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
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
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
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
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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