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    Final Bonus Questions Fall 2012

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    char8383
    This document contains a final exam for a course on legal aspects of real estate. It consists of 60 multiple choice questions testing knowledge of key real estate terms and concepts. Topics covered include duties of real estate brokers, types of property interests like fee simple and life estates, elements of a valid contract, regulation of real estate commissions, and the statute of frauds.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Final Bonus Questions Fall 2012

    Uploaded by

    char8383
    25 views4 pages
    This document contains a final exam for a course on legal aspects of real estate. It consists of 60 multiple choice questions testing knowledge of key real estate terms and concepts. Topics covered include duties of real estate brokers, types of property interests like fee simple and life estates, elements of a valid contract, regulation of real estate commissions, and the statute of frauds.

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    This document contains a final exam for a course on legal aspects of real estate. It consists of 60 multiple choice questions testing knowledge of key real estate terms and concepts. Topics covered include duties of real estate brokers, types of property interests like fee simple and life estates, elements of a valid contract, regulation of real estate commissions, and the statute of frauds.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    25 views4 pages

    Final Bonus Questions Fall 2012

    Uploaded by

    char8383
    This document contains a final exam for a course on legal aspects of real estate. It consists of 60 multiple choice questions testing knowledge of key real estate terms and concepts. Topics covered include duties of real estate brokers, types of property interests like fee simple and life estates, elements of a valid contract, regulation of real estate commissions, and the statute of frauds.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 4

    Legal Aspects of Real Estate

    Final Bonus Questions


    Print your name: ______________________
    (Circle the letter of the best anser! "o not anser these #uestions on the scantron sheet!$
    %! A real estate bro&er is un'er a 'uty to use hich of the folloing in the
    performance of his 'uties(
    a! Care
    b! )&ill
    c! "iligence
    '! All of the abo*e
    +! A dual agency means operating a real estate office an' tra*el agency at the same
    location!
    a! ,rue
    b! False
    -! A*ulsion most closely means
    a! A su''en. complete. *iolent change of feeling!
    b! ,he su''en ashing aay of lan' along the ban& of a bo'y of ater by
    natural forces!
    c! Queasiness
    '! A 'eposit of soil on or a'/oining property. as by flo of a ri*er or stream
    or by ti'es
    e! Allu*ium
    0! Reformation means
    a! ,he mo*ement starte' by 1artin Luther in the si2teenth century to reform
    the Roman Catholic Church!
    b! An action to correct a mista&e in a contract. a 'ee' or other 'ocument!
    c! Both a an' b
    '! 3either a nor b
    4! ,he la of real estate is largely base' on the common la of Englan'!
    a! ,rue
    b! False
    5! 3on6freehol' estates inclu'e hich of the folloing(
    a! Fee estates
    b! Perio'ic tenancies
    c! Life estates
    '! All of the abo*e
    Page 7 %
    8! CAR stan's for hat in real estate(
    a! ,he *ehicle you 'ri*e clients aroun' in!
    b! ,he California Association of Riflemen
    c! ,he California Association of Realtors
    '! ,he Criminal Association of Realtors
    9! ,he term :fee simple 'efeasible; most closely means
    a! <t=s a property that shoul' be easy to pay for
    b! >our real estate agent must not be too smart
    c! ,here=s a clou' on title
    '! A fee simple estate that can be lost or 'efeate' by the happening of some
    subse#uent e*ent
    ?! @hich of the folloing is not an essential element of a *ali' contract(
    a! Competent parties
    b! 1utual consent
    c! Laful ob/ect
    '! :,ime is of the essence; clause
    %A! ,he term :mutual consent; refers to
    a! Bffer an' acceptance
    b! Promise an' counterpromise
    c! A meeting of the min's
    '! All of the abo*e
    %%! Real estate commissions are regulate' by:
    a! ,he California "epartment of @eights. 1easures. an' Commissions
    b! ,he Boar' of Realtors
    c! ,he Real Estate Commissioner
    '! Commissions are not regulate' an' are alays negotiable
    %+! ,he primary function of the courts is to
    a! A'minister the la
    b! <nterpret an' apply the la
    c! Enact the la
    '! All of the abo*e
    %-! Remain'er interests in real property or'inarily relate to
    a! Fee simple estates
    b! Life estates
    c! Cn'i*i'e' interests in real property
    '! 3one of the abo*e
    Page 7 +
    %0! An ine2cusable 'elay in asserting a legal right is &non as
    a! La2ity
    b! Latitu'e
    c! Laches
    '! LaDiness
    %4! <n an e2ecute' contract. one party has performe' but the other has not!
    a! ,rue
    b! False
    %5! @hich of the folloing tests ill apply to 'etermine hether or not a thing is a fi2ture(
    a! ,he intention of the parties
    b! ,he metho' of anne2ation
    c! Eo a'aptable it is to the property
    '! All of the abo*e
    e! Ansers a an' c only
    %8! Fee simple means
    a! ,he highest estate or interest one can ha*e in real property
    b! ,itle free of liens an' encumbrances
    c! Co6onership
    '! Cash as pai' for the property
    %9! Freehol' estates inclu'e hich of the folloing(
    a! An estate at ill
    b! An estate for years
    c! A life estate
    '! 3one of the abo*e
    %?! An estate :to A for the life of F; 'oes hich of the folloing if A 'ies before F(
    a! <t ceases to e2ist!
    b! <t re*erts to the original grantor!
    c! <t *ests in F for the rest of his life!
    '! <t *ests in the heirs or 'e*isees of A for the life of F!
    +A! Gane as gi*en real property for the term of her natural life! @hich of the folloing
    statements is incorrect(
    a! Gane has a freehol' estate!
    b! Gane has a fee simple estate!
    c! ,he 'uration of this estate is measure' by the life of Gane!
    '! ,he estate can be encumbere' by Gane. but not beyon' her life!
    Page 7 -
    +%! Hary lease' a buil'ing for si2 months! Hary has
    a! An estate for years
    b! An estate for 5 months
    c! An estate at ill
    '! A freehol' estate
    e! A perio' tenancy
    ++! @hat is the highest interest an oner can ha*e in real property(
    a! A life estate
    b! Fee simple absolute
    c! An interest for a certain perio' of time
    '! A ?? year lease
    +-! ,he statute that re#uires certain types of contracts to be in riting to be enforceable is
    &non as the
    f! )tatute of Limitations
    g! )tatue of Liberty
    h! )tatute of "escent
    i! )tatute of Frau's
    +0! ,he substitution of a ne obligation ith the intent to e2tinguish an e2isting one is &non as
    a! Rescission
    b! 3o*ation
    c! Cosi fan tutti
    '! 3one of the abo*e
    +4! An offer may be terminate' by
    a! Re*ocation of the offeror
    b! Re/ection by the offeree
    c! Lapse of time
    '! Any of the abo*e
    e! Bnly a an' b
    +5! @hich of the folloing is consi'ere' a bilateral contract(
    a! A promise for an act
    b! A promise for a promise
    c! ,o contracts combine' by a merger clause
    c! 3one of the abo*e
    Page 7 0

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