COMBINED QUESTIONS - CA REAL ESTATE EXAM 2025 Flashcards

COMBINED QUESTIONS - CA REAL ESTATE EXAM 2025 Flashcards SARA is an amendment to which environmental act?a.CERCLAb. Clean Air Actc. Clean Water Actd.Environmental Responsibility Act

• CERCLA

Who at the closing table examines all documents for buyers or sellers and represents their best interests?a.Buyer's or seller's attorneyb. Escrow agentc. Lender's attorneyd. Title insurance representative

• Buyer's or seller's attorney

Earnest money on deposit is a ______.a. Credit to the brokerageb. Credit to the buyerc. Credit to the sellerd.Debit to the seller

• Credit to the buyer

The value principle of ______ is the basis of the income approach to appraisal.a. Anticipationb. Capitalizationc.Competitiond. Substitution

• Anticipation

Which amendment to CERCLA says that "innocent landowners" aren't responsible for clean-up of hazardous contamination?a. Environmental Responsibility Amendmentb. Hazardous Contamination Amendmentc.Superfunds Amendments and Reauthorization Actd. The Fair Housing Act

• Superfunds Amendments and Reauthorization Act

Which of the following is a true statement about U.S.Department of Veterans Affairs loans?A. All properties are eligible.B. All veterans are eligible.C. The loan that's guaranteed will be based on either 100% of the sales price or 100% of the CRV, whichever is less.D. They're insured for either 100% of the sales price or 100% of the CRV, whichever is less.

• The loan that's guaranteed will be based on either 100%

of the sales price or 100% of the CRV, whichever is less.Who usually represents the lender at a closing?a. Broker for the buyerb. Broker for the sellerc. Lender's attorneyd.Title insurance representative

• Lender's attorney

Which key on a real estate calculator is used to enter the periodic principal and interest payment?A. INTB. LOAN

AMTC. PMTD. TERM

C. PMT

The seller and ______ must approve a short sale.a. A brokerb. A short sale specialistc. The new buyerd. The seller's lender

• The seller's lender

Which of the following scenarios accurately represents your environmental disclosure responsibility as a real estate licensee?a. You must disclose all known environmental hazards for both residential and commercial properties.b.You must disclose all known environmental hazards for commercial properties only; residential disclosure is the

seller's sole responsibility.c. You must disclose all known environmental hazards for residential properties only; commercial disclosure is the seller's sole responsibility.d.You must disclose all suspected environmental hazards for both residential and commercial properties.

• You must disclose all known environmental hazards for

both residential and commercial properties.Keira's father leaves her some property in a tiny town.When she goes to see it a year or so later, she's surprised to see that a family lives in one of the property's outbuildings. All of the neighbors know that this family had

been there for the past two years. This is an example of _______.a. Closed possessionb. Long-term possessionc.Open and notorious possessiond. Regulated possession

• Open and notorious possession

When a deed of trust is used as a security instrument, who holds the deed and the note?a. The lender holds the deed and the noteb. The lender holds the deed, and the trustee

holds the note.c. The trustee holds the deed, and the lender holds the note.d. The trustee holds the mortgage and the note.

• The trustee holds the deed, and the lender holds the

note.