeit possession of the property and all furnishings.
D) subordinate their interest in the property.

Answer 19

A) perform under the breached lease provision.

Question 20

Quiz 15
4) Waste occurs when a tenant:

A) vacates and quits the premises.
B) neglects the premises and impairs its value by failing to maintain it as agreed.
C) subleases the premises to a subtenant without the landlord’s consent.
D) allows greater than five guests to stay in the premises overnight.

Answer 20

B) neglects the premises and impairs its value by failing to maintain it as agreed.

Question 21

Quiz 15
7) A landlord breaches the __________ when they fail to comply with building and housing code standards that materially affect health and safety.

A) implied warranty of habitability
B) unspoken gentlemen’s agreement
C) implied agency duty of care
D) statute of frauds

Answer 21

A) implied warranty of habitability