Practice Quiz

California Real Estate Exam - Question List

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11. The term “servicing” describes:
  1. the collection of mortgage payments from borrowers
  2. what the mechanic does to your car
  3. duties of a loan servicer
  4. both A and C
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12. A two- to-four family property:
  1. consists of a structure that provides living space for two to four families and ownership is evidenced by two to four deeds
  2. consists of a structure that provides living space for two to four families and ownership is evidenced by a single deed
  3. is not a deeded property
  4. is an illegal form of ownership
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13. A home inspection is:
  1. a thorough inspection by a professional which evaluates the structural and mechanical condition of a property
  2. not required by law
  3. often a contingency in a contract that it turns out satisfactorily
  4. both A and C
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14. What parties are required, by law, to sign the Agency Disclosure Statement:
  1. Buyer only
  2. Seller only
  3. Buyer and seller
  4. Buyer, seller, listing salesperson and selling salesperson
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15.

An appraiser is preparing the income approach to an appraisal of income property. In his selection of a capitalization rate, he must recognize that the higher the rate used, the greater the implied ______________?

  1. Income
  2. Appreciation
  3. Risk
  4. Value
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